The international authoritative ESG rating agency GRESB (Global Real Estate Sustainability Benchmark) officially released the rating results of the participating companies for the year 2024 on October 10. Yuexiu Property Company Limited has achieved another increase in rating for the second consecutive year due to its outstanding ESG management level and performance. It has once again received the Green Four-star Rating from GRESB, with full marks in the social and governance dimensions, demonstrating outstanding performance in corporate social responsibility and governance.
(Image source: GRESB 2024 Annual Rating Report)
Founded in 2009, GRESB is a leading global ESG rating benchmark for real estate and infrastructure investments, with coverage in 75 countries and regions, providing capital markets with standardised data and information annually for use by listed real estate companies, private real estate funds, developers, and investors investing in real estate. GRESB employs a rigorous methodology and a consistent evaluation framework to guide performance assessments by incorporating key issues of broad investor and industry concerns. It is aligned with major international reporting frameworks such as the United Nations Sustainable Development Goals and the Paris Agreement, garnering widespread recognition and application in capital markets. In 2023, GRESB saw a 15% increase in participation compared to 2022, with 2,084 real estate investment portfolios, 172 infrastructure funds, and 687 infrastructure assets valued at a total of $8.8 trillion undergoing assessment.
In the rating report released by GRESB, Yuexiu Property achieved a total GRESB score of 93 points, showing consecutive improvements for two years, surpassing industry peers and the GRESB average score. In the environmental, social and governance (ESG) dimensions, Yuexiu Property scored 44 points, 25 points, and 24 points respectively, with full marks in the social and governance dimensions, earning high recognition from GRESB.
Continuous Innovation In Green Building Technology Leads To Healthy Living Environments
Yuexiu Property upholds green healthy buildings characterised by "respect for nature, people-oriented, healthy and comfortable, intelligent and low-carbon", actively driving the development and innovation of green buildings. As early as 1990, the company embarked on green building project initiatives, introducing simulation and ecological technologies in the architectural design phase. Using CFD simulation technology to optimise the design scheme, Yuexiu Property created iconic projects such as the Mingyayuan, Glade Village and Jiang Nan New Mansion, etc. In 2012, Yuexiu Property introduced the second-generation green and healthy technology, advancing the establishment of a green technology system. The "Yuexiu Property Green Building White Paper" released in 2013 further established the company's leading position in the field of green building, and multiple projects have obtained green building certification. Nowadays, Yuexiu Property's green health technology has developed to the fifth generation. The release of the "Healthy House System 2.0" product, established ten major health systems such as Joyful Air, Joyful Clean Water, Joyful Silence, etc. These systems are applied in multiple projects including Pazhou South TOD and Qingdao Grand Mansion, with a strong emphasis on meeting customers’ health-oriented living needs.
(Yuexiu Property Green Health Technology Development Process)
Achieving the "Dual Carbon" Targets and Promoting The Practice Of Green Buildings
Under the background of the national "30 | 60" dual carbon target, Yuexiu Property will build "Dual Zero" buildings in Baiyun District, Guangzhou in 2024, adopting the concept of "Passive Priority, Active Optimisation, and Renewable Energy Utilisation", with the formulation of a "2+3+11" technical system, namely "2 paths + 3 major modules + 11 technologies", to create zero energy and zero carbon buildings. The goal is to establish a Dual Zero building technology system for Yuexiu Property in hot summer and warm winter areas, forming a replicable and scalable demonstration model. The project is scheduled to be officially opened within this year.
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Looking Ahead To The Future, Promoting Sustainable Development
The consecutive improvements in GRESB ratings over the past two years demonstrate the significant progress Yuexiu Property has made in the field of sustainable development. In the future, Yuexiu Property will continue to drive the development of green buildings, green supply chains, and green finance, aiming to enhance ESG performance and contribute to the green transformation of the real estate industry and the sustainable progress of society and the economy.