Embassy REIT awarded 4-Star GRESB Green Rating
Oct 19, 2021
Bengaluru (Karnataka) [India], October 19 (ANI/BusinessWire India): Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) ("Embassy REIT"), India's first listed REIT and the largest office REIT in Asia by area, is pleased to announce that it has been awarded a 4-star (out of 5 stars) rating in the 2021 Real Estate Assessment by GRESB, the leading global ESG benchmark for real estate and infrastructure investments.
In its first year of participation, Embassy REIT achieved a "Green Star" status and an overall score of 80% for its Standing Investments, placing it 7 percentage points above the average. Embassy REIT stood out in particular on the 'Governance' pillar with a score of 19/20, surpassing the peer average, reflecting the best-in-class framework and strong corporate governance standards adopted and followed by the REIT.
Embassy REIT also achieved high scores for the 'Environmental' (47/62) and 'Social' (14/18) pillars, taking into account the high proportion of electricity from renewable sources and the strong stakeholder programmes in areas of health, education and public infrastructure which have been running for a number of years.
Michael Holland, Chief Executive Officer, Embassy REIT, said,
"We are extremely proud to be awarded a GRESB 4-star rating in our first year of participation in this prestigious global benchmark assessment. Our ESG initiatives comprising 19 distinct programmes around the pillars of Responsible Business, Resilient Planet and Revitalised Communities have always been a significant part of our business philosophy and our multi-year ESG action plan is already underway. We will continue to strengthen our efforts by scaling up our ongoing ESG programs and commitments. The rating also reflects the transparent reporting of our ESG performance to our rapidly growing investor base."
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