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.

Esg committee

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.

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 at August 1st, 2022, managed funds by PAREF Gestion are classified:

SFDR – Article 6

  • Novapierre 1
  • Novapierre Allemagne
  • Novapierre Allemagne 2
  • Interpierre Europe Centrale
  • Novapierre Résidentiel

 

SFDR - Article 8

  • Interpierre France
 

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 on our ESG & Sustainability activities, please write to sustainability@paref.com