NN Group’s direct real estate portfolio ranked first on sustainability in GRESB peer group
NN Group’s direct real estate portfolio has received a five-star rating and first place within its peer group from Global Real Estate Sustainability Benchmark (GRESB). The GRESB is a leading global benchmark for assessing real estate’s environmental, social and governance (ESG) performance. The awarded NN Group portfolio is managed by CBRE Investment Management (CBRE IM).
NN invests in real estate through both direct ownership of buildings (‘direct portfolio’) and indirect investment via non-listed real estate funds (‘indirect portfolio’). NN Group's direct portfolio scored 92 out of 100 in the GREBS benchmark, up 5 points from 2022. The score is 11 points higher than the peer group average of 81 and 17 points above the GRESB average of 75. The overall GRESB score for the total portfolio, direct and indirect combined, will be published by NN Group in its annual report.
The leading GRESB 2023 ranking and the improvement on last year’s score for the direct portfolio have been the result of successful efforts to reduce energy usage across the portfolio, as well as the increased use of renewable energy via the installation of solar panels, smart installations, and so on. In addition to these efforts by NN Group, CBRE IM took steps to further reduce greenhouse gas emissions across the portfolio and increase water data coverage across all asset classes.
Marieke van Kamp, Head of Private Markets at NN, said: “NN is committed to achieving net-zero emissions, and we have pledged to more than double our investments in climate solutions by 2030. Energy-efficient real estate plays a vital role in this, next to investments in renewable infrastructure and green bonds. This five-star GRESB ranking and our position at the forefront of the peer group – Western European diversified portfolios – is evidence of that commitment. We are very pleased with this strong result, which we view as a blueprint to make the rest of the portfolio more sustainable as well.”
Marije Braam-Mesken, Senior Portfolio Manager at CBRE IM, said: “We have been dedicated to improving the GRESB score as we understand to drive long-term outperformance in the real estate that we manage, sustainable energy-efficient investment is fundamental. It is rewarding to see these efforts yield such excellent results – NN’s direct portfolio is now GRESB’s premier Western European diversified core fund.”
GRESB is a mission-driven and industry-led organisation that provides actionable and transparent environmental, social and governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for global real estate and infrastructure investments, providing standardised and validated ESG data.