Genesis Property, an active office developer in Romania, became the first real estate company in Romania in 2024 to participate in the ESG performance assessment and benchmarking process organized by GRESB (Global Real Estate Sustainability Benchmark). Through this process, the company was awarded the “Green Star” rating, recognizing and appreciating the quality of its sustainability management. This rating is granted only to real estate portfolios that demonstrate full integration of ESG aspects into their operations.
“This recognition demonstrates the significant importance we place on integrating sustainability and ESG factors into the investment and operational strategy of our real estate portfolios. It legitimizes the hard work our team puts into enhancing the quality of Genesis Property’s portfolio performance and encourages us to continue on this path. Our strategy in this area aims to strengthen investment and operational processes by reducing risks, improving efficiency, and increasing tenant satisfaction. We believe this recognition reflects our organization’s commitment to effective governance, community engagement, and minimizing environmental impact,” said Ioan Bejan, Sustainability Director, Genesis Property.
Each year, GRESB evaluates and benchmarks the ESG performance of real estate assets on a global scale, providing financial markets with greater clarity and extensive information on complex sustainability topics.
GRESB assessments are guided by what investors and the industry consider to be materially significant aspects of real estate assets’ sustainability performance, aligned with existing international reporting frameworks, evolving objectives, and regulations. This year, a record number of 2,223 real estate portfolios, both listed and unlisted entities from 80 global markets, were evaluated by GRESB, with a gross asset value of $7 trillion.
The information and data provided by GRESB are used by many financial institutions and thousands of asset managers worldwide to benchmark the performance of real estate investment portfolios and to better understand the opportunities, risks, and choices they need to make as the industry transitions toward a more sustainable future.
“Each year, the GRESB assessment serves as a powerful reminder of the positive impact that companies’ sustainability efforts can have on our industry and beyond. The continuous growth of the GRESB assessment and the dedication of participating members, as reflected in this year’s results, are clear indicators that the real estate industry is making real strides toward a greener future. We congratulate and support the team at Genesis Property for its ongoing commitment to sustainable development,” said Sebastien Roussotte, CEO of GRESB.
This achievement is part of the company’s sustainability strategy, through which it aims to become a leader in Romania’s real estate sector in promoting sustainable development. Recently, Genesis Property received the BREEAM Outstanding certification for Building F in the innovative YUNITY Park business campus, home to renowned companies such as Hewlett Packard Enterprise, HP Inc., Garanti BBVA, Luxoft, and Yokogawa.
In 2021, Genesis Property became the first company with 100 percent Romanian capital to join the United Nations Global Compact, committing to support its 10 principles on human rights, labour, environmental protection, and anti-corruption. Beginning this year, Genesis Property measures and reports its environmental, social, and governance (ESG) performance to the Global Real Estate Sustainability Benchmark (GRESB). Recently, the company received approval from the Science Based Targets Initiative (SBTi) for registering its near-term and long-term emission reduction commitments. Moreover, for its near-term target, Genesis Property obtained SBTi validation in 2023, shortly after releasing its first report on Scope 1 and Scope 2 greenhouse gas emissions, prepared according to the GHG Protocol methodology.
