GRESB 2014 Survey Webinar, April 15, 2014 Elsbeth Quispel, Head of Sustainability
Jan 22, 2015
GRESB 2014 Survey Webinar, April 15, 2014
Elsbeth Quispel, Head of Sustainability
Webinar Topics ! About GRESB
! 2014 Planning
! About the 2014 Survey
! Reporting Scope and Boundaries
! Scoring and Methodology
! 2014 Data Validation Process
! GRESB Portal – Survey submission management
! GRESB Portal – Survey and question structure
! Innovation question
! Support
! Disclosure of GRESB results
About GRESB
! GRESB complements asset-level certification schemes by focusing on property companies and funds
! The standard is actively used by institutional investors, managing USD 6.1 trillion in assets, with a clear goal to optimize the risk/return profile of their investments
! In 2013, 550 property companies and funds participated in the annual GRESB Survey, managing USD 1.6 trillion in value
! The GRESB database currently covers 49,000 assets in 46 countries
The global standard to assess the sustainability performance of real estate portfolios
2014 Planning GRESB Survey timeline 2014
! April 1: Survey opened ! Guidance documents and helpdesk available ! Response Check upon completion of all sections ! Confirm data accuracy before submission
! May 15: Validation process starts
! July 1: Survey closes (fixed deadline)
! September 4: Survey results and Results events
! October 1: Consultation Period starts
About the 2014 Survey Survey forms basis for GRESB Benchmark
! GRESB collects information regarding sustainability performance of property companies and funds
! Online Survey: 42 questions (+ 14 questions on New Construction & Major renovation activities)
! Topics include: sustainability risk assessments, improvement programs, performance indicators, and stakeholder engagement
! Survey is aligned with GRI (CRESS), DJSI and PRI frameworks ! Survey builds on framework of previous Surveys, but has been updated
and refined based on feedback 2013 Consultation Period
Reporting Scope and Boundaries Includes whole portfolio, independent of lease structure ! Whole portfolio reporting, including both managed and indirectly
managed assets ! Managed versus indirectly managed assets:
! Definition is based on lease structure, but in both cases assets should be included
! Separate sections in Performance Indicators tables ! GRESB intents to create peer group(s) comprising of Indirectly
Managed Assets ! Joint ventures: all involved parties with a stake larger or equal to
25%, should report on the whole asset or all applicable assets ! If stake is smaller than 25%, reporting is optional
Scoring and Methodology Transparency in scoring includes: score per question, importance of answers
! The Guidance document states the maximum score awarded per question and the importance of each Aspect
! Points are awarded cumulatively for each individual answer within a question and Guidance document states importance of each answer
! New Construction & Major Renovations (NC & MR): ! 1. NC & MR only: score is based on
this Aspect, as well as on selected questions from the other Aspects
! 2. Also standing investments: score is stand-alone and does not count towards total GRESB Score
Scoring and Methodology Transparency in scoring includes: score per question, importance of answers
! The Guidance document states the maximum score awarded per question and the importance of each Aspect
! Points are awarded cumulatively for each individual answer within a question and Guidance document states importance of each answer
! New Construction & Major Renovations (NC & MR): ! 1. NC & MR only: score is based on
this Aspect, as well as on selected questions from the other Aspects
! 2. Also standing investments: score is stand-alone and does not count towards total GRESB Score
2014 Data Validation Process Three-layer validation process helps to ensure accurate data ! Extended validation process to be introduced in phases over a two-year
period (2014-2016) ! What data does GRESB validate?
! Key topics ! Third-party review topics ! Umbrella topics
! GRESB checks selected key data points including: ! Content quality of answers to open text boxes ! Additional information provided (open fields) ! Uploads ! Automated outlier and consistency checks of performance data
! Whose data does GRESB validate? ! All Participants Checks (100%) ! Validation Plus (10-15%) ! Site Visits (1-2%)
GRESB PORTAL Survey submission management
GRESB PORTAL Survey and question structure
GRESB SURVEY Other
GRESB Support Send us an email with technical or content questions ! Helpdesk: [email protected] ! Support via Associate Members
! Response check: high-level check prior to submission. Fee for non-members is 500 euro (exclusive of VAT). Deadline June 15
! GRESB results: September 04, 2014
Disclosure of GRESB results Scorecard o Highlights the key
results of a company or fund’s sustainability performance
Benchmark Report o Deeper analysis of a
company or fund’s sustainability performance
Member Portal o Exclusively for GRESB
Members: ability to construct tailored Portfolio Analysis Reports