Two concrete examples: The EIPF fund and the BNP Paribas Diversipierre fund
Responsible real estate funds are intended either for individual clients – in the form of OPCI or SCPI - or for institutional clients, both types being European funds.
The EIPF fund (institutional)
Created by BNP Paribas REIM, the EIPF fund is the first European impact real estate fund that complies with the objectives of the Paris Agreement, i.e. reducing carbon emissions by 40% across its European portfolio, over 10 years.
The BNP Paribas Diversipierre (retail) fund
Since 2020, the OPCI BNP Paribas Diversipierre has received the SRI label. Each building is evaluated according to 13 categories and 94 criteria: Energy, carbon footprint, pollution, tenant comfort, etc. During the pre-acquisition audit, if the rating assigned is too low, the asset cannot be included as one of BNP Paribas Diversipierre's assets.
These two funds also illustrate BNP Paribas REIM's willingness to work on existing real estate. “75% of the buildings that will exist in 2050 have already been built. It is more important to improve existing buildings than to build new ones, and this is what we are doing with the EIPF and BNP Paribas Diversipierre funds,” explains Nehla Krir.