CapMan Real Estate press release
2 October 2023 at 16:30 EEST
CapMan Real Estate improves GRESB results across the board, two funds receive four-star ratings
CapMan Real Estate improved its GRESB results across the board in 2023. Highlights of the year were CapMan Nordic Property Income Fund (CMNPI) and Hotels II (CMH-II) fund which both jumped from a two-star rating in 2022 to a four-star rating in 2023. CapMan Nordic Real Estate (CMNRE) II and CapMan Residential Fund (CMRF) both improved their assessments as compared to last year and received three-star ratings. CMNRE III participated in the assessment for the first time and received a three-star rating.
GRESB assesses and compares the ESG performance of real assets globally and has become the go-to benchmark for asset managers and investors when it comes to ESG performance of different funds and companies. Assessments are made on a scale of 1 to 100 points which reflect GRESB ratings ranging from one to five stars.
CapMan Real Estates funds performed very well in this year’s GRESB assessments. The average improvement across funds was 11 points, a testament of the systematic investments made into sustainability throughout the last years.
The CMNPI and Hotels II funds both participated in the GRESB assessment for the second year in row and jumped from two-star to four-star ratings. These results were achieved through a combination of CapMan Real Estate wide sustainability developments and concrete actions performed across the funds’ assets. CapMan Real Estate wide sustainability targets were set, sustainability policies and tools created, and personnel remuneration was linked to sustainability targets. The CMNPI fund reduced the like-for-like energy consumption, greenhouse gas (GHG) emissions, and improved waste data availability. The Hotels II fund, improved energy efficiency, updated its energy performance certificates, performed energy surveys and improved data quality and availability. Both funds improved their tenant engagement, sustainability risk assessments and increased their share of green building certifications.
“I’m proud to see the work done in the last years reflected in these results. Sustainability is an integrated part of the Hotels II funds strategy, and our asset managers have in coordination with our partners worked systematically to decrease energy consumption, GHG emissions and improve other sustainability related characteristics of our assets. We look forward to a continued collaboration with our partners to generate more sustainable value”, says Thomas Laakso, Partner at CapMan Real Estate.
CMNRE II participated for the third year in row, increased their points and received three stars. CMNRE III participated in the assessment for the first time and received three stars, an excellent first-time result. CMRF also improved their points and received a three-star rating once again as they participated for the second year in a row.
“These results highlight the systematic work we have done throughout 2022 to improve our investment and asset management practices from a sustainability perspective. We developed and implemented a new ESG strategy as well as multiple policies, guidelines, tools, and process which were put to work throughout our portfolio. Our asset managers have been in a key position here, concretely driving the change together with our partners. We achieved energy, GHG emissions and water savings in many funds, and this is where we will continue to focus going forward”, says Anna Rannisto, ESG Manager at CapMan Real Estate.
“During the past few years, we have made significant investments into establishing and truly integrating sustainability across CapMan. Our collaborative approach on sustainability topics allows us to draw knowledge across investment teams and utilize that throughout the group as we drive sustainable transformations across industries in the Nordics. I am very happy to see the excellent work done at CapMan Real Estate also reflected in this year’s GRESB results”, shares Anna Olsson, Head of Sustainability at CapMan.
The GRESB assessment results presented in this release reflect standing investments performance during 2022. CapMan Real Estate also participated in the assessments of development investments in which CMRF and CMNRE III received three stars and CMNRE II and CMH-II received two stars.
For more information, please contact:
Anna Rannisto, ESG Manager at CapMan Real Estate, +358 40 6266 383
Thomas Laakso, Partner at CapMan Real Estate, +41 79 346 70 17
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With €5.1 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business consists of procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.
About GRESB
GRESB is a mission-driven and industry-led organization 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 170 institutional and financial investors to inform decision-making. GRESB standards are governed by the independent, not-for-profit GRESB Foundation, while ESG assessments are managed by GRESB BV, a benefit corporation. For more information, visit GRESB.com
