LGIM Real Assets has forged a partnership with ESG reuse marketplace Globechain which helps businesses exchange and reuse items and materials.
The collaboration with Globechain forms part of the company’s B2B digital occupier engagement platform Vizta by L&G, which in its first year of operation was used on more than 3,500 live leases by 380 businesses across almost 700 buildings.
The partnership with Globechain allows Vizta users to list items such as construction materials, office furniture, IT equipment or appliances to a Reuse Exchange database network of more than 10,000 businesses and charities.
Mark Tyson, head of property operations for LGIM Real Assets, said: “Vizta’s first year has been transformative for the way we engage with our occupiers. We are driving collaboration at scale, which is key to ensuring our portfolio is fit for the future. We now have over 380 businesses registered and anticipate this growing to over 2,000 by the end of 2024.
“For the first time, occupiers are benefitting from our wider asset management expertise, carbon reduction experience, economies of scale and investment in technology to help them deliver their individual strategies. As a result, we better serve our occupiers and the communities in which we reside, as well as build a more diversified and resilient income for our investors.”
May Al-Karooni, CEO and founder of Globechain, added: “We are excited to partner with LGIM and introduce the Reuse Exchange functionality to Vizta. Companies can reuse materials and assets, helping them reduce waste and carbon and improve their ESG data. The partnership enables LGIM and their occupiers to reach their sustainability objectives and make an impact within their local communities.”
