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2018

Real Estate

Reference Guide

Contents

Disclaimer: 2018 GRESB Real Estate Assessment Reference Guide

The 2018 GRESB Real Estate Assessment Reference Guide (“Reference Guide”) accompanies the 2018 GRESB Real Estate Assessment and is published both as a standalone document and in the GRESB Portal alongside each Assessment indicator. The Reference Guide reflects the opinions of GRESB and not of our members. The information in the Reference Guide has been provided in good faith and is provided on an “as is” basis. We take reasonable care to check the accuracy and completeness of the Reference Guide prior to its publication. While we do not anticipate major changes, we reserve the right to make modifications to the Reference Guide. We will publicly announce any such modifications.

The Reference Guide is not provided as the basis for any professional advice or for transactional use. GRESB and its advisors, consultants and sub-contractors shall not be responsible or liable for any advice given to third parties, any investment decisions or trading or any other actions taken by you or by third parties based on information contained in the Reference Guide.

Except where stated otherwise, GRESB is the exclusive owner of all intellectual property rights in all the information contained in the Reference Guide.

About GRESB

GRESB is the global environmental, social and governance (ESG) benchmark for real assets. Working in collaboration with the industry, GRESB defines the standard for sustainability performance in real assets, providing standardized and validated ESG data to more than 75 institutional investors, representing over USD 18 trillion in institutional capital. In 2018 a record of 903 property companies and funds participated in the GRESB Real Estate Assessment, the Infrastructure Assessment covered 75 funds and 280 assets, and 25 portfolios completed the Debt Assessment.

For more information, visit gresb.com. Follow @GRESB on Twitter.

Overview of GRESB Assessments

GRESB Real Estate Assessment

The GRESB Real Estate Assessment is the global standard for ESG benchmarking and reporting for listed property companies, private property funds, developers and investors that invest directly in real estate. The Assessment evaluates performance against seven sustainability aspects, including information on performance indicators, such as energy, GHG emissions, water and waste. The methodology is consistent across different regions, investment vehicles and property types and aligns with international reporting frameworks, such as GRI and PRI.

The GRESB Real Estate Assessment provides investors with actionable information and tools to monitor and manage the ESG risks and opportunities of their investments, and to prepare for increasingly rigorous ESG obligations. Assessment participants receive comparative business intelligence on where they stand against their peers, a roadmap with the actions they can take to improve their ESG performance and a communication platform to engage with investors.

GRESB Developer Assessment

Besides the GRESB Real Estate Assessment for property companies and fund managers that focus on the management of standing investments, GRESB provides a stand-alone GRESB Developer Assessment for organizations that focus on real estate development activities. The Developer Assessment evaluates the ESG performance of these organizations, focusing on policies, strategies, and measurable actions related to new construction and major renovation projects.

The following organizations should fill out the GRESB Developer Assessment:

The GRESB Developer Assessment contains a subset of indicators from the GRESB Real Estate Assessment, plus the 14 indicators in the New Construction & Major Renovations (NC&MR) Aspect.

GRESB Public Disclosure

GRESB Public Disclosure evaluates the level of ESG disclosure by listed property companies and REITs. The evaluation is based on a set of indicators aligned with the GRESB Real Estate Assessment, allowing for a comparison of ESG disclosure performance between GRESB participants and non-participants. It also provides investors with a resource hub to access ESG disclosure documents across their full investment portfolio.

GRESB Public Disclosure data is initially collected by the GRESB team for selected companies, including both 2018 GRESB Real Estate Assessment participants and non-participants.All constituents have the opportunity to review and update this data before it becomes accessible to GRESB Investor Members. GRESB Public Disclosure consists of four Aspects: Governance of Sustainability, Implementation, Operational Performance and Stakeholder Engagement. Together, these Aspects contribute towards a Public Disclosure Level, expressed through an A to E sliding scale.

(Real Estate and Infrastructure) Supplement: Resilience

The GRESB Resilience Module is an optional supplement to the GRESB Real Estate and Infrastructure Assessments. It has been developed in response to organizations that are developing a capacity to assess, manage and adapt in the face of social and environmental shocks and stressors. The Module is motivated by two key factors:

(Real Estate) Supplement: Health & Well-being

The GRESB Health & Well-being Module is an optional supplement to the GRESB Real Estate Assessments. The Module provides participating companies and funds with practical tools for assessing and benchmarking the actions they are taking to promote health and well-being.

The purpose of the Module is to understand how the entity is promoting the health & well-being among its stakeholders, such as employees, tenants and community members. Indicators in the Module are not intended to address individuals, and information identifying individuals is not requested for any Health & Well-being Module indicator.

(Real Estate) Supplement: NAREIT Leader in the Light

The National Association of Real Estate Investment Trusts (NAREIT) is a GRESB Industry Partner and we work in close collaboration. NAREIT encourages its corporate members to complete the annual GRESB Real Estate Assessments, which, for the past six years, has been the basis for their annual Leader in the Light Award competition.

The Leader in the Light Awards are presented to REITs in eight property sectors: Diversified, Global (for non-U.S. companies), Health Care, Industrial, Lodging/Resorts, Office, Residential and Retail. If there are both large and smallcap entries that meet the awards criteria in a given property sector, awards are presented to both the leading large and small cap companies.

To participate in the Leader in the Light Award program, NAREIT members must complete both the GRESB Real Estate Assessment and the Leader in the Light Supplement. Once all sections of the GRESB Real Estate Assessment are completed, including the Leader in the Light Supplement, participants are able to submit their entire submission which will automatically be included in the Leader in the Light Award competition.

GRESB Infrastructure Assessment

The GRESB Infrastructure Assessment is an ESG engagement and benchmarking tool for institutional investors, fund managers and asset operators working in the infrastructure space.

The GRESB Infrastructure Assessment consists of two complementary components, a Fund Assessment and an Asset Assessment. Both components address critical aspects of ESG performance through a standardized, globally applicable, reporting and benchmarking framework. The GRESB Infrastructure Assessment focuses on operating investments, infrastructure assets, companies and funds, and covers the full breadth of infrastructure sectors, including:

The GRESB Infrastructure Assessment provides investors with actionable information and tools to monitor and manage the ESG risks and opportunities of their investments, and to prepare for increasingly rigorous ESG obligations. GRESB Infrastructure Assessment participants receive comparative business intelligence on where they stand against their peers, a roadmap with the actions they can take to improve their ESG performance and a communication platform to engage with investors.

GRESB Real Estate Assessment Introduction

The role of the GRESB benchmark

GRESB’s global benchmark uses a consistent methodology to compare performance across different regions, investment vehicles and property types. This consistency, combined with our broad market coverage, means our members and participants can apply a single, globally recognized ESG framework to all their real estate investments.

The GRESB Real Estate Assessment is structured around seven Aspects and contains approximately 50 indicators. The indicators follow a plan-do-check-act logic and are designed to encompass the wide variety of property companies and funds included in the benchmark.

While GRESB provides an overall GRESB Score for each participant, it recognizes that this is only a single element within a range of results reported in the benchmark. The key to analyzing GRESB data is in peer group comparisons that take into account country, regional, sectoral and investment type variations.

GRESB is committed to facilitating the inclusion of its ESG metrics in investment decision-making processes and encouraging an active dialogue between investors, fund managers and companies on ESG issues. GRESB updates its Investor Engagement Guide on an annual basis to assist GRESB Investor Members in their engagement with managers.

2018 Participation Fee

Participants can choose to submit the Assessment as a non-member and pay a nominal participation fee or submit the Assessment as a GRESB Member. Participation is free of charge for first-time participants who report under the Grace Period, and for companies and funds headquartered in non-OECD countries. GRESB Members, in addition to the benefits received by participants, have access to more advanced analytical tools and services as well as preferential marketing, industry recognition, and networking opportunities.

Additional information about the 2018 participation fee is available here.

Timeline and Process

The GRESB Real Estate Assessment opens in the Assessment Portal on April 1, 2018. The submission deadline is July 1, 2018, providing participants with a three-month window to complete the Assessment. This is a fixed deadline, and GRESB will not accept submissions received after this date.

The GRESB validation process starts on June 15 and continues until July 31, 2018. We may need to contact you during this time to clarify any issues with your response.

Results are published in September and are distributed as follows:

For an overview of key dates and activities for the 2018 Assessment cycle, please see the Assessment timeline here.

Response Check

A Response Check is a high-level check of the Assessment response prior to final submission. It helps to reduce errors that may adversely impact the Assessment results and ensures the submission is as complete as possible.

The Response Check is available for request from April 1 to June 8, 2018 subject to available resources. We strongly encourage participants to place their request as early as possible.

Fund Manager and Company Members are able to request a complimentary Response Check for one entity as one of their membership benefits.

Guidance & Support

The Assessment Portal is accompanied by indicator-specific guidance, available under the “Guidance” tab that explains:

The guidance of each indicator in the Portal is also provided in this Reference Guide, accompanied by general introductory information to the Assessments.

The GRESB Assessment Portal has the following tools and functionality to help ensure an efficient and accurate submission:

GRESB works with a select group of Partners who can help participants with their Assessment submission. To learn more about the services offered by GRESB Partners, please refer to our Partner Directory.

Participants are able to contact the GRESB Helpdesk at any time for support and guidance.

GRESB Assessment Training Program

GRESB Real Estate Assessment Training is designed to educate participants, potential participants and other GRESB stakeholders (managers, consultants, data partners) on ESG management and reporting through the GRESB Real Estate Assessment.

The training is divided into two sessions – Introductory and Advanced – to reflect the level of experience with GRESB:

Both programs are delivered via face-to-face group sessions, in select locations across all regions with GRESB participation, including Europe, North America and Asia Pacific. See dates and locations for GRESB Assessment Training.

Starting in October 2018, GRESB will run Data Insights Training sessions focussing on the interpretation of the Assessment results and the reporting and benchmarking tools available in the online Portfolio Analysis.

About the 2018 GRESB Real Estate Reference Guide

This Guide accompanies the 2018 GRESB Real Estate Assessment (referred to as “the Assessment”). Guidance is included for all Assessment indicators that comprise GRESB Real Estate’s seven sustainability aspects, plus the Assessment indicators addressing New Construction & Major Renovations. This Guide provides:

This Guide should provide all the basic information needed to complete the 2018 Assessment. If you need additional help, please contact our helpdesk team at info@gresb.com.

Who can see my data?

Data is submitted to GRESB through a secure online platform and can only be seen by current GRESB Staff or authorized personnel from GRESB’s parent company, i.e., GBCI, Inc. (“GBCI”). GRESB benchmark scores are not made public. Data collected through the GRESB Real Estate Assessment is only disclosed to the participants themselves and:

No other third parties will see the data.

Documentation provided as evidence can be made available to GRESB Real Estate Investor Members on a document by document basis. Each uploaded document has a checkbox (the default being set to ‘not available’) which, when selected by the participant, makes this evidence available to all investors with access to that entity. It is not possible to choose a sub-set of investors which you would like to share the documents with.

GRESB has developed a number of tools to assist participants with the collection and aggregation of asset-level data that is required to complete certain aspects of the Assessment. Property companies and funds are encouraged to use the asset-level tools to streamline data flows, and to increase data quality. The asset-level data provided to GRESB is strictly confidential and will only be used for aggregation to portfolio level. No asset-level information will be disclosed to participants’ investors.

As a default, GRESB does not disclose a participant’s data to other participants. For listed entities, the entity name is disclosed in the Benchmark Report, as well as the entity names of listed peer group constituents. For non-listed entities, only the fund manager’s name is disclosed, as well as the fund manager’s name of private peer group constituents. GRESB provides an opt-in option that will disclose the entity’s name (listed entity) or fund manager’s name (non-listed entity), as well as the scores for the two dimensions (Management & Policy and Implementation & Measurement), to participants in the peer group that also opted to disclose their name and dimension scores.

Grace Period

GRESB offers participants reporting for the first time the option to not disclose their first year Assessment results to their investors. This "Grace Period" allows companies and funds a year to familiarize themselves with the GRESB reporting and assessment process without externally disclosing their results to GRESB Investor Members.

While Grace Period participant names are disclosed to GRESB Investor Members, Investor Members are not able to request access to Grace Period participant results.

The participation fee is waived for Grace Period participants reporting to GRESB for the first time. Participants will receive a GRESB Scorecard and have the opportunity to purchase a Benchmark Report for a more in-depth analysis of sustainability performance and a detailed indicator-level comparison with peers.

First-time participants wishing to opt for the Grace Period can select the option from the settings section in the Assessment Portal.

Participant tools

The following tools help participants with the submission process:

In 2018, you can use the online GRESB asset portal or any data partner system to upload asset-level data for the following indicators

GRESB Assessment and Reference Guide Structure

Allocation to E, S, G

GRESB has allocated each indicator to one of the three sustainability dimensions (E- environmental; S- social; G- governance):

Assessment indicator structure

Every indicator in the 2018 Assessment can be answered with ‘Yes’ or ‘No’ and in some cases with ‘Not applicable’. If ‘Yes’ is selected, the participant has the option to further classify the response by selecting one or more sub-options.Participants should select all sub-options that accurately describe the entity and for which the entity can provide evidence. If ‘No’ or ‘Not applicable’ is selected, the participant may not select any additional sub-options. “A Not Applicable” answer is interpreted and scored in the same way as a “No” and will yield 0 points. GRESB has marked each indicator to reflect whether it has been amended or is new, by providing the 2017 indicator naming on the right side of each indicator.

Evidence

Selected indicators in the Assessment require the provision of supporting evidence. Evidence is information that can be used to validate the overall answer to the indicator and support any additionally selected criteria. GRESB does not have a prescriptive standard for evidence, rather the expectation is that a validator with reasonable domain expertise can review the evidence and find support for the overall indicator response and selected answer options. This means that the uploaded evidence should clearly reference the answer options selected by the participant. The evidence should not require extensive interpretation or inference, and participants are strongly encouraged to provide the clearest and most concise evidence that supports their claim.

It is the responsibility of the reporting entity to provide clear and concise information that can be easily found and understood by the validator. The validator will reject claimed answers or selected answer options not supported by clear evidence.

Hyperlink

If a hyperlink (or deep link) is provided, ensure that the relevant page can be accessed within two steps. Ideally, the landing page should contain all the information needed to validate the answer. In order to qualify as valid supporting evidence, the evidence provided must demonstrate the existence of the relevant topic relating to each of the criteria selected. The participant has the obligation to ensure that the hyperlink is functioning. Broken links are the responsibility of the participant and will be interpreted as the absence of evidence.

