Measurabl, the ESG (environmental, social, governance) platform for real estate, has secured a significant partnership to provide sustainability due diligence on all commercial real estate loans issued by Voya Investment Management (Voya IM).
This is a notable milestone for Measurabl’s new due diligence offering, as it demonstrates its ability to support debt issuers as well as equity investors, the company said. Measurabl’s new data product line provides organizations with energy use intensity and carbon estimates, green building certification look-ups and regulatory ordinances on any building in worldwide. These features will enable Voya IM to better understand the ESG implications of its current, previous and future lending activity.
“We are excited to announce such a significant win for Measurabl, marking another milestone in an extremely promising year for sustainability-focused businesses,” said Matt Ellis, Measurabl co-founder and CEO. “Our partnership with Voya Investment Management signifies the start of a new era of sustainability reporting and the founding of a new market. As regulations tighten across the board, organizations are under pressure to disclose the ESG implications of their lending activities. Measurabl is the only software company in the world that offers asset level insights, meaning we have the capabilities to provide accurate sustainability data on current, previous and future investments.”
Measurabl’s software rapidly generates sustainability due diligence reports. Previously, obtaining energy and emissions data in due diligence assessments could take up to two weeks per property. By collaborating with Measurabl, Voya can now obtain these reports almost instantaneously.
“We look forward to working with Measurabl and incorporating their advanced sustainability due diligence into our operations to the benefit of our clients,” said Gregory Michaud, head of real estate finance at Voya Investment Management. “Their platform will enhance our underwriting process and bolster our impact investing initiatives”
With Measurabl’s cutting-edge technology, Voya IM can incorporate ESG metrics into its underwriting activities by using Climate Due Diligence Scans. The collaboration enables Voya to measure property emissions. Moreover, by retroactively rating all loans issued in the previous decade, Voya can gain valuable insights into the sustainability performance of its past investments, paving the way for improved decisions going forward.
