October 17, 2022
Fiera Real Estate UK (“FRE UK”) is delighted to announce that it has received Global Real Estate Sustainability Benchmark (“GRESB”) Green Star status on all its live funds for the second year running, with the Fiera Real Estate Opportunity Fund UK V (“FREOF V”) increasing its score by 12% and achieving the accolade of five stars.
The Fiera Real Estate Long Income Fund UK (“FRELIF”) saw a 9% increase on last year’s score, which is largely due to improved data coverage across the portfolio, net-zero carbon (“NZC”) audits, as well as tenants’ reduction in utility consumption. This improvement in results is likely to continue going forward, given the publication of the Fund’s NZC pathway target of 2035. This pathway is one of the most ambitious targets set for long income funds in the UK market and is reflective of the significant progress already made in this area.
To complement the business’s successes in the long-income space, FRE UK’s value-add fund, FREOF V performed exceptionally well and exceeded both peer and GRESB averages, landing it the maximum five stars.
Charles Allen, Head of UK Real Estate, commented “We believe we have a crucial part to play in mitigating climate risk across real estate as well as future proofing our investments. We have invested significant resource to ensure we can deliver on our social and net zero carbon commitments, so we are delighted that this has been reflected in our market leading results.”
Jessica Pilz, Global Head of ESG, added “These results are testament to the support shown across the whole of FRE UK. Without dedicated top-down commitment, an ESG strategy is only good on paper. FRE UK places ESG at the heart of everything it does, and that is what will get us to where we need to be.”