SGX-listed Stoneweg European Real Estate Investment Trust (SERT) has released its Sustainability Report 2024, marking the seventh year of such reporting. The report, covering 2023 and 2024, showcases SERT’s commitment to sustainability with a 24.9% reduction in greenhouse gas emissions intensity since 2019 and a target of Net Zero operational carbon emissions by 2040.
The report highlights the successful issuance of a €500 million green unsecured bond, which was over four times oversubscribed, demonstrating strong investor confidence. Additionally, 85% of SERT’s office portfolio by value is now certified by BREEAM or equivalent standards, and eight solar photovoltaic projects are operational, with plans for 17 more by 2027.
SERT retained its four-star GRESB rating, achieved an “A” MSCI ESG rating, and maintained a “Negligible Risk” score of 8.8 from Sustainalytics. The trust also ranked in the top ten of the Singapore Governance and Transparency Index for the fifth consecutive year.
CEO Simon Garing emphasised the integration of ESG into decision-making, stating, “Our ambition for Net Zero operational carbon emissions by 2040 guides how we invest, manage, and engage. ESG is no longer a nice-to-have – it is part of how we access capital, attract tenants, meet regulatory expectations and build long-term value.”
The report underscores SERT’s alignment with international sustainability standards and its strategic focus on enhancing environmental, social, and governance metrics. As SERT continues to advance its sustainability initiatives, it aims to further improve its environmental impact and stakeholder engagement.
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