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.
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). Information on the 2019 GRESB Real Estate results can be found through GRESB.
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 fulfill 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). For more information, please visit Responsible Property Investing.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $82.9 billion in commercial real estate assets (as of June 30, 2019). The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is a dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
About Principal Global Investors®
Principal Global Investors® leads global asset management at Principal®. As a multi-boutique firm, we bring a focused perspective and offer expertise across a host of asset classes. At our core, we are driven by our purpose to help investors and businesses achieve their financial goals. Our global investment professionals deliver investment solutions for public and private pension funds, foundations and endowments, central banks, insurance companies, sub-advisory arrangements, sovereign wealth funds and individual portfolios.
Principal Global Investors manages approximately $451.1 billion in assets on behalf of over 800 institutional clients located in over 80 countries as well as retirement plans and individual clients, reflecting our worldwide market reach and experience and our commitment to high-quality research and service (as of June 30, 2018).
Principal Global Investors leads global asset management at Principal® and includes the asset management operations of the following members of Principal®: Principal Global Investors, LLC; Principal Real Estate Investors, LLC; Principal Real Estate Europe Limited and its affiliates; Spectrum Asset Management, Inc.; Post Advisory Group, LLC; Columbus Circle Investors; Finisterre Capital, LLP; Origin Asset Management, LLP; Claritas Investimentos; Principal Global Investors (Europe) Limited; Principal Global Investors (Singapore) Ltd.; Principal Global Investors (Australia) Ltd.; Principal Global Investors (Japan) Ltd.; Principal Global Investors (Hong Kong) Ltd., and include assets where we provide model portfolios. Marketing assets under management include certain assets that are managed by Principal International and Retirement and Income Solutions divisions of Principal.
To find out more, visit us at principalglobal.com.
Principal and symbol design and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
1The GRESB star rating is a relative score that ranks all GRESB participants worldwide, broken up into quintiles. Therefore, a GRESB 4-star score indicates performance within the top 40% of all participants.
Third party rankings and recognitions are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance or results. There is no guarantee that socially responsible investing (SRI) products or strategies will produce returns similar to traditional investments. An environmental, social and governance (“ESG”) investment strategy limits the types and number of investment opportunities available and, as a result, may underperform other strategy that do not have an ESG focus.
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