Embassy REIT Awarded 4-Star GRESB Green Rating
October 19 2021 - 3:31AM
Business Wire
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.”
About Embassy REIT
Embassy REIT is India’s first publicly listed Real Estate
Investment Trust. Embassy REIT owns and operates a 42.4 million
square feet (“msf”) portfolio of eight infrastructure-like office
parks and four city‑centre office buildings in India’s
best-performing office markets of Bangalore, Mumbai, Pune, and the
National Capital Region (“NCR”). Embassy REIT’s portfolio comprises
32.3 msf completed operating area and is home to 190 of the world’s
leading companies. The portfolio also comprises strategic
amenities, including two operational business hotels, four
under‑construction hotels, and a 100MW solar park supplying
renewable energy to tenants.
About GRESB
GRESB is a mission-driven and industry-led organization that
provides actionable and transparent environmental, social and
governance (ESG) data to financial markets. Created in 2009, GRESB
assessments are guided by what investors and the industry consider
to be material issues in the sustainability performance of real
asset investments and are aligned with international reporting
frameworks.
A member-based organization, GRESB is trusted by 140
institutional investors and more than 2,200 fund managers,
companies and asset operators to improve decision-making. In 2021,
more than 1,500 property companies, REITs, funds and developers
participated in the Real Estate Assessment, representing $5.7
trillion in assets under management. The Assessment covers nearly
117,000 assets across 66 countries. For more details, refer
www.GRESB.com.
Disclaimer
This press release is prepared for general information purposes
only. The information contained herein is based on management
information and estimates. It is only current as of its date, has
not been independently verified and may be subject to change
without notice. Embassy Office Parks Management Services Private
Limited (“the Manager”) in its capacity as the Manager of Embassy
REIT, and Embassy REIT make no representation or warranty, express
or implied, as to, and do not accept any responsibility or
liability with respect to, the fairness and completeness of the
content hereof. Each recipient will be solely responsible for its
own investigation, assessment and analysis of the market and the
market position of Embassy REIT. Embassy REIT does not provide any
guarantee or assurance with respect to any distribution or the
trading price of its units.
This press release contains forward-looking statements based on
the currently held beliefs, opinions and assumptions of the
Manager. Forward-looking statements involve known and unknown
risks, uncertainties and other factors, which may cause the actual
results, financial condition, performance, or achievements of
Embassy REIT or industry results, to differ materially from the
results, financial condition, performance or achievements expressed
or implied by such forward-looking statements. Given these risks,
uncertainties and other factors, including the impact of COVID-19
on us, our occupiers and the Indian and global economies,
recipients of this press release are cautioned not to place undue
reliance on these forward-looking statements. The Manager disclaims
any obligation to update these forward-looking statements to
reflect future events or developments or the impact of events which
cannot currently be ascertained, such as COVID-19. In addition to
statements which are forward looking by reason of context, the
words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’,
‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or
‘continue’ and similar expressions identify forward-looking
statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211019005541/en/
For more information please contact:
Abhishek Agarwal Head of Investor Relations and
Communications Email: ir@embassyofficeparks.com Phone: +91 80 4722
2222
Sowmya Shenoy Media Relations Email:
sowmya.s@embassyofficeparks.com Phone: +91 9663699991