Baltic Horizon Fund Unveils Its Comprehensive ESG Report for 2024
Today, the Baltic Horizon Fund has released its annual ESG report, showcasing its commitment to environmental, social, and governance practices.
Since the inception of its ESG strategy in 2019, the Fund has dedicated significant resources to enhance sustainability throughout its asset portfolio. This ongoing commitment is evident in the Fund's determined efforts to navigate a rapidly evolving investment landscape.
In a year that posed numerous challenges, the management team focused on optimizing portfolio performance. Tarmo Karotam, the Fund Manager, stated that in 2024, attention was heavily directed toward elevating ESG data quality and embracing renewable energy sources that align with rising tenant demands for sustainable spaces.
ESG Performance Highlights for 2024
This year's report highlights remarkable achievements for Baltic Horizon Fund.
The Fund proudly maintained a stellar record with a 100% BREEAM certification across its portfolio. Notably, the Meraki office building received its BREEAM New Construction certificate with an Excellent rating, exceeding its previous Very Good classification.
In a bid to strengthen partnerships, Baltic Horizon Fund employs green leases to formalize sustainability commitments with its tenants, achieving a remarkable 98% coverage of green leases in 2024.
The Fund has also committed to adhering to the EU Taxonomy, where a commendable 23% of its real estate investments met substantial contribution criteria, up from 14% the previous year.
By focusing on renewable energy, 86% of the Fund's electricity consumption was sourced from renewable sources during 2024. Two assets incorporated on-site solar panels, while private power purchase agreements (PPAs) were signed to secure solar and wind power from energy parks, with several agreements expected to come into effect in 2025.
GRESB Participation and Future Plans
The Baltic Horizon Fund continued its proactive approach by participating in the Global Real Estate Benchmark (GRESB), achieving a 3-star rating in 2024. The management team has developed a robust action plan aimed at elevating the Fund's standing to a 4-star rating by the next assessment.
This year’s comprehensive ESG report is attached and is also accessible on the Fund’s website.
Understanding the Impact of ESG Reporting
Effective ESG reporting plays a crucial role in guiding the strategic direction of real estate funds like Baltic Horizon. These reports not only inform investors but also demonstrate accountability and transparency, key components that stakeholders increasingly demand.
As Baltic Horizon Fund continues to grow, its commitment to ESG practices will likely contribute to a more sustainable and resilient investment approach, aligning with global efforts to address climate change and social responsibility.
The collaboration between investors, tenants, and local communities is pivotal. By fostering this collaborative environment, Baltic Horizon Fund aims to enhance its impact on both its portfolio and the broader community.
Contact Us for More Information
For further inquiries regarding the Baltic Horizon Fund's initiatives or the 2024 ESG report, please reach out to:
Tarmo Karotam
Baltic Horizon Fund Manager
E-mail: tarmo.karotam@nh-cap.com
Website: www.baltichorizon.com
Frequently Asked Questions
What is the purpose of Baltic Horizon Fund's ESG report?
The ESG report outlines the Fund's initiatives and performance regarding environmental, social, and governance practices, thereby maintaining transparency with stakeholders.
What improvements did Baltic Horizon Fund achieve in 2024?
In 2024, the Fund achieved a 100% portfolio BREEAM certification and reached 98% coverage of green leases.
How does Baltic Horizon Fund support renewable energy?
The Fund has integrated renewable energy by signing private power purchase agreements and utilizing renewable sources for 86% of its electricity consumption.
What is GRESB, and what rating did the Fund achieve?
GRESB is a benchmark for assessing environmental, social, and governance performance in real estate. Baltic Horizon Fund received a 3-star rating in the 2024 GRESB assessment.
Who can I contact for more information?
For additional information, you can reach Tarmo Karotam, the Fund Manager, via email at tarmo.karotam@nh-cap.com.
