The result was above the GRESB benchmark-wide average score of 74 points and its peer group average of 70 points, and is a two point improvement from 80 points in 2021. The maximum 100 per cent was achieved for “ESG policies”, “reporting”, “targets” and “data monitoring and review”.
This recognition demonstrates Pradera’s continuing commitment to ESG and represents an improvement of more than two times from PERP’s first GRESB Real Estate Assessment post acquisition in 2017 of 40 points. The retail park portfolio’s environmental impact in the 2022 GRESB survey included a 12.6 per cent reduction in water usage and an 11.2 per cent reduction in Scope 3 greenhouse gas emissions.
Colin Campbell, Pradera’s Chairman, said: “Generating value for our investors in an ethical and sustainable way is Pradera’s key priority. This year’s GRESB score showcases Pradera’s strong ESG credentials, which Pradera will use as a basis to add further value to the PERP portfolio by identifying areas for further improvement in order to increase both the performance and the resilience of the assets. As part of this approach, Pradera will implement proactive ESG initiatives and is committed to a further roll-out of the Building Research Establishment Environmental Assessment Method (“BREEAM”) certification process”.
Pradera European Retail Parks SCSp (‘PERP’) is a specialist property fund focused exclusively on the retail parks sector in France, Germany and CEE. The fund was launched in April 2017 and has a portfolio of 18 retail parks and shopping centers.