Hyperlinks can only be provided if indicated. In all other instances, the actual document should be uploaded, or the document name and publication date should be provided. Hyperlinks in uploaded documents will not be checked.

Language

Your Assessment response must be submitted in English.

Documents uploaded as supporting evidence do not need to be entirely translated. However, a thorough summary of the content, sufficient to convey that each requirement has been met, should be provided in English.

Open text boxes

Over the years, the number of scored open text boxes was reduced in an effort to shift focus from management to implementation. GRESB distinguishes between open text boxes:

Each type of text box is clearly indicated in the Assessment Guidance.

“Other” answers

Some indicators offer the opportunity to provide an alternative answer option (‘Other’). Such other answers must stand outside of the options listed in the question. It is possible to add multiple other answers, however scores will not be aggregated. All answers are validated as part of the data validation process.

Indicator-specific guidance

The indicator-specific guidance contains:

Reporting period

Responses must refer to the reporting period identified in EC3 in the Entity and Reporting Characteristics. A response to an indicator must be true at the close of the reporting period; however, the response does not need to have been true for the entire reporting period. GRESB does not favour the use of calendar year over fiscal year or viceversa, as long as the chosen reporting period is used consistently throughout the Assessment.

Reporting level

Assessment indicators are asked at two levels. Each indicator specifies at which level you should respond. As part of the validation process, GRESB may seek confirmation that a question has been answered at the correct reporting level.

Where a participating entity is not part of a larger organization, all Assessment responses should be answered at the entity level.

Where a participating entity is part of a larger investment management organization or group of companies (the ‘Organization’), GRESB directs some indicators to be answered either:

  1. At ‘Organization Level' (applicable to Entity Level);
  2. At ‘Entity Level’.

Organization Level (applicable to Entity Level): These indicators require you to respond at entity level but, if the entity is part of a larger organization (such as an investment management organization or group of companies), your response may relate to organization level activities. However, in these circumstances, the organization level activities must apply to the entity.

Entity Level: These indicators ask for the highest level of detail in your response. Your response should relate specifically to the named entity for which you are submitting an Assessment response.

Service providers (Organization name)

This information is used in the data validation process. State the full name of the organization(s). As part of our annual validation of service providers, we may ask you to provide additional information via the GRESB Portal.

Reporting Scope and Boundaries

GRESB requires property companies and funds to report on their whole portfolio, including both managed and indirectly managed assets.

Joint ventures

Where an asset or assets are part of a joint venture, joint operation or are in joint ownership, participants are required to report on these assets, even if the joint arrangement means that the participant does not have direct operational control over the asset(s). Joint venture partners with a stake of 25 percent or higher are considered to have significant influence over operational initiatives and can therefore drive implementation of sustainability initiatives and performance improvements, even in the case the operational control resides with another partner. If the equity share in a joint venture, joint operation or joint ownership is more than, or equal to 25 percent, participants can choose to either (a) report on their share or (b) report on the full asset. This must be done consistently throughout the portfolio and is regardless of operational or management control. This may result in an asset being included in two separate submissions. However, this does not impact GRESB’s analysis or the benchmark results. If the equity share in a joint venture, joint operation or joint ownership is less than 25 percent, participants can exclude the asset(s) from the reporting boundaries. In either case, participants must explain their approach in the open text box in RC5.2.

If an asset is part of multiple portfolios managed by the same fund manager, the asset should be treated as a joint venture in each portfolio. The rules outlined above apply.

Managed/Indirectly Managed

The definition of Indirectly Managed assets in the Assessment is solely based on the landlord/tenant relationship. Managed assets or buildings are those for which the landlord is determined to have “operational control” where operational control is defined as having the ability to introduce and implement operating policies, health and safety policies, and/or environmental policies. If both the landlord and tenant have the authority to introduce and implement any or all of the policies mentioned above, the asset or building should be reported as a Managed asset. Where a single tenant has the greatest authority to introduce and implement operating policies and environmental policies, the tenant should be assumed to have operational control. For example, in the case of a full repairing and insuring (FRI) lease in England and Wales, the tenant has operational control meaning that the asset is Indirectly Managed.

In the 2018 Assessment, GRESB distinguishes between Managed assets and Indirectly Managed assets in the Performance Indicators aspect. GRESB has done so in recognition of the fact that landlords of Indirectly Managed assets may have little or no control over the use or purchase of utilities for the asset, or over waste management practices. The guidance for this aspect explains GRESB’s approach in more detail.

GRESB does not specifically distinguish between Managed and Indirectly Managed assets outside the Performance Indicator aspect. The Assessment measures ESG performance using a consistent methodology that applies both to listed companies and private funds and which applies across property sectors and regions. GRESB encourages the collection of data and qualitative information regarding ESG issues that give property companies and funds and their investors the tools to identify areas in which they can improve performance and as a toolkit for internal and external engagement.

Furthermore, while GRESB does measure absolute performance, it emphasizes the importance of peer group comparisons in scoring and the analysis of benchmark results. Where participant numbers allow this, GRESB plans to create separate peer groups for each property type, for listed and private entities and for Managed and Indirectly Managed assets. Additionally, participants have the opportunity to explain the composition of their portfolio in the open text box in RC5.1, including clarifying limits on asset control that arise from the landlord/tenant relationship.

With these factors in mind, while the landlord’s day-to-day involvement in Indirectly Managed assets may be limited, the topics covered by the Assessment are equally relevant to Indirectly Managed assets. Accordingly, the same questions and methodology apply.

Scoring Methodology

The GRESB Real Estate Assessment is structured into seven sustainability aspects, with a separate aspect for New Construction & Major Renovations. The weighted combination of scores for each aspect generates the overall GRESB Score. This Reference Guide provides detailed insight into the points available for each indicator, and the weighting of Assessment aspects. The information in this section provides additional context. Points per indicator are decided by GRESB in advance of the Assessment opening for responses. Indicator scoring goes through a three-stage review process based on GRESB’s rules, principles and guidelines.

Points per indicator

For indicators where you can select one or more answers, GRESB awards points cumulatively for each individual selected answer and then aggregates to calculate a final score for the indicator. For many indicators, this final score is capped at a maximum, which means that it is not necessary to select all answers in order to receive full points. This scoring mechanisms allows for reflecting the diversity among property companies and funds and the variety of their sustainability-oriented activities. Open text boxes (where participants answer through a descriptive text), and indicators for which participants select ‘other’ answers, are manually validated. Points are awarded based on the validity of the response.

Scoring model

The scoring model is based on an automated system, which uses a technology platform designed for GRESB by a third party that specializes in data analysis software development. The scoring is completed without manual intervention after data validation has been completed.

The sum of the scores for each question adds up to a maximum of 136.5 points, and the overall GRESB Score is then expressed as a percentage – from 0 to 100. The maximum score for each aspect is a weighted element of the overall GRESB Score. GRESB takes into account the unique characteristics of different property types, not only in benchmarking absolute scores, but also in the scoring of a selection of questions. A selection of indicators is scored based on each portfolio’s main property types – this holds specifically for the Performance Indicators and Building Certifications aspects.

Sustainability Aspect Weight (% Overall Score)
Management 8.1%
Policy & Disclosure 9.5%
Risks & Opportunities 13.2%
Monitoring & EMS 8.8%
Stakeholder Engagement 23.8%
Performance Indicators 25.6%
Building Certifications 11%
New Construction & Major Renovations Scored individually
Health & Well-being Module Scored individually
Resilience Module Scored individually

The overall GRESB Score is divided into two dimensions: Management & Policy (MP) and Implementation & Measurement (IM).

Management & Policy is defined as “the means by which a company or fund deals with or controls its portfolio and its stakeholders and/or a course or principle of action adopted by the company or fund.” The maximum score for Management & Policy is 36.25 points – this is 26.6 percent of the overall GRESB Score and is expressed as a percentage.

Implementation & Measurement is defined as “the process of executing a decision or plan or of putting a decision or plan into effect and/or the action of measuring something related to the portfolio.” The maximum score for Implementation & Measurement is 100.25 points – this is 73.4 percent of the overall GRESB Score and is expressed as a percentage.

Participants reporting on new construction and major renovation projects complete the additional New Construction & Major Renovations (NC&MR) aspect, which receives a separate aspect score that is not included in the overall GRESB Score. Companies and funds that focus on development activities rather than the management of standing investments must complete the separate GRESB Developer Assessment and will receive a separate Developer Score.

Other information

In response to industry feedback, GRESB has compiled a Scoring Document outlining in detail the scoring methodology applied to each indicator in the 2017 Real Estate Assessment. The document served as baseline for development for the 2018 procedure, but differences in the scoring rationale of certain indicators may occur. The 2017 Scoring Document is available to participants via the Assessment Portal and was shared for information purposes and in an effort to increase transparency around the Assessment, Methodology and Scoring processes.

GRESB Rating

The GRESB Rating is an overall measure of how well ESG issues are integrated into the management and practices of companies and funds. The rating is based on the GRESB Score and its quintile position relative to the GRESB universe. It is calculated relative to the global performance of all reporting entities - property type and geography are not taken into account. The GRESB Rating thus provides investors with differentiation in overall ESG performance of the global property sector. If certain regions systematically perform better, they will on average have higher-rated companies and funds. The calculation of the GRESB Rating is based on the GRESB Score and its quintile position relative to the GRESB universe, with annual calibration of the model. If the entity is placed in the top quintile, it will have a GRESB 5-star rating; if it ranks in the bottom quintile, it will have a GRESB 1-star rating, etc.

Entities with a score higher than 50 for both the Implementation & Measurement (IM) and Management & Policy (MP) dimensions receive the Green Star designation, highlighted through a distinctive markup in the Scorecard and Benchmark Reports.

Peer group allocation

Each participant is assigned to a peer group, based on the entity’s legal structure (listed/non-listed), property type and geographical location. To ensure participant anonymity, GRESB will only create a peer group if there is a minimum of five peers in the group.

Peer group assignments do not affect a company/fund’s score, but determine how GRESB puts an Assessment participant’s results into context. The peer group composition is determined by a simple set of quantitative rules and provides consistent treatment for all participants.

A pre-set threshold determines an entity’s geographic location and property type:

Peer group disclosure

For listed companies, the entity name of the peer group constituents is disclosed in the Benchmark Report. For private entities, only the fund manager’s name of the peer group constituents is disclosed. GRESB provides an opt-in option that discloses the entity’s name (listed/public) or fund manager’s name (non-listed/private), as well as the scores for the two dimensions (Management & Policy and Implementation & Measurement). However, this is only disclosed to participants in the peer group that also opted to disclose their name and dimension scores.

2018 GRESB Data Validation Process

Data validation is an important part of GRESB’s annual benchmarking process. The purpose of data validation is to encourage best practices in data collection and reporting. It is a vital element of GRESB’s continued efforts to provide investment grade data to its stakeholders. Following receipt of participant’s Assessment submissions, prior to analyzing the data, GRESB validates the participant’s input data. This process continues from June 15 until July 31, 2018.

GRESB operates a three-tier validation process (All Participant Check, Validation Plus, Validation Interview). Over the past years, the topics covered by the validation process and the scope of work for Validation Plus and Validation Interviews have increased significantly. In 2018, the validation process is completely outsourced to its parent company GBCI, completing a transition process started in 2017.

What data does GRESB Validate?

GRESB validation is a check on (a) the factual accuracy and (b) the logic (e.g. clear, sound reasoning) of GRESB Assessment submissions including:

GRESB checks:

  1. The existence and content of answers to open text boxes;
  2. The additional information provided to Assessment Indicators, e.g. third-party organization names, assurance, audit, certification and verification standards and ‘other’ answers;
  3. Uploaded documents, and/or on provided document name and date of publication;
  4. Automated outlier and consistency checks of performance indicators data in the Real Estate Assessment (energy and water consumption, GHG emissions and waste).

Document uploads are validated based on the validity of the document relative to the requirements stated in the guidance for the indicator, including the actual reference to selected answer options (see “Evidence”). Uploaded evidence that was accepted in previous Assessment submissions might not be accepted in following submissions. Enhanced validation checks and/or a change in the level of validation may result in different validation outcomes. In order to be accepted, the provided evidence should meet the requirements as stipulated in this Reference Guide.

All Participant Checks

Validation Plus

Starting 2018, the random selection of 25% participants for a more detailed check of all supporting evidence will be replaced by a selection of 100% participants being checked on the same subset of indicators. The indicator selection is performed by GRESB and is subject to change on an annual basis. This will allow GRESB to apply a consistent level of scrutiny on all participating entities.

The GRESB/GBCI validation team reviews the uploaded documents, they are not disclosed by GRESB to any third parties, unless the option to make the evidence available to investors was selected. You may redact the documents, provided that enough information to validate your Assessment responses is available. All supporting evidence for indicators selected for Validation Plus must be submitted alongside the Real Estate Assessments. Documents, clarifications and information provided after submission will not be taken into consideration.

Validation Interviews

Validation Interviews participants are automatically selected using a system that analyzes criteria based on the previous year’s Assessment data. Participants selected will be notified by email after the Assessment submission. In 2018, GRESB anticipates that approximately five percent of participants will be selected for a Validation Interview.

Quantitative Data Quality Control

Based on statistical modelling, GRESB identifies outliers in all reported quantitative data in the Performance Indicators Aspect in the Real Estate Assessment. This analysis is performed to ensure that all participating entities included in the benchmarking and scoring process are compared based on a fair, quality-controlled dataset.

Identification of outliers

GRESB identifies reported consumption values as outliers, if the corresponding consumption intensity (consumption/area) and/or its change over time is abnormal relative to all reported data for the particular property type. Through an in-house developed statistical program, GRESB groups and benchmarks values within their property type, which allows for the identification of consumption values that fall outside normally observed ranges. Beyond reviewing the intensity of consumption, the Like-for-Like development of consumption over a two-year period is also used to identify abnormal data points.

Once the overall portfolio consumption and/or its consumption change over time are identified as abnormal, all underlying data points are reviewed by a member of the validation team. All GRESB participants undergo the same data review and all decisions are automatically protocolled by the system so that they can always be reviewed.

Elimination of outliers

GRESB acknowledges that some identified abnormal data points are not the result of incorrect data, but rather the result of unusual business development. To account for this explanation, outliers are not removed if a reasonable explanation by the respondent exists. Once participants enter unusual data points, the GRESB Portal requires a written explanation for those reported values. GRESB reviews all explanations for outliers and considers those before making a final decision on removing the outlier from the dataset. If a data point is identified as outlier and no reasonable explanation is provided, the data point is removed from the participant’s Assessment response, both for scoring and reporting purposes. The outcomes of the outlier validation process are presented in the Benchmark Report and are not communicated to participants during the validation process.

2018 GRESB Real Estate Assessment Changes

GRESB works closely with it’s members and broader industry stakeholders to ensure the Assessment addresses material issues in the sustainability performance of real estate investments. Following an extensive industry engagement through the GRESB Advisory Board, Benchmark Committees and Industry Working Groups, the 2018 GRESB Real Estate Assessment introduces an updated structure and developments to the indicators.

The table below has more information on the changes:

High-level comments

Assessment development process focused on creating alignment between the different GRESB business lines and recognizing topics that are directly aligned with investment rationale

Alignment in terminology, interpretation of indicators, document structure and process standardization is important, especially for managers with investments in multiple asset classes. One of the direct outcomes relates to the renaming of the Real Estate Assessment indicators to associate with each Aspect (e.g. Q1 of the Management Aspect becomes MA1, Q30.1 of the Building Certifications Aspect becomes BC1.1). In the long term, this provides more flexibility in adding or removing indicators without affecting the entire Assessment structure.

The desire for better alignment between GRESB Assessments also led to the amendment of indicators in the Management, Policy & Disclosure, Stakeholder Engagement sections which address the management and policy dimensions of a reporting entity.

Reduced number of scored open text boxes and new portal functionalities for a faster reporting process

The 2018 Assessment developments are designed with the purpose of scoring performance in a way that encourages improvement in ESG performance (measured, tested performance). Allowing participants the option to provide context to their answers is important and will continue to happen via non-scored open text boxes used for reporting purposes in the Benchmark Report.

Updated selection methodology for Validation Plus scope

The validation process continues to be structured in three layers: All Participant Check (APC), Validation Plus (VP) and Validation Interviews (VI). Starting 2018, the random selection of 25% participants for a more detailed check of all supporting evidence will be replaced by a selection of 100% participants being checked on the same subset of indicators. This will allow GRESB to apply a consistent level of scrutiny on all participating entities.

Expanded scope on building certifications, with deeper insights on certifications and an updated building certifications database which will improve the search function

We recognize that the property market benefits from a wide availability of certification schemes and energy ratings. Many of them are generally comparable in complexity and robustness. As a next step in evaluating portfolio performance, GRESB is now asking for the applicable building certification level. This is often included in performance targets and engagement objectives and will allow GRESB to provide more informative output and data analysis. In 2018, the levels are not used for scoring, but the information is relevant for reporting purposes

Better integration of future trends including carbon taxonomy

Reporting on Scope 3 emissions becomes mandatory. The 2017 indicator format only prescribes mandatory reporting of Scope 1 and Scope 2 emissions. As institutional investors using GRESB data are increasingly required to calculate and report their own carbon footprint and reduction targets, they need accurate information on all types of emissions.

Increased focus on data quality through the recognition of asset-level reporting

GRESB believes that a more granular way of reporting on the quantitative elements of the Assessment is necessary for facilitating more robust data checks and output analytics. As such, in 2018 we will incentivize asset-level reporting for a minimum set of data (i.e.,energy consumption, GHG emissions, water consumption, waste generation) through scoring. Note that asset-level reporting will not become mandatory.

Increased transparency on scoring and Assessment methodology

In response to multiple requests for additional information on scoring and methodology, GRESB publishes the 2017 Real Estate Scoring document on the Assessment Portal. This document is shared with participants in good faith and can be used by participants as an additional source of information on the Assessment. Please note that the 2018 scoring methodology can differ partially or completely for certain indicators.

Health & Well-being Module enters its final year

The GRESB Health & Well-being module is entering its third and final year alongside the Real Estate Assessment. After two years of successful voluntary participation in the module coupled with encouraging results, human health is among the top trends expected to shape the real estate industry in the near future. The final year of the GRESB Health & Well-being Module will build on information accumulated over the past years to further develop material indicators for potential integration in the 2019 Real Estate Assessment.

New! Resilience Module

Resilience has emerged as an important topic for real estate and infrastructure investors and the companies, funds and assets they invest in. With the frequency and cost of natural disasters increasing around the world, the topic will remain on the agenda for years to come.

In order to provide our Investor Members with more transparency about the resilience of real estate and infrastructure companies, funds and assets, GRESB is introducing a new Resilience Module for the 2018 Assessment cycle. The new Resilience Module will be available as an optional supplement for 2018 GRESB Assessments, including Real Estate and Infrastructure, and is informed by the Industry Working Groups hosted in January, 2018.

Entity and reporting characteristics

RC2

Add "Millions" in the question text to emphasise the number input should be in millions and implement answer check (i.e.,warning, signal, flag)

Rationale for change: A frequent mistake made in 2017, which required individual follow-up with many participants during the summer.

Impact of change: Additional portal check.

RC5.1

Reporting in “Units” is no longer possible

Rationale for change: Using “Units” as a measure for asset size offers limited possibilities for analysis and little comparability (i.e.,a “unit” can mean anything from a parking space, to a hotel room, to a bed in student accommodation). As we are incorporating additional data checks and creating a more sophisticated outlier analysis for Performance Indicators, we need to apply the same level of scrutiny to all participants.

Impact of change: In 2017, only 26 participants expressed the size of their portfolio (or parts of their portfolio) in units. This option was predominantly used for Parking (indoors), Residential - family homes and Residential - multifamily. We reached out to everyone affected by this change in early January and assessed the impact. With the exception of a few cases of Parking (indoors) portfolios, participants confirmed they would be able to convert the units in sq.ft / m2.

RC5.2, RC-NC1.2, RC-NC2.2

Additional question on portfolio characteristics to ensure complete reporting

Rationale for change: Ensure participants report on their entire real estate portfolio and do not report on a selected subset.

Impact of change: A simple Yes/No question, followed by additional context to provide assurance for participants that portfolios are fairly benchmarked.

RC6/RC-NC3

Replace "United States" in the dropdown list of countries by the full list of US states

Rationale for change: The climate on the West Coast is very different from the one on the East Coast. Knowing the location of the assets by state would allow GRESB to break down the peer groups into more specific parts, similar to the sub-regions in Europe (e.g. Benelux).

Impact of change: Expand the dropdown. Participants need to calculate their regional allocation of assets in more detail.

Management

MA1(Q1)

Open text box no longer scored, but used for reporting purposes

Rationale for change: In 2017, 95% responses received Full points or Partial Points. Most participants are able to explain their sustainability objectives, following the standard validation requirements for the answer. This change is in line with our effort to shift more weight from the management to the quality and implementation of sustainability objectives.

Impact of change: Reduced reporting burden. The total points assigned to this indicator remains 2p.

New option added: Health & Well-being

Rationale for change: Health & Well-being is a cross-cutting issue borrowing elements from the entire spectrum of environmental, social and governance indicators. Human health is among the top trends expected to shape the real estate industry in the near future and an increasing number of real estate companies define their strategy around it. We do not expect all GRESB participants to define their development strategy around health & well-being, but we would like to identify the ones who do.

Impact of change: This section is not used for scoring, but is relevant for the validation of the supporting evidence.

MA2(Q2)

“Investment partners (co-investors/JV partners)” is added to the options list. The “Other” answer option has been removed

Rationale for change: Investment partners/JV partners is a frequently provided “Other” option. All the other answers provided by participants were duplicated of the already listed elements or a duplicate of the sustainability taskforce addressed in MA4.

Impact of change: It is not possible to pre-fill the indicator in 2018. No impact on score.

MA4 (Q4&Q5)

The open text in Q5 is integrated into Q4 and is used for reporting purposes only

Rationale for change: In 2017, 96% participants answered “Yes” in Q5, confirming they have a formal process to inform the most senior decision-maker on the sustainability performance. 98% of these answers received “Full points”, demonstrating that when applicable, internal communication on sustainability is done in a structured way. This indicators presents little opportunity for differentiation from a scoring perspective, but is an important piece for defining the context of the submission.

Impact of change: The open textbox is incorporated into MA4 but will not be scored.

MA5 (Q6)

Restructured indicator coupled with the request for supporting evidence

Rationale for change: Specific provisions for rewards, penalties, or support reflect the entity’s strategic priorities and provide the foundation for accountability of senior management and responsibility for employees. In 2017, 90% of participants confirmed that their organizations include sustainability factors in the annual performance targets of the employees. The updated indicator unpacks that claim to determine how incentives are created for the achievement of ESG targets and who benefits from them.

Impact of change: A more structural approach to ESG targets. No changes on scoring.

Policy and Disclosure

Adjusted the order of indicators within section

Rationale for change: The order was counterintuitive; starting with the indicators on disclosure and followed by the ones on policy. Restructured the section into fewer indicators that follow a simple flow: policies on E, S, G, and disclosure methods.

Impact of change: Better flow of indicators.

PD1 (Q8)

Option “Building safety” is removed

Rationale for change: In the context of this indicator, the answer is often interpreted in the same way as “Environmental attributes of building materials”. The provision of policy clauses on asset-level structural characteristics that can harm tenant safety is captured in the option “asset-level safety (for tenants)” in PD3.

Impact of change: Indicator is still pre-filled, no impact on scoring.

PD2

Elements of Q9, Q10, Q11 are combined into an indicator addressing policies on social issues

Rationale for change: Overlapping elements across indicators.

Impact of change: Better Assessment structure through individual indicators on each of the E/S/G pillars. PD2 receives 2p.

PD3 (Q9)

Update issues for policy/policies on governance (this change is related to the previous one)

Rationale for change: The list of items classified as E/S/G issues was not consistent with the definitions of other reporting guidelines.

Impact of change: List of governance issues has been updated to reflect the most material governance issues for an efficient operation of the entity. The maximum points available for this indicator is increased from 1p to 2p.

PD4

Indicator on board diversity

Rationale for change: Research shows that companies with higher board diversity are more likely to have strong financial performance and fewer instances of bribery, corruption, conflicts of interest and fraud. The aim of this newly created indicator is to zoom into the diversity topic and improve alignment with the GRI, EPRA (GRI102-24 / 103 / 405-1 / 405-2) and PRI standards (IFD20, SG10, LEI10).

Impact of change: The indicator is not scored and only used for reporting purposes in 2018.

Q10

Remove the indicator

Rationale for change: Q10 is overlapping with the updated PD2.

Impact of change: Easier reporting.

Q11

Remove the indicator

Rationale for change: Q11 is overlapping with the updated PD2.

Impact of change: Easier reporting.

PD6

Indicator on company’s commitment to ESG leadership standards or group

Rationale for change: The public commitment to sustainability through affiliation to internationally recognised initiatives contributes to the organization’s credibility and strengthens investor confidence.

Impact of change: The indicator is not scored and only used for reporting purposes in 2018.

PD7

Consolidate two reporting indicators (Q14 and Q20) on ESG misconduct, penalties, incidents or accidents

Rationale for change: Easier reporting and a better flow of indicators.

Impact of change: This indicator is not scored and only used for reporting purposes. However, this information may be used as criteria for the recognition of 2018 GRESB Sector Leaders.

Risk and Opportunities

RO3.2 (Q15.2)

(1) Open text box is no longer scored, (2) % portfolio covered required for each type of risk assessment, (3) required to report on the alignment standard for the risk assessment methodology

Rationale for change: Environmental and/or social risk assessments are performed at asset-level. Asking participants to list the assessments performed is important in testing whether multiple risk assessments are considered, but it is not sufficient for mapping the extent of the analysis compared to the exposure. The extra layer of information on coverage reduces the utility of the open text box, which is why the narrative is now only used for reporting purposes.

Impact of change: The indicator is aligned with ISO 31000. The alignment standard used is not scored and only used for reporting purposes. The open text box is no longer scored, and the number of points is assigned to the percentages of portfolio covered.

RO5, RO6, RO7 (Q17, Q18, Q19)

Removed the Innovation Case Study column from the tables

Rationale for change: Participants are given the possibility of submitting innovation case studies throughout the year, in a format that is less restrictive than the old template.

Impact of change: More flexible reporting.

RO7(Q19)

The indicator is scored similarly to RO5 and RO6

Rationale for change: To recognize participants' effort on the implementation of waste management measures in their portfolio.

Impact of change: The indicator receives 1p, which increases the total number of points assigned to this aspect by 1p.

Monitoring and EMS

ME1

Q21.1 and Q21.2 merged into one indicator ME1

Rationale for change: Consolidation of the Assessment and validation process.

Impact of change: Easier reporting, no impact on scoring.

Stakeholder engagement

The subsection Suppliers is moved before the subsection Tenants/Occupiers

Rationale for change: Consistency in Assessment structure.

Impact of change: None.

Q32

Remove the indicator

Rationale for change: The baseline information for this indicator changed.

Impact of change: In 2017, 97% participants indicated they monitored the implementation of their employee policies.

SE1

Restructured answer options

Rationale for change: Requirement for better analytics capabilities.

Impact of change: Better analytics, no impact on scores or data collection process.

SE2.1, SE 8.1 (Q34.1, Q37.1)

Expand scope of indicator to include survey quantitative metrics

Rationale for change: Surveys are the most frequently used methods for receiving feedback from tenants and employees. They can be an effective means of engagement and if designed properly, an important source of information to be used for increasing the satisfaction levels of the tested groups. In view of this, the outcomes of the surveys need to be translated into unambiguous and easily interpretable customer satisfaction score that can be compared over time or between different sectors.

Impact of change: The new section is not scored and only used for reporting purposes in 2018.

SE10.2(Q39.2)

Score open text box

Rationale for change: The indicator builds on the 2017 intent of examining management practices and controls used to monitor tenant compliance. As an added component, we think it is important to address the actions taken as a consequence of the monitoring phase. This is aligned with BBP’s Leasing Standard tool, which structures green leases in three layers: presence, actions, commitment.

Impact of change: SE10.2 will be validated and can receive maximum 1p.

