The South African Real Estate Investment Trust Association (SA REIT) has announced a strategic partnership with Nedbank Corporate and Investment Banking (CIB) to launch the SAREIT Sustainability Guide, aimed at establishing sustainability standards and best practice benchmarks for the real estate sector in South Africa.
The SAREIT Sustainability Guide, scheduled for release in the coming months, will be an essential resource for property professionals, investors, and stakeholders dedicated to sustainable development. It provides actionable strategies to enhance environmental, social, and governance (ESG) performance within the real estate industry, aligning with global sustainability goals and reinforcing SA REIT and Nedbank CIB’s commitment to driving positive change in the property sector.
Joanne Solomon, Chief Executive Officer of SA REIT Association commented: “The partnership with Nedbank CIB marks a significant milestone for SA REIT as we strive to foster sustainability within our industry.
“The SAREIT Sustainability Guide will equip our members with the tools needed to implement sustainable practices, contributing to the long-term resilience and success of the real estate sector.”
Solomon said the Johannesburg Stock Exchange (JSE) is considering revising its Sustainability and Climate Change Guidance, and the SAREIT Sustainability Guide’s release is strategically timed to incorporate any potential forthcoming changes, ensuring it remains relevant and comprehensive.
Leading financier
Nedbank CIB has been a leader in promoting sustainability within the financial and real estate sectors. As a pioneer in sustainable finance, Nedbank CIB has consistently championed initiatives that integrate ESG considerations into business operations and investment decisions. Their extensive portfolio of green finance solutions and establishment of in-house EDGE Expert green certification services underscores their commitment to supporting the transition to a low-carbon economy.
Genevieve Naidoo, Property Finance Divisional Executive at Nedbank CIB said: “Our collaboration with SA REIT on the SAREIT Sustainability Guide reflects Nedbank CIB’s ongoing dedication to advancing sustainability across all sectors, particularly in real estate.
“By leveraging our expertise in sustainable finance, we aim to drive the adoption of responsible practices within the real estate industry, fostering long-term growth and resilience.”
Nedbank CIB’s involvement in the SAREIT Sustainability Guide project exemplifies its role as a catalyst for sustainable development in real estate. The bank has been instrumental in financing numerous environmentally and socially responsible real estate projects, contributing to South Africa’s sustainable development goals. Through this partnership, Nedbank CIB aims to further extend its impact, ensuring that sustainability becomes a core principle within the real estate sector.
The SAREIT Sustainability Guide will be available to SA REIT members and the broader property community. For more information on the guide and the partnership, please email info@sareit.co.za
