CapMan Real Estate Residential Fund (CMRF) receives three stars in GRESB’s annual ESG assessment of real estate funds
GRESB assesses and compares the ESG management and performance of real estate funds globally and has become the go-to benchmark for asset managers and investors when it comes to reviewing ESG performance of different real estate funds.
CapMan Residential Fund (CMRF) participated in the GRESB Real Estate Assessment for the first time this year and was awarded 3 stars which is an excellent result as a first-year participant. The fund achieved 74 points (out of 100). This year the GRESB average score was also 74 points.
CMRF’s strengths in the GRESB assessment compared to peers were its share of green building certifications, reporting, stakeholder engagement, waste management and the ESG targets it has set going forward. During 2022 CapMan Real Estate has focused on improving its performance in identified development areas such as tenant engagement and technical risk assessment and initiated actions such as the Science Based Targets project, tenant satisfaction surveys and introducing automatic water and energy consumption monitoring systems to its assets.
“The results are in line with our expectations, and we look forward to further improving our scores for all funds in next year’s evaluations. On our agenda are several actions which we believe will support us on this journey, amongst them our annual tenant survey, establishing green leases, developing our ESG processes, policies, and guidelines, setting ESG targets, automating our ESG data management and working on the green building certification of several properties,” says Anna Rannisto, ESG Manager at CapMan Real Estate.
CapMan Hotels II and CapMan Nordic Property Income Fund (CMNPI) also participated in the GRESB Real Estate Assessment for the first time this year and received both 2 stars. CapMan Nordic Real Estate II Fund participated in the assessment for the second time, and improved its score, receiving 70 points (6 points more than last year).
The GRESB assessment reflects performance during 2021.
About GRESB
GRESB is a mission-driven and industry-led organisation providing standardized and validated Environmental, Social and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by over 170 institutional investors and more than 2,000 fund managers, companies, and asset operators to make informed decisions based on ESG data. For more information, visit GRESB.com