SE11.1(Q42.1)

Open text box no longer scored in 2018, but used for reporting purposes

Rationale for change: In 2017, 92.6% received Full points of Partial Points. Most participants are able to describe their community engagement programs, following the standard validation requirements for the answer. However, the word limit of 250 proved difficult for being able to cover multiple initiatives in large portfolios, leading to incomplete answers. This change is in line with our effort to shift more weight from the management to the quality and implementation of sustainability objectives.

Impact of change: Reduced reporting burden. The points assigned to the open text box are reallocated to the other elements of the indicator.

SE4.2 (NEW)

Indicator on supply chain engagement

Rationale for change: The intent of this question is to identify if the reporting entity effectively engages with its suppliers in order to deliver sustainable goals communicated in the previous question. The indicator addressed the Check component in the Plan - Do - Check - Act structure defined by ISO.

Impact of change: Indicator not scored in 2018, used for reporting purposes only.

SE6 (NEW)

Indicator on stakeholders grievance mechanisms

Rationale for change: Even where organizations operate optimally, significant negative sustainability impacts in the supply chain, including human rights violations, may be caused by an organisation's decisions and activities. Grievance mechanisms play an important role to provide an access to remedy and reflects an entity’s commitment to ESG management. An organization should establish a mechanism for stakeholders in the supply chain to bring this to the attention of the organization and seek redress.

Impact of change: Indicator not scored in 2018, used for reporting purposes only.

Performance Indicators

asset-level data

Enable the download of asset-level data

Rationale for change: Improve the portal infrastructure in support of asset-level reporting.

Impact of change: This can be done once outliers are solved and missing data is completed, enabling the participant to use a curated dataset online (through the portal) and offline. In combination with other functionalities, this contributes to a more flexible asset-level reporting process controlled by the participant.

Tables structure

Remove “Floor Area Type” column

Rationale for change: The information is already reported in RC5.1.

Impact of change: Simplified tables.

Data coverage scoring

Scoring: Recognize the differences in data collection capabilities between landlord and tenant-controlled areas

Rationale for change: GRESB continues to encourage data collection efforts for the entire real estate portfolio. This includes tenant-controlled spaces, responsible for important fractions of the portfolio’s carbon emissions. However, GRESB recognizes that access to data from tenant-controlled areas may be limited. As such, starting 2018 we would like to make a distinction between the data coverage in landlord-controlled areas and tenant-controlled areas.

Impact of change: Score (and benchmark) data coverage for landlord-controlled areas separately from tenant-controlled areas. The scoring distinction can only be made for participants that choose to report using the option “Base Building + Tenant Spaces”. The data reported in Whole Building will be treated as “Landlord obtained” and will be benchmarked as such. Additional details will be available in the Reference Guide.

L-f-L data

Report on Like-for-Like floor area

Rationale for change: When analyzing the Assessment results, institutional investors would like to be able to put the LFL data into the context of their investment portfolio. The existing indicator structure does not allow this option, as it does not require the size of the LFL portfolio.

Impact of change: The change does not have any implications on the data collection process. These values should be known as a starting point for being able to report the LFL consumption values. Requesting the floor area associated with the reported consumption can also be perceived as an additional data check.

L-f-L scoring

Scoring: Reallocate the 3 points assigned to LFL data

Rationale for change: While data collection is encouraged for the entire real estate portfolio, GRESB recognizes that the landlord’s degree of influence over the way tenants operate spaces is limited. Participants may be at a disadvantage when dealing with tenants that are not motivated to reduce their resource consumption or that operate at long business hours.

Impact of change: Recognize LFL data availability, regardless of performance (1p) and LFL performance (2p) – as opposed to 3p for LFL performance.

PI1.3 (Q25.3)

Scoring: Reallocate the 3 points to also reward off-site generation of renewable energy

Rationale for change: Recognize the fact that not all properties can generate renewable energy on-site.

Impact of change: While on-site renewable energy is preferred, the new scoring structure recognizes that this is not an option for all assets. Additional details will be available in the Reference Guide.

PI2.0 (Q26.0)

Request additional information on the GHG emissions inventory. The reporting boundary in PI2.1 can be established using an equity share, operational control, or financial control approach and Scope II emissions can be calculated using market- or location-based emission factors

Rationale for change: These data points are necessary to increase the comparability of GHG emissions data between participants and enable more accurate carbon footprinting for investors.

Impact of change: Improved alignment with the 2015 amendment to the GHG Protocol Corporate Standard.

PI2.1 (Q26.1)

Scoring: Includes Scope 1, Scope 2, Scope 3. Scope 3 emissions should at a minimum include emissions associated with tenant areas and/or indirectly managed assets if these areas have not been reported on already in Scope 1 and Scope 2 emissions

Rationale for change: The inclusion of Scope 3 in benchmarking enables the scoring of complete real estate portfolios, regardless of operational control. It also recognizes efforts made by participants to collect tenant emissions data.

Impact of change: Scoring implications: 2p for Data Coverage of Scope 1, Scope 2, and (new) Scope 3, 1p for LFL change of Scope 1, Scope 2 (no change), and (new) Scope 3.

PI5(Q29)

Enter year dropdown for long term targets

Rationale for change: Participants should be able to report on long term targets that go beyond 2028. The change would allow everyone to type the year, under the restriction of the interval 2017 and 2050.

Impact of change: Removed limitation in reporting.

Building Certification

Expand the list of provisionally validated certification schemes, and disable the “create a new scheme” function for participants

Rationale for change: GRESB maintains control over the quality of the database and front loads the validation for this section. Participants get immediate feedback on the answers they intend to provide. This will help avoid situations when participants confuse reporting standards with energy ratings, energy ratings with building certifications, etc and the database is updated on a regular basis.

Impact of change: Participants can still add new schemes to the building certifications database, which will be published alongside the Assessment. However, they would only be able to do that by sending an email to info@gresb.com.

BC1.1&BC1.2 (Q30.1&Q30.2)

Expand the scope of the indicator to include building certification level (e.g. “Gold” for LEED, “Very good” for BREEAM), via a predefined drop-down list of certification levels or an open text box for certifications not included in the database

Rationale for change: We recognize that the property market benefits from a wide availability of certification schemes and energy ratings. Many of them are overall comparable in complexity and robustness. As a next step in evaluating portfolio performance, GRESB would like to start asking for the applicable building certification level. This is often included in performance targets and engagement objectives.

Impact of change: Provide more informative output and data analysis, with deeper insights on the building certification and energy rating levels within a portfolio compared to the comparison groups/peers. In 2018, the levels are not used for scoring, but the information is very important for reporting purposes.

BC1.1, BC1.2, and BC2

Change in score allocation

Rationale for change: As an green building certification can include energy rating and/or cover the energy performance of a property, more weight should be allocated to building certifcation-related indicators. In addition, this will disincentivize participants from submitting duplicate entries.

Impact of change: 2 points are transferred from Energy Rating indicator (BC2) to Green Building Certification indicators (BC1.1 & BC1.2). The total number of points for Building Certification Aspect remains unchanged.

asset-level data

Introduce BRE-API Integration

Rationale for change: Build on the existing infrastructure to allow easier access to external sources of information.

Impact of change: Allows participants to easily match assets with their certifications.

New construction and major renovation

NC1

Open text box no longer scored, but used for reporting purposes

Rationale for change: (Alignment with MA1/Q1) In 2017, 96% responses received Full points or Partial points. Most participants are able to explain their sustainability strategy, following the standard validation requirements for the answer. This change is in line with our effort to shift more weight from the management to the quality and implementation of sustainability strategy.

Impact of change: Reduced reporting burden. The total points assigned to this indicator remains 1p.

New option added: Green building certification

Rationale for change: The added option was a frequently reported Other answer in 2017.

Impact of change: No impact on score.

NC5.1

Update on wording so that the indicator is clear and answer options are mutually exclusive

Rationale for change: Wording was updated to improve terminology, and to ensure the answer options are mutually exclusive.

Impact of change: No more double scoring for participants that require certification at a specific level. No impact on score.

NC5.2

Participants can also report on projects that are registered to obtain a green building certification

Rationale for change: Green building certifications are often only awarded after NCMR projects are completed, and pre-certifications are not available for all building certificates. This change enable participants to report on projects that have registered at an official directory of green building certification scheme but not yet obtained the final certificate.

Impact of change: Adapted approach to the use of green building certifications in new construction and/or major renovation projects during the reporting period. No impact on score.

NC7.1

The percentage of projects with renewable energy is used for scoring

Rationale for change: This enable participant to get recognition on their effort in promoting renewable energy in new construction and/or major renovation projects. And it provides a better differentiation between sustainability best practices.

Impact of change: The percentages of all reported renewable projects are added up and capped at 100%, and the total percentage is taken into account in the scoring. It is calculated linearly.

NC7.2

Evidence is removed

Rationale for change: The mandatory open text box provides sufficient information for validation. Removing the mandatory upload can reduce the reporting burden.

Impact of change: No impact on scoring.

NC8, NC11

Participants no longer need to provide evidence for “common water efficiency measures” and “common occupant health and well-being measures”

Rationale for change: Both indicators cover a lot of information, which makes it difficult to provide evidence for each checkbox. To shift the validation focus to the subcategory of "Requirement for planning and design" will concentrate the validation effort and reduce the reporting burden from the participants.

Impact of change: Reduced reporting burden. No impact on scoring.

NC12.1

Shifted the focus of this indicator from health and safety to safety. New options added

Rationale for change: Emphasize the difference between safety and health.

Impact of change: It is not possible to pre-fill the indicator in 2018. No impact on scoring.

NC14

Open text box no longer scored, but used for reporting purposes

Rationale for change: To shift the validation focus on the uploaded document, to emphasize the quality and implementation of community impact monitoring.

Impact of change: Reduced reporting burden. No impact on scoring.

Entity & Reporting Characteristics

Information provided in the Entity and Reporting Characteristics section determines the reporting scope and boundaries for the submission of the GRESB Assessment response. This section identifies the entity's characteristics o and uses the information for benchmark-based scoring. The profile of the reporting entity is also used for peer group selection, which is based on property type and geographic allocation, as well as the nature of ownership and management structure. The section consists of two parts:

Entity Characteristics

Intent

Identify the participating entity. The entity name provided remains confidential and will only be used for validation and to identify the entity in the GRESB Investor Member interface.

Terminology

Entity name: Fund or company name of the investable entity for which the Assessment is submitted. In case of listed companies, the entity name is the legal name of the organization, also used for identification on international stock exchanges. In case of non-listed entities, the entity name identifies the investable portfolio for which the Assessment is submitted.

Entity manager (organization) name: Legal name of the organization that manages the entity (typically applicable for non-listed entities only).

Requirements

Complete all applicable fields.

Intent

Describe the ownership status and characteristics of the participating entity.

Terminology

Closed end fund: An investment vehicle with a fixed amount of capital. Limited liquidity, with the redemption of units provided for at the end of the life of the vehicle.

Core: An entity that includes a preponderance of core attributes; the entity as a whole will have low leasing exposure and low leverage. A low percentage of non-core assets is acceptable. As a result, such portfolios should achieve relatively high-income returns and exhibit relatively low volatility. Low-risk entities that invest in stabilized, income producing property, which is typically held for 5 to 10 years and have limited acquisition/disposal activity after the fund has been invested. Assets in core funds are characterized by stable income returns with less capital growth.

A Core Plus fund invests in similar style assets but adopts a more aggressive management style. Core Plus entities are considered Core for the purposes of the GRESB Assessment.

Finite structure: Refers to funds that have a specific termination date, otherwise known as the funds expiration or liquidation date.

First closing: A date specified by the manager on which the vehicle is launched, the initial capital subscription is completed and the commitment period commences.

Fund or vehicle: Terms used to describe a structure where at least three investors’ capital is pooled together and managed as a single entity with a common investment aim. For the purposes of these definitions, these terms can be used interchangeably.

Government entity: A real estate portfolio managed by a government agency (e.g. U.S. General Services Administration, GSA). Government portfolios are formed of publicly owned, publicly managed and publicly leased properties.

Infinite structure: Refers to funds with no specified or intended termination dates.

ISIN: International Securities Identification Number. ISINs are assigned to securities to facilitate unambiguous clearing and settlement procedures. They are composed of a 12-digit alphanumeric code and act to unify different ticker symbols, which can vary by exchange and currency for the same security. In the United States, ISINs are extended versions of 9-character CUSIP codes.

Listed entity: A company that is publicly listed and traded on a recognized stock exchange, such as Nasdaq or NYSE. Also known as "public entities”.

Non-listed entity: A company or fund that is not a listed or traded on any stock exchange. Also known as private entities or private portfolios.

Open end fund: An investment vehicle with a variable and unlimited amount of capital. Investors may purchase or redeem units or shares from the vehicle as outlined in contractual agreements.

Opportunistic: An entity of preponderantly non-core investments that is expected to derive most of its return from appreciation/ depreciation and/ or which is expected to and may exhibit significant volatility in returns. This volatility may be due to a variety of characteristics, such as exposure to development, significant leasing risk, high leverage, or a combination of moderate risk factors. High-risk entities that invest in greater yielding assets; for example, developments without pre-leasing, properties involving significant repositioning or that are distressed, and large portfolio acquisitions, purchased to be re-packaged and sold in smaller lot sizes. Opportunity funds generally maintain higher leverage limits and have shorter holding periods for assets.

REIT: A Real Estate Investment Trust is an investment vehicle for real estate that is comparable to a mutual fund. Listed REITs are traded on a stock exchange.

Value Added: An entity that generally includes a mix of core investments and non-core investments that will have less stable income streams. The entity as a whole is likely to have moderate lease exposure and moderate leverage. As a result, such entities should achieve a significant portion of the return from appreciation/ depreciation and are expected to exhibit moderate volatility.

Moderately higher-risk entities that typically engage in “forms of active management, such as tenant lease-up, repositioning or redevelopment, to generate returns through adding value to the investment properties”.

Year of commencement: The year in which the reporting entity began investing in the market. If a listed entity is delisted (i.e., taken private) but remains under the same management, the date of original commencement can be used for “date of first closing” for the new non-listed entity. If the entity is taken private by a new management company, the first day of closing should be the date of privatization. This information is not used for scoring and used for context only; portfolio vintage may affect the ability to implement ESG policies and strategies.

Requirements

Select one of the options, select all applicable sub-options and complete the year of first closing/commencement. Entities reporting to GRESB are expected to represent investable vehicles, and these entities are expected to include all direct real estate assets held by the vehicle (i.e., the whole portfolio).

