News: Manulife's GRESB Real Estate and Infrastructure Assessment results showcase commitment to ESG integration
Press Release (PRNewswire) - Manulife Investment Management has announced the results of its 2022 GRESB assessments for private markets real estate and infrastructure, released in October 2022 and covering the 2021 calendar year.
The firm saw above-average management scores for both asset classes. Real estate asset performance scores, as compared to the global average, were also above average for all submissions. Additionally, its global real estate portfolio was ranked second in its peer group. And Manulife's general account, managed by the real estate investment team at Manulife Investment Management, was ranked first in its peer group this year.
The GRESB Real Estate and Infrastructure Assessments provide a rigorous methodology and consistent framework to measure the environmental, social, and governance (ESG) performance of individual assets and portfolios based on self-reported data. Performance assessments are guided by what investors and the wider industries consider to be material issues, aligned with the Sustainable Development Goals, the Paris Climate Agreement, and major international reporting frameworks. The GRESB assessment provides investors with global ESG benchmarking and standardized information and tools to help monitor and manage the ESG risks and opportunities. Manulife Investment Management pays a per fund submission fee, per year, for the assessments.
"We're excited to share the results of Manulife Investment Management's 2022 GRESB Real Estate Assessment as we've outperformed the global averages for all of our submissions, achieving green star rankings across the board," said Marc Feliciano, global head of real estate investments, Manulife Investment Management. "We've participated in the GRESB Real Estate Assessment for 10 years. As an early participant, we're proud of our role to help establish the GRESB benchmark that is used today to assess the ESG integration and performance of portfolios covering $6.9 trillion of gross asset value across the globe."
"We're pleased with the Infrastructure Assessment results as they highlight our approach to ESG integration and management," said Recep Kendircioglu, global head of infrastructure, Manulife Investment Management. "Importantly, the results enable us to benchmark and to engage with portfolio companies in an insightful and productive way to increase sustainability metrics."