Socially responsible investment
In line with our ESG strategy, we integrate ESG into our investment process by evaluating and taking into account the ESG performance of each asset. Today, the Group's direct and indirect investments through SRI-labelled funds are made with a socially responsible investment (SRI) approach using ESG tools from the acquisition phase or entry into the portfolio and the implementation of management processes to strengthen ESG analysis at both asset and fund level.
Our ESG tools are flexible depending on the type of asset and the country concerned. They make it possible to assess all of PAREF's transactions, including those of assets managed on behalf of third parties. Thus, we not only manage ESG risks during investments, but we also structure new ESG products and operating methods aimed at creating environmental and societal value.
In accordance with the recommendations of the Middlenext Code, PAREF has set up an ESG Committee within its Board of Directors during 2022. Its purpose is to examine the most relevant environmental, social and governance issues for the Group.
This committee is chaired by an independent director appointed by the Board of Directors. It is composed of three Board members as well as two external experts.
- Dietrich Heidtmann will chair the ESG Committee, Independent Director, President of the Audit Committee and Member of the Investment Committee,
- Additional Board Members will be Antoine Castro, Chairman and Chief Executive Officer, as well as Yufei Jin, Board Director, Member of the Audit Committee and the Nomination and Remuneration Committee.
Two external experts have been selected to further enhance the 3 pillars set out by the Group under Create MORE.
- Sander Paul von Tongeren
- Ella Etienne-Denoy
In this context, the Group has appointed an Head of ESG & Sustainability who is responsible for monitoring and implementing the ESG strategy within the Group.
Chairman & independent board member
Chairman of the ESG Committee Managing Director of GTIS Partners since 2014, he opened the GITS office in Paris. He is responsible for international capital activities.
experience in capital markets, including 12 years in private markets specializing in real estate. Before joining GTIS, he worked as Head of Investor & Capital Markets Relations for AXA Real Estate and was a member of the Executive Committee. Previously, Dietrich Heidtmann worked for 20 years for Morgan Stanley as Director, Head of Private Real Estate Capital Markets
Prior to that, Dietrich Heidtmann worked for Morgan Stanley for 20 years as Director, Head of Real Estate Private Equity Markets for the Europe, Middle East & Africa region and the Asia Pacific region.
Dietrich Heidtmann graduated from Mannheim University in 1988 with an MBA (Diplomkaufmann).
External member & advisor
Ella Etienne-Denoy is the Chairwoman and CEO at GreenSoluce from CBRE. Fellow of the Choiseul ranking "City of tomorrow", Director of the Smart Buildings Alliance and Vice President of the Smart City, ex- L’Oréal, CGI, Thales, Ex - Co-Founder & Co-Chair - Green Growth Working Committee at American Chamber of Commerce in France, she holds a Master Degree in Innovation at University of Mannheim, undergraduate at ESSEC Business School. She will bring expertise on sustainable real estate, finance, and smart city topics.
Sander Paul van Tongeren
External member & industry expert
Sander Paul von Tongeren, is the founder and formerly CEO at GRESB. Sander was also the Head of Sustainability Real Estate at APG, and Portfolio Manager of European Office Fund and European Logistic Funds at CBRE Global Investors.
He holds its Master Degree in Real Estate and Finance at Amsterdam School of Real Estate and Amsterdam Business School. He will bring expertise on sustainable real estate and finance, ESG data, clean tech.
chairman board member
Antoine Castro has more than 20 years' experience in property management.
After starting his career as a portfolio manager, he progressed to senior management positions in international companies such as Morgan Stanley Real Estate, Quantum Global Real Estate and Fosun Hive Holding.
Nicolas joined PAREF Gestion in 2023 to implement the company’s ambitious growth strategy and manage all third-party activities.
Antoine graduated in Finance from the University Panthéon Sorbonne (Paris I) and in Corporate Finance from the University of Evry-Val-d'Essonne.
Sia Peng Peng
Chairperson, FHO ESG Committee at Fosun Hive Capital Management & board member
Ms. Sia Peng Peng joined Fosun in 2021 as Chief Portfolio Officer and is a partner of Fosun Hive. Ms. Sia has over 30 years of experience in infrastructure and real estate investment, development and asset management in the United States, Europe and Asia. Prior to joining Fosun, Ms. Sia held various senior positions in the asset management space, with AuM in excess of USD 12 billion, at Far East Organization and Keppel Capital/Alpha Investment Partners. Ms. Sia was the founding chair of Keppel Capital's ESG committee, which she chaired from 2012 to 2021. She is also in charge of defining ESG strategies for the group's various entities.
Ms Sia holds a Master in Land Economy from Cambridge University in UK and a First Class Honours degree in Estate Management from Ulster University. In 2021, Ms Sia was awarded the Pingat Bakti Masyarakat (PBM, Public Service Medal) National Day Awards by the President of the Republic of Singapore for her contribution to public service.
Commitment to transparency
PAREF undertakes to communicate an annual ESG report which summarizes the ESG objectives and the results obtained by the management company and its funds.
As a listed real estate investment company, we comply with the Regulation (EU) 2019/2088 known as the "Sustainable Finance Disclosure Regulation (SFDR)" relating to the publication of information on sustainability in the financial services sector. Our policy on sustainability and environmental, social and governance (“ESG”) risks was created within the framework of consideration of extra-financial criteria in the selection and management of the assets of certain managed portfolios and proposed management strategies under mandate. You can access our Sustainability Risk Integration Policy from this document.
The compensation policy for all PAREF Group employees integrates performance criteria and criteria related to sustainability. The extent to which these criteria are taken into account depends on the profile of the employees and is based on the risks identified according to their activity. This consideration is aligned with the Group's strategic risk management.
SFDR classification of our funds
As of December 31, 2023, the funds managed by PAREF Gestion are classified as follows:
SFDR – Article 6
- Novapierre 1
- Novapierre Résidentiel
SFDR - Article 8
- Interpierre France
- Interpierre Europe Centrale
- Novapierre Allemagne
- Novapierre Allemagne 2
In addition, the Group continues its commitment towards its stakeholders. It has representatives in national and European organizations such as the ASPIM (French Association of Real Estate Investment Companies) SRI Commission, the FEI (Federation of Real Estate Companies) Sustainable Development Commission and the OID (Sustainable Real Estate Observatory)’ working groups.
For any questions about our ESG & Sustainable Development activities, you can contact us at this address firstname.lastname@example.org