If two or more listed companies merge into one entity during the reporting period, report on the structure, policies and procedures of the newly formed entity as of the end of the reporting period.

Note: GRESB Real Estate Investor Members that invest in listed real estate securities have access to the results of all listed entities that participate in the GRESB Real Estate and/or Developer Assessment.

Reference

INREV Global Definitions Database, 2018

Intent

Set the entity’s annual reporting period.

Terminology

Calendar year: January 1 – December 31.

Fiscal year: The period used to calculate annual financial statements. Depending on the jurisdiction the fiscal year can start on April 1, July 1, October 1, etc.

Reporting period: Responses provided in the Assessment must refer to the reporting period identified in this indicator and should correspond to the most recently closed calendar year / fiscal year, as applicable. A response to an indicator must be true at the close of the reporting period; however, the response does not need to have been true for the entire reporting period. GRESB does not favour the use of calendar year over fiscal year or viceversa, as long as the chosen reporting period is used consistently throughout the Assessment.

Requirements

Select one of the options.

Intent

Establish whether there is a relationship with GRESB Partners (industry associations). Each entity on this list is a GRESB partner, receiving annual reports that show aggregate GRESB results for their membership. It is important for NAREIT members to select “NAREIT” for enrollment in the Leader in the Light Award Program (see Introduction for more information).

Terminology

See definitions in Appendix - Terminology Acronyms.

Requirements

Select one or more of the options. You can answer this indicator either at entity level or organization level.

Reporting Characteristics

Intent

Set the currency for which the entity’s real estate portfolio of assets is denominated.

Requirements

State the currency used by the entity for Assessment indicators that require a monetary value as a response.

Other: State the other currency form.

Intent

Gross asset value (“GAV”) is a metric used in GRESB data analysis to identify the size of the portfolio.

Terminology

GAV: Gross Asset Value.

Requirements

Complete the GAV field in millions (e.g., a GAV of $75,000,000 must be reported as 75). Do not include a currency, as this has been reported in indicator RC1 above, but make sure the currency applied for GAV reporting is consistent with indicator RC1.

The value provided should be the GAV of the investable entity at the end of the reporting period, and should include New Construction and Major Renovation projects (if any).

As an alternative to GAV, you may report using Market Capitalization (for listed entities) or Net Asset Value (NAV), both at the end of the reporting period.

Intent

Metrics are needed to ensure comparability for benchmarking and reporting purposes. Set the reporting units used by the entity.

Requirements

Select one of the options, and use it consistently when reporting the floor area of the portfolio.

Intent

The entity’s primary business activity(ies) during the reporting period is used to determine which GRESB Aspect(s) should be completed.

Terminology

Developer Assessment: In addition to the GRESB Real Estate Assessment, GRESB offers a stand-alone GRESB Developer Assessment, for companies and fund managers that focus on development activities rather than the management of standing investments. The GRESB Developer Assessment evaluates the ESG performance of companies and funds, focusing on policies, strategies and measures related to new construction and major renovation projects.

Major Renovations: Alterations that affect more than 50 percent of the total building floor area or cause relocation of more than 50 percent of regular building occupants. Major renovation projects refer to buildings that were under construction at any time during the reporting period.

New Construction: Includes all activities to obtain or change building or land use permissions and financing. Includes construction work for the project with the intention of enhancing the property’s value. Development of new buildings and additions to existing buildings that affect usable space can be treated as new constructions and reported in RC-NC1. New construction projects refer to buildings that were under construction at any time during the reporting period.

Standing Investments: Real estate properties where construction work has been completed and which are owned for the purpose of leasing and producing rental income. The level of occupancy is not relevant for this definition. Also known as operating buildings.

Requirements

If you select:

  • Management of standing investments only – only complete Aspects 1-7 of the GRESB Real Estate Assessment. You will receive an overall GRESB Real Estate score.
  • Management of standing investments and development of new construction and major renovation projects – complete all indicators in Aspects 1-7 of the GRESB Assessment, as well as the New Construction and Major Renovations Aspect. You will receive two scores: a GRESB Real Estate Score and a separate New Construction and Major Renovations Score.
  • Development of new construction and major renovation projects – complete the GRESB Developer Assessment. You will receive a GRESB Developer Score.

Who should complete the GRESB Developer Assessment?

  • Organizations that develop properties, or acquire property development projects, with aim to sell the ownership stake upon the project’s completion. Projects may be developed to a tenant‘s specification (build to suit), commissioned by an investment manager, or developed at risk.
  • Organizations that acquire properties exclusively for redevelopment and resale.
  • Organizations that manage standing investments as a by-product of their development activities, and for whom the development activities are considered to be the core business.
Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, OO PR 03: Largest property types

Intent

Portfolio composition information determines the structure of the Performance Indicators and Building Certification aspects, and forms the base for GRESB peer groups.

GRESB aims to benchmark participants against similar property types. If that is not possible, we will group property types defined in “Other” based on their property type characteristics.

Terminology

Data Centers: Property used for the purpose of data storage, processing and/or distribution. Examples may include, but are not limited to: telecommunications centers and data storage centers.

Hotel: Includes hotels, motels, youth hostels, lodging, and resorts.

Healthcare: Buildings used for the purpose of primary healthcare. Examples may include, but are not limited to: hospitals, clinics, physical therapy centers and mental health centers.

Industrial, Distribution warehouses: Industrial buildings used for the purpose of storing, processing and distribution of goods to wholesalers, retailers and/or consumers.

Industrial, Manufacturing: Industrial buildings used for the purpose of manufacturing. Otherwise known as a factory or manufacturing plant.

Industrial, Business parks: An industrial business park is an area zoned for the purpose of industrial development, where (light-weight) industrial buildings are grouped together with offices. Examples may include, but are not limited to: industrial estate, trading estate and enterprise zone.

Lodging, Leisure & Recreation: Indoor center used for the purpose of leisure and recreation. Examples may include, but are not limited to: exercise facilities, indoor sports courts, fitness studios, movie theaters, swimming centers and saunas/steam rooms.

Medical office: Examples may include, but are not limited to: offices specifically used for the purpose of medical administration, secondary research or other purposes, exclusive of the property types specified for Healthcare.

Office: Includes free-standing offices, office terraces, unattributed office buildings and office parks.

Operational control: The ability to introduce and implement operating and/or environmental policies and measures.

Other: State the other property type. Possible other answers may include, but are not limited to: kindergarten, community halls. Only use this option if your investments do not fit into any of the options given.

Parking (indoors): Enclosed, indoor vehicle parking facilities, usually consisting of numerous levels for which vehicles are intended to be parked. Otherwise known as multi-story car park, parking building, parking garage, stacked car parking and indoor parking.

Retail, High street: Retail buildings located on the high street in a particular area, usually terraced buildings located in the city centre or other high-traffic pedestrian zones.

Retail, Shopping centers: Enclosed centers for retail purposes. Examples may include, but are not limited to: regional malls and shopping malls.

Retail, Warehouse: Refers to buildings in an un-enclosed retail space, otherwise known as a strip center or strip mall, whereby buildings are usually stand-alone and situated side-by-side with their entrance facing a main street or carpark.

Residential, Multi-family: Refers to multiple residential dwelling spaces contained within one building, otherwise known as a multi-dwelling unit. This includes low-, mid- and high-rise apartment blocks.

Residential, Family homes: Includes both single-family homes and multi-dwelling units not including apartment blocks. A single-family home is a separate, free-standing residential building. A multi-dwelling family home includes those such as two-flats, duplex, semi-detached, and townhouses. Synonyms include: Single-family home, single-detached dwelling, detached house, single-family residence, separate house, free-standing house, townhouse, duplex, condo, semidetached, villa.

Residential, Student housing: Residential buildings used for the purpose of housing students, otherwise known as student apartments, student houses, student residence, student quarters, and student accommodation.

Self-storage: Indoor building or warehouse used for the purpose of self-storage for individuals and/or organizations, otherwise known as self-service storage.

Senior homes: Residential buildings used for the purpose of housing seniors, otherwise known as senior assisted living homes, retirement homes/apartments, retirement villages, old-age homes.

GRESB aims to benchmark participants against other similar property types. If that is not possible, we will group property types defined in “Other” based on their property type characteristics.

Requirements

Entities reporting to GRESB are expected to represent investable vehicles and must include all direct real estate assets held by the vehicle (i.e., the whole portfolio) at any time during the reporting period. If you have questions regarding the allocation of assets to a certain property type category, please contact GRESB using the “Ask GRESB” button next to indicator RC 5.1 in the Assessment Portal.

Floor area type: Select the type of floor area used across the portfolio. The floor area type selected will not influence the analysis, as long as it remains consistent throughout the entire Assessment. It is recommended to report on floor areas using the International Property Measurement Standard (IPMS). IPMS aims to establish a globally consistent methodology for property measurement.

It is mandatory to include the whole floor area for the entire portfolio of the investable entity, regardless of:

  • Restrictions on management control resulting from (a) the landlord and tenant relationship or (b) the ownership structure of the entity. For more information regarding managed/indirectly managed assets (landlord/ tenant relationship only) and reporting boundaries, see the Reporting scope and boundaries section below.
  • The period of time an asset was part of the portfolio during the reporting period. For assets purchased or sold during the reporting period, you must:
    • Include these buildings in the overall reporting scope defined in RC5.1.
    • Include these buildings in the calculations of Absolute Consumption for Performance Indicators (only include the consumption for the period of time the assets were part of the portfolio).
    • Not include these buildings in Like-for-Like Consumption.

Management style (Managed and Indirectly Managed assets): The GRESB Real Estate Assessment seeks to benchmark portfolios against others with similar management styles. Classifying your properties and/or floor areas by their correct management style is a vital component of correct reporting. The two management styles used in the GRESB Real Estate Assessment are as follows:

  • Indirectly Managed: The definition is solely based on the landlord/tenant relationship and is relevant to asset-level data collection and aggregation. For Indirectly Managed assets or buildings, the single tenant is determined to have operational control. For example, in the case of a full repairing and insuring (FRI) lease, the tenant has operational control meaning that the asset is Indirectly Managed.
  • Managed: When both the landlord and tenant have the authority to introduce and implement any or all of the operating and/or environmental policies mentioned above, the property should be reported as a Managed Asset.

Percentage Indirectly Managed: Percentage calculated based on total floor area per property type. The numerator is the total floor area of Indirectly Managed assets per property type. The denominator is the total floor area per property type, not the total floor area of the whole portfolio (i.e., the purpose is to calculate the fraction of Indirectly Managed for each property type).

Percentage GAV: Report the portfolio’s property type diversification (if applicable), by fraction of total GAV or net operating income (NOI). The GAV value for this indicator should be calculated as the GAV of standing investments at the end of the reporting period plus GAV of standing investments sold during the reporting period. If the total value of GAV used to calculate the percentages in this indicator does not match the GAV reported in RC2, use RC5.2 to explain the difference. The sum of percentages must add up to 100 percent.

Number of assets: Report on the total number of assets for each property type. It is possible for the total number of assets reported in the table to exceed the actual number of assets, as mixed-use properties can be reported separately among property type components depending on data coverage (see Mixed-use assets).

Units: Starting 2018, reporting in units is no longer permitted (see 2018 Assessment development overviews in the Introduction section for more information). Instead, participants are required to provide the (lettable) floor area of the portfolio. If no actual floor area data is available, participants should use industry specific estimates and list the applied methodology in RC5.2.

Mixed-use assets/properties: For mixed-use assets that lack data availability by individual property type components, responses will depend on the structure and weightings of the asset. A choice for a single property type may only be made if one of the property type components accounts for more than 75% of the asset’s GAV.

For example, when the asset consists of:

  • 75% Office; 25% Retail — two options exist:
    • Report the asset as Office (and include the entire asset’s floor area)
    • Report the asset as Other: Mixed use (In RC5.1 and in Performance Indicators)
  • 60% Office; 40% Retail – one option exists:
    • Report the asset as Other: Mixed use (In RC5.1 and in Performance Indicators)

Joint ventures (“JVs”): When an asset is owned as part of a joint venture, joint operation, or is in joint ownership, participants are required to report on these assets, even if the joint arrangement means that the participant does not have direct operational control over the asset(s). Joint venture partners with a 25% or more stake in the asset are considered to have significant influence over operational initiatives, and can therefore drive implementation of sustainability initiatives and performance improvements, even if the operational control is with another partner.

  • If the equity share in a JV is more than, or equal 25%, participants may choose to either: (a) report the GAV equivalent of their share or (b) report on the full asset GAV. This must be done consistently throughout the portfolio and regardless of operational or management control.
  • If the equity share in a JV is less than 25%, participants can exclude the asset(s) from the reporting boundaries. In either case, participants must explain their approach in the open text box in RC5.1.
Note: Participants may choose to express the GAV size of the assets using the rules above, but they must always express the physical size of the asset using the entire floor area of the asset. If an asset is part of multiple portfolios managed by the same fund manager, the asset should be treated as a JV in each portfolio. The rules outlined above apply. Reporting JV assets may result in a property being included in two separate GRESB submissions (one from each partner). However, this does not impact GRESB’s analysis or the benchmark results.

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.1, Organisational Boundaries; 5.2, Coverage; 5.7,Analysis-Segmental Analysis

Intent

Provide additional context on the entity’s reporting boundaries.

Requirements

The floor area reported in RC5.1 must reflect the total size of the investable entity’s standing investments. This does not include cash investments, land or new construction and major renovation projects, so participants can still select “Yes” if these elements are excluded from the reporting scope represented in RC5.1. It is required to specify and clarify any inconsistencies with the reporting boundary requirements of GRESB in this open text box.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on additional information about the reporting boundary

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.1, Organisational Boundaries; 5.2, Coverage; 5.7, Analysis-Segmental Analysis

Intent

Describe the location of the entity’s assets by country. GRESB uses the information to create country and regional peer groups.

Requirements

Select the countries in which the entity’s investments are located, using the fraction of total GAV or net operating income (NOI). Use the drop down menu.

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.7, Analysis-Segmental-Analysis

New Construction & Major Renovations

Intent

Describe the entity’s new construction portfolio. This information determines the structure of important elements of the Assessment.

Terminology

Data Centers: Property used for the purpose of data storage, processing and/or distribution. Examples may include, but are not limited to: telecommunications centers and data storage centers.

Hotel: Includes hotels, motels, youth hostels, lodging, and resorts.

Healthcare: Buildings used for the purpose of primary healthcare. Examples may include, but are not limited to: hospitals, clinics, physical therapy centers and mental health centers.

Industrial, Distribution warehouses: Industrial buildings used for the purpose of storing, processing and distribution of goods to wholesalers, retailers and/or consumers.

Industrial, Manufacturing: Industrial buildings used for the purpose of manufacturing. Otherwise known as a factory or manufacturing plant.

Industrial, Business parks: An industrial business park is an area zoned for the purpose of industrial development, where (light-weight) industrial buildings are grouped together with offices. Examples may include, but are not limited to: industrial estate, trading estate and enterprise zone.

Land: Land is an un-occupied property type which does not meet the operational profile of other property types. It can be either open land or land containing dormant buildings not in operational use. If the portfolio includes Land as property type, report on it in RC-NC1 and in the New Construction & Major Renovations Aspect.

Lodging, Leisure & Recreation: Indoor center used for the purpose of leisure and recreation. Examples may include, but are not limited to: exercise facilities, indoor sports courts, fitness studios, movie theaters, swimming centers and saunas/steam rooms.

Medical office: Examples may include, but are not limited to: offices specifically used for the purpose of medical administration, secondary research or other purposes, exclusive of the property types specified for Healthcare.

New Construction: Includes all activities to obtain or change building or land use permissions and financing. Includes construction work for the project with the intention of enhancing the property’s value. Development of new buildings and additions to existing buildings that affect usable space can be treated as new constructions and reported in RC-NC1. New construction projects refer to buildings that were under construction at any time during the reporting period.

Office: Includes free-standing offices, office terraces, unattributed office buildings and office parks.

Operational control: The ability to introduce and implement operating and/or environmental policies and measures.

Other: State the other property type. Possible other answers may include, but are not limited to: kindergarten, community halls. Only use this option if your investments do not fit into any of the options given.

Parking (indoors): Enclosed, indoor vehicle parking facilities, usually consisting of numerous levels for which vehicles are intended to be parked. Otherwise known as multi-story car park, parking building, parking garage, stacked car parking and indoor parking.

Retail, High street: Retail buildings located on the high street in a particular area, usually terraced buildings located in the city centre or other high-traffic pedestrian zones.

Retail, Shopping centers: Enclosed centers for retail purposes. Examples may include, but are not limited to: regional malls and shopping malls.

Retail, Warehouse: Refers to buildings in an un-enclosed retail space, otherwise known as a strip center or strip mall, whereby buildings are usually stand-alone and situated side-by-side with their entrance facing a main street or carpark.

Residential, Multi-family: Refers to multiple residential dwelling spaces contained within one building, otherwise known as a multi-dwelling unit. This includes low-, mid- and high-rise apartment blocks.

Residential, Family homes: Includes both single-family homes and multi-dwelling units not including apartment blocks. A single-family home is a separate, free-standing residential building. A multi-dwelling family home includes those such as two-flats, duplex, semi-detached, and townhouses. Synonyms include: Single-family home, single-detached dwelling, detached house, single-family residence, separate house, free-standing house, townhouse, duplex, condo, semidetached, villa.

Residential, Student housing: Residential buildings used for the purpose of housing students, otherwise known as student apartments, student houses, student residence, student quarters, and student accommodation.

Self-storage: Indoor building or warehouse used for the purpose of self-storage for individuals and/or organizations, otherwise known as self-service storage.

Senior homes: Residential buildings used for the purpose of housing seniors, otherwise known as senior assisted living homes, retirement homes/apartments, retirement villages, old-age homes.

GRESB aims to benchmark participants against other similar property types. If that is not possible, we will group property types defined in “Other” based on their property type characteristics.

Requirements

You must include the whole floor area for all new construction projects, regardless of restrictions on management control resulting from (a) the landlord and tenant relationship or (b) the ownership structure of the entity.

Floor area type: Select the type of floor area used across the portfolio. The floor area type selected will not influence the analysis, as long as it remains consistent throughout the entire Assessment. It is recommended to report on floor areas using the International Property Measurement Standard (IPMS). IPMS aims to establish a globally consistent methodology for property measurement.

GAV: Provide the GAV either according to market value/fair value or based on construction costs.

Note: GAV should be reported in millions.

Intent

Provide additional context on the entity’s reporting boundaries.

Requirements

The floor area reported in RC-NC1.1 must reflect the total size of the investable entity’s new construction projects. It is required to specify and clarify any inconsistencies with the reporting boundary requirements of GRESB in this open text box.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on additional information about the reporting boundary

Intent

Describe the entity’s portfolio of major renovation projects. This information determines the structure of important elements of the Assessment.

Terminology

Data Centers: Property used for the purpose of data storage, processing and/or distribution. Examples may include, but are not limited to: telecommunications centers and data storage centers.

Hotel: Includes hotels, motels, youth hostels, lodging, and resorts.

Healthcare: Buildings used for the purpose of primary healthcare. Examples may include, but are not limited to: hospitals, clinics, physical therapy centers and mental health centers.

Industrial, Distribution warehouses: Industrial buildings used for the purpose of storing, processing and distribution of goods to wholesalers, retailers and/or consumers.

Industrial, Manufacturing: Industrial buildings used for the purpose of manufacturing. Otherwise known as a factory or manufacturing plant.

Industrial, Business parks: An industrial business park is an area zoned for the purpose of industrial development, where (light-weight) industrial buildings are grouped together with offices. Examples may include, but are not limited to: industrial estate, trading estate and enterprise zone.

Land: Land is an un-occupied property type which does not meet the operational profile of other property types. It can be either open land or land containing dormant buildings not in operational use. If the portfolio includes Land as property type, report on it in RC-NC1 and in the New Construction & Major Renovations Aspect.

Lodging, Leisure & Recreation: Indoor center used for the purpose of leisure and recreation. Examples may include, but are not limited to: exercise facilities, indoor sports courts, fitness studios, movie theaters, swimming centers and saunas/steam rooms.

Major Renovations: Alterations that affect more than 50 percent of the total building floor area or cause relocation of more than 50 percent of regular building occupants. Major renovation projects refer to buildings that were under construction at any time during the reporting period.

Medical office: Examples may include, but are not limited to: offices specifically used for the purpose of medical administration, secondary research or other purposes, exclusive of the property types specified for Healthcare.

Office: Includes free-standing offices, office terraces, unattributed office buildings and office parks.

Operational control: The ability to introduce and implement operating and/or environmental policies and measures.

Other: State the other property type. Possible other answers may include, but are not limited to: kindergarten, community halls. Only use this option if your investments do not fit into any of the options given.

Parking (indoors): Enclosed, indoor vehicle parking facilities, usually consisting of numerous levels for which vehicles are intended to be parked. Otherwise known as multi-story car park, parking building, parking garage, stacked car parking and indoor parking.

Retail, High street: Retail buildings located on the high street in a particular area, usually terraced buildings located in the city centre or other high-traffic pedestrian zones.

Retail, Shopping centers: Enclosed centers for retail purposes. Examples may include, but are not limited to: regional malls and shopping malls.

Retail, Warehouse: Refers to buildings in an un-enclosed retail space, otherwise known as a strip center or strip mall, whereby buildings are usually stand-alone and situated side-by-side with their entrance facing a main street or carpark.

Residential, Multi-family: Refers to multiple residential dwelling spaces contained within one building, otherwise known as a multi-dwelling unit. This includes low-, mid- and high-rise apartment blocks.

Residential, Family homes: Includes both single-family homes and multi-dwelling units not including apartment blocks. A single-family home is a separate, free-standing residential building. A multi-dwelling family home includes those such as two-flats, duplex, semi-detached, and townhouses. Synonyms include: Single-family home, single-detached dwelling, detached house, single-family residence, separate house, free-standing house, townhouse, duplex, condo, semidetached, villa.

Residential, Student housing: Residential buildings used for the purpose of housing students, otherwise known as student apartments, student houses, student residence, student quarters, and student accommodation.

Self-storage: Indoor building or warehouse used for the purpose of self-storage for individuals and/or organizations, otherwise known as self-service storage.

Senior homes: Residential buildings used for the purpose of housing seniors, otherwise known as senior assisted living homes, retirement homes/apartments, retirement villages, old-age homes.

GRESB aims to benchmark participants against other similar property types. If that is not possible, we will group property types defined in “Other” based on their property type characteristics.

Requirements

You must include the whole floor area for all major renovation projects, regardless of restrictions on management control resulting from (a) the landlord and tenant relationship or (b) the ownership structure of the entity.

Floor area type: Select the type of floor area used across the portfolio. The floor area type selected will not influence the analysis, as long as it remains consistent throughout the entire Assessment. It is recommended to report on floor areas using the International Property Measurement Standard (IPMS). IPMS aims to establish a globally consistent methodology for property measurement.

GAV: Provide the GAV either according to market value/fair value or based on construction costs.

Note: GAV should be reported in millions.

Intent

Provide additional context on the entity’s reporting boundaries.

Requirements

The floor area reported in RC-NC2.1 must reflect the total size of the investable entity’s major renovation projects. It is required to specify and clarify any inconsistencies with the reporting boundary requirements of GRESB in this open text box.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on additional information about the reporting boundary

Intent

Describe the location of the entity’s new construction and/or major renovation projects by country. GRESB scoring uses the information to create country and regional peer groups.

Requirements

Select the countries in which the entity’s investments are located, using the fraction of total GAV or net operating income (NOI). Use the drop down menu.

In the case of portfolios from the United States, a state by state breakdown is required.

Management

Intent and Overview

This Aspect focuses on how the organization integrates ESG into its overall business strategy. The purpose of this section is to (1) identify who in the participant organization is responsible for managing ESG issues and has decision-making authority; (2) communicate to investors how the entity structures management of ESG issues and (3) determine how ESG is embedded into the organization.

Sustainability Objectives

2017 Indicator

2 points , MP, G

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 01: Responsible Property Investment (RPI) policy

Intent

Clear Environmental, Social and Governance (ESG) objectives help participants identify material issues and integrate them into overall day-to-day management practices. Integrating ESG practices into the overall business strategy fosters alignment between management of sustainability issues and the overall strategy of the organization. It also demonstrates commitment to monitoring ESG objectives and to meeting targets.

Terminology

Environmental objectives: Overall environmental goal, arising from the environmental policy, that an organization sets itself to achieve. The objectives should be quantifiable and correlated with the organization’s ambitions. In turn, they determine targets, which are detailed performance requirements necessary to achieve the environmental objectives.

ESG objectives: Strategic priorities and key topics for the management and/or improvement of ESG issues.

Fully integrated: Complete alignment between the management of sustainability issues and the overall strategy of the organization. A fully integrated strategy incorporates sustainability to manage risk and create competitive advantages beyond utility cost savings.

General sustainability objectives: Cross-cutting objectives to improve overall ESG performance, such as relative position on sustainability indices or rankings.

Governance objectives: Objectives to improve entity governance. These can relate to governance structures and composition of the organization and how this relates to economic, environmental and social dimensions, or the entity’s approach to corporate governance issues such as transparency, board composition, or bribery and corruption.

Not integrated: Sustainability objectives were set disjointly from the overall strategy of the organization.

Overall business strategy: The organization's long-term strategy for meeting its objectives.

Partially integrated: Refers to any level of alignment less than 'fully integrated'.

Social objectives: Objectives to improve absolute or relative on social issues, such as stakeholder engagement or health and well-being.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Evidence: Document upload or hyperlink. The evidence should sufficiently support all the items selected for this question. If a hyperlink is provided, ensure that it is not outdated and the relevant page can be accessed within two steps.

The provided evidence should meet the following criteria:

  1. The objective(s) should be specific, and the evidence supports each of the selected objectives.
  2. Objectives should relate to the entity level. If this is not clear in the provided evidence, ensure to explain how the organizational level objectives relate to the entity in the text field provided for the location of the relevant information.
  3. Evidence should clearly indicate the public availability of the objectives (If applicable).

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on

  1. The scope of the objectives. The text should identify key sustainability priorities and issues relevant to the entity. If applicable, explain how these objectives relate to specific elements of the entity’s overall business strategy. Sustainability and/or ESG objectives can relate to quantifiable goals or to strategic developments;
  2. Time bounds around the objectives. The text should include a description indicating whether the objectives are short-term (one to two years), medium-term (three to five years) or long-term (more than five years);
  3. Explanation around the extent of integration of ESG objectives with business strategy and next steps to foster further alignment.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded based on each of the selected components, the objectives' level of integration into the overall business as well as their public availability.

The open text box is not scored and is for reporting purposes only.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.7, Analysis

SASB (March 2016)-Real Estate Owners, Developers & Investment Trusts: IF0402-05

3 points , MP, G

Indicator aligned with PRI Reporting Frameworkd 2018, Strategy & Governance module, SG 07 and SG 08

Intent

The intent of this indicator is to identify resources allocated to sustainability management. Having personnel dedicated to sustainability issues increases the likelihood that the entity’s sustainability objectives will be properly managed and targets will be met.

Terminology

Dedicated employee(s) for whom sustainability is the core responsibility: The employee(s)’ main responsibility is defining, implementing and monitoring the sustainability objectives at organization and/or entity level.

Employee(s) for whom sustainability is among their responsibilities: The implementation and monitoring of sustainability is part of the employee’s role, but is not necessarily their main responsibility.

ESG objectives: Strategic priorities and key topics for the management and/or improvement of ESG issues.

Investment partners (co-investor/JV partners): A General Partner that co-owns and operates (part of) the entity’s assets and is responsible for implementing ESG objectives at a property level.

Persons responsible: A person or group of people who work on the implementation and completion of the task, project or strategy.

Requirements

Select yes or no. If yes, select all applicable sub-options.

If you select External Consultants, also state the name of the organization.

Details of employee: Participants must provide an e-mail address together with the name and job title of the relevant employee. This information will remain confidential and will only be used for data validation purposes.

Name of the organization: Provide the full name of the organization. You may be asked for additional information about the organization(s). It is possible to report on multiple organizations.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded to each selected responsible party and are then aggregated to calculate the indicator’s final score. It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

Reporting more than one external consultants will not impact scoring; reported answer options in these fields are validated individually, but scores will not be aggregated.

The LinkedIn profiles of the persons responsible for implementing the sustainability objectives are optional fields and do not impact scoring.

References

GRI Sustainability Reporting Standards (2016): 102-20

Recommendations of the Task Force on Climate-Related Financial Disclosures June 2017: Governance A&B

Sustainability Decision Making

2017 Indicator

2 points , MP, G

Indicator aligned with PRI Reporting Frameworkd 2018, Strategy & Governance module, SG 07 and SG 08

Intent

The intent of this indicator is to explore the existence of an internal taskforce focused on sustainability components. The existence of a taskforce focused on sustainability issues demonstrates a structured approach towards integrating sustainability practices across the organization.

Terminology

Asset manager: A person or group of people responsible for developing and overseeing financial and strategic developments of real estate investments at asset level.

Board of Directors: A body of elected or appointed members who jointly oversee the activities of a company or organization as detailed in the corporate charter. Boards normally comprise both executive and non-executive directors.

Fund/portfolio manager: A person or a group who manages a portfolio of real estate investments, and the deployment of investor capital, by creating and implementing asset level strategies, across the entire portfolio.

Property manager: An individual or organization in charge of overseeing day-to-day property operations.

Senior Management Team: A team of individuals who have the day-to-day responsibility of managing the entity/organization. Senior management are sometimes referred to, within corporations, as executive management, executive leadership team, top management, upper management, higher management, or simply seniors.

Sustainability taskforce/committee: A group of individuals who meet, at least four times per year, to discuss and monitor the implementation of the organization’s sustainability objectives.

Requirements

Select yes or no. If yes, select all applicable sub-options.

If you select External Consultants, also state the name of the organization.

Name of the organization: Provide the full name of the organization. You may be asked for additional information about the organization(s). It is possible to report on multiple organizations.

Other: State the other type of member included in the taskforce. Other answers can include individuals (e.g. ESG Manager, IR Manager, HR representative) or groups of individuals (e.g. Product innovation team). It is possible to report on multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this question.

References

GRI Sustainability Reporting Standards (2016): 103-32

RobecoSAM Corporate Sustainability Assessment 2017: 3.1.5, Responsibilities & Committees

Recommendations of the Task Force on Climate-Related Financial Disclosures June 2017: Governance A&B

1 point , MP, G

Intent

The presence of senior management dedicated to sustainability increases the likelihood that sustainability objectives will be met. A structured process to keep the most senior decision-maker informed on the entity’s sustainability performance increases accountability and encourages continuous improvement of sustainability performance.

Terminology

Board of Directors: A body of elected or appointed members who jointly oversee the activities of a company or organization as detailed in the corporate charter. Boards normally comprise both executive and non-executive directors.

Fund/portfolio manager: A person or a group who manages a portfolio of real estate investments, and the deployment of investor capital, by creating and implementing asset level strategies, across the entire portfolio.

Investment Committee: A group of individuals who oversee the entity’s investment strategy, evaluates investment proposals and maintains the investment policies, subject to the Board’s approval.

Senior decision-maker accountable for sustainability: A senior individual with sign off (approval) authority for approving strategic sustainability objectives and steps undertaken to achieve these objectives. The accountable person can delegate the work to other responsible people who will work on the implementation and completion of the task, project or strategy.

Person accountable: A person with sign off (approval) authority over the deliverable task, project or strategy. The accountable person can delegate the work to other responsible people who will work on the implementation and completion of the task, project or strategy.

Senior Management Team: A team of individuals who have the day-to-day responsibility of managing the entity/organization. Senior management are sometimes referred to, within corporations, as executive management, executive leadership team, top management, upper management, higher management, or simply seniors.

Sustainability strategy: Strategy which (1) sets out the participant’s procedures and (2) sets the direction and guidance for an organization’s implementation of sustainability measures.

Requirements

Select yes or no. If yes, select one sub-option and optionally, complete the open text box.

Senior decision-maker: The organization’s most senior decision-maker on sustainability is expected to be actively involved in the process of defining the sustainability objectives and should approve associated strategic decisions regarding sustainability. This person can be the same as the individual identified in MA2.

Other: State the other senior decision-maker on sustainability issues.The answer should only refer to the department or governance structure of which the senior decision maker is part of. Include just one other answer.

Details of employee: Participants must provide an e-mail address together with the name and job title of the relevant employee. This information will remain confidential and will only be used for data validation purposes.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on

  1. Means of communication. Examples can include, but are not limited to: written memos, formal reports, presentations or meeting minutes;
  2. Frequency of reporting. Examples can include, but are not limited to: monthly, quarterly or annually;
  3. Contents of reporting. Examples can include, but are not limited to: (i) an overview of asset performance (quantitative), (ii) realized sustainability performance against objectives, (iii) updates regarding long-term strategic objectives, (iv) updates/notifications regarding regulatory changes or (v) updates regarding proposed actions to improve the performance of the assets.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded based on the selected decision-maker. It is not possible to select more than one answer option.

The open text box is not scored and is for reporting purposes only.

References

CDP, CC1.1

GRI Sustainability Reporting Standards (2016): 103-32

RobecoSAM Corporate Sustainability Assessment 2017: 3.1.5, Responsibilities & Committees

Recommendations of the Task Force on Climate-Related Financial Disclosures June 2017: Governance A&B

3 points , MP, G

Indicator aligned with PRI Reporting Frameworkd 2018, Strategy & Governance module, SG 08

Intent

This indicator intends to identify whether, and how, ESG issues are addressed in employee performance targets. It also identifies how the sustainability-related objectives outlined in MA1 are reflected within the organizational structure. Including sustainability factors in annual performance targets for employees can increase the organization’s capacity to improve sustainability performance.

Terminology

Annual performance targets: Targets set in annual performance reviews, which are assessments of employee performance.

Board of Directors: A body of elected or appointed members who jointly oversee the activities of a company or organization as detailed in the corporate charter. Boards normally comprise both executive and non-executive directors.

ESG Factors: Criteria associated with the entity’s ESG objectives identified in MA1.

Financial consequences: Predetermined monetary benefits incorporated into the employee compensation structures. The financial consequences are contingent upon the achievement of the annual performance targets.

Non-financial consequences: Non-financial benefits (or detriments), such as verbal or written recognition, non-financial rewards or opportunities. The non-financial consequences are contingent upon the achievement of the annual performance targets.

Senior Management Team: A team of individuals who have the day-to-day responsibility of managing the entity/organization. Senior management are sometimes referred to, within corporations, as executive management, executive leadership team, top management, upper management, higher management, or simply seniors.

Requirements

Select yes or no. If yes, select all applicable sub-options.

This indicator considers only employee performance reviews. Accordingly, if the entity employs a contractor, any review of their performance should not be included in the answer to this indicator.

Other: State the other employee type. Other answers should relate to groups of employees, such as asset managers, property managers, or acquisition teams.

Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

The provided evidence should cover the following elements:

  1. Existence of employee targets that cover ESG related issues related to the objectives identified in MA1.
  2. If applicable, mechanisms in place that ensure these targets are met (i.e., consequences - positive or negative).

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded to each selected group of employees, and whether or not targets have consequences. Points are then aggregated to calculate the indicator’s final score.

Reporting multiple other answers will not impact scoring; reported answer options in this field will be validated individually, but scores will not be aggregated.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

RobecoSAM Corporate Sustainability Assessment 2017: 3.1.7, Executive Compensation-Success Metrics and Vesting

Policy & Disclosure

Intent and Overview

The purpose of this section is to (1) describe the organization’s ESG policies and (2) understand how the organization communicates its ESG performance.

Institutional investors and other shareholders are primary drivers for greater sustainability reporting and disclosure among investable entities. Real estate companies and managers share how ESG policies and management practices are implemented, and how these practices impact the business through formal disclosure mechanisms. This Aspect focuses on the policies established to formally manage and communicate ESG issues to investors.

ESG Policies

2017 Indicator

3 points , MP, G

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 01: Responsible Property Investment (RPI) policy

Intent

The intent of this indicator is to describe the existence and scope of policies that address environmental issues. Policies on environmental issues assist organizations with incorporating sustainability criteria into their business practices.

Terminology

Biodiversity and habitat: Issues related to wildlife, endangered species, ecosystem services, habitat management, and relevant topics. Biodiversity refers to the variety of all plant and animal species. Habitat refers to the natural environment in which these plant and animal species live and function.

Building safety: Environmental issues with the potential to create or exacerbate risks to human safety, such as structural failure.

Climate change adaptation: Preparation for long-term change in climatic conditions or climate related events. Example of climate change adaptation measures can include, but are not limited to: building flood defenses, xeriscaping and using tree species resistant to storms and fires, adapting building codes to extreme weather events.

Energy consumption/management: Fuel consumption or management of energy from renewable and non-renewable sources.

Environmental attributes of building materials: Life-cycle environmental characteristics of the building materials, such as embodied carbon or water

GHG emissions: GHGs refers to the seven gases listed in the GHG Protocol Corporate Standard: carbon dioxide (CO2); methane (CH4); nitrous oxide (N2O); hydrofluorocarbons (HFCs); perfluorocarbons (PFCs); nitrogen trifluoride (NF3) and sulphur hexafluoride (SF6).

Policy: Defines an organizational commitment, direction or intention as formally adopted by the organization.

Resilience: Preparedness of the built environment towards existing and future climate changes (i.e., the ability to absorb disturbances such as increased precipitation or flooding while maintaining its structure). This can be achieved by management policies, informational technologies, educating tenant, community, suppliers and physical measures at the asset level.

Waste management: Issues associated with hazardous and non-hazardous waste generation, reuse, recycling, composting, recovery, incineration, landfill and on-site storage.

Water consumption/management: Planning, developing, distributing and managing the optimum use of water resources.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

Other: State the other environmental issue.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this question.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

The United Nations Framework Convention on Climate Change, 1994 Global Reporting Initiative

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 7.9, Narrative on performance

GRI Sustainability Reporting Standards (2016): GRI, 301, 302, 303, 304, 305, 306, 307; GRI, 416

2 points , MP, G

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 01: Responsible Property Investment (RPI) policy

Intent

The intent of this indicator is to describe the existence and scope of policies that address social issues. Policies on social issues assist organizations with incorporating sustainability criteria into their business practices.

Terminology

Asset level safety (for tenants): Protecting tenants and building visitors from structural characteristics that can cause danger, risk, or injury.

Child labor: Work that children should not be doing because they are too young, or, if they have reached the minimum age, because it is dangerous or otherwise unsuitable for them.

Diversity: Similarities and differences among employees in terms of age, cultural background, physical abilities and disabilities, race, religion, sex, and sexual orientation.

Equal opportunity: The right to be treated without discrimination, including, but not limited to, on the grounds of one‘s sex, race, or age.

Forced or compulsory labor: All work or service which is expected from any person under the menace of any penalty and for which the said person has not offered himself voluntarily.

Labor-management relationships: Set of principles and procedures governing the relationship between management and the labor force.

Occupational safety (for employees):Occupational safety focuses on the primary prevention of hazards within workplace. This includes the reduction of risk factors at the workplace leading to cancers, accidents, musculoskeletal diseases, respiratory diseases, hearing loss, circulatory diseases, stress related disorders and communicable diseases and others.

Performance and career development: Training, mentoring, reviews, and other processes intended to understand employee performance and guide career development.

Policy: Defines an organizational commitment, direction or intention as formally adopted by the organization.

Stakeholder engagement: Engagement with individuals/entities that have an interest in the entity.

Worker rights: Fundamental principles and rights at work, covering issues such as freedom of association, right to collective bargaining, the elimination of forced or compulsory labor, the abolition of child labor and the elimination of discrimination with respect to employment and occupation.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

Other: State the other social issue.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this question.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 7.9, Narrative on performance

GRI Sustainability Reporting Standards (2016): GRI, 301, 302, 303, 304, 305, 306, 307; GRI, 416

ILO Declaration on Fundamental Principles and Rights at Work

2 points , MP, G

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 01: Responsible Property Investment (RPI) policy

Intent

This indicator examines the scope and existence of a governance policy. Policies on governance assist organizations with incorporating the management of governance issues into their business practices. This indicator asks whether a participant has a policy in place. RO1 and RO2 (Risks and Opportunities) ask the participant to explain how that policy is implemented.

Terminology

Bribery: The offering, giving, receiving or soliciting an item of value to influence the actions of an official or other person in charge of a public or legal fiduciary duty.

Corruption: Abuse of entrusted power for private gain.

Cyber security: Protection from an assault by a third party via a computer against another computer or computer system, which is intended to compromise the integrity, availability or confidentiality of that computer or computer system.

Executive compensation: The financial payments and non-monetary benefits provided to high-level management in exchange for their work on behalf of an organization.

Fiduciary duty: A legal obligation of one party to act in the best interest of another. The obligated party is typically a fiduciary, that is, someone entrusted with the care of money or property. Also called fiduciary obligation.

Fraud: Wrongful deception intended to result in financial or personal gain.

Governance issues: Governance structure and composition of the organization. This includes how the highest governance body is established and structured in support of the organization’s purpose, and how this purpose relates to economic, environmental and social dimensions.

Policy: Defines an organizational commitment, direction or intention as formally adopted by the organization.

Remuneration: Basic salary plus additional amounts such as those based on years of service, bonuses including cash and equity such as stocks and shares, benefit payments, overtime, time owed, and any additional allowances (such as transportation, living and childcare allowances).

Whistle-blower mechanism: A process that offers protection for individuals that want to reveal illegal, unethical or dangerous practices. An efficient whistle-blower mechanism prescribes clear procedures and channels to facilitate the reporting of wrongdoing and corruption, defines the protected disclosures, outlines the remedies and sanctions for retaliation.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Evidence: Document upload is mandatory for this indicator. The evidence should sufficiently support all the items selected for this question.

Acceptable evidence may include a formal policy that is in place such as an company Policy document, official documents, or other resources describing the entity's governance policies. Reference can be provided, such as bullets or passages within a policy, to descibe each selected issue.

Other: State the other governance issue.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this question.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 2017: 7.9, Narrative on performance

GRI Sustainability Reporting Standards (2016): 102-35; 102-37; GRI 205

RobecoSAM Corporate Sustainability Assessment 2017: 3.1.7

Not scored , MP, G

Intent

This indicator is intended to describe metrics collected by the organization to understand diversity at governance level. Diversity on boards has become a clear priority for investors and is considered to be positively impacting investing decisions.

Terminology

Age group distribution: Percentage of a population, at each age.

