Two MetLife Investment Management (MIM) real estate partnerships with Norges Bank Investment Management and New York State Common Retirement Fund have achieved 5-star ratings from Global Real Estate Sustainability Benchmark (GRESB), which also recognised the partnerships as “Sector Leaders” for the second consecutive year.
In addition, a third MIM core real estate property portfolio once again received a 4-star rating.
GRESB issues an annual assessment benchmarking properties’ performance in achieving environmental, social and governance (ESG) goals, and compares each sector’s progress in achieving global sustainability standards. The top 20 percent within each sector of the benchmark receives the 5-star rating.
“Receiving multiple GRESB recognitions for another consecutive year reflects our company’s dedication to prioritising responsible investing across our real estate portfolio,” says Jim Landau, head of environmental, social and governance for the Real Estate & Agricultural Finance team at MetLife Investment Management. “We are excited to continue our established partnerships with Norges Bank Investment Management and the New York State Common Retirement Fund, which are committed to meeting the highest ESG standards and helping our communities transition to a more sustainable world.”
MIM is dedicated to reaching sustainability targets through deployment of its MetZero initiative and seeks carbon neutrality in the near term using a Carbon Cascade approach, which prioritises energy efficiency and on-site and off-site renewables, and then utilises the purchase of renewable energy credits (RECs) and offsets.