L'ISR chez Primonial REIM : Interview de Daniel While
Director of Research, Strategy and Sustainable Development at Primonial REIM
What is the SRI approach for Primonial REIM France label funds?
Our approach is based on an ESG rating grid specific to each type of asset: offices, healthcare, etc. It includes 90 criteria divided into seven themes, such as environmental risks or services to occupants. Each theme is weighted to obtain an average score corresponding to the ESG rating of the asset. 100% of Primonial REIM France's acquisitions are therefore subject to an extra-financial rating.
Our label funds have a target rating. It sets the objective to be reached and guides the management of the ESG performance of assets. Assets with a higher rating must be maintained above this threshold. Conversely, those with an insufficient rating benefit from improvement plans including, for example, works, optimisation of charges or technological innovations.
The PREIM SRI OPCI is distinguished by its best-in-class approach. Why is this new fund complementary to the SCPI Primopierre?
Unlike the SCPI Primopierre, which primarily aims to improve the ESG performance of assets, the OPCI PREIM ISR proceeds by exclusion: properties with an ESG rating of less than 70/100 are not eligible. Primonial REIM France then undertakes to maintain the rating of the selected properties above this threshold.
This requirement is part of a market marked by a flight to quality phenomenon: investors favor the most resilient assets in times of crisis. The PREIM SRI OPCI meets this demand while promoting the financing of the most socially and environmentally efficient properties.
"Since January 2022, the SCPI Primovie, the largest healthcare fund with more than €4 billion in capitalization), has been labeled SRI"
What is the role played by stakeholders (tenants, property managers, work providers, etc.) in your SRI approach?
The commitment of all our stakeholders is essential. The inclusion of ESG clauses in our contracts encourages dialogue and makes it possible to improve everyone's practices in a partnership approach. For example, the contract with our tenants requires that ESG issues be included in the agenda of our meetings.
What are Primonial REIM France's SRI objectives?
Primonial REIM France aims to accelerate the development of its SRI policy in France and Europe. Since January 2022, the SCPI Primovie, the largest healthcare fund with over €4 billion in capitalization, has been labeled SRI. By expanding our range of responsible funds, we hope to set new standards in a sector where Primonial REIM France is a pioneer.
Past investments are not indicative of future investments.
Past performance is not a reliable indicator of future performance.
Investing in a real estate fund involves a risk of capital loss.
Potential income is not guaranteed and may rise or fall depending on economic and real estate conditions.
Liquidity is limited, so it is an investment to be considered over the long term.
Primonial REIM France indicates that the decision to invest takes into account all the characteristics and objectives of the fund, as described in its prospectus.