Introduction to the Global Real Estate Sustainability Benchmark (GRESB)
・GRESB is the Environmental, Social, and Governance (ESG) benchmark for real assets, providing standardized and validated ESG information to the capital markets.
・In 2023, the real estate benchmark assessment covered over 2,000 real estate companies, Real Estate Investment Trusts (REITs), funds, and developers. The infrastructure coverage included more than 850 infrastructure funds and assets.
・The real estate value represented by GRESB totals $8.8 trillion. Over 150 institutional investors, with assets under management exceeding $50 trillion, use GRESB data to monitor their investments, engage with their managers, and make decisions to achieve a more sustainable real asset industry.
GRESB's Three Major Assessment Categories
・GRESB Real Estate Assessment
・GRESB Infrastructure Assessment
・GRESB Public Disclosure (with questionnaire content adjusted based on the Real Estate Assessment)
GRESB Real Estate Assessment Framework
・The Real Estate Assessment includes: Real Estate Benchmark and Development Benchmark.
・The Real Estate Benchmark consists of participants who complete the "Management" and "Performance" components, while the Development Benchmark consists of participants who complete the "Management" and "Development" components.
・The three components of the Real Estate Assessment are:
Management – Evaluates the entity's strategy and leadership, policies and processes, risk management, and stakeholder engagement approaches.
Performance – Assesses the entity's portfolio performance, based on information collected at the portfolio level. This component applies to any real estate company or fund that owns operating assets.
Development – Evaluates the entity's efforts to address ESG issues during the design, construction, and renovation of buildings. This component is applicable to entities involved in new construction (building design, siting, and/or construction) and/or major renovation projects that were ongoing or completed during the reporting year.
GRESB Public Disclosure Assessment Timeline
GRESB Public Disclosure Indicators
・The GRESB Public Disclosure includes a total of 23 indicators. These indicators cover five areas: disclosure practices, sustainability governance, implementation, performance, and stakeholder engagement.
・Each indicator corresponds to the content of the GRESB Real Estate Assessment. Therefore, if companies complete the GRESB Real Estate Assessment and adequately disclose the information, they can meet the requirements of the GRESB Public Disclosure.
