For an additional fee, GRESB also offers an optional Response Check following submission, which involves a detailed review of responses and a one-hour call from the validation team to discuss any queries or concerns. Guidelines are available that explain the intent of each indicator, the response requirements, scoring information and explanations of terminology used. All asset-level data submitted is confidential, and will only be used to validate the wider portfolio report. Indicator topics include data and social infrastructure, transport, environmental services, network utilities and the generation of renewable power. In the surveys, participants are asked to report on energy, GHG, waste, water and building certification at asset level. The performance component measures the entity’s ESG performance from asset-level data, and the development component is concerned with the design, construction and renovation of buildings, and the operator’s efforts to address ESG concerns during these processes. The management component looks at leadership and strategy, policies, risk management and stakeholder engagement. The evaluation is based on a set of ESG indicators across management, performance and development components. They are aligned with internationally-recognized sustainability reporting standards, such as the UN Principles for Responsible Investment (PRI), the Global Reporting Initiative (GRI) and the Paris Climate Agreement. Both assessments address the main aspects of ESG performance in real estate, as considered by investors. These are designed to be completed by infrastructure funds and portfolio companies respectively. There are 2 complementary GRESB assessments: a fund assessment and an asset assessment. GRESB then uses this to create their industry benchmarks, which are externally published and widely circulated. Through these surveys, they gather data on building management, performance, climate risk and stakeholder engagement, and validate this data through a multi-stage process. GRESB releases surveys to real estate operators every year. It’s therefore in your best interest to become familiar with GRESB rankings and assessments. If you’re a real estate company or infrastructure operator, GRESB scoring offers you a chance to showcase the quality of your assets. Increasingly, investors in commercial real estate are looking for ESG data to assess new investments. The asset value covered by GRESB in 2021 was more than USD 5.3 trillion. In 2021, more than 1,200 property companies, real estate investment trusts (REITs) and funds participated in the real estate benchmark, with over 120 investors using GRESB data to stay informed on their investments and make decisions relating to the ESG performance of their portfolio. To reflect their new, wider interests, GRESB adopted the word as their name, and no longer use it as an acronym. When the organization launched in 2009, GRESB was an acronym for “Global Real Estate Sustainability Benchmark.” However, in 2015 the organization expanded their interests beyond sustainable real estate, into the ESG performance of infrastructure including roads, railways, electricity distribution and communication systems.
Investors use GRESB’s industry benchmarks and analytical tools to assess the ESG performance of their portfolios, engage with property managers and meet increasingly demanding ESG reporting obligations. In return, they receive detailed business intelligence of their comparative performance against their peers, as well as suggested actions they can take to improve their sustainability performance and better communicate on the subject with investors. Participants in GRESB assessments submit asset-level data relating to ESG indicators. GRESB is an organization that produces internationally-recognized benchmarks to track environmental, social and governance (ESG) performance of commercial real estate and infrastructure. As someone with an interest in sustainable real estate and infrastructure, you may have come across the term “GRESB” and be wondering-exactly what is GRESB? In this article, we’ll explain the key things you need to know about GRESB, and why their reporting is an important tool in working toward a sustainable future for real estate.
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