GLP Strengthens ESG Performance in 2022 GRESB Assessment
18 real estate funds submitted to the global ESG benchmark
Singapore, 18 October 2022 – GLP announced today outstanding results in the 2022 GRESB assessment, the leading global environmental social and governance (“ESG”) benchmark for real estate and infrastructure investments across the world. Eighteen funds across Asia, Europe and the Americas comprising 55% of GLP’s real estate assets under management and 47% of its gross floor area were submitted for assessment.
GLP has seen consistent improvement in performance since its inaugural GRESB submission in 2013. All Japan income and development funds were awarded the highest possible five-star rating, with GLP J-REIT and GLP Japan Development Venture II (“GLP JDV II”) ranking first in the global listed industrial funds and non-listed opportunistic industrial funds category, and GLP Japan Income Partners I (“GLP JIP I”) ranking first among all industrial funds in Asia. Four out of five funds were recognized as “Regional Sector Leader” within the industrial category in Asia. Notably, J-REIT and GLP JIP I also received top honors as “Global Sector Leader” in the industrial category.
GLP China Logistics Fund I (“GLP CLF I”) ranked first among its peers in the industrial non-listed opportunistic category with a four-star rating. GLP China Logistics Fund II (“GLP CLF II”) received a Green Star in its first year of participation. In July 2022, the 2013-vintage GLP CLF I was recapitalized via a US$5 billion transaction to form China’s largest-ever private logistics real estate income fund, GLP China Income Partners V (“GLP CIP V”).
Four income and development funds in Brazil submitted first time assessments and all received Green Star status. Four funds across investment strategies in Europe that were eligible for GRESB submitted in 2022 received Green Star status. Notably, Europe’s development funds, GLP Europe Development Partners I (“EDP”) and GLP Continental Europe Development Partners I (“CDP”), continue to score highly. GLP EDP ranked in the top three amongst peers for GRESB Development scoring and GLP Europe Income Partners II (“EIP”) scored particularly well for a first-time reporting fund.
Meredith Balenske, Head of Global Sustainability, said: “The significant increase in the number of fund submissions to GRESB reflects our deep commitment to embedding ESG into our investment and asset management processes and upholding our responsibility as leaders in our industry. This achievement is a testament to the hard work and dedication of our regional teams and the groundwork that has been laid.”
GRESB is a widely recognized measure of sustainability performance of real estate companies and funds globally. The 2022 benchmark assessed 1820 listed and non-listed portfolios 74 countries, covering US$6.9 trillion in assets under management.
About ESG at GLP
GLP is committed to a broad range of ESG commitments that elevate our business, protect the interest of our shareholders and investors, support our employees and customers and enhance our local communities. GLP is a signatory of the United Nations-supported Principles for Responsible Investment (PRI) and a member of the US Green Building Council (USGBC). GLP participates in Planet Mark accreditation in Europe, Hong Kong and Singapore. As of 30 December 2021, 343 of GLP’s real estate assets have received globally recognized green building certifications and we are committed to building and achieving certifications for our logistics real estate development globally.