QuadReal Honoured To Receive Prestigious PREA Institutional Investor ESG Award
Recognizing excellence in incorporating environmental, social and governance factors into commercial real estate investing
QuadReal Property Group (QuadReal), a global real estate company, is pleased to announce it has been selected as the 2022 winner of the prestigious PREA (“Pension Real Estate Association”) Institutional Investor ESG Award. Now in its second year, the award was created to recognise excellence in incorporating Environmental, Social and Governance (ESG) factors into commercial real estate investing. The recipient is determined by an expert panel’s rating of a company’s ESG commitments and programs.
Across QuadReal’s global portfolio, the team is actively applying ESG strategies, tools and approaches relating to green certification, net zero carbon, zero waste, health & well-being, accessibility, engagement (tenant/resident/community), data transparency, and climate risk mitigation.
QuadReal’s winning entry focussed on the diligent progress and achievements it has made since its founding in 2016.
“QuadReal is committed to making a difference in the communities where we work and live and as part of this commitment, we have chosen to accelerate our founding sustainability mandate and focus on achieving net zero for our entire global portfolio by 2050”, says Jamie Gray-Donald, Senior Vice President of Sustainability & Environmental Health & Safety at QuadReal. “Our pathway to net zero includes specific interim targets including creating a proactive plan for our entire portfolio by 2025 and reducing carbon by 50% across our Canadian portfolio by 2030.”
A key component of QuadReal’s ESG strategy is also collaboration with international partners and industry peers to help propel the real estate industry forward in mitigating climate risk. Since 2017, QuadReal has been including ESG reporting requirements into its international partnerships and offering educational workshops coupled with guidance materials to help partners enhance their existing ESG policies and practices. By collaborating with groups like PREA to create guiding materials such as the PREA NCREIF reporting standards, QuadReal aims to encourage open, transparent and informed ESG decision making in the real estate industry.
QuadReal’s assets under management now total $67.1 billion and its capabilities have grown from a full-service real estate operating company in Canada to include global investment in equity and debt in both the public and private markets.
Greg MacKinnon, Director of Research, PREA, said: “The PREA Institutional Investor ESG Awards were founded to recognise excellence in incorporating Environmental, Social and Governance factors into commercial real estate investing. The QuadReal Property Group team exemplifies this progressive mindset, and its results show that commercial real estate can truly have a positive impact on the environment and on the communities within which it operates while, at the same time, achieving excellent investment performance. For its impressive ESG accomplishments, dedication to continuous improvement of its ESG programs, and for serving as an example that ESG performance goes hand-in-hand with investment performance, QuadReal Property Group is an ideal recipient of this year’s award and PREA is proud to recognise the team’s accomplishments.”
Dennis Lopez, CEO of QuadReal, added: “The QuadReal team is dedicated to Being a Responsible Company and integrating environmental, social and governance (ESG) into its core activities, including its corporate, global real estate and debt management, due diligence and investing activities. This activity underpins both our own actions around ESG but also our wider philosophy in encouraging others across the industry to join us on this critical journey.”
About QuadReal Property Group
QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management total $67.1 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating companies in which it holds an ownership interest.
QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.
QuadReal: Excellence lives here.