GRESB and Fitch ESG Ratings
VIA Outlets Reconfirms Sustainability Credentials with Top 5-Star ESG Rating from GRESB and Second-Highest Fitch ESG Ratings
AMSTERDAM, 21 October 2024 – VIA Outlets, Continental Europe’s fastest-expanding owner-operator of premium fashion outlets by gross lettable area (GLA) over the past decade, has achieved the top 5-star rating in GRESB’s 2024 Real Estate Sustainability Benchmark Report for the fifth consecutive year, along with the second-highest Fitch ESG Entity and ESG Framework Ratings.
The maximum 5-star GRESB rating was attained again even though the new standard entails a more rigorous assessment of sustainability practices, new asset-level benchmarks, and enhanced alignment with emerging investor priorities. VIA Outlets’ overall GRESB score of 92 out of 100 outstrips both the peer (82) and GRESB Benchmark Group (76) averages. VIA Outlets achieved perfect scores in the Social and Governance sections, and significantly outperformed its peer group on environmental factors thanks to excellent scores on Energy, GHG Emissions, Waste Management, and Data Monitoring and Review. VIA Outlets ranked in the top quartile of both its ‘Europe, Shopping Center’ and ‘Retail, Europe’ peer group categories.
Geert Paemen, VIA Outlets Head of ESG, said: “Securing a GRESB 5-star rating for the fifth year running demonstrates VIA Outlets’ determination to be the market leader in sustainable outlet shopping. We are committed to responsible business practices and finding diverse ways to minimise our environmental impact across all aspects of our operations. This year’s score reflects the expanding on-site solar power capacity of our portfolio, the energy efficiency strategies we have incorporated and adapted to each of our 11 European fashion outlets’ characteristics, and our dedicated focus on health and safety and engagement with our brand partners.”
Fitch affirms Level 2 ESG rating
In addition, VIA Outlets again achieved a Level 2 Fitch ESG Entity Rating and Fitch ESG Framework Rating, the second highest achievable, from global ratings firm Fitch. The rating recognises the progress VIA Outlets is making in its portfolio and value chain ‘Beyond Sustainable’ strategy.
Otto Ambagtsheer, CEO of VIA Outlets, added: “At VIA Outlets, we continue to take sustained action to meet our Net Zero-aligned energy efficiency and emissions targets, and social and governance objectives. Next to this, we work closely with our local and international brand partners to advance their and our sustainability agendas, to achieve our collective goals and targets. This year’s reconfirmation of the GRESB and Fitch ratings are a testament to the progress we are making together and shows that our “Beyond Sustainable” strategy, which is based on the four pillars of Sustainable Buildings, Resilient Communities, Responsible Consumption and Engaged Stakeholders, is working to achieve the short- and long-term targets of our ESG strategy.”