Thursday, 18 December 2025
Neptune, the joint venture between NEINVER and Nuveen Real Estate, part of the TIAA group, has once again achieved the highest recognition in the Global Real Estate Sustainability Benchmark (GRESB), marking the sixth consecutive year it has earned a five-star rating.
The 2025 assessment gave Neptune a score of 93 out of 100, two points higher than last year. The result places the venture 10 points above the average in its European peer group and 14 points above the global GRESB average. Among the ten largest commercial real estate portfolios in Europe, Neptune ranks third.
The evaluation covered 15 properties managed by NEINVER under the joint venture, including 13 outlet centres and two retail and leisure parks located in Spain, France, Italy, the Netherlands, and Poland. The report highlighted strong performance in management practices and continued improvements in energy efficiency, waste recovery, and emission reduction.
“These results reflect the consistency of our sustainability strategy and our ability to continue making progress in key areas such as energy efficiency and environmental certification,” said David Hernández Núñez, Sustainability Manager at NEINVER. “They also reinforce our commitment to creating long-term value for investors, operators, and local communities.”
In 2024, the company recorded a five percent reduction in operational emissions and a three percent drop in energy consumption, despite higher commercial activity and adverse weather conditions. Since 2019, energy use has fallen by nearly 28 percent, while total emissions have declined by 31 percent. These gains have been achieved through upgrades to building management systems, replacing gas boilers with electric heat pumps, and sourcing 100 percent renewable electricity in almost all common areas.
NEINVER also reported a 92 percent waste recovery rate, maintaining its Zero Waste certification across all centres. The company continues to renew BREEAM and AIS certifications in line with its ESG “Building Tomorrow” strategy, which promotes continuous improvement and measurable performance.
The GRESB framework serves as a global standard for evaluating ESG performance in real estate. It measures companies and funds based on management, performance, and development indicators, offering investors a comparable benchmark across regions and asset types.
Neptune’s latest result confirms its place among the most sustainably managed commercial real estate portfolios in Europe and demonstrates the long-term value of consistent environmental management in the retail property sector.
