Environment, Social and Governance (“ESG”) Matters are a key priority to CEREIT
Some recent highlights:
- GRESB1 increased CEREIT’s rating to 67 points (rating for 2018 rating received in 2019) from 47 points (rating for 2017 received in 2018)
- CEREIT now outperforms its peer group (European diversified >€1 billion funds) in five of seven rating areas: Management, Policy & Disclosure, Monitoring & EMS2, Performance Indicators and Building Certifications
- CEREIT was rated “A” for its public disclosure, compared to an average of “C” for all GRESB participating funds and an average of “B” for listed Singaporean peers
- CEREIT’s objective is to certify another 10 properties for BREEAM3 in-use asset level certification in 2020, on top of the five already existing green building certifications (four BREEAM, one LEED4)
CEO's Message on Sustainability
CEREIT’s core objectives are to provide Unitholders with regular and stable distributions and deliver long-term net asset value growth. The Board has set a strategic direction for the management team to achieve this through executing the following key strategies: active asset management, acquiring for growth, responsible capital management and a best-practice approach to corporate governance and sustainability.
For CEREIT’s inaugural Sustainability Report, ten material ESG matters were identified through a formal materiality assessment exercise facilitated by EY, which involved key stakeholders from the Sponsor, the Manager and the Property Manager. CEREIT’s sustainability approach presented in this report has been formulated to report on the initiatives and targets under each of these matters, striking a balance between financial results and corporate governance, internal and external stakeholder engagement and environmental stewardship. The Board oversees the management and monitoring of these ESG matters, supported by the management team.
CEREIT’s sustainability journey is just beginning. The Board looks forward to the support of all stakeholders in creating a sustainable future for generations to come.
CEREIT Sustainability Commitments
The CEREIT Manager has committed to clearly defined sustainability targets that are measured and monitored. Senior management team has Key Performance Indicators focused on specific ESG targets:
1. GRESB is a leading environmental, social, and governance (“ESG”) benchmark for real assets
2.Environmental Management Systems
3. BREEAM refers to the Building Research Establishment Environmental Assessment Method, the world’s leading sustainability assessment method for master planning projects, infrastructure and buildings. It recognises and reflects the value in higher-performing assets across the built environment lifecycle, from new construction to in-use and refurbishment. BREEAM is used as an asset-level sustainability certification
4.LEED refers to Leadership in Engineering and Design, a certification program focused primarily on new, commercial building projects and based upon a points system. LEED-certified buildings, when well maintained, produce less waste products and are more energy-efficient than they would be otherwise