AWARDED LEADER FOR DEVELOPMENT IN THE EUROPEAN AND GLOBAL INDUSTRIAL LISTED SECTORS
AWARDED 81/100 AND FOUR GREEN STARS FOR OUR STANDING PORTFOLIO
Acting sustainably and responsibly is fundamental to our ability to deliver long-term value for shareholders and other stakeholders
Tritax Big Box REIT plc (the Company) (ticker: BBOX), a leading investor in and developer of high-quality large scale sustainable logistics real estate in the UK, is pleased to announce that in the 2021 survey by GRESB (Global Real Estate Sustainability Benchmark) released today the Company has been awarded four Green Stars out of a maximum of five. This compares to the previous three stars awarded to the Company in 2020.
Our GRESB 2021 score of 81/100 for the Company's standing portfolio shows strong improvement against our 2020 GRESB survey score of 72/100 and compares very favourably against the 64/100 average score in 2021 for its peer group.
The Company has also been awarded the GRESB 2021 Leader for Development in the European and Global Industrial Listed Sectors, achieving the highest score for the industrial sector with a score of 97/100 and the maximum of five Green Stars (2020: 91/100, five Green Stars).
The latest GRESB scoring reflects the Company's strong and increasing focus on ESG to improve further the ESG performance and credentials of the Company both through its investment and development portfolios, with progress achieved by delivering enhanced sustainability initiatives, such as solar PV and sustainable construction practices. The high and improved scoring also recognises the embedding and enhancing of ESG practices by the Company and the Manager, from governance policies and ESG risk assessment through to employee and wider stakeholder engagement. The strong and strengthening tenant engagement also increased this year's data collection significantly, enabling the Company to enhance measurement and drive further sustainability improvements both now and going forward.
We have further enhanced the Company's ESG credentials with our debut £250 million green bond issuance in November 2020, the First Sterling Green Bond Issuance by a UK REIT. This is now contributing towards the funding of the Company's extensive pipeline of new developments that are being built as best-in-class, net zero carbon buildings and which will be BREEAM certified as either "Very Good" or "Excellent."
We continue to create and implement programmes that further enhance the Company's ESG credentials over both the short and longer term, supporting the Company's 2030 Sustainability Strategy and Vision. We recognise the importance of sustainability to our customers, shareholders and the communities around our assets. We firmly believe that a rigorous focus on sustainability will ensure our long-term viability and commercial success, by helping us to make sound decisions in the best interest of all our stakeholders.
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