Global Real Estate Sustainability Benchmark (GRESB) have given "Green Star" Status to two funds under Principal Real Estate Investors.
This would be the second consecutive year that the Principal Real Estate Investors have received a multiple "Green Star" Status, the highest ranking (GRESB) provides.
The 2015 survey of the Global Real Estate Sustainability Benchmark have more than 700 participants that represent 61,000 properties with $2.3 trillion in gross asset value. The annual survey by the GRESB Foundation discloses material environmental, social, and governance (ESG) performance at the fund level. This ESG performance include energy and water consumption, green building and energy certification, sustainability risk assessments, governance and stakeholder engagement.
In a press release posted on Market Watch, Jennifer McConkey, Director of Operations and Sustainability at Principal Real Estate Investors shared that multiple "Green Star" status is not the only achievement that the Principal Real Estate Investors received this year.
"Principal Real Estate Investors not only ranked among the leaders with our multiple Green Star designations, but we also achieved a perfect score in the Management category recognizing our defined philosophy, objectives and management processes around sustainability. This is a function of our ESG platform - the Pillars of Responsible Property Investing (PRPI),"said McConkey. "The PRPI initiative is a comprehensive framework that focuses on optimizing building performance, reducing energy consumption and strengthening the communities in which we invest."
Principal Real Estate Investors also recently received an "A" rating, in the 2015 Principles for Responsible Investment (PRI) pilot Assessment Report surpassing the median score of "C".
Pat Halter, CEO of Principal Real Estate Investors, views the award and achievement received by the Principal Real Estate Investors "as a sign of quality asset management and fiduciary governance" and she believes that these recognitions "validates the hard work we do every day on behalf of our clients and investors."
