Press release
Principal Asset Management℠ Real Estate Strategies Receive 4-Star Rating From Global Real Estate Sustainability Benchmark in 2023
Four-star GRESB rating for Principal real estate strategies showcases its long-standing commitment to sustainable investment DES MOINES, Iowa--(BUSINESS
About this update from Principal Financial Group Inc
[{"type":"text","content":"\nFour-star GRESB rating for Principal real estate strategies showcases its long-standing commitment to sustainable investment\n\n\n DES MOINES, Iowa--(BUSINESS WIRE)--\nPrincipal Asset Management℠ announced today that its United States real estate core strategy and two European real estate core property strategies received a 4-star rating in 2023 from the Global Real Estate Sustainability Benchmark (GRESB). This year marks the eighth consecutive year Principal’s U.S. real estate core strategy has earned a 4-star rating from GRESB.\n\n\nThis year’s ratings place all three Principal strategies in the top 40% of GRESB participants worldwide1 and exhibit a long-standing commitment by Principal to integrate sustainability standards into its investment practices while pursuing positive financial results for clients. Ten strategies also received the green-star rating, which is awarded to entities with scores higher than 15 out of 30 on the Management and 35 out of 70 on Performance components.\n\n\n\"We are committed to implementing the latest innovations in the real estate industry to help clients achieve positive financial outcomes in addition to sustainability practices,\" said Jennifer McConkey, managing director of ESG and operations for Principal Asset Management. \"Our strong GRESB performance over the past eight years is evidence of the success of our Pillars of Responsible Property Investing platform and the ability of funds to continually implement new ESG practices and perform well against their peers in North America and Europe.\"\n\n\nIn total, Principal Asset Management submitted five U.S. real estate funds and seven European real estate funds for participation in GRESB in 2023. All strategies scored 30 out of 30 points on the Management component that covers leadership, policies, reporting, risk management, and stakeholder engagement. Several strategies showed increased scores in the Performance component for building certifications, improved data coverage, and year-over-year performance on water and waste.\n\n\nThe Pillars of Responsible Property Investing is the overarching sustainability platform for the firm’s dedicated real estate investment team. This platform guides the implementation of sustainability throughout the property life cycle as it seeks to invest in and lend on real estate that delivers positive finan...