By Ryan Duffy, Communications Fellow
Join us for a presentation on the Global Real Estate Sustainability Benchmark (GRESB) Survey; learn what it is, how it works and where it’s going. This session will be presented by Laura Barnatt, of TA Realty, and our Existing Buildings Committee.
The Global Real Estate Sustainability Benchmark (GRESB) was created in 2009 by a team of economists and statisticians from the Netherlands. Co-founded by Nils Kok at the University of Maastricht, GRESB was developed as a way for portfolio managers to more complexly assess real estate assets to uncover greater value for owners.
GRESB is a process of assessment which enables the multi-faceted aspects of property to be tracked over time in greater detail than has ever been done before. Through the GRESB process, an asset is rated in a new way, and the management entity is evaluated in a new way, which creates useful data about the underlying asset. With this data, and with the identification of component processes, asset managers can see into real estate and how non-financial aspects affect their financial performance.
The 2015 survey data highlights global trends and attempts to explain their impact on investors, GRESB survey participants, and the green building market. The 707 Participants–whose institutional capital represents $2.3 trillion of property value–have made many great strides in sustainability since 2014. The in-depth survey focuses on 7 thematic targets. This survey impressively revealed an average improvement from GRESB participants in each category:
Management: 96% have a specific person with responsibility for implementing sustainability objectives
Disclosure & Assurance: 92% report having specific sustainability objectives
Tenant & Community Engagement: 60% now have best-practice lease clauses
Health and Well-Being: 84% increase in new construction measures to support health and well-being
Climate Risk & Resilience: -3.04% reduction in GHG emissions
Water & Waste: -1.65% decrease in water use
Energy: -2.87% reduction in energy consumption
The 2015 annual GRESB Survey includes seven aspects of sustainability spanning management policies to stakeholder engagement: