Preqin, a provider of alternative assets data, tools and insights, and Measurabl, the ESG technology for real estate, are partnering to set a new standard for transparency and accountability in private real estate investment, seen through a sustainability lens. This joint venture will provide carbon emission estimates, energy usage estimates and green building certificates for almost 100,000 privately held properties listed on Preqin’s platform.
“Real estate is the world’s largest asset class and also one of the most environmentally impactful, accounting for nearly 40% of global emissions, making an accurate understanding of climate impacts and risks critical,” said Matt Ellis, CEO at Measurabl. “But the daily changes in actual building performance and the nuances of tenant and landlord operations make carbon emissions calculations, among other key metrics, uncertain. This new partnership brings unparalleled transparency to real estate sustainability, leveraging Measurabl’s timeliness, granularity and auditability of data, along with a consistent and comparable machine learning approach, to deliver accurate insights previously unavailable anywhere else.”
Preqin and Measurabl’s partnership aims to address the lack of clarity around environmental, social and governance (ESG) factors in private markets that have been historically opaque, the firms said. Self-reported disclosures, lagged by a year or more and marred by inconsistent methodologies, often yield data that is incomparable across assets, funds and managers for sustainability performance. The challenges of collecting asset-level data that is both auditable and trustworthy have generated a scarcity of credible ESG metrics for any financial professional who invests in, allocates to, or advises on alternatives.
“Both firms share a common vision to enhance and deepen the quality of data that our clients and the wider industry need to truly ensure performance is consistently and accurately being measured,” said Jaclyn Bouchard, executive vice president, head of ESG solutions and corporate responsibility at Preqin. “We look forward to working closely with our partner, as we break boundaries and move towards making the realm of ESG in private markets more transparent and better for industry participants who seek enhanced returns and balanced portfolios.”
