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ANREV recognizes the impact the real estate industry has on the planet and the role it must play in the transition towards to a more sustainable future. The importance of environmental, social, and governance (ESG) considerations in the design, operation and valuation of assets has never been higher and ANREV are proud to be contributing to real change in the industry.
ANREV actively supports and promotes the adoption of the INREV Sustainability Reporting Guidelines, which provides a coherent framework for ESG reporting in line with financial reporting and is aligned with industry best practice reporting such as GRESB, GRI and UN-PRI. These reporting guidelines give increased visibility and insight into a vehicle's ESG approach and performance.
ANREV will encourage members to:
- adopt holistic green building certifications at asset level
- analyze their portfolio exposure to physical hazards of climate change and transitional risks of climate change (via measurement against appropriate pathways or benchmarks)
- set both short and long term GHG emission targets for Scope 1, 2 and 3 (where applicable) to achieve "net zero" by 2050
- promote inclusivity, diversity, and fair employment practices within their workforces and supply chains
- have strong corporate governance practices, including robust risk management frameworks, whistleblower mechanisms and internal controls covering all aspects of operation
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Sustainability Guidelines
Launched in January 2023, the new INREV Sustainability module includes guidelines for developing an ESG strategy for real estate investment vehicles and guides users on how to implement ESG best practices into their day-to-day operations.
The INREV Sustainability module provides a generic framework for real estate investment vehicles to appropriately consider ESG goals, alongside other business objectives, as part of their overall strategy development. The module then guides users in implementing these goals through an appropriate governance framework established by the investment manager in collaboration with the governing body of the relevant vehicle. This involves establishing and empowering certain roles in an appropriate organisational model and embedding ESG considerations in key business processes. The module also emphasises the importance of effective and regular monitoring throughout the vehicle's life.
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Sustainability Links
To promote best practices in the region through publication of sustainability case studies.
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ANREV ESG Library
ANREV aims to share Sustainability case studies which are intended to cover topics related to sustainability best practices in order to promote those best practices in the Asia Pacific region.
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Global ESG Library
ESG (Environmental, Social and Governance) continues to gain momentum across the non-listed real estate sector, impacting today's business strategies, social and financial returns, and company ethos.
To continue to shine light on this topic through industry awareness, ANREV and INREV are working together to highlight the importance of ESG within the industry by encouraging investors and investment managers to have meaningful dialogue and resources regarding ESG practice.
ESG Committee
In order to support the drive for more sustainable real estate funds, this committee develops guidance for funds so they can incorporate sustainability issues into their regular reporting to investors.
