As a continuation of PGIM Real Estate’s ongoing efforts to accelerate its commitment to its environmental, social and governance (ESG) objectives, PGIM Real Estate has been recognized as a signatory to the UK Stewardship Code. PGIM Real Estate is the $206.8 billion real estate investment and financing business of PGIM.
Administered by the Financial Reporting Council, the UK Stewardship Code sets high standards for organizations investing capital on behalf of UK savers and pensioners.
The UK Stewardship Code defines stewardship as the responsible allocation, management and oversight of capital to create long-term value for clients and beneficiaries leading to sustainable benefits for the economy, the environment and society.
Julie Townsend, ESG lead for Europe and Asia Pacific at PGIM Real Estate, commented: “We are pleased to be recognized by the FRC as a signatory to the UK Stewardship Code. As we continue to raise the bar on our ESG efforts on behalf of all of our stakeholders globally, we remain focused on increasing data collection and assurance, continuing to increase our impact as a leading real estate lender, and ensuring that all our global employees receive the training and incentives necessary to increase stewardship in every aspect of what we do.”
This recognition follows PGIM Real Estate’s July 2022 membership to the UK’s BBP, the industry organization that offers best practices, resources and leadership for decarbonization in the real estate industry.