Share price

€71.50
( 0.70 %)
01/31/2023-16:46

Share price

€71.50
( 0.70 %)
01/31/2023-16:46

PAREF establishes high-quality ESG supervision

PAREF launched its ESG strategy Create MORE, with the clear objective to contribute to society in order to create more value and sustainable growth for its stakeholders. This strategy is supported with alongside action plans and necessary tools to help its implementation. 

The Board of Directors has set up the new PAREF Group ESG Committee to provide additional support for ESG initiatives. This supervisory body is made up of 3 members of the Board of Directors as well as two external experts. 

  • Dietrich Heidtmann chairs the ESG committee, as independent director, chairman of the audit committee and member of the investment committee,
  • The other members of the board of directors are Antoine Castro, Chairman and Chief Executive Officer, as well as Yufei Jin, director, member of the audit committee and of 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, is the founder and former CEO of GRESB. Sander was also Head of Sustainable Real Estate at APG, and Portfolio Manager of the European Office Fund and European Logistic Funds at CBRE Global Investors. He holds a master's degree in real estate and finance from the Amsterdam School of Real Estate and the Amsterdam Business School. He brings his expertise in sustainable real estate and finance, ESG data and clean technologies.
  • Ella Etienne-Denoy is the President and CEO of GreenSoluce from CBRE. Winner of the Choiseul 'City of Tomorrow' ranking, Director of the Smart Buildings Alliance and Vice-President of the Smart City, former L'Oréal, CGI, Thales, Ex – Co-Founder & Co-President – Green Growth Working Committee at the American Chamber of Commerce in France, she holds a Master's degree in Innovation from the University of Mannheim, a graduate of ESSEC Business School.

Governance will be based on the principles and recommendations of the United Nations, the European Taxonomy and the Sustainable Finance Disclosure Regulation (SFDR), as well as MiddleNext's governance code.

“We are very excited to welcome COIN Excelsior's new flagship in the heart of Milan and for the Medelan to become the showcase of a brand which combines modernity and tradition. Such values also characterise this ambitious project, which has led to the complete restructuring of a historical monument in compliance with the highest ESG standards. The arrival of COIN and other major retailers confirms the interest in the project, which integrates progress and sustainability.”

In addition, the Board of Directors reviewed the achievements of the last 6 months. We highlight three key examples below :

  1. Öykü Kurtoglu joined PAREF in December 2021 as Head of Sustainability & ESG with the mission to strengthen the ESG ambitions taken by the Group since 2019 and to integrate ESG culture transversally across all of our activities and geographies as part of Create MORE.

As a reminder, Create MORE will be delivered on three axes :

  • REgenerate Nature, by decarbonizing our activities, achieving carbon neutrality and aligning with the Paris Agreement,
  • REunite People, becoming an employer of choice,
  • REinforce Community, supporting local development and creating happier lives.
  1. The PAREF Group is a signatory and applies the United Nations Principles for Responsible Investment (UN PRI) and the United Nations Global Compact (UNGC). As a result, all decision-making processes now incorporate ESG criteria. With Create MORE, the PAREF Group intends to contribute to 12 of the 17 Sustainable Development Goals. For the deployment of this strategy, the diversity and quality of our product range, our advanced governance processes, our influence within the real estate ecosystem, innovation, technology and digitalization, as well as international certifications will be key factors.
  2. In terms of funds, PAREF Gestion obtained the SRI Label in June 2022 on behalf of the SCPI Interpierre France. The company's oldest fund will serve as a reference for the others: each asset in the fund has been assessed on around sixty criteria. The assets are all subject to a 3-year action plan to improve their performance in terms of sustainable development.

“I am particularly pleased with the high quality profile of PAREF Group ESG Committee and wanted to thanks them for joining. I am convinced that ESG is about more than ticking boxes, and about making a difference for our stakeholders. We will be relentless in our commitment to virtuous change, and eager to partner and operate with firms, people and technologies that allow us to turn plans into positive actions”.