Sonae Sierra has signed the Principles for Responsible Investment (PRI), a United Nations-backed investor network promoting responsible investment. The company is committed to sustainable investing and to embedding environmental, social and governance ESG criteria in investment decisions. Sierra is thus part of the investor network that is considered a leader in the application of best practices in responsible investing and that enjoys a high level of trust and credibility.
The commitment dovetails with the company’s history and positioning. For more than 20 years, sustainability has been a mainstay for Sierra across all of its businesses. The renewed commitment to sustainability is also in line with the latest strategic direction. This applies in particular to the growth strategy in the area of investment management and the partnership with leading and responsible investors worldwide.
Fernando Guedes de Oliveira, Sierra’s Chief Executive Officer, says: “The PRI are in line with our sustainability strategy. Their environmental, social and governance principles are consistent with our values, which we have followed since 1995. We want to be part of the investor network that stands for change and achieves the implementation of ESG principles at a high global level. By signing the PRI, Sierra is making another public commitment to responsible investing. Our investors appreciate that we are paying increasing attention to the issue and supporting companies in respecting ESG principles and applying them according to best practices.”
The PRI investor network has defined six principles that align investors with companies’ growth objectives and needs. Signatory companies commit to implementing these principles. This includes incorporating ESG criteria into investment analysis and decisions, and collaborating with other companies in the network to increase effectiveness in implementing ESG measures.
At the end of last year, Sierra Prime and Iberia Coop, funds managed by Sierra, received the Green Star from GRESB Real Estate Assessment for the 13th consecutive year. The Green Star is GRESB’s way of recognizing the ESG performance of real estate assets worldwide.
Sierra is also the first Portuguese real estate company to refinance part of its debt by issuing bonds linked to sustainability performance. This strengthens the company’s leading role in the management of sustainable investment vehicles.
