Tritax EuroBox plc (“Tritax EuroBox” or the “Company”) (ticker: EBOX (Sterling) and BOXE (Euro)), which invests in high-quality, large, sustainable, prime logistics real estate strategically located across Continental Europe, is pleased to announce that in the 2021 survey by GRESB (Global Real Estate Sustainability Benchmark) released today the Company has been awarded four Green Stars out of a maximum of five.
Awarded 82/100 and four green stars for our standing portfolio
Acting sustainably and responsibly is fundamental to our ability to deliver long-term value for our shareholders and other stakeholders
The Company’s GRESB 2021 score of 82/100 for its standing investments shows significant improvement against its 2020 GRESB survey score of 64/100 and compares very favourably not only against the 64/100 average score in 2021 for its peer group but also against the 73/100 GRESB 2021 average score.
The latest GRESB scoring reflects the strong and increasing focus on ESG by Tritax EuroBox to improve further the ESG performance and credentials of the Company and its standing and development portfolio, with progress achieved by delivering enhanced sustainability initiatives, notably the high proportion of green building certifications, covering 65% of the portfolio in 2020, and collecting a high proportion of tenant energy consumption data (89% of the portfolio by floorspace).
The latest GRESB scoring also recognises the embedding and enhancing of ESG practices into the Company and its fund manager, from governance policies, ESG risk assessment, tenant, employee and wider stakeholder engagement, as well as including introducing ESG acquisition due diligence reports, implementing green leases and a range of initiatives to improve environmental performance, including progressing discussions on solar PV installations. The strong and strengthening tenant engagement also increased this year’s data collection significantly, enabling the Company to enhance measurement and drive further sustainability improvements both now and going forward.
Tritax EuroBox is further enhancing its ESG credentials with its debut €500 million five year green bond issuance in May 2021, that will be used by the Company to finance and/or refinance, in whole or in part, a portfolio of eligible green projects, including standing assets as well as contributing to the funding of the Company's extensive pipeline of new developments and acquisitions.
The Company's vision for sustainability is to demonstrate leadership in sustainable logistics real estate, working in collaboration with stakeholders to create long term positive change and value. The GRESB 2021 scores demonstrate the Company's comprehensive commitment to this vision, and the ongoing successful implementation of its ESG strategy, with the Company’s new developments and acquisitions expected to be best in class, sustainable, net zero carbon buildings, and to be certified as BREEAM "Very Good" or DGNB "Gold" (or equivalent).
Tritax EuroBox is committed to continuing to advance its business and sustainability programmes to further enhance the Company’s ESG credentials over the short and longer term, supporting the Company’s Sustainability Strategy and Vision to create a positive environmental and socio-economic impact by 2030, by focusing on developing and owning large-scale logistics real estate that delivers net positive impacts over the long term.
Nick Preston, Fund Manager of Tritax EuroBox, commented:
"I am really pleased to note the latest improved GRESB scoring for the Tritax EuroBox portfolio which underscores our desire to put ESG at the heart of everything that we do. We remain fully committed to delivering a positive social, environmental and economic impact for our occupiers and local communities. Tritax EuroBox’s recent significantly oversubscribed and upscaled £213 million fundraise increases our scale, which is expected to enable us to accelerate our sustainability strategy and deliver our energy and carbon reduction commitments, enhancing the positioning and sustainability criteria of our portfolio to deliver further value to our shareholders and our wider stakeholders sustained over the long term.
The logistics sector continues to grow with the increasing demand from market participants for newer, quality, sustainable warehousing driven by their demand for increased space both for the re-shoring of operations and to address the long term rise in e-commerce demands."
Helen Drury, Sustainability Lead for Tritax Group, commented:
"The latest GRESB scores awarded to Tritax EuroBox underline the significant progress we are making to enhance the sustainability of Tritax EuroBox’s business and portfolio for the benefit of all our stakeholders. We remain fully committed to making significant positive contributions to improving the environmental and social impact of the logistics real estate and construction sectors with initiatives and strategies to deliver best in class sustainable developments that reduce carbon emissions and support energy efficiency."
For further information please contact:
+44 (0) 20 8051 5070
Jo Blackshaw (Investor Relations)
Maitland/AMO (Media inquiries)
+44 (0) 7747 113 930