18 January 2024
We are particularly proud of achieving 5 stars in ‘Direct – Fixed Income – Private Debt’, evidencing DRC Savills IM’s ongoing effort to embed sustainability outcomes into its private real estate debt operations.
We are also pleased to have scored above the median in our peer group for the ‘Direct – Real Estate’ module, but acknowledge that there is always room for improvement. We plan to explore ways in which to improve our scores in the future, particularly in the ‘Fundraising’ and ‘Selection, Appointment and Monitoring of Third-Party Property Managers’ sections.
As a real estate investment manager with €25.7bn AUM and managing over 700 assets (as at 30 September 2023), there are some challenges reporting for real assets against assessments like these. For example, obtaining a green building certification can be beneficial as it can act as a useful education tool and add value for some buildings. We utilise several certification schemes at Savills IM. However, obtaining a green building certificate for every asset - which is a common assessment criterion for real estate benchmarking - could be viewed as impractical; particularly when resource and investment may be better placed in delivering real world sustainability initiatives such as implementing climate adaptation measures, a net zero carbon roadmap for the asset or working to deliver tangible social impact outcomes like improving accessibility of the building.
As evidenced in our 2022-2023 Sustainability Report, Savills IM remains committed to and focused on responsible investment practices and we look forward to partaking in UN PRI’s assessments in the future.
Savills IM’s full UN PRI Transparency Report is available here.
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“We are particularly proud of achieving 5 stars in ‘Direct – Fixed Income – Private Debt’, evidencing DRC Savills IM’s ongoing effort to embed sustainability outcomes into its private real estate debt operations. ”