The ‘Green Star’ award is given exclusively to real estate management companies and funds that fully integrate environmental, social and governance (ESG) elements into their operations. These businesses must demonstrate their ability to measure, implement, manage and develop within very strict ESG frameworks.
Savills IM also announces that it has achieved ‘A’ grade status for its UN PRI (United Nations Principles for Responsible Investment) annual transparency report. This year, the business improved on its previous score of ‘B’ and the industry sector average which is also ‘B’ grade.
As a signatory of the UN PRI since 2014, Savills IM has committed to its six principles for responsible investment. These principles prioritise the inclusion of ESG issues in investment analysis and the decision-making process. They also encourage the incorporation of ESG elements into ownership policies and practices as well as appropriate disclosure on progress towards the effective implementation of these principles.
Commenting on the results of the UN PRI report, Justin O’Connor, CEO of Savills Investment Management, commented:
“Our new ‘A’ grade status publicly reaffirms our whole-hearted commitment to observing and maintaining these principles both now and in years to come. As a long-term PRI signatory, we are able to consistently meet commitments to beneficiaries as well as better align our investment activities with the broader interests of society.”
Of the GRESB Green Star status award, Lucy Winterburn of Savills Investment Management said:
"Our Green Star status is a solid example of our renewed commitment to prioritising sustainable business practices within our organisation. Additionally, the nature of this achievement clearly differentiates us within the industry as an investment manager with a proven capacity to operate within extremely stringent ESG guidelines.”
GRESB is an industry-driven organization committed to assessing the sustainability performance of real estate portfolios (public, private and direct) around the globe. The dynamic benchmark is used by institutional investors to engage with their investments with the aim to improve the sustainability performance of their investment portfolio, and the global property sector at large. By participating in GRESB’s annual assessment, companies and fund managers will be able to better manage their portfolios in the face of more volatile energy supply, stricter legislation to combat climate change, increased energy efficiency requirements and changing preferences of corporate tenants.
For more information, visit the GRESB web site: www.gresb.com
About the UN PRI
The PRI is the world's leading proponent of responsible investment. It works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole.
The PRI is truly independent. It encourages investors to use responsible investment to enhance returns and better manage risks, but does not operate for its own profit; it engages with global policymakers but is not associated with any government; it is supported by, but not part of, the United Nations. For more information, visit: https://www.unpri.org/about
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