Savills IM achieves above peer average for logistics funds in 2023 GRESB assessment
19 October 2023
Savills Investment Management announces that 100% of its submitted logistics funds have scored above their peer group average in this year’s GRESB assessment. 100% of funds domiciled in Singapore also scored above their peer group average.
All funds submitted achieved a ‘Green Star’ GRESB rating. GRESB focuses on corporate sustainability governance and the implementation of fund level policy and processes such as green building certifications and data coverage.
The firm’s funds also saw demonstrable progress in their green credentials across the year, with 84% outperforming their ratings last year representing an average increase of six in their GRESB score.
Milan Green Fund II was a particular success story with the fund achieving a 5-star rating and an overall score of 99/100. The fund also received four sector leader designations, including being named Real Estate Sector Leader – Global (office). The fund’s rating has been driven by improved tenant engagement activities as well as increased data coverage which has helped to identify assets to reduce energy consumption. During the reporting year the fund also increased the number of buildings that were certified, demonstrating their sustainability credentials.
A prime example of the fund’s activity is Via Della Spiga, a mixed-use property situated in the heart of Milan with retail units located on the ground floor and offices spanning the 1st to 6th floors. Environmental sustainability was a cornerstone of this development. A robust commitment to green practices resulted in an A2-rated APE/EPC as well as a LEED Gold Certification. Approximately 80% of the materials used in its construction being recycled and sourced locally within a 15-mile radius, and tenants benefit from a wide range of amenities including a single EV charging point located conveniently outside the building's reception, and a bike storage facility with a capacity for 60 bicycles.
Emily Hamilton, Head of ESG at Savills Investment Management, commented:
“Savills IM is committed to being a resilient, responsible investment driven real estate asset management business. We are encouraged to see the progress we continue to make as a firm and with the increase in tenant data coverage being acknowledged through these improved GRESB scores.”
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"Savills IM is committed to being a resilient, responsible investment driven real estate asset management business."