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ESR pledges to ramp up rooftop solar

3rd May 2023

ESR has launched a 2030 roadmap for sustainability.

The Asia Pacific real estate investment manager said the new ESG 2030 Roadmap built on achievements under the 2025 roadmap, launched in 2020.

Jeffrey Shen and Stuart Gibson, ESR co-founders and co-CEOs, said: “Since the launch of the ESG 2025 Roadmap in 2020, we have taken big strides forward in our ESG journey. We continue to raise the bar on our ESG actions and impact, creating long-term value for our stakeholders.”

Since 2020, ESR, which has $150 billion of assets under management, has installed nearly 100MW of rooftop solar power capacity across its portfolio, exceeding its initial target of 52 MW by 2025. It has also improved the male/female staff ratio to 55/45 from 60/40 and secured sustainability certifications for 39% of its portfolio, as well as securing $3 billion of sustainability-linked loans.

The 2030 roadmap targets include achieving a 50/50 gender balance, sustainability certifications for 50% of the portfolio and creating an ESR Group Foundation programme with an investment capacity of up to US$20 million. 

The most ambitious target is to install 1,000MW of rooftop solar capacity across the group’s portfolio, which has 45 million sq m of gross floor area.

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