Ktesios becomes the first SOCIMI to achieve the ESG Rating of Valuation Society, and highlights its good performance in the social part.
Ktesios SOCIMI, leader in investment in affordable rental residential assets in non-prime areas, has become the first SOCIMI to achieve the ESG (Environmental, Social and Governance) Rating granted by Sociedad de Tasación, a company independent expert in valuations of all kinds of assets, especially real estate assets, which carries out this rating through a specific department of company valuation and sustainability assessment.
Ktesios has obtained a score of 77% in the rating, which represents a high sustainability performance with respect to its sector. Sociedad de Tasación has evaluated a total of 40 environmental, social and governance indicators, of which 13 have obtained a “very positive” rating, 12 “positive”, 13 “neutral” and 2 “negative”. Ktesios has stood out especially in the social part of the evaluation, where it has reached 81%, due to its strategy of facilitating affordable rentals in locations outside large cities, an approach that combines high profitability with social impact. In this way, the SOCIMI has scored highly in aspects such as contribution to the community and its involvement with the local economy, in addition to the inclusive design of the buildings.
In the environmental aspect, the SOCIMI’s contribution to improving the circular economy stands out, since its business model based on rehabilitation favors the optimization of resources and raw materials. In terms of governance, and its long-term viability, its performance is also high compared to its sector, in this case notable aspects such as the consideration of ESG aspects in the evaluation of the performance of managers and employees, its policy of donations and contributions and the high environmental capex, among others.
“We are very satisfied with the high score obtained in the evaluation and with the fact of being the first SOCIMI to obtain this rating. Our own strategy, which combines profitability and social impact in an integrated way, has allowed us to achieve a particularly high score in the “S” of ESG, one of the great challenges of the sector. Our commitment is to renew this rating on an annual basis, not only to verify our achievements in terms of ESG, but also to identify areas for improvement that allow us to continuously progress and be a benchmark in this regard”, says Henry Gallego, CEO of Ktesios SOCIMI.
José Manuel Castellano, Director of the Department of Sustainability and Business Valuation of Sociedad de Tasación: “It is a pleasure to see how Spanish companies are committed to improving, more and more, their internal structures and business culture, in addition to evolving their products with an ESG vision . In the case of Ktesios, after individually analyzing the 40 environmental, social and corporate governance indicators, typical of our Sustainability Rating (ESG), it has achieved an average score of 77%, an excellent performance that positions it above the industry average. We would like to congratulate Ktesios SOCIMI and hope that the company continues to improve and lead the adoption of ESG criteria and policies in the sector”.
The ESG Rating of Sociedad de Tasación is a solution that measures, evaluates and certifies the performance in sustainability, that is, in the environmental, social and governance aspects (ESG or ASG) of a company, according to the degree of compliance with the indicators of the European standard EFFAS. This type of report allows companies to identify points for improvement, prove their commitment to sustainability to financial institutions and customers and/or access aid and financing in windows of opportunity such as those that open with Next Generation funds.
During the last two and a half years, it has been developed for companies from different activity sectors (industrial, services, technology, energy or health, among others), with a special focus on companies in the real estate sector (construction companies, developers, real estate companies and now SOCIMIs).