Covenant Capital Group Signs the United Nations Principles for Responsible Investment
NASHVILLE, Tenn.--(BUSINESS WIRE)--Sep 26, 2018--Covenant Capital Group, LLC, a Nashville-based real estate investment manager that excels at revitalizing and extending the life span of strategically important apartment communities in high-growth southeastern and mid-Atlantic markets, today announces it has signed the United Nations-supported Principles for Responsible Investment (PRI).
The PRI initiative is recognized as the leading global network for investors and financial industry participants who are committed to integrating environmental, social and governance (ESG) considerations into their investment practices and ownership policies.
“Covenant Capital Group has since its inception sought to make a lasting environmental, social and governance (ESG) contributions to the communities in which we live and work,” said Govan D. White, managing principal and co-founder of Covenant Capital Group. “We’re proud to sign the United Nations-supported Principles for Responsible Investment to further formalize and deepen our commitment to incorporate ESG factors into our investment decisions and management procedures.”
Covenant is the first investor signatory from the state of Tennessee, added White, “It is an honor to lead in our home state of Tennessee as the first investor-headquartered here to sign the PRI.”
Covenant has been driven by its own ESG policy in its work to revitalize aging apartments that are operating inefficiently, by positioning them for a long-term energy efficient future that benefits residents, neighbors and communities. For example, earlier this year Covenant Capital Group announced its water savings at its properties have reached approximately 15%, which equates to over 30 million gallons of water saved, per year.
In the last decade, Covenant has invested nearly $300 million in renovations that extend the life of apartment properties, improving communities and increasing environmental efficiencies in the process.
In joining the PRI’s network of international signatories, Covenant will now also work with peers to implement a set of voluntary and aspirational principles that provide a framework for integrating ESG factors into investment analysis and ownership practices. These factors are aligned with investors’ goals and values and tailored to each organization’s investment strategy, approach and resources. Key principles include pledging to incorporate ESG issues into investment analysis and decision-making processes as well as to be active owners and incorporate ESG issues into our ownership policies and practices.
Ultimately, these principles will serve to aid Covenant in revitalizing apartment properties into premier, institutional quality assets while sustaining and improving valuable housing inventory in high-growth areas to positively impact communities.
For more information visit: http://www.covenantcapgroup.com/
View source version on businesswire.com:https://www.businesswire.com/news/home/20180926005121/en/
CONTACT: for Covenant Capital Group, LLC
Justin Wilson, 615-918-9072
KEYWORD: UNITED STATES NORTH AMERICA TENNESSEE
INDUSTRY KEYWORD: BUILDING SYSTEMS REIT URBAN PLANNING ENVIRONMENT CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Covenant Capital Group, LLC
Copyright Business Wire 2018.
PUB: 09/26/2018 08:39 AM/DISC: 09/26/2018 08:39 AM