Financial services firm Nedbank Corporate and Investment Banking (CIB) and industry organisation the South African Real Estate Investment Trust Association (SA REIT) have formed a strategic partnership and will launch the SAREIT Sustainability Guide before the end of the year.

The SAREIT Sustainability Guide is aimed at establishing sustainability standards and best-practice benchmarks for the real estate sector in South Africa. It will be a resource for property professionals, investors and stakeholders dedicated to sustainable development, the partners say.

The guide will provide actionable strategies to enhance environmental, social and governance performance within the real estate industry, thereby aligning with global sustainability goals and reinforcing the partners' commitment to driving positive change in the property sector.

The guide will be available to SA REIT members and the broader property community.

“The SAREIT Sustainability Guide will equip our members with the tools needed to implement sustainable practices, thereby contributing to the long-term resilience and success of the real estate sector,” says SA REIT CEO Joanne Solomon.

Further, the JSE is considering revising its Sustainability and Climate Change Guidance, and the SAREIT Sustainability Guide’s release is strategically timed to incorporate any potential forthcoming changes, ensuring it remains relevant and comprehensive, she adds.

“Our collaboration with SA REIT on the SAREIT Sustainability Guide reflects Nedbank CIB's ongoing dedication to advancing sustainability across all sectors, particularly in real estate,” says Nedbank CIB property finance divisional executive Genevieve Naidoo.

“By leveraging our expertise in sustainable finance, we aim to drive the adoption of responsible practices within the real estate industry, fostering long-term growth and resilience.”

Through this partnership, Nedbank CIB aims to further extend its impact, ensuring that sustainability becomes a core principle within the real estate sector, she adds.