New paper on impact of ESG on European non-listed fund performance

To better understand the impact of ESG on the financial performance of non-listed real estate funds INREV and GRESB have commissioned a paper to link fund-level financial returns with GRESB ESG scores.

Key highlights include: 

•  The participation process of ESG benchmarking is non-random. Early participants in the GRESB Real Estate Assessment are large funds with low leverage, two factors that correlate with excess returns.
•  Funds participating in the GRESB Assessment outperformed non-participating funds, even when controlling for factors like fund size, investment style and leverage levels.
• In particular, improvements in the GRESB Performance Score and GRESB Environmental Score are linked to higher total returns. Albeit these benefits vary depending on funds characteristics and timing of participation.

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Want to learn more? 

Download the report below or watch the briefing recording. 

If you have any questions please reach out to Iryna Pylypchuk.