Jennifer McConkey

Principal Real Estate Investors is pleased to have received an overall A+ score on the annual Principles for Responsible Investment (PRI) survey, as well as “Green Star” and “4-star” ratings on two funds by GRESB, the global ESG benchmark for real estate assets.

These awards highlight Principal Real Estate Investors integration of environmental, social, and governance (ESG) considerations into investment practices. Principal Real Estate Investors’ continued recognition by these industry benchmarks demonstrate its commitment to asset management and fiduciary governance, and the pursuit of positive financial and environmental results for our clients.

In Australia, the Principal Global Investors team manages over A$3.4b in real estate for Australian clients.

PRI

For the third year in a row, Principal Real Estate Investors earned an A+ rating, the highest possible, from the PRI Direct Property Assessment, outperforming peers in all 7 Direct Property sections. Principal Global Investors earned an overall A ranking for Strategy and Governance and continues to receive strong scores in ESG based on the 2019 PRI Assessment Report.

GRESB

Two funds from the 2019 survey, the Principal Real Estate Investors’ core and core-plus private real estate equity funds achieved “Green Star” and “4-star” ratings. This marks the fourth consecutive year Principal Real Estate Investors has received 4-star ratings for these funds, placing them among the top 40% of GRESB participants worldwide1. Both funds placed in the top 15 of their peer group, outperforming peers on 6 out of 8 GRESB aspects, and received a perfect score in four GRESB aspects (Management, Policy & Disclosure, Risks & Opportunities, and Stakeholder Engagement).

Each year GRESB assesses and benchmarks the ESG performance of the real estate investment sector worldwide and monitors industry progress towards global sustainability goals. GRESB assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of real estate assets, including information on energy and water consumption, green building and energy certifications, sustainability risk assessments, governance, and stakeholder engagement.

“Changing tenant and market preferences, emerging technologies, climate risks, and the constant pursuit of cost efficiencies require a strategic environmental, social, and governance (ESG) response,” said Jennifer McConkey, senior director, operations and sustainability, Principal Real Estate Investors. “Through our continued success and focus on material ESG factors, we are better equipped to manage risk, identify new opportunities, and fulfil client objectives. We are pleased to be recognized for our ongoing efforts”

About the Pillars of Responsible Property Investing Initiative

The Pillars of Responsible Property Investing (PRPI) is the overarching environmental, social, and governance initiative undertaken by Principal Real Estate Investors and its property management partners. The PRPI initiative seeks to reinforce the social and economic vitality of markets where Principal Real Estate Investors invests, manage risk, enhance transparency, and raise each property’s competitive stature through improved financial and environmental performance. Through the PRPI initiative, Principal Real Estate Investors has reduced energy use by 18.5% since December 2008, equating to a cumulative $52.5 million in energy cost savings. 89% of Principal Real Estate Investors’ office properties are green certified (LEED and/or ENERGY STAR certified).

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