The Pension Real Estate Association (PREA), a non-profit trade association for the global institutional real estate investment industry, has named APG the winner of the PREA Institutional Investor ESG Award 2023. This was announced at the group’s Fall Conference in Boston on October 19.
Greg MacKinnon, Director of Research at PREA, motivated the decision to award the award to APG as follows:
“APG is one of the world’s largest pension investors and has long had a strong commitment to sustainability. Not only has it shown within its own portfolio that improved environmental performance goes hand-in-hand with financial performance, but, by being instrumental in the founding of industry initiatives such as the Global Real Estate Sustainability Benchmark (GRESB) and the Climate Risk Real Estate Monitor (CRREM), it has helped put the entire real estate investment industry on a more sustainable path. APG provides an excellent example of how an appropriately designed real estate investment program can have significant, positive impacts on society and the communities in which it operates, while at the same time providing competitive investment performance and is a deserving winner of this year’s award.”
The ceremony was attended by Steven Hason, Head of Americas Real Assets and Derk Welling, Senior Responsible Investment & Governance Manager. Steve accepted the award on APG AM’s behalf.
Frontrunners
Environmental, social, and governance (ESG) issues are increasingly central to investment decision making, and these awards were introduced by PREA to recognize institutional investors at the forefront of ESG within real estate investing. It is now the third year that the prize has been awarded. Previous winners were QuadReal Property Group (2022) and Ivanhoé Cambridge (2021).