13 September 2018
Grosvenor Europe reports sustainability achievements in GRESB 2018
Grosvenor Europe (Grosvenor), one of four operating companies of the privately-owned international property group, Grosvenor Group, has achieved 5 Green Stars in the annual Global Real Estate Sustainability Benchmark (GRESB).
GRESB assesses the sustainability performance of real estate and infrastructure portfolios and assets worldwide. As part of the corporate rankings, Grosvenor Europe scored 83 points, 9 points ahead of our peer group, reflecting our commitment to making a lasting positive contribution to the places in which we are active.
The Grosvenor European Retail Partnership (GERP) Fund, which owns a portfolio of Swedish shopping centres, achieved a new Green Star, securing 4 star status, and ranking 8 points ahead of the peer group average and 20 points ahead of the GRESB average.
Our portfolio was acknowledged for strong sustainability performance, following the BREEAM certification of three centres and having achieved a 1.5% reduction in energy consumption and a 16.2% reduction in water usage, the equivalent of five Olympic swimming pools.
Social sustainability also delivered strong results, with Skärholmen Centrum, part of the Retail Centres V Fund, maintaining 3 star status and increasing its score to 68 points. It ranked particularly highly for governance and social responsibility, with scores above the peer group average, reflecting our commitment to working with local groups such as Mitt 127, and the municipality, to deliver positive benefit in the community.
Lidingö Centrum, acquired this spring, was not included in this study.
Liverpool ONE, part of the Grosvenor Liverpool Fund, retained its 5 star ranking, improving its score to 84 (2017: 79). It achieved a 14% reduction in electric consumption due to an increased contribution from solar power generated energy.
Sara Lucas, Executive Director, Portfolio, Grosvenor Europe, said: “Grosvenor takes a long-term view of its responsibilities and activities, with sustainability considerations an important factor in all investment, asset management and development decisions. This approach is driven by our Living Cities philosophy, which guides us to make investments which deliver lasting commercial and social benefit to the communities in which we operate.
“To achieve this, we aim for continuous improvement in performance, through measurement and monitoring, and are thrilled that so many of our vehicles and assets have been recognised for their contributions in this area.”
Since inception in 2009, GRESB has established itself as a roadmap to high sustainability performance for the real estate sector. This allows the collation of comprehensive data about energy performance, carbon management, water conservation, waste management and health and wellbeing across the industry.
GRESB annually reviews the sustainability work of large property companies and funds based on an ESG (Environmental, Social and Governance) perspective. Over 903 companies and funds, 75 infrastructure funds, 280 infrastructure assets and 25 debt portfolios were assessed.
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Notes to Editors
About Grosvenor Europe
Grosvenor Europe invests in, develops, operates and manages real estate assets and funds, with a focus on vibrant European cities including Paris, Stockholm, Madrid and Liverpool.
Part of the Grosvenor Group, one of the world’s largest privately-owned property companies and active in more than 60 cities around the world, we utilise our local expertise to adopt a far-sighted, value-add approach in order to deliver lasting commercial and social benefit in the places where we are active.
As at 31 December 2017 we managed £2.4bn/€2.7bn of assets, including Liverpool ONE in the UK (which celebrates its 10th anniversary in 2018) and Skärholmen Centrum shopping centre in Stockholm, Sweden. We also have a number of active residential development projects in Madrid, Spain.