The Board is committed to Cromwell Property Group meeting securityholders’ and stakeholders’ expectations of good corporate governance. The Board is proactive with respect to corporate governance and actively reviews developments to determine which corporate governance arrangements are appropriate for Cromwell Property Group and its securityholders and stakeholders.
In FY19, Cromwell achieved a Global Real Estate Sustainability Benchmark (GRESB) score of 86/100, including a governance score of 91/100, reflecting Cromwell’s commitment to environmental, sustainability and governance (ESG) best practice.
Cromwell also received a rating of AA (on a scale of AAA-CCC) in the 2019 MSCI ESG Ratings assessment, classifying the business as an industry ‘Leader’.
Additionally, GRESB awarded the Cromwell Diversified Property Trust, which contains the Australian balance sheet properties, an ‘A’ level Public Disclosure rating for the third consecutive year.
“Cromwell has been reporting on its ESG performance for more than ten years,” said Cromwell Chief Executive Officer, Paul Weightman.
“It is an area which is very important to us, our securityholders, investors and other stakeholders. Cromwell’s Board is absolutely committed to meeting good corporate governance and ESG expectations.”
“It is therefore very pleasing that our efforts have been independently recognised by both GRESB and MSCI,” Mr Weightman concluded.
MSCI ESG Research provides in-depth research, ratings and analysis of the environmental, social and governance-related business practices of thousands of companies worldwide. The research is designed to provide critical insights that can help institutional investors identify risks and opportunities that traditional investment research may overlook. The MSCI ESG Ratings are also used in the construction of the MSCI ESG Indexes, produced by MSCI, Inc.
MSCI ESG Research provides MSCI ESG Ratings on global public and a few private companies on a scale of AAA (leader) to CCC (laggard), according to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers.
The use by Cromwell Property Group of any MSCI ESG Research LLC or its affiliates (MSCI) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Cromwell Property Group by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.