NEINVER and Nuveen Real Estate achieve top global sustainability rating for their joint venture for the sixth consecutive year
Neptune, the joint venture between NEINVER and Nuveen Real Estate’s parent company TIAA, has once again achieved the highest rating in the Global Real Estate Sustainability Benchmark (GRESB)[1], maintaining its 5-star status for the sixth consecutive year.
The venture scored 93 out of 100, two points higher than in the previous edition. This performance places Neptune 10 points above the average for its peer group and 14 points above the global GRESB average. It now ranks third in its reference group among the top 10 retail real estate portfolios in Europe.
Consistent approach to sustainable asset management
The GRESB assessment, the world benchmark in real estate sustainability, covered 15 assets managed by NEINVER under the joint venture — including 13 outlet centres and two retail and leisure parks across Spain, France, Italy, the Netherlands and Poland. The report highlights the outstanding results in the Management component, where it achieved the maximum score, and measurable progress in Performance indicators related to energy efficiency, emissions and waste management.
“These results reflect the consistency of our sustainability strategy and our ability to continue progressing in key areas such as energy efficiency and environmental certification. They also reinforce our commitment to generating long-term value for investors, operators and local communities,” said David Hernández Nuñez, Sustainability Manager at NEINVER.
Measured progress in 2024
The recognition follows a year of solid performance across the managed portfolio, marked by a 5% reduction in operational emissions and a 3% decrease in energy consumption, despite challenging weather conditions and increased commercial activity. Since 2019, NEINVER has reduced energy use by 27.5% and total emissions by 31%.
These improvements have been driven by initiatives such as optimising building management systems (BMS), transitioning heating systems from gas boilers into electric heat pumps and the use of 100% renewable energy in 96% of common areas.
Circular economy and certification standards
In parallel, NEINVER has achieved a 92% waste recovery rate and continues to hold Zero Waste certification across all its centres. The renewal of BREEAM and AIS certifications, together with the company-wide implementation of its ESG strategy Building Tomorrow, reflects an operational model based on continuous improvement and measurable outcomes.
[1] The GRESB Real Estate Assessment is the global standard for ESG benchmarking and reporting for listed property companies, private property funds, developers and investors that invest directly in real estate. The Assessment evaluates performance against three ESG Components – Management, Performance, and Development. The methodology is consistent across different regions, investment vehicles and property types and aligns with international reporting frameworks. https://www.gresb.com/nl-en/real-estate-assessment/
