Société de la Tour Eiffel's ESG policy again recognised
by GRESB, EPRA and Gaïa Rating
Société de la Tour Eiffel, a benchmark player in office property in Greater Paris and in high-potential regional cities in France, has, for many years, had a demanding company-wide ESG policy in place and its commitment has been recognised with multiple awards: 5 green stars from GRESB, two EPRA awards, and a Gaïa Rating award.
Bruno Meyer, Deputy Managing Director of Société de la Tour Eiffel, said: “Société de la Tour Eiffel has had a pro-active process for continuously improving its ESG policy, for years now. These awards and ratings recognise we have the strategy and performance to generate sustainable growth. They also celebrate the commitment of our teams who have fully integrated these issues into our day-to-day working.”
Strong performance and higher scores at GRESB 2021
At the annual awards given by GRESB* (Global Real Estate Sustainability Benchmark), an international body that rates environmental, social and governance (ESG) performance in the property sector, Société de la Tour Eiffel confirmed its “Green Star**” status, earning:
- A maximum 5 stars for Standing Investments for the second year running, with a score up 3 points between 2020 and 2021, from 86 to 89 out of 100,
- 3 stars for Development projects, an improvement of one star based on a score up 12 points in 2021, from 73 to 85 out of a 100.
Société de la Tour Eiffel attributes the rise in its GRESB 2021 scores to more reliable energy data from its operating buildings, new partnerships and more projects embracing the circular economy on their building sites (Backacia and Booster du Réemploi), plus the installation of PV solar panels on several renovated buildings.
* The GRESB is a global benchmark that assesses real estate companies for transparency, comparability and performance on ESG (environmental, social and governance) issues. It awards companies an overall score and 0-5 stars, depending on how well they perform on these issues. Scores are based on a questionnaire with answers supported by documentary evidence.
** “Entities with more than 15 points in Management and 35 points in Performance OR 15 points in Management and 35 points in Development will receive the Green Star designation” according to GRESB.
Two EPRA awards in 2021
EPRA (the European Public Real Estate Association) recognised Société de la Tour Eiffel, on 22 September 2021, for the quality of its reporting in 2020 and its continued application of best standards in the sector in its informed review of the company's performance, granting it two awards:
- Gold for financial reporting (Best Practice Recommendations: BPR Gold) for the fourth year running, despite the introduction of more stringent transparency criteria this year;
- Silver, for the third year running, for non-financial reporting (Sustainability Best Practice Recommendations: sBPR Silver), attesting the company's strong commitment to corporate social responsibility (CSR).
EPRA, a European trade body, analyses the reporting of listed real estate companies and publishes recommendations for improving transparency and comparability. The recommendations evolve over time and lay out which indicators should be reported and how they should be calculated. It checks consistency with the reports issued by member companies and, where merited, recognises companies with three grades of award: bronze, silver and gold.
Strong performance and progress at 2021 Gaïa Rating
Having entered the Gaïa Rating at number three in 2020, this year Société de la Tour Eiffel rose to second place in the category of SME/Mid-Caps in France for companies with revenue below €150 million. The ranking confirms the effectiveness of the real estate investment company's growth strategy and its commitment to ESG.
Gaïa Rating conducts an annual survey of environmental, social and governance (ESG) criteria, covering most of the SME-Mid-Cap companies listed in France. The resulting data is used to rate companies for transparency and non-financial performance. The rankings help users compare peer companies in each revenue category.
To find out more about ESG strategy and structures at Société de la Tour Eiffel, see our Non-financial performance statement 2020
Laetitia Baudon – Consulting director
Tel. + 33 (0)1 44 50 58 79
Investor Relations and Financial Communications
Aliénor Kuentz – Consulting Director
Tél. +33 (0)1 42 86 82 45
About Société de la Tour Eiffel
Société de la Tour Eiffel is an integrated commercial real estate company with €1.8 bn in assets and a powerful service culture. It operates across the real estate cycle, supporting companies of all sizes and sectors, and directly manages assets in high-potential regions via a rigorous management process. The real estate company manages its real estate portfolio, which is currently growing fast, for the long term. It is implementing a strategic refocus on 100% office property, 80% in Greater Paris and 20% in high-potential regions and is now established as a leading actor in the sector. Société de la Tour Eiffel is listed on NYSE Euronext Paris (Compartment B) – ISIN Code: FR0000036816 – Reuters: TEIF.PA – Bloomberg: EIFF.FP – Indexes: IEIF Foncières, IEIF Immobilier France.