CapMan Real Estate Release
11 October 2024 at 08:00 am EEST
CapMan Real Estate improves GRESB results across the board, two funds receive five-star ratings
CapMan Real Estate improved its GRESB results across the board in 2024. Highlights of the year were Hotels II (CMH-II) fund and CapMan Nordic Property Income Fund (CMNPI) which achieved the highest possible rating of five stars, compared to four stars in 2023. CapMan Residential Fund (CMRF), CapMan Nordic Real Estate II (CMNRE II) and CapMan Nordic Real Estate III (CMNRE III) also showed positive momentum, each receiving four-star ratings.
GRESB assesses and compares the ESG performance and management of individual assets and portfolios globally. It has become an established standard, providing valuable insights that support more sustainable investment decisions for asset managers and investors. Assessments are made on a scale of 1 to 100 points which reflect GRESB ratings ranging from one to five stars.
This year’s GRESB results underscore CapMan Real Estate’s continuous commitment to sustainability, with its funds achieving an average improvement of 6.6 points. This success reflects the company’s holistic approach, where both group-wide initiatives and fund-specific measures contribute to continuous improvement in sustainability practices.
The Hotels II and CMNPI funds continued their upward trend in this year’s GRESB assessment, both achieving the highest possible rating of five stars. These results were achieved through a combination of CapMan Real Estate wide sustainability developments and concrete actions performed across the funds’ assets. Both funds increased the number of green building certifications, improved the quality of annual property audits, and conducted external data assurance, which together contributed to their five-star ratings.
Demonstrating their commitment to continuous improvement, CMRF and CMNRE II both secured four-star ratings in the standing investment benchmark, with CMRF increasing its score by 7 points and CMNRE II by 5 points. CMNRE III, participating in the GRESB assessment for only the second time, achieved a 9-point increase, earning a four-star rating. Driving the increased score for CMNRE III were similar actions as for other funds, that is an increased number of green building certifications, external data assurance and improved quality of ESG property audits.
”These results highlight the systematic work we have done throughout 2022-2023 to improve our asset and investment management practices from a sustainability perspective. Going forward, we will continue our focus on meeting our building certification, energy, GHG, water and waste recycling targets – the environmental performance of our assets”, says Anna Rannisto, Sustainability Director at CapMan Real Estate.
“I am proud of the concrete sustainability actions taken across our portfolio and happy to see the hard work of our teams reflected in our annual GRESB ratings. At CapMan Real Estate our aim is to drive sustainability improvements and transitions across our assets that further the objectives of our investors and support the well-being of our tenants and the society at large”, shares Mika Matikainen, Managing Partner at CapMan Real Estate.
The GRESB assessment results presented in this release reflect standing investments performance during 2023. CapMan Real Estate also participated in the GRESB development benchmark in which CMNRE III and CMRF received three stars and CMNRE II received two stars.
For more information, please contact:
Anna Rannisto, Sustainability Director at CapMan Real Estate, +358 40 6266 383
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.8 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com
About GRESB
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 170 institutional and financial investors to inform decision-making. GRESB standards are governed by the independent, not-for-profit GRESB Foundation, while ESG assessments are managed by GRESB BV, a benefit corporation. For more information, visit GRESB.com.
