LaSalle’s Asia-focused funds rank higher in Global Real Estate Sustainability Benchmark
HONG KONG (September 25, 2017) — LaSalle Investment Management (“LaSalle”) is pleased to announce that it has achieved higher environmental, social responsibility and corporate governance (“ESG”) rankings for its LaSalle Asia Opportunity Fund IV (“LAOF IV”), LaSalle Japan Logistics Fund III (“JLF III”) and LaSalle Logiport REIT (“Logi-REIT”), according to the 2017 Global Real Estate Sustainability Benchmark (“GRESB”) Survey.
All three of these Asia-focused funds saw significant year-on-year improvements across the board in their sustainability scores, star ratings as well as rankings compared to peers, as established by the GRESB Scoring Model and peer benchmarking.
- JLF III’s GRESB score rose by 19 points (37%) to 71, with its GRESB Rating increasing to four stars from two, and ranks second among its peer group of six under the Developer – Industrial peer set.
- LAOF IV’s GRESB score rose by 14 points (25%) to 69, with its GRESB Rating climbing to three stars from two. It ranks 23rd out of 60 under the Asia/ Non-Listed category
- Logi-REIT’s score increased by 17 points (33%) to 68, and GRESB Rating improved to three from two, ranking third of six in the Industrial – Asia – Listed peer group.
Globally, LaSalle achieved eight (8) Green Stars this year – a noteworthy accomplishment in what is now LaSalle’s tenth year of commitment as a firm to sustainability. Importantly, LaSalle is seeing significant year-over-year improvements in both Management & Policy (M&P) and Implementation & Measurement (I&M) scores.
LaSalle believes that environmental, social, and governance best practices enhance the investment performance of its clients’ assets. With the guidance of its Global Sustainability Committee and a dedicated ESG policy, LaSalle’s portfolio and property teams follow a comprehensive set of ESG metrics and have made sustainability an integral part of their performance indicators. The firm’s regional sustainability taskforces are working on rolling out further sustainability initiatives across all of LaSalle’s business functions.
Tom Miller, Chief Sustainability Officer and Head of Development for LaSalle in Asia Pacific, said: “We are delighted with LAOF IV, JLF III and Logi-REIT’s excellent GRESB survey results this year, the strongest performance since we started participating in the survey. The funds’ performance is testament to LaSalle’s commitment to incorporating ESG objectives and metrics, as well as sustainability best practices, into its business and portfolio strategies over the years. Our corporate and asset teams will continue to make enhancements to our products and processes to reach new heights in sustainability.”
GRESB results are used by investors, representing over USD 17 trillion in institutional capital, to engage with investment managers with the aim of improving the ESG performance of their investment portfolios. GRESB data provides insights into how ESG-related risks are managed, so that investors can make more informed decisions on the allocation of their capital. With growing numbers of stock exchanges across the world introducing sustainability reporting standards, the demand for transparency on ESG performance is only set to further increase. In order to achieve a ‘Green Star’, a fund must achieve scores over 50 points in both Management & Policy (MP) and Implementation & Measurement (IM). This year, a record 850 property companies, REIT’s, funds and developers participated in the Real Estate Assessment.
For more information about the assessment, please visit the GRESB website: https://gresb.com/2017-real-estate-results/
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $64 billion of assets in private and public real estate property and debt investments as of Q4 2018. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://www.lasalle.com, and LinkedIn.
NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.