a.s.r. real estate

Improved GRESB scores for a.s.r. real estate funds

The continual commitment to long term sustainable investments has led to the further improvement of the GRESB score of the a.s.r. real estate funds. The ASR Dutch Core Residential Fund improved its GRESB score by 11.1% to 80 points, improving to a 7th place in the peer group and maintained its four-star status. The ASR Dutch Prime retail Fund improved its score by 9.1% to 72. The Fund maintained its three-star status. The ASR Dutch Mobility Office Fund took part in its first GRESB survey and scored above the GRESB and their peer group average, achieving a three-star ranking, scoring 70 points.

Four stars for ASR Dutch Core Residential Fund
undefinedThe ASR Dutch Core Residential Fund once again improved its score in 2018 to 80 points (out of 100 points), which is in increase of 8 points compared to 2017. Just like last year, the Fund obtained a four-star rating, scored above average and improved its place in the peer group from 9th to 7th (out of 13).

The outstanding improvement is mainly the result of the Fund’s continuing commitment to its large scale  renovation projects. As an example, in 2017 the Fund renovated three large properties (389 dwellings) two of which have been in a.s.r. ownership since the 1970’s, from an energy label F/G to A. Besides these improvements, the Fund’s implementation of the new DGBC’s Green Building Certification Scheme for residential buildings significantly improved the score. undefined

The Fund showed a particularly strong outperformance for the ESG themes Social (S) and Governance (G), scoring 98 out of 100 in both areas, well above the benchmark. This demonstrates the Fund’s high-quality sustainability governance, which is achieved through its firm/detailed/in-depth policies and procedures, but also its relationship with- and impact on its stakeholders regarding sustainability. The Fund showed the largest improvement on the Environment (E) theme, increasing its score by 21.4% compared to last year. 

Improved score for ASR Dutch Prime Retail Fund
undefinedThe ASR Dutch Prime Retail Fund improved its GRESB score to 72 points, compared to 66 in 2017.
The improvement is spread across different themes, with the biggest increase in the area of ‘Building Certificates’, through the successful BREEAM certification of two district shopping centers. The efforts the Fund made last year to optimize its CSR policy can be seen in the significant improvement of ‘Policy & Disclosure’ to the maximum score of 100.undefined

The Fund showed a particularly strong outperformance on the ESG topic Governance (G), scoring almost fully out of 100 (98). This demonstrates the good quality of the Fund’s governance of sustainability through its firm/detailed/in-depth policies and procedures. ASR DPRF also showed an improvement in both other categories, with the strongest growth on Environment (E) of 19.6%. The Fund is currently taking measures, such as the implementation of a new tenant satisfaction assessment and the improvement of the energy labels, which will further improve these scores.

High score for newcomer ASR Dutch Mobility Office Fund
undefinedThe recently launched ASR Dutch Mobility Office Fund took part in the GRESB Survey for the first time this year, scoring 70 out of 100 points immediately and obtaining a three-star rating. The Fund is even outperforming the benchmark, both the GRESB average as the peer group average. The Fund scored 89 points for ‘Management & Policy' and 64 points on ‘Implementation & Measurement’. undefined

The Fund performed particularly well on the ESG-topic Governance (G) with a very high score of 94 out of 100. This demonstrates the ambitious objectives the Fund imposed on herself through her sustainability policies. The Fund outperformed the office benchmark on the topic Social (S) and scored very close to the benchmark on Environment (E). The emphasis lies on the optimization of the energy performance of the portfolio, so the Fund expects a higher score in next year’s GRESB survey.

GRESB is an independent benchmark that assesses the sustainability policies of real estate investment funds and portfolios around the world. Fund managers can use their GRESB scores as the basis for examining and improving their sustainability policies and implementations.

For more information on the Funds and its sustainable efforts, please contact Lizzy Butink.

Lizzy Butink
Sustainablity manager 
a.s.r. real estate
M: +31 (0)6 51 19 07 74
E: lizzy.butink@asr.nl