Global Real Estate Sustainability Benchmark (GRESB) is widely recognized as the standard for measuring sustainability performance of real estate portfolios and assets.
Baltic Horizon Fund has participated in the annual GRESB assessment since 2020, and in 2022, the Fund crossed the threshold to 4-star level. However, with broader commitment and improved performance in the sector, requirements and expectations are also increasing and new best practice standards are emerging. Against this backdrop, Baltic Horizon Fund announces a 3-stars rating this year with 80 points, 1.5 points below the 4 stars-threshold.
Baltic Horizon Fund has a well-established sustainability strategy. We are continuing our ESG efforts and remain committed to achieving our long-term goals which also includes achieving a 4-stars rating in the GRESB assessment, commented Tarmo Karotam, Fund Manager for Baltic Horizon Fund.
This year, one of the key challenges has been the collection of performance data for four properties – Duetto I and II and Domus Pro Office and Retail Park -which were sold during the assessment period. This has lowered the data coverage in the performance module. The Fund has already taken steps to ensure robust data collection process this year and therefore expects to have better scoring in this aspect next year.
Other milestones after the assessment period include:
- The Fund has achieved its first BREEAM Excellent certification with the BREEAM New Construction certification of its Meraki office building in Vilnius.
- A new data management system, Measurabl, has successfully been implemented across the entire portfolio to ensure effective collection, management and reporting of ESG data.
I am proud that in even with the data collection challenges that we have had in 2023 we did increase our renewable energy coverage and obtained energy consumption reductions in several properties. A key action plan this year is to improve the performance module by increasing the data coverage and using the data actively to further reduce CO2 emissions, added Vilma Pasanen, Head of Sustainability at Northern Horizon.
The 2023 ESG report for Baltic Horizon Fund is available on baltichorizon.com.
For additional information, please contact:
Tarmo Karotam
Fund Manager
tarmo.karotam@nh-cap.com
+372 508 9044
Vilma Pasanen
Head of Sustainability
vilma.pasanen@nh-cap.com
+358 400 284 785
About GRESB
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 150 institutional and financial investors to inform decision-making.
About Baltic Horizon Fund
Baltic Horizon Fund is a listed real estate fund delivering value to investors through active management of commercial real estate in the Baltics. The portfolio consists of 12 properties in the Baltic capitals. The Management Company (AIFM) of the Baltic Horizon Fund is Fund Northern Horizon Capital AS.
