CBRE Global Investors (CBRE GI) is planning to implement a sustainability assessment methodology across its $41bn (€36.6bn) direct private real estate portfolio in Europe, the Middle East and Africa (EMEA).
The investment firm has joined forces with BRE to apply the BREEAM In-Use International 2015 (BIU) energy performance certification across the portfolio of more than 360 assets over a five-year period.
The BIU scheme provides a sustainable certification that allows CBRE GI to measure, manage, track and enhance the operation of all of their asset portfolio.
The digital platform will allow CBRE GI to compare the performance of assets across different funds and territories so that asset managers can learn from each other to make improvements, CBRE GI said.
To allow the large volume of assessments to be managed more quickly and efficiently, CBRE GI and BRE will issue a joint request for proposals (RFP) for BREEAM assessors.
Aleksandra Njagulj, head of global ESG at CBRE GI, said: “We understand the significant impact the built environment has on the global environment and believe that we have a responsibility to incorporate and demonstrate ESG best practices in all of our corporate and investment management activities.
“The greatest sustainability impact is achieved through responsible portfolio management of standing assets.”
James Fisher, head of real assets for BREEAM at BRE, said: “We have been discussing the idea of a new RFP approach for large portfolio BREEAM projects for some time now and are very proud that CBRE GI will join us on this full implementation.
“The aim is to keep driving innovation in the delivery of BREEAM as the value case becomes more and more clear.”