View
232
Download
0
Category
Preview:
Citation preview
ACTIAM Aegon NV Alberta Investment Management Corporation (AIMCo) Amundi AMP Capital AP1 First Swedish National Pension FundAP2 Second Swedish National Pension Fund AP3 Third Swedish National Pension Fund AP4 Fourth Swedish National Pension Fund AP7 Seventh Swedish National Pension Fund Archbishops' Council Armstrong Asset Management ATP Australian Ethical Investment AustralianSuper Aviva Investors AXA AXA IM Baldwin Brothers Inc. Bank J. Safra Sarasin Bayerische Versorgungskammer Bedfordshire Pension Fund BMO Global Asset Management BNP Paribas Investment Partners Brawn Capital Brown University Sustainable Investment Fund BT Pension Scheme California Public Employees' Retirement SystemCalifornia State Teachers' Retirement
SystemCathay Financial Holding Co., Ltd. Catholic Super CBRE Global Investors Cbus Super CCLA Central Finance Board of the Methodist Church Christian Brothers Investment Services Christian Super Christopher Reynolds Foundation Church Commissioners for England Church of England Pensions Board Church of Sweden Connecticut Retirement Plans and Trust Funds Dana Investment Advisors Danske Bank Asset Management Danske Civil- og Akademiingeniørers Pensionskasse Deutsche Asset Management Dragon Capital EdenTree Investment Management Ltd. Encourage Capital Environment Agency Pension Fund Epworth Investment Management Ltd ERAFP ESSSuper ETF Partners Eureka Funds Management First Affirmative Financial Network Friends Fiduciary Corporation Friends Provident Charitable Foundation FRR - Fonds de Réserve pour les Retraites Greater Manchester Pension Fund
Henderson Global Investors Hermes Investment Management HESTA HSBC Global Asset Management IFM Investors Impax Asset Management Inflection Point Capital Management Insight Investment Jesuits in Britain Juristernes og Økonomernes Pensionskasse Kempen Capital Management L&G Investment Management Local Government Super London Pensions Fund Authority Mercer Merseyside Pension Fund Miller/Howard Investments, Inc. Mirova MN Nanuk Asset Management Pty Ltd Natixis Asset Management NEI Investments New York City Comptroller New York State Common Retirement Fund New Zealand Superannuation Fund NextEnergy Capital Nordea Wealth Management North East Scotland Pension Fund OFI Ohman Old Mutual Global Investors OPTrust Oregon State Treasurer OTTP Pax World Management LLC PensionDanmark PGGM
PKA Plater Trust Railpen Investments Rathbone Greenbank Investments Representative Body of the Church of Ireland Reynders, McVeigh Capital Management Robeco Russell Investments Sisters of St. Dominic of Caldwell, New Jersey Sonen Capital South Yorkshire Pensions Authority Stafford Sustainable Capital Statewide Super Tellus Mater Foundation Temporis Capital LLP The Barrow Cadbury Trust The Joseph Rowntree Charitable Trust The Pensions Trust The Sustainability Group at Loring, Wolcott and Coolidge The United Reformed Church Trillium Asset Management Trustees of Amherst College Unipension FAIF A/S Unitarian Universalist Association USS Veris Wealth Partners VicSuper Vision Super Pty Ltd Walden Asset Management Wespath Benefits and Investments West Midlands Pension Fund West Yorkshire Pension Fund WHEB
130 investors
INTRODUCING THE 11THGICS® SECTOR: REAL ESTATE
99TWh 27.9Mt 0.47km3 15.5Mt
Buildings are (a big part of) the problem...
Innovation in renewable energy
…but also part of the solution
Innovation in waste management
…but also the solution
Market Transformation
Sustainability Performance
Regulation Leading
BREEAM OutstandingLEED PlatinumGreen Star Six StarEtc.
