Invesco Real Estate becomes first investment manager to submit portfolio of resi assets for BREEAM In-Use certification
Invesco Real Estate's (Invesco) core UK Residential strategy has completed its first submission to the BREEAM In-Use Residential Scheme with the BRE (Building Research Establishment).
The firm says it is the first investment manager globally to submit a portfolio of assets for BREEAM In-Use certifications.
Invesco is also one of the first adopters in the industry to opt into the scheme, which forms a key part of its sustainability pledge to its investors and to its sustainability goals for all residential assets. The submission comprises six operating and stabilised residential assets within the strategy and is a key part of the sustainability programme to measure, benchmark and improve the sustainability performance of its residential portfolio in a meaningful and transparent way.
The BREEAM In-Use Residential Scheme was released in May 2020 and is the first BRE scheme of its kind, allowing landlords to benchmark the sustainability performance of operational Build to Rent (BtR) residential assets. Invesco Real Estate plans to expand certification coverage across the UK Residential portfolio as assets become eligible for assessment.
Invesco believes in setting strong, data-driven and measurable sustainability benchmarks, and this early uptake of the BREEAM In-Use Residential Scheme allows the team to continue its long term, diligent integration of sustainability best practice into every aspect of residential operation and investment.
Anna Duchnowska, Managing Director, Head of European Asset Management at Invesco, says: ”This early action is important to ensure that we are applying the same sustainability standards to residential properties that we have long integrated into the management of our commercial properties. With the release of the BRE’s Residential scheme, we now have the ability to do this in a way that aligns with our commercial initiatives. We welcome the BRE’s thought and care in providing strong tools for measuring and improving our environmental performance across all property sectors, and we look forward to expanding BREEAM benchmarking broadly across our residential and commercial properties with the BRE’s diligent support.’
Victoria Stanley, Director of Residential Investment at Invesco, says: “We are pleased and proud to support the pilot BREEAM In-Use Residential Scheme initiative and assist the wider residential industry in developing tools for benchmarking and improving the quality and sustainability of homes for rent within the UK. Our involvement in this exciting initiative underpins our investment ethos to invest in housing for the long-term in a socially responsible and sustainable way, and to innovate and continually evolve investments to ensure that we build and deliver quality homes for rent that attract and retain a diverse tenant base and aim to deliver performance for our investors.”
James Fisher, Strategic Real Estate Lead at BRE Global Limited, says: ‘We are so pleased to see this early support and commitment to BREEAM In-Use Version 6 for Residential assets from Invesco. They have quickly moved to implement their commitment on their residential portfolio, building on their earlier adoption of the scheme for their commercial assets and maintaining their leadership position around ESG matters in the real estate market as a whole. From a BRE perspective, we are proud to see the tools we create having such a direct impact on the sustainability performance of real assets. However, there is always more to do, and we know that Invesco’s leading role in driving ESG-related market performance will act as a catalyst for others to follow. Invesco’s determination is to be congratulated as they progress forward from here.’