Achieving SRI (Socially Responsible Investment) certification fits perfectly with BNP Paribas REIM’s Corporate Social Responsibility strategy. The roadmap to 2025 aims to have 100% of funds open to private investors and 90% of funds open to all investors compliant with sections 8 and 9 of the Sustainable Finance Disclosure Regulation (SFDR). Following the BNP Paribas Diversipierre OPCI, two of the division’s SCPI, namely Accimmo Pierre and Opus Real, obtained their SRI certification on December 22, 2021.
The real estate version of the SRI label was launched in July 2020 by the government to enable investors to easily identify savings and real estate investment products that incorporate ESG (Environmental, Social and Governance) criteria. The label is awarded to the funds for a renewable 3-year period with an annual review. It recognises funds that invest in the best performing assets in terms of environmental, social and governance issues, or funds that apply virtuous management practices to improve the ESG performance of assets over time.
BNP Paribas REIM opted for this second, so-called “best-in-progress” approach, which aims to improve the ESG performances of existing assets over time. This means Accimmo Pierre and Opus Real SCPIs have committed to a methodology to improve management of their assets and enhance their quality and resilience, enabling them to obtain the SRI label. It is the latest step in BNP Paribas REIM's ESG roadmap, which has a three-pronged approach: to reduce the CO2 emissions of assets, manage them responsibly and lastly to step up stakeholder commitments.
"We were awarded this certification thanks to the implementation of our ESG roadmap and the setting of tangible improvement targets for each asset. This collaborative approach showcases the high quality work of all teams, from investment to asset management. We shall continue our efforts in the coming years and strive to clearly show the positive environmental and social impact of this labelling process” explained Nehla Krir, Head of Sustainable Development & CSR for BNP Paribas REIM.
Accimmo Pierre is a longstanding SCPI of BNP Paribas REIM, with a large portfolio of over 80 buildings in France. In December 2020, Accimmo Pierre had more than 55,000 shareholders and had the third largest capitalisation among SCPI according to the Institut de l'Epargne Immobilière et Foncière. The fund mainly invests in new or recent high-quality office buildings, but also in retail, warehouse and industrial premises. Most of its assets are in the Paris region and the major regional cities. The fund focuses on buildings that meet the best environmental standards. This is indeed the case for its latest significant office acquisitions (HQ of the Conseil Régional d'Ile de France, a new building completed in early 2020 that satisfies the latest occupier requirements and holds HQE Conception "Excellent" certification, largely thanks to its connection to the city' s waste collection network), as well as in logistics (a new platform – acquired in 2019 and delivered in 2020 - located in the Lyon suburbs, featuring nearly 70,000 sqm of solar panels and boasting a number of certifications, including the BiodiverCity Conception "performant" label).
Opus Real is an SCPI that was opened in 2017 with a view to investing in Germany. It has five high quality and recent assets, located in leading German cities: Frankfurt, Munich, Bremen and Düsseldorf. They are mainly office buildings that meet both new tenant requirements and the highest environmental standards. The fund recently signed a pre-sale agreement to buy a DIY shop under construction in Bremen. This acquisition is a good illustration of how ESG considerations are being factored into the investment policy. It will feature an innovative lighting concept with individual controls and LED lights. Solar panels will be installed on the roof to generate sustainable energy. The site will have a heat recovery system and optimal insulation to avoid energy loss. There are also plans for 70 parking spaces for bicycles and electric charging stations.
“We are proud of these two new SRI certificates, which mean our open-ended retail fund range will be fully certified by Q2 2022. It also enables BNP Paribas REIM to offer responsible investment solutions in both France and Europe,” adds Jean-Maxime Jouis, Global Head of Fund Management for BNP Paribas REIM.