Building Stock
Market transformationTop down, bottom up
CapitalMarket
Company
Portfolio
Building
Investment CommunityCAPITAL Investment
Manager
Portfolio Manager/Asset Manager
Property Manager/Facility Manager
COMM
ITMENT
TRANSPARENCY
RISKOPPORTUNITY
3.9xThe difference in overall GRESB score between
the Top 10% and Bottom 10% entities in 2016
“U.S. REITs with higher GRESB ratings deliver higher returns
per unit of risk”
“2.75% return spread between the Top 10%
and Bottom 10% European non-listed
GRESB entities”
73,988Homes
EnergyLFL consumption (between 2014-2015)
90,197passenge
r cars
CarbonLFL consumption (between 2014-2015)
1,200Olympic
pools
WaterLFL consumption (between 2014-2015)
14,963truck loads
WasteLFL consumption (between 2014-2015)
The Assessment
REAL ESTATE PORTFOLIOS
PROPERTYCOMPANIES
CAPITALMARKET
BENCHMARKSCOREASSESS
COMMUNICATE
DATA QUALITY
DATA PARTNERS (API)
GRESB ASSET DATA
FREE GRESB ASSET SPREADSHEETS
ValidationThree-layer process for investment-grade data
100%
Validation Plus
Site Visit
All Participant Check
Open text boxes (quality)Open-ended questionsHyperlinksEvidence (presence)
Evidence (content)Data accuracy18%
2.5% Reporting boundariesData qualityEvidence for answers
GRESB Coverage
63 Countries 759 Entities 66,000 Assets
GRESB coverage
GRESB coverage
GRESB coverage
USD 100 billion
Apple Market CapUSD 584 billion
USD 7.6 trillionCommercial Real Estate Owned by Investors
Competitive Differentiation & Advantage
Risk & Uncertainty USD 2.8 trillionGRESB Coverage
GRESB Performance
GRESB ModelGlobal ESG performance
GRESB ModelRegional ESG performance
GRESB ModelUnited Kingdom
ESG Performance DynamicsGlobal trends over time
Sector leadersEurope
Property type Entity nameRetail - Listed Altarea Cogedim 🌐
Retail - Private Steen & Strom ASOffice - Listed Cegereal
Office - Private Central Saint Giles Limited Partnership – Legal and General Property 🌐🌐
Industrial Prologis European Properties Fund II –PrologisResidential - Listed UBS (CH) Property Fund Direct ResidentialResidential - Private CSA Real Estate Switzerland Residential – Credit Suisse 🌐
Healthcare Achmea Dutch Health Care Property Fund – Syntrus Achmea Real Estate & Finance 🌐
Other Leisure Fund Property Partnership – Legal and General Property 🌐
Diversified - Listed Credit Suisse Real Estate Fund LivingPlusDiversified - Private Linked Life Fund – Legal and General PropertyDiversified - Retail/Office (Listed) British Land Company PlcDiversified - Retail/Office (Private) Managed Fund – Legal and General Property
Diversified - Industrial/Office Castellum AB 🌐Diversified - Residential/Office Credit Suisse Real Estate Fund SIAT – Credit Suisse
🌐 🌐Global Leader 🌐 Global Sector Leader
Performance?
13,645Homes
EnergyEurope: Footprint and LFL Consumption 2014-2015
3,401passenger
cars
CarbonEurope: Footprint and LFL Consumption 2014-2015
147Olympic pools
WaterEurope: Footprint and LFL Consumption 2014-2015
225,583truck loads
WasteEurope: Footprint and LFL Consumption 2014-2015
Renewable EnergyGlobal
Renewable EnergyEurope
Intensities – energy consumptionInput versus output
Intensities – carbon emissionsInput versus output
But also...
GRESB AspectsGlobal
2016 2015
Stakeholder EngagementGlobal
…and many more indicatorsSuch as Health & Well-being
What drives performance?
PLAN
DO
CHECK
ACT
INDICATOR
Carbon ManagementGlobal
1. ESG policy includes carbon emissions2. Carbon emissions target in place3. Due diligence process includes carbon
emissions4. Risk assessments include carbon
emissions5. Data management system in place6. Reporting carbon emissions data7. Offsetting carbon emissions8. Reporting carbon intensity data
9. External review of carbon emissions data
1.2.3.4.5.6.7.8.9.
Road Ahead
759ENTITIES
60(’15: 54)
LISTEDAUS/NZ
-2% LFL Change in Carbon Emissions (427kt)
SCORE LEADREPORT
Sustainability Performance
Regulation Leading
BREEAM OutstandingLEED PlatinumGreen Star Six StarEtc.
Building Stock
This needs radical innovation!…in products and services
And it’s not just investors…Lenders are waking up…
18GRESB Debt Participants
USD44blnTotal
Loan Portfolio
USD7.1blnGreen
Property Bonds
Sustainability Performance
Building Stock
Regulation Leading
BREEAM OutstandingLEED PlatinumGreen Star Six StarEtc.
Sustainability Performance
Companies
So, what is your GRESB Rating?
Recommended