Principal Asset Management℠ Real Estate Strategies Receive 4-Star Rating From Global Real Estate Sustainability Benchmark in 2023
27 Novembre 2023 - 10:00PM
Business Wire
Four-star GRESB rating for Principal real
estate strategies showcases its long-standing commitment to
sustainable investment
Principal Asset Management℠ announced today that its United
States real estate core strategy and two European real estate core
property strategies received a 4-star rating in 2023 from the
Global Real Estate Sustainability Benchmark (GRESB). This year
marks the eighth consecutive year Principal’s U.S. real estate core
strategy has earned a 4-star rating from GRESB.
This year’s ratings place all three Principal strategies in the
top 40% of GRESB participants worldwide1 and exhibit a
long-standing commitment by Principal to integrate sustainability
standards into its investment practices while pursuing positive
financial results for clients. Ten strategies also received the
green-star rating, which is awarded to entities with scores higher
than 15 out of 30 on the Management and 35 out of 70 on Performance
components.
"We are committed to implementing the latest innovations in the
real estate industry to help clients achieve positive financial
outcomes in addition to sustainability practices," said Jennifer
McConkey, managing director of ESG and operations for Principal
Asset Management. "Our strong GRESB performance over the past eight
years is evidence of the success of our Pillars of Responsible
Property Investing platform and the ability of funds to continually
implement new ESG practices and perform well against their peers in
North America and Europe."
In total, Principal Asset Management submitted five U.S. real
estate funds and seven European real estate funds for participation
in GRESB in 2023. All strategies scored 30 out of 30 points on the
Management component that covers leadership, policies, reporting,
risk management, and stakeholder engagement. Several strategies
showed increased scores in the Performance component for building
certifications, improved data coverage, and year-over-year
performance on water and waste.
The Pillars of Responsible Property Investing is the overarching
sustainability platform for the firm’s dedicated real estate
investment team. This platform guides the implementation of
sustainability throughout the property life cycle as it seeks to
invest in and lend on real estate that delivers positive financial
outcomes for all stakeholders while promoting health and wellbeing
for tenants and residents, minimizing environmental impacts, and
enhancing the communities where we invest.
About GRESB
Each year, GRESB assesses and benchmarks the ESG performance of
real estate assets worldwide. Overall fund participation grew by
15% this year to 2,084 listed and non-listed portfolios, generating
a benchmark that covers USD7.2 trillion of AUM across 75 countries.
Growth was particularly strong in Oceania and Asia, while markets
like Europe and the Americas continued with steady growth rates. On
a global scale, Europe led the pack with the highest number of new
participants, rising from 907 to 1,013. Of the 433 US portfolios
that participated, 53 were new in 2023.
Information on the 2023 GRESB Real Estate results can be found
at GRESB.com. Principal paid GRESB and application fee to be
evaluated and to use the rankings.
About Principal Asset Management℠
With public and private market capabilities across all asset
classes, Principal Asset Management℠ and its investment specialists
look at asset management through a different lens, creating
solutions to help deliver client investment objectives. By applying
local insights with global perspectives, Principal Asset Management
identifies distinct and compelling investment opportunities for
more than 1,100 institutional clients in over 80 markets.2
Principal Asset Management is the global investment solutions
business for Principal Financial Group® (Nasdaq: PFG), managing
$506.9 billion in assets2 and recognized as a “Best Places to Work
in Money Management”3 for 11 consecutive years.
© 2023 Principal Financial Services, Inc. Principal®, Principal
Financial Group®, and Principal and the logomark design are
registered trademarks of Principal Financial Services, Inc., a
Principal Financial Group company, in the United States and are
trademarks and services marks of Principal Financial Services,
Inc., in various countries around the world.
1 The GRESB star rating is a relative score that ranks all GRESB
participants worldwide, broken up into quintiles. Therefore, a
GRESB 4-star score indicates performance within the top 40% of all
participants. 2 As of September 30, 2023 3 Pensions &
Investments, “The Best Places to Work in Money Management”,
December 12, 2022
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Erin Parro, 515-878-0130
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