NEINVER and Nuveen once again achieve highest GRESB rating 

NEINVER and Nuveen Real Estate have obtained the top 5-star rating in the 2024 Global Real Estate Sustainability Benchmark for Neptune – a joint venture between NEINVER and Nuveen’s parent company, TIAA – marking its fifth straight year achieving this top rating and outperforming last year’s scores on both ESG management and performance.

GRESB analysed the ESG performance of the portfolio managed by NEINVER under its joint venture, which includes 15 assets (13 outlet centres and two retail and leisure parks) operating across 5 countries: France, Italy, Poland, Spain and the Netherlands. Among its peers in the “Retail, Europe” category, Neptune ranked in the top 25 percent of the classification.

Neptune’s overall GRESB score of 91 out of 100 is well above the peer average (81) and GRESB average (76), achieving notable scores of 30 out of 30 points for management and 61 out of 70 for performance in this year’s assessment. The JV received top scores across numerous categories including leadership, policies, reporting, risk management and assessment, data monitoring and review, as well as building certifications.

The improved performance was the result of various sustainability achievements in 2023, including the assessment of physical climate risks and definition of adaptation plans; the achievement of BREEAM certification for the entire portfolio, with the majority of the assets achieving an Excellent or Outstanding rating in building management; the Zero Waste re-certification ratio rising to 87 percent of waste recycled across the assets; introduction of a community engagement framework allowing improved measurement of how its activities impact local communities.

NEINVER also recently took an important step forward in its sustainability agenda by announcing a new Net Zero Carbon Roadmap. This comprehensive plan aims to advance in three strategic areas: increase on-site renewable energy; increase energy efficiency and engage with tenants to lower their GHG emissions and energy consumption with the goal of accelerating actions towards achieving net zero carbon buildings by 2040.

NEINVER’s ESG & sustainability strategy Building Tomorrow, which provides a clear roadmap for our company and operations has been key to achieving these excellent results. As an investor, developer and operator, NEINVER focuses on the transition towards low carbon emissions real estate and promotes the change towards a more sustainable, circular and socially responsible retail sector.