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Pre-Release of the 2016 GRESB Real Estate Assessment

The pre-release of the 2016 GRESB Real Estate Assessment is now available on the GRESB website to help property companies and funds prepare for the 2016 assessment process. The 2016 Assessment is largely consistent with the 2015 Survey. New developments reflect industry trends in ESG in real estate and the results of in-house research, as well as engagement with the real estate industry through the GRESB Advisory Board, Benchmark Committees, and Industry Working Groups. 

2016 Development Highlights 

  • A streamlined and improved reporting process, fewer indicators and improved data quality (refined precision in indicators, supporting guidance, and better tools).
  • The number of changes has been limited to a maximum of 20% churn.
  • “Pilot” indicators are for reporting purposes only, prior to formally including these indicators in the 2017 Assessment.
  • The GRESB Portal includes additional and enhanced functionalities to support participants with an efficient and accurate submission.

2016 GRESB Timeline

  • March 1, 2016 – 2016 GRESB Real Estate Guidance available
  • March 1, 2016 – 2016 GRESB Developer Assessment available (including the NC&MR Aspect)
  • April 1, 2016 – GRESB Portal opens
  • June 15, 2016 – Response Check request deadline
  • June 15 – July 31, 2016 – Validation process (we may need to contact you during this time to clarify any outstanding issues with your response)
  • July 1, 2016 – Assessment closes (this is a firm deadline, and GRESB will not accept submissions received after this date)
  • September 7, 2016 – Release of 2016 assessment data and GRESB Report.

New in 2016 - GRESB Health Module and Health-focused Industry Working Group

Health and wellbeing are rapidly emerging as important topics for the real estate industry. At the asset level, the market recognizes the value of health as demonstrated by the interest generated by the WELL Building Standard. At the portfolio level, real estate investors have unique opportunities to scale value creation beyond building certifications. However, investors, property companies and fund managers currently lack adequate health-focused indicators and benchmarking tools at the portfolio level. 

Recognizing health as an emerging source of opportunity and risk, and to better inform investors, GRESB is working together with its stakeholders to develop a supplemental module specific to health and wellbeing. The GRESB Health Module will be released alongside the GRESB Real Estate Assessment on April 1, 2016.

To inform the development of the GRESB Health Module, GRESB is convening a Health Industry Working Group (IWG) and invites GRESB members to actively participate. Members of the Health IWG will be able to provide written and verbal feedback on pre-release versions of the GRESB Health Module. GRESB will hold two sets of the Health IWG calls, scheduled for:

  • January 21, 2016

     13 – 14 SGT/ 16 – 17 AEDT

     16 – 17 CET/10 – 11 am EST

  • February 4, 2016

     13 – 14 SGT/ 16 – 17 AEDT

     16 – 17 CET/10 – 11 am EST

GRESB Members interested in joining the Health Industry Working Group should contact GRESB via info@gresb.com.

2016 GRESB Training Program

GRESB has announced the 2016 GRESB Participant Training Program, including locations, dates and fees.

The Participant Training Program is offered from mid-March to mid-April, aimed at property companies, fund managers, and other professionals involved in sustainability management. The training provides detailed information and instruction on the GRESB Real Estate Assessment scope, process and methodology, including practical insights regarding the submission and the assessment results, such as the GRESB Scorecard.

The program is delivered via face-to-face group sessions (7 core instruction hours in one session), in select locations across all regions with GRESB participation, including Europe, North America and Asia Pacific. In-house training is available upon request.

New in 2016

  • More case studies and examples from practice
  • More extensive Q&A sessions to address portfolio-specific questions
  • More networking and engagement opportunities on specific topics with industry professionals with demonstrated experience and success rate
  • New information about emerging topics, including resilience, health and wellbeing, and data management
  • Access to webcasts describing the GRESB process, aspects, and specific thematic results – these can be reviewed to prepare for the training.

Registration will open in January 2016 via the GRESB website.

The 2016 GRESB Investor and Analyst Training Program will be announced in early 2016.

New Members

Stockland is the largest diversified property company in Australia. It owns, manages and develops a growing portfolio of shopping centers, logistics hubs, business parks, residential communities, retirement living villages, and office assets. Stockland’s sustainability strategy is based on the belief that it has both the opportunity and the responsibility to create the right balance of social, environmental and economic conditions for its communities, customers and investors.

Avison Young is a commercial real estate services firm headquartered in Toronto, Canada. The company comprises 2,100 real estate professionals in 74 offices, providing investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties. Global Citizenship is the umbrella name of Avison Young’s corporate social responsibility, sustainability and philanthropy strategy. Its goal is to help clients identify and act upon emerging environmental and social issues.

AvalonBay Communities, Inc. is a publicly traded REIT headquartered in Arlington, VA in the US. The company develops, redevelops, acquires and manages more than 170 apartment communities in United States markets that are defined as high barrier-to-entry. AvalonBay Communities Inc. has offices in San Jose, San Francisco, Boston, Chicago, Newport Beach, New York, Virginia Beach and Seattle. Their approach to sustainability is to integrate sustainability initiatives with their design, development, construction and operations processes. Avalon Bay’s 2020 environmental goals, established with a 2013 baseline, are to reduce their like-for-like energy and water use intensity by 15%.

GRESB Insights

Incorporating ESG Factors into REIT Investing by Rogier Quirijns (Cohen and Steers) 

Happy Holidays!

Best wishes, joyful holidays, and a happy, healthy and productive 2016 from the GRESB team!