Stoneweg US solidifies its leadership in sustainable asset management with remarkable achievements in the 2024 GRESB rankings. The company, a renowned asset manager in the multifamily real estate sector, has announced significant progress with its management of Varia US Properties AG's portfolio. This Swiss-owned, publicly traded real estate company has scored an impressive 87 points and secured 4 stars in the latest GRESB (Global Real Estate Sustainability Benchmark) results. Notably, the portfolio managed by Stoneweg US has risen to 3rd place in the "US Listed Multifamily" category, up from 4th in 2023 and 8th in 2022. This improvement showcases Stoneweg US's dedication to sustainable asset management and its impact on elevating Varia US's GRESB performance, showcasing a notable year-on-year progression in several key areas of the portfolio's evaluation.
Our performance for Varia US reflects our steadfast dedication to embedding sustainability into every aspect of our operations.
Patrick Richard, CEO of Stoneweg US, expressed the company's commitment to long-term value through sustainable practices. "By integrating responsible development, we aim to optimize asset performance, balancing environmental care with financial outcomes to deliver significant value to both residents and investors, while fostering sustainable communities." The 2024 results further underscore Stoneweg US's excellence in ESG (Environmental, Social, and Governance) performance. With a benchmark score of 87 out of 100 and another 4-star rating, Varia US achieved its best GRESB result yet, outperforming peers by scoring above the average (81 in 2024 compared to 79 in 2023).
Under Stoneweg US's guidance, Varia US has made significant advances, particularly in evaluating risk and improving data on asset-level performance. For instance, they have bettered their metrics on greenhouse gas emissions, water use, and waste management. Landlord-controlled energy performance has improved by 4.5%, greenhouse gas emissions reduced by 4%, and 60% of the portfolio now holds the ENERGY STAR Performance Certification, all of which emphasize the company's leadership in sustainability and energy efficiency. In 2023, Stoneweg US generated 27 MWh of renewable energy, marking a threefold increase over the previous year, thanks to investments in renewable energy on-site.
Stoneweg US remains committed to furthering ESG objectives for Varia US, progressing steadily with sustainable building certifications and engaging all stakeholders in the process to ensure these certifications contribute value. Together with Varia US, the firm has set ambitious goals, such as a 20% reduction in energy and water use by 2033, and a 50% decrease in greenhouse gas emissions, using 2023 as a baseline. Furthermore, the partners aim to reach net zero emissions by 2050 in alignment with the Science Based Target Initiative.
Through our continuous focus on renewable energy, resource efficiency, and emissions reduction, we are achieving real results.
Thomas Stanchak, Managing Director of Sustainability at Stoneweg US, emphasized the company's pivotal role in boosting Varia US's sustainability progress. "Stoneweg US remains dedicated to these goals, creating value for both residents and investors, and reinforcing its leadership in sustainable multifamily real estate." The 2024 GRESB results reiterate Stoneweg US's ongoing leadership in sustainable asset management, committing to long-term responsible investments.
For more on Stoneweg US's sustainability initiatives and asset management services, as well as to access the "GRESB Real Estate Benchmark Report 2024" and their Annual ESG Report for Varia US, visit the company's website. Stoneweg US, based in downtown St. Petersburg, FL, manages a portfolio worth approximately $2 billion, covering around 11,000 units, with a focus on sustainable community development and proven value-add strategies to enhance returns and improve resident experiences.
