SATO scores two stars in Global Real Estate Sustainability Benchmark (GRESB) assessment
Oct 28, 2022
SATO Corporation, Press release, 28 October 2022 at 12:00
SATO participated for the eighth time in the Global Real Estate Sustainability Benchmark (GRESB) assessment providing an internationally comparable score. SATO scored two stars in the GRESB assessment. SATO’s ranking is at the average level in its peer group, Northern European housing investment companies.
One of Finland’s largest rental housing providers, SATO owns around 25,000 rental apartments that are home to around 50,000 people. SATO has been making long-term sustainability efforts for many years, and sustainability was assigned one of the cornerstones of the company’s strategy last year. Sustainability is one of the key components of SATO’s long-term value generation for its various stakeholders and can be seen as concrete actions in everything the company does. SATO is aiming to be carbon neutral by 2030 as regards carbon dioxide emissions from property energy usage. Lifecycle thinking guides SATO’s activities from housing construction to repairs, and the company encourages and guides its residents to make sustainable everyday choices. SATO aims to be a forerunner in sustainable rental housing.
This was already the eighth time that SATO participated in the Global Real Estate Sustainability Benchmark (GRESB) assessment providing an internationally comparable score. SATO’s point score dropped by one point from last year in the Standing Investments Benchmark (this year’s points 73) and increased to 75 from last year’s 71 in the Development Benchmark. In addition, SATO received the Green Star for both components. This is a recognition for entities with a score higher than 50% of the points available.
SATO performed well in social sustainability. SATO’s strengths include diverse stakeholder relations, comprehensive employee health and wellbeing programme and measures, risk management, and health and safety of tenants.
SATO scored the lowest points in environmental certificates of buildings, as SATO-owned buildings have not been systematically certified. Certificates for residential buildings are, however, gradually becoming more common in Finland, and SATO is looking into potentially using them in new construction and renovation projects. Other areas in need of development for SATO brought up by GRESB are processes relating to materials selection and monitoring in construction projects, and monitoring of water consumption, with measures relating to these already being planned in accordance with SATO’s Sustainability Programme for 2023−2026.
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 2022, a total of 1,820 companies and funds from 74 different countries took part in the assessment.
For more information about SATO’s sustainability please contact:
Markku Honkasalo, Chief Financial Officer, SATO Corporation, email@example.com, phone: +358 20 134 4226
Susanna Kari González, Sustainability Manager, SATO Corporation, firstname.lastname@example.org, phone +358 201 34 4194
SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.
SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.
In 2021, SATO Group’s net sales totalled EUR 298.3 million, operating profit EUR 304.5 million and profit before taxes EUR 259.4 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi