This is the second in a series on market forces influencing sustainability practices in commercial real estate. The first article in this series is: Measuring Real Estate Capital Investment by Green ‘REITS and Bonds’
The Global Real Estate Sustainability Benchmark (GRESB) recognized a number of U.S. REITs for their exceptional sustainability practices: “GRESB 2014 Survey Shows Improvement in Sustainability in Real Estate Industry”
Background of the Survey
In cooperation with a large group of institutional investors, GRESB collects information regarding the sustainability performance of property companies and funds. This includes information on performance indicators, such as energy, GHG emissions, water and waste. In addition, the Survey also covers broader sustainability issues, such as sustainability risk assessments, performance improvement programs, and engagement with employees, tenants, suppliers and the community. The GRESB Survey is aligned with international reporting frameworks such as the Global Reporting Initiative (GRI), the Principles for Responsible Investment (PRI) and the Dow Jones Sustainability Index (DJSI). The annual Survey builds on the framework of previous Surveys, but is updated and refined based on feedback received during GRESB's annual consultation period.
Why Corporations Participate
Benchmarking the sustainability performance of an organization helps to generate and strengthen the market forces needed to bring environmental, social and governance (ESG) issues to the forefront of business. By participating in the annual benchmark, businesses will be able to better manage their portfolios in the face of higher and more volatile energy prices, stricter legislation to combat climate change, increased energy efficiency requirements and changing preferences of corporate tenants.
About the Author
Jan Sachs is Chair of the Existing Buildings Committee of the San Diego Green Building Council and a LEED AP, O+M. She works for Coldwell Banker Commercial.
Connect with Jan on LinkedIn