TORONTO, Oct. 3, 2023 — Starlight Investments is proud to share its 2023 results from the Global Real Estate Sustainability Benchmark (“GRESB”). For the second consecutive year, Starlight has fared exceptionally well, with Starlight Canadian Residential ranking first in the Canada Residential: Multi-Family Non-listed peer group while strong improvement was seen in the performance of Starlight US Residential and Starlight Commercial Private, respectively.
“We are immensely proud of our performance in this year’s GRESB assessment, which serves as a testament to our unwavering commitment to Environmental, Social, and Governance (ESG) excellence,” said Marlee Kohn, Vice President, ESG. “This recognition is not just an accolade but a reflection of our dedication to creating complete communities that are both sustainable and beneficial for our residents. As we continue to set new benchmarks in ESG practices, our focus remains on driving positive change and fostering a culture of responsibility and innovation.”
Engaging with GRESB continues to offer Starlight a robust framework for performance assessment, particularly as we deepen our commitment to Environmental, Social, and Governance (ESG) principles in every facet of our operations. From our investment strategies to our procurement practices and community engagement, GRESB’s benchmarking capabilities enable us to measure our progress effectively.
The GRESB ESG Benchmark grew this year to cover more than USD $8.8 trillion of gross asset value, encompassing 2,084 real estate entities, 687 infrastructure assets and 172 infrastructure funds. With its strong presence, GRESB serves as an invaluable tool for comparing Starlight’s ESG initiatives with industry peers, as evidenced by our exceptional performance in the 2023 results.
Used by 170 institutional and financial investors across the globe, GRESB recognition reinforces Starlight’s capability to deliver substantial value to our stakeholders. They serve as a catalyst for integrating our environmental and social impacts, as well as governance practices, into the core narratives aimed at our investors, partners, employees and residents. Our strong showing in the 2023 GRESB results, particularly with the Canadian Multi-family group’s second consecutive first-place ranking, underscores our commitment to responsible investment and community improvement.
“The GRESB benchmarking process is invaluable to Starlight Investments, not only for the recognition it brings but also for the comprehensive insights it offers into our operational performance, said Glen Hirsh, Chief Operating Officer. “It provides a robust framework that allows us to effectively communicate our achievements to our stakeholders, from investors and partners to employees and residents. This data-driven approach enables us to continually refine our strategies, ensuring we are always at the forefront of industry best practices.”
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 172 institutional and financial investors to inform decision-making. For more information, visit GRESB.com.
Starlight Investments is a leading global real estate investment and asset management firm. A privately held owner, developer and asset manager of over 77,000 multi-residential suites and over 9 million square feet of commercial property space, we offer a range of investment vehicles across various real estate strategies. Starlight’s guiding mission is to balance our tenure with visionary curiosity to create positive impact for investors and communities alike. At Starlight, we invest with impact. Learn more at www.starlightinvest.com or connect with us on LinkedIn.