CBRE Global Investors & BRE Partner on BREEAM to Drive Sustainability and Performance

May 28, 2019 4:45 PM ET
Press Release

LONDON, May 28, 2019 /3BL Media/ – In a landmark new partnership, CBRE Global Investors (CBRE GI) and BRE will collaborate to implement BREEAM In-Use International 2015 (BIU) across the CBRE GI EMEA portfolio over a five year period.

This signature project will be the first of its kind, where BRE and CBRE GI as the client will tender together to the BREEAM Assessor network, issuing a joint Request for Proposals (RFP). This new approach allows the huge volume of assessments to be managed more quickly and efficiently via a panel of assessors, all operating with high levels of experience and at scale. The tender process will be open to all BREEAM assessors, ensuring the ultimate level of fairness and transparency to the market.

In driving through this independent, robust and third-party certification, CBRE GI’s commitment to ESG principles is clear, sending a message to the real estate market that there is no time to waste in the improvement needed to the performance of a large proportion of existing buildings. The BREEAM In-Use scheme provides a science-based sustainable certification that allows CBRE GI to measure, manage, track and enhance the operation of all of their asset portfolio. The digital platform will quickly allow CBRE GI to compare the performance of assets across different funds and territories so that asset managers can learn from each other to make improvements.

Aleksandra Njagulj, Head of Global ESG, is driving the initiative at CBRE GI: “Sustainability is a fundamental part of CBRE Global Investors business strategy. We understand the significant impact the built environment has on the global environment and believe that we have a responsibility to incorporate and demonstrate ESG best practices in all of our corporate and investment management activities. The greatest sustainability impact is achieved through responsible portfolio management of standing assets.

For us, the BREEAM In-Use certification is not a tick-box exercise to create statistics for corporate responsibility reporting. Instead, it is a valuable tool we already use to assess, benchmark and drive continual improvement through our assets and property management alike. Expanding the BREEAM In-Use portfolio approach across our entire EMEA portfolio, comprising more than 360 assets, over five years initial programme, marks a market-leading step forward in sustainable asset management.”

James Fisher, Head of Real Assets for BREEAM at BRE, is a keen advocate of the new RFP process. He said: “We have been discussing the idea of a new RFP approach for large portfolio BREEAM projects for some time now and are very proud that CBRE GI will join us on this full implementation. The aim is to keep driving innovation in the delivery of BREEAM as the value case becomes more and more clear.

We need mass action in the CRE market that not only focuses on the super high-performing assets but also in the more mainstream buildings. It is testament to CBRE GIs commitment to build a better world, that we are now able to drive forward on this project with them.”

The Request for Proposals is now available to licensed BREEAM Assessors. To receive a copy of the tender pack please contact james.fisher@bregroup.com

About CBRE Global Investors

CBRE Global Investors is a global real asset investment management firm with $107.2 billion in assets under management* as of March 31, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.

CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2018 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.

*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.