First rating for Peach Property Group by an ESG rating agency

by   CIJ News iDesk III
2022-11-28   07:55

Peach Property Group AG, a real estate investor with an investment focus on residential rental properties in Germany, has received its first rating by an ESG rating agency and achieved a good result with the risk category "low". The rating by Sustainalytics thus marks another milestone in the implementation of Peach Property Group's sustainability strategy.

In November 2022, Peach Property Group received an ESG Risk Rating of 11.5 and was assessed by Sustainalytics to be at "low" (10 to 20) risk of experiencing material financial impacts from ESG factors. The ESG Risk Rating places Peach Property Group in the top eleven percent of over 1,000 real estate companies assessed globally by Sustainalytics. In the more narrowly defined segment real estate management, Sustainalytics ranks Peach Property Group 21st out of over 150 companies. In addition, the ESG Risk Rating places the company in the top four percent of over 15,400 companies assessed by Sustainalytics globally.

In Peach Property Group's ESG Risk Management, Sustainalytics highlights as key positives ESG integration, conducting lifecycle assessments for newly acquired properties, regular tenant satisfaction surveys, and product governance, in other words the way the Group interacts and deals with its tenants. Sustainalytics rates the ESG Risk Exposure at 27.4 and hence in the category "low" (0 to 35).

Dr. Thomas Wolfensberger, CEO of Peach Property Group AG, commented: ”Sustainability is a key success factor for Peach Property Group. Through the targeted measures we have chosen, we are constantly improving performance in all areas of sustainability. The progress that we have achieved in energy efficiency is directly reflected in the market value of our properties. We are therefore delighted to receive such a good rating from Sustainalytics, which underlines the success of our ESG activities. We will continue to place sustainable corporate governance and the well-being of our tenants and employees at the center of our future actions. In doing so, we will leverage value across the board, for our tenants, the environment, society and, of course, our investors.”

Thorsten Arsan, CFO and Chair of the Sustainability Committee at Peach Property Group, added: “Our sustainability strategy is also of increasing importance in discussions with our investors. Accordingly, undergoing the rating process with Sustainalytics for the first time was a valuable opportunity to subject our sustainability efforts to external benchmarking and identify potential for further improvement.”