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Environmental, social and governance (ESG) factors in real estate are taking an increasingly important part of the investment process. Investors are screening these factors as part of their due diligence process for non-listed real estate vehicles.
The major contribution that the real estate industry can make to the creation of a sustainable environment is widely recognised, and the property investment industry has continuously increased its efforts and activities in this area in the past years. Consequently, sustainability reporting has become a natural part of a company’s annual reports and sustainability initiatives have advanced to play an important role in the operational performance of real estate investment vehicles.
With this in mind, ANREV actively supports the consideration of ESG factors in the non-listed real estate funds industry in the Asia Pacific region in endorsing the INREV Sustainability Guidelines and providing our members with resources and insights.
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Sustainability Guidelines
Launched in January 2023, the new INREV Sustainability module includes guidelines for developing an ESG strategy for real estate investment vehicles and guides users on how to implement ESG best practices into their day-to-day operations.
The INREV Sustainability module provides a generic framework for real estate investment vehicles to appropriately consider ESG goals, alongside other business objectives, as part of their overall strategy development. The module then guides users in implementing these goals through an appropriate governance framework established by the investment manager in collaboration with the governing body of the relevant vehicle. This involves establishing and empowering certain roles in an appropriate organisational model and embedding ESG considerations in key business processes. The module also emphasises the importance of effective and regular monitoring throughout the vehicle’s life.
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Sustainability Links
To promote best practices in the region through publication of sustainability case studies.
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ANREV ESG Library
ANREV aims to share Sustainability case studies which are intended to cover topics related to sustainability best practices in order to promote those best practices in the Asia Pacific region.
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Global ESG Library
ESG (Environmental, Social and Governance) continues to gain momentum across the non-listed real estate sector, impacting today’s business strategies, social and financial returns, and company ethos.
To continue to shine light on this topic through industry awareness, ANREV and INREV are working together to highlight the importance of ESG within the industry by encouraging investors and investment managers to have meaningful dialogue and resources regarding ESG practice.
ESG Committee
In order to support the drive for more sustainable real estate funds, this committee develops guidance for funds so they can incorporate sustainability issues into their regular reporting to investors.
