Stockbridge’s core fund (the “Fund”) and one of its separately managed accounts (the “Account”) have both earned Three-Star ratings from GRESB. This rating is based on environmental, social and governance (ESG) performance during the 2021 calendar year.
The Fund received an overall GRESB score of 79, a five-point increase from the year prior and a 47-point increase from its 2019 score. The Fund also placed third out of ten within the designated peer group. Additionally, the Account earned a score of 75 for the 2021 calendar year, which also marked a five-point increase from the year prior. Both portfolios also earned the GRESB Green Star designations for the second year in a row. As a firm, Stockbridge ranked 35th out of 484 on its overall management score within the Americas.
GRESB provides validated performance data and peer benchmarks for investors and managers to improve business intelligence, industry engagement and decision-making. The GRESB Rating is based on the overall GRESB Score and its quintile position relative to all participants in the GRESB Assessment, with annual calibration of the model. The highest rating is the GRESB Five-Star Rating and lowest is GRESB One-Star Rating. Stockbridge has been a long-standing member of GRESB and has submitted the core fund annually since 2014.
Over the past several years, Stockbridge has pursued a number of additional sustainability certifications including Energy Star, BREEAM USA and IREM Certified Sustainable Property (CSP) at select multifamily, industrial, retail and office properties. At the property level, all property and asset managers are educated and trained on the firm’s ESG+R program, resources and improvement opportunities. The firm’s reduction target goals are set in an effort to reduce consumption of energy, GHG emissions and water usage across select portfolios. Additionally, Stockbridge has also implemented various capital improvements at the property level in select portfolios to further enhance ESG+R factors, including converting property to low flow profiles to reduce water consumption, installation of solar power, and more.
In 2019, the firm engaged a third-party ESG expert to perform GRESB analysis and provide strategic action items for improvement. For more information on Stockbridge’s sustainability approach, visit here.
Stockbridge is a private equity real estate investment management firm led by veteran industry professionals. The firm’s portfolio comprises assets across the investment risk spectrum, including core, value-add and opportunistic strategies. Stockbridge and its affiliates have approximately $32.8 billion of assets under management (as of June 30, 2022) spanning all major real estate property types and certain specialty property types, throughout the United States. For more information, visit www.stockbridge.com.
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 140 institutional and financial investors to inform decision-making. For more information, visit GRESB.com
Stockbridge’s ESG+R Program is aligned with INREV, GRESB and PRI. Data provided herein has been reviewed by LORD Green Strategies and represents a snapshot of current performance. GRESB is independent of Stockbridge and is funded by fees from members and submitters. The firm’s core fund pays annual submittal fees of approximately $7,200.