The BBP is delighted to welcome Morgan Stanley Real Estate Investing (“MSREI”) to its membership. Their joining takes the membership up to 48.
Morgan Stanley Real Estate Investing is the global private real estate investment management business of Morgan Stanley. MSREI currently manages $55 billion of gross real estate assets worldwide on behalf of its clients.
As part of Morgan Stanley Investment Management (“MSIM”), MSREI shares MSIM’s alignment to ESG by promoting, encouraging and developing solutions that contribute to sustainable development and building operations. MSIM is a signatory to the United Nations Principles for Responsible Investment (“UN PRI”) and has adopted Environmental, Social and Governance (“ESG”) Principles at an organisational level, in keeping with the UN PRI. It is important to MSREI that the environmental footprint of assets is managed in a way that reduces negative impacts while maximizing efficiency and value to their clients and the communities in which it operates.
MSREI has created a Sustainability Framework to promote ESG practices across its business. The Framework’s focus areas include, where appropriate, integrating ESG criteria throughout the investment process(1), driving environmental and operating performance across assets, and improving ESG transparency and disclosure. As an example of this, MSREI’s funds seek to participate in the Global Sustainability Real Estate Benchmark (“GRESB”), to the extent appropriate.
Sarah Ratcliffe, CEO, Better Buildings Partnership said: “We are thrilled to welcome another new member to the BBP. Morgan Stanley has a clear commitment to addressing sustainability across their organisation and we look forward to learning more about how this is implemented within their real estate investment portfolio. The BBP is highly collaborative and Morgan Stanley will join our members in contributing to the outputs of the BBP, demonstrating industry leadership and driving market transformation.”
Mona Benisi, Head of Sustainability for Global Real Assets, Morgan Stanley said: “We are thrilled to become a member of the Better Buildings Partnership. We are focused on minimizing the environmental impact whilst enhancing the financial performance of our assets. We recognize that the Real Estate sector has an important role to play in climate change mitigation and adaptation, and we are excited to collaborate with fellow members to progress sustainable practices within the sector.”
(1) This press release includes certain information on the sustainability practices and track record of Morgan Stanley, MSIM and MSREI at an organisational and investment team level, which may not necessarily be reflected in the portfolio or practices of a particular fund. Please refer to the offering documents of any fund prior to investment for details on how, and the extent to which, the relevant fund takes sustainability considerations into account on a binding or non-binding basis.