Media release

Zug, 17 October 2024

Varia US Properties achieves best GRESB rating yet in 2024 with 87 points and 4 stars, and sets ambitious ESG goals for 2033

In 2024, Varia US was evaluated for the third time by the influential Global Real Estate Sustainability Benchmark (GRESB). This annual assessment is guided by what investors and the real estate industry consider to be material issues in the sustainability performance of asset investments; the data is used by capital providers and asset managers worldwide to benchmark investments across portfolios.

The 2024 assessment result shows again a very strong performance of Varia US in terms of Environmental, Social and Governance dimensions:

With the benchmark score of 87/100 and again a 4-star rating, the Company achieved its strongest GRESB result so far (2023: 83/100, 2022: 64/100).
For the second time in a row, Varia US outperformed the peer average (2024: 81/100, 2023: 79/100).
In comparison with its peer group, Varia US ranked 3rd out of 11 in the “US Listed Multifamily” category in 2024, improving from 4th in 2023 and 8th in 2022.
Varia US has made notable year-on-year progress in key areas, including risk assessment and asset-level data for greenhouse gas emissions, water consumption and waste production and diversion. Improved like-for-like landlord-controlled energy performance by 4.5%, reduced Scope 1 & 2 GHG emissions by 4%, and achieved ENERGY STAR Performance Certification for 60% of the portfolio, significantly outperforming benchmarks and demonstrating the company’s leadership in energy efficiency and sustainability.

In line with the ESG strategy, the ESG Committee of the Board of Directors of Varia US also approved the following portfolio ESG improvement targets:

Energy consumption: 20% reduction (intensity-based) by 2033, with 2023 as baseline year
GHG emissions: 50% reduction (intensity-based) by 2033, from the 2023 baseline
Water consumption: 20% reduction (intensity-based) by 2033, using 2023 as baseline

Furthermore, Varia US is committed to achieving net zero emissions in line with the Science Based Target Initiative. Our goal encompasses Scope 1 and 2 (location-based) and Scope 3 (operational emissions), with the objective of reaching net zero by 2050.

Thomas Stanchak, Director of Sustainability at Stoneweg US, the Company’s asset manager, comments: “We are proud to have achieved our best GRESB performance so far with a score of 87/100 and moved up to 3rd place in our peer group. Our ongoing efforts in renewable energy, resource efficiency, and emissions reduction are beginning to drive real progress and are reflected in our ambitious portfolio ESG improvement targets for 2033. Looking ahead, we remain focused on achieving goals in a manner that creates value for both our residents and investors, as well as strengthening our leadership in sustainable real estate investment.”

The “GRESB Real Estate Benchmark Report 2024” as well as further information about the ESG strategy and initiatives of Varia US are available on the Company’s website at www.variausproperties.com/esg-vision-strategy/ More insights about GRESB can be found on www.gresb.com .

Key dates
Q3 2024 Update 28 November 2024
Annual Report 2024 31 March 2025
Ordinary General Meeting 2025 30 April 2025

Contact information
Juerg Staehelin, IRF, Phone: +41 43 244 81 51, E-mail: investors@variausproperties.com

About Varia US Properties:

Varia US Properties AG is a Swiss based real estate company exclusively investing in U.S. multifamily housing with a main focus on secondary and tertiary markets. Established in 2015, the Company acquires, holds, transitions and repositions properties in the boundaries of metropolitan regions of the U.S. in order to secure rental income and value growth. More information: www.variausproperties.com

Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning Varia US Properties AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Varia US Properties AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Varia US Properties AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.