SATO scores three stars in Global Real Estate Sustainability Benchmark (GRESB) assessment
Oct 20, 2021
SATO participated for the seventh time in the Global Real Estate Sustainability Benchmark (GRESB) assessment providing an internationally comparable score. SATO scored three stars in the GRESB assessment. SATO’s ranking is at the average level in its peer group, Northern European housing investment companies.
SATO has been making long-term sustainability efforts. Responsibility and sustainable housing is one of the priorities of SATO’s strategy. SATO is aiming to be carbon neutral by 2030 as regards carbon dioxide emissions from property energy usage. Lifecycle thinking guides the company’s activities from housing construction to repairs, and SATO encourages its residents to make sustainable everyday choices.
This was already the seventh time that SATO participated in the Global Real Estate Sustainability Benchmark (GRESB) assessment providing an internationally comparable score. SATO’s point score dropped slightly from last year, and SATO received three stars this time. Our activities were affected by the COVID-19 pandemic, and the time spent by our residents at home was reflected in issues such as increased water consumption. Due to the state of emergency and the restrictions in place in 2020, we were unable to implement all of the measures we had planned for our properties and did not set and monitor sustainability management targets in the same way as before.
An area in need of development for SATO brought up by GRESB is the lack of environmental certificates for properties. So far, certificates have been utilised mainly in the construction of new business premises and shopping centres and they are not widely used for residential buildings in Finland.
According to the assessment, in addition to sustainability reporting, the strengths of SATO are risk management, resident satisfaction and communality, stakeholder engagement, and comprehensive monitoring and transparent operating principles and reporting.
GRESB harmonises reporting in the sector
The Global Real Estate Sustainability Benchmark (GRESB) assesses the sustainability performance of real estate portfolios. The GRESB assessments have introduced a uniform and comparable reporting model for the real estate sector that increases and supports investment decisions. The aspects measured are Management, Policy & Disclosure, Risks & Opportunities, Monitoring & EMS, Performance Indicators, Building Certifications, and Stakeholder Engagement.
GRESB has been conducting an international benchmark since 2009, and the results of the participating enterprises form a comparative matrix. In 2021, a total of 1,520 companies and funds from 64 different countries took part in the assessment.
The GRESB assessment provides important tools for maintaining and developing a sustainable approach.
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SATO is one of Finland's leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer experience. At year-end 2020, SATO owned nearly 26 800 apartments in Finland's largest growth centres and in St Petersburg.
We promote sustainable development and initiative through our operations and work in open interaction with our stakeholders to generate added value. We operate profitably and with a long-term view. We increase the value of our housing stock through investments, divestments and repairs.
SATO Group's net sales in 2020 were EUR 303,4 million, operating profit EUR 179,6 million and profit before taxes EUR 129,5 million. The value of SATO's investment property is roughly EUR 4,8 billion.