Board tenure: Refers to the period or term of an organization board of directors.

Socioeconomic background: Combined measure of sociological and economic background of a person.

Gender ratio: Proportion of one gender to another in a given population.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on monitoring processes and calculation methods.

Scoring

This indicator is not scored and is used for reporting purposes only.

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.1, Diversity-Employee gender diversity

GRI Sustainability Reporting Standards (2016): 102-22

RobecoSAM Corporate Sustainability Assessment 2017: 3.1.3, Diversity Policy

Sustainability Disclosure

2017 Indicator

4 points , MP, G

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 10

Intent

The intent of this indicator is to assess the level(s) of sustainability disclosure undertaken by the entity. Disclosure of sustainability performance demonstrates an entity’s transparency in explaining how sustainability policies and management practices are implemented by the entity, and how these practices impact the business.

Terminology

Alignment: To agree and match with a recognized sustainability standard (either voluntary or mandatory).

Annual report: A yearly record of an organization’s financial performance that is distributed to investors under applicable financial reporting regulations.

Dedicated section on corporate website: A section of the organization’s website that explicitly addresses ESG performance.

Disclosure: The act of making information or data readily accessible and available to all interested individuals and institutions. Disclosure must be external and cannot be an internal and/or ad hoc communication within the participant organization.

Entity reporting to investors: A report prepared by the participant for the purpose of informing investors on the (sustainability) performance of the entity. A summary outlining an entity’s overall approach to sustainability that does not contain any analysis of performance (as defined below) is insufficient.

ESG actions: Specific activities performed to improve management of environmental, social and governance issues within the organization.

ESG performance: Reporting of material indicators that reflect implementation of environmental, social, or governance (ESG) management.

Integrated Report: A report that is aligned with the requirements of the International Integrated Reporting Council (IIRC) Integrated Reporting Framework (December 2013).

Reporting Level:

  1. Entity: related specifically to the named entity, where entity is defined as the investable portfolio for which you are submitting an Assessment response.
  2. Investment Manager: related to the investment management organization or company of which the participating entity forms a part.
  3. Group: related to the group of companies of which the participating entity forms a part.

Standalone sustainability report: A report dedicated to the organization’s (and if applicable, entity’s) sustainability performance.

Requirements

Select yes or no. If yes, select all applicable sub-options.

In all cases:

  1. Select the applicable reporting level. If the organization reports at multiple levels, you should select the most detailed reporting level;
  2. If applicable, select alignment from the dropdown lists to confirm that your method of reporting is aligned with an external standard or guideline. The list is based on leading international best practice guides for sustainability reporting. If reporting is aligned with more than one standard, select the standard with which there is most alignment;
  3. Provide document upload or URL.

Evidence: Document upload or hyperlink. The evidence should sufficiently support all the items selected for this question. If a hyperlink is provided, ensure that it is not outdated and the relevant page can be accessed within two steps.

  • Integrated report: The document upload or URL provided must contain evidence of alignment with the International Integrated Reporting Council (IIRC) Integrated Reporting Framework (December 2013).
  • Reporting to investor: A summary outlining an entity’s overall approach to sustainability that does not contain any analysis of performance is insufficient. Entity reporting to investors should include an year-on-year comparison of sustainability performances supported by explanatory comments. Performance achievements should be linked to measures formerly implemented by the entity.

Other: State the other method of reporting. Include just one other answer.

Reporting period: Answers must refer to the reporting period identified in EC3. Except Stand-alone sustainability reports and integrated reports, that which Stand-alone sustainability reports can also refer to the year prior to the reporting year, and integrated reports can also refer to two years prior to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity and/or organization level.

Scoring

Points are awarded to each disclosure method based on (1) reporting level, (2) alignment and (3) public availability.

Reporting levels receive the following points: Group, 0.25 point; Investment Manager, 0.5 point; and Entity, 1 point.

Reporting multiple other answers will not impact scoring, and it is not necessary to select all answer options in order to obtain the maximum score for this indicator.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

ANREV (endorsed INREV Sustainability Reporting Recommendations), 2012

APREA Sustainability Handbook, 2012

EPRA Best Practice Recommendations in Sustainability Reporting, September 2017

GRI Sustainability Reporting Guidelines, 2016: 202-1; 205-3; 308-2

IIRC Integrated Reporting Framework, 2013

INREV Sustainability Reporting Recommendations, 2012

2 points , MP, G

Intent

The purpose of this indicator is to assess the entity’s use of third-party checks, review and assurance to ensure the reliability, integrity and accuracy of ESG disclosure.

ESG-related information is essential to the evaluation of investments’ performance. Third-party checks on sustainability disclosure help investors confirm the information disclosed.

Terminology

Assured/Verified: The process of checking data, as well as its collection methods and management systems, through a systematic, independent and documented process against predefined criteria or standards. Assurance/Verification services should be in line with a standard and can only be provided by accredited professionals.

Checked: A third-party review that does not comply with the definition of Assurance/Verification.

Verified: The process of checking data, as well as its collection methods and management systems, through a systematic, independent and documented process against predefined criteria or standards. Verification can be performed by a wide range of accredited professionals.

Requirements

Respond for all methods of reporting selected in PD5.1. For each disclosure:

  1. State whether the methods of reporting are checked, verified or assured (select one option; the most detailed level of scrutiny to which the reporting was subject);
  2. Select the assurance/verification standard (as applicable) from the dropdown menu (See Accepted assurance schemes in the Appendices);
  3. State the name of the reviewing/verification/assurance organization.

Other: State the other method of reporting. Include just one other answer, which must match the answer provided in PD5.1

Reporting period: Answers must refer to the reporting period identified in EC3. Except Stand-alone sustainability reports and integrated reports, that which Stand-alone sustainability reports can also refer to the year prior to the reporting year, and integrated reports can also refer to two years prior to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity and/or organization level.

Scoring

Points are awarded based on the average level of review across disclosure methods.

PD5.2 is linked to PF5.1. The selections of disclosure methods in both questions must match, otherwise the answer in PD5.2 will not be considered valid. Evidence provided in PD5.1 will be used to validate this indicator; therefore, the evidence in PD5.1 should also include confirmation of the existence and type of third-party check.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

GRESB’s accepted assurance and verification are aligned with the Carbon Disclosure Project (CDP).accepted verification standards.

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.4, Third party assurance

RobecoSAM Corporate Sustainability Assessment 2017: 4.1.2, Assurance

Not scored , MP, G

Intent

This indicator intends to identify public commitments made by the organization. A public commitment to sustainability through externally recognized initiatives contributes to the organization’s credibility and strengthens investor confidence.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Evidence: Hyperlink is mandatory for this indicator. The evidence should sufficiently support all the items selected for this question. Ensure that the hyperlink is not outdated and the relevant page can be accessed within two steps.

To qualify as valid supporting evidence, the URL must demonstrate the existence of publicly available commitment to ESG leadership relating to each of the issue selected.

Other: State the other public commitment. It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity and/or organization level.

Scoring

This indicator is not scored and is used for reporting purposes only.

Not scored , MP, G

Intent

This indicator intends to identify whether the reporting entity has a defined process in place to communicate any ESG-related misconducts to its stakeholders if the entity has incurred any environment, social or governance fines and/or penalties at its investment properties or elsewhere.

Terminology

ESG fines and/or penalties: Sanctions resulting from an illegal act or non-compliant behavior, which directly harms the environment and/or stakeholders of the organization.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Other: State the other stakeholders group. It is possible to add multiple other answers.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on the process the reporting entity intends to follow in order to communicate any ESG-related misconducts to its stakeholders.

Scoring

This indicator is not scored and is used for reporting purposes only.

*The information in PD7.1 and PD7.2 may be used as criteria for the recognition of 2018 Sector Leaders.

Reference

GRI Sustainability Reporting Standards, 2016: 102-17, Mechanisms for advice and concerns about ethics

CDP Reporting Guidelines, Compliance

RobecoSAM Corporate Sustainability Assessment, 2017: 3.3.6, Report on breaches

Not scored , MP, G

Intent

This indicator intends to ensure the communication of any environmental fines and/or penalties to the reporting entity’s investor. Recurring misconducts and penalties can increase the risk profile of the portfolio as they impose financial, management and regulatory burdens on the entity.

Terminology

ESG fines and/or penalties: Sanctions resulting from an illegal act or non-compliant behavior, which directly harms the environment and/or stakeholders of the organization.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on how the entity has resolved or intends to resolve the above issue(s).

Scoring

This indicator is not scored and is used for reporting purposes only.

*The information in PD7.1 and PD7.2 may be used as criteria for the recognition of 2018 Sector Leaders.

References

GRI Sustainability Reporting Standards, 2016: 205-3; 419-1

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 2017: 5.8, H&S

Risks & Opportunities

This Aspect investigates the steps undertaken by organizations to stay abreast of ESG related risks related to bribery and corruption, climate change, environmental legislation, market risks and other material ESG risks. The Aspect also addresses the actions taken to capitalize on identified improvement opportunities.

Governance

2017 Indicator

1 point , IM, G

(refers to PD3 Policy & Disclosure Aspect)

Intent

This indicator examines specific actions taken to limit exposure to governance-related risks. It is linked to PD3 in Policy & Disclosure, and refers to the implementation of the policy that addresses risks from exposure to governance issues (as defined in PD3).

Terminology

Governance risks for employees: Examples can include, but are not limited to: bribery and corruption risks, insider trading, sharing of confidential information.

Investment due diligence process: A systematic process to collect and interpret information about a prospective investment.

Regular follow-ups: Training offered at least once a year to employees, starting from their second year of employment.

Employee training on governance risks: Employee training ensures that employees understand and adhere to the laws, regulations and internal corporate policies that apply to their daily roles is essential to ensuring that compliance regulations are met in the workplace.

Whistle-blower mechanism: A process that offers protection for individuals that want to reveal illegal, unethical or dangerous practices. An efficient whistle-blower mechanism prescribes clear procedures and channels to facilitate the reporting of wrongdoing and corruption, defines the protected disclosures, outlines the remedies and sanctions for retaliation.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

The provided evidence should cover the following elements:

  1. The existence of selected systems and procedures;
  2. Proof of implementation into the organization’s operations.

Examples of supporting evidence may include an excerpt from the organization’s policy manual, example of formal update sent by the organization’s general counsel, due diligence checklists, employee training slides, or a signed letter of verification from a third party.

A sign-off from employee on the Code of Conduct is not considered valid evidence for formal employee training.

Other: State the other system or procedure in place. It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at organization level.

Scoring

Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this question.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

OECD Cleangovbiz, “Whistleblower protection: encouraging reporting”, 2012

2 points , IM, G

Intent

This indicator is intended to describe the variables included the entity’s governance and/or social risk assessments. Risk assessments refer to the identification and quantification of processes, systems and/or scenarios that could potentially cause harm to the entity and its underlying investors. It is important that organizations monitor their exposure to governance-related risks, as these can negatively impact reputation and expose the entity to civil and criminal penalties.

RO2 asks whether certain governance and/or social issues are assessed in a risk assessment by the entity, which is different from social and governance policies (PD2 and PD3).

Terminology

Bribery: The offering, giving, receiving or soliciting an item of value to influence the actions of an official or other person in charge of a public or legal fiduciary duty.

Corruption: Abuse of entrusted power for private gain.

Child labor: Work that children should not be doing because they are too young, or, if they have reached the minimum age, because it is dangerous or otherwise unsuitable for them.

Diversity: Similarities and differences among employees in terms of age, cultural background, physical abilities and disabilities, race, religion, sex, and sexual orientation.

Equal opportunity: The right to be treated without discrimination, including, but not limited to, on the grounds of one‘s sex, race, or age.

Executive compensation: The financial payments and non-monetary benefits provided to high-level management in exchange for their work on behalf of an organization.

Forced or compulsory labor: All work or service which is expected from any person under the menace of any penalty and for which the said person has not offered himself voluntarily.

Labor-management relationships: Set of principles and procedures governing the relationship between management and the labor force.

Risk assessment: Careful examination of the factors that could potentially adversely impact the value or longevity of a real estate asset. The results of the assessment assist in identifying measures that have to be implemented in order to prevent and mitigate the risks.

Shareholder rights: Assessing the potential risk of breaking or working against the entity’s contractual shareholder rights. Shareholder rights are defined in the company’s charter and bylaws.

Worker rights: Fundamental principles and rights at work, covering issues such as freedom of association, right to collective bargaining, the elimination of forced or compulsory labor, the abolition of child labor and the elimination of discrimination with respect to employment and occupation.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

The provided evidence should cover the following elements:

  1. Risk exposure - Evidence of the methodology used to identify risks. A good example would be a risk register, or matrix ranking the materiality of each risk.
  2. Evidence should explain the governance risk assessments as well as the response to mitigate the outcomes of the assessments. Examples of responses to mitigate outcomes can include the development of policies
  3. Applicability level - The parties included in the risk assessment. Examples can include, but are not limited to: individual parts of the business or business units, employees, business partners, suppliers, contractors and sub-contractors and other third parties.

Examples of supporting evidence may include an excerpt from the organization’s policy manual, example of formal update sent by the organization’s general counsel, or a signed letter of verification from a third party.

Other: State the other governance issue.

It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this question.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

RobecoSAM Corporate Sustainability Assessment 2017: 5.2.3, Human rights-assessment

Environmental & Social

2017 Indicator

2 points , IM, E

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 04

Intent

The intent of this indicator is to identify if the entity performs asset-level environmental and/or social assessments as a standard part of the due diligence process for new acquisitions.

Risk assessments help to reduce exposure to long-term sustainability risks. Integration of sustainability risk assessments into the acquisition process demonstrate a commitment to ESG management, a focus on mitigating risks that might impact returns, and a forward-looking approach to the development of the portfolio.

Terminology

Building safety and materials: Assessment to identify potential hazards resulting, for example, from vulnerabilities caused by the construction materials used, major structural flaws or the presence of asbestos.

Climate change adaptation: Preparation for long-term change in climatic conditions or climate related events. Example of climate change adaptation measures can include, but are not limited to: building flood defenses, xeriscaping and using tree species resistant to storms and fires, adapting building codes to extreme weather events.

Contamination: Land and groundwater pollution which may require action to reduce risk to people or the environment. As an example, contamination can be assessed through a Phase I or II Environmental Site Assessment.

Due diligence process: The process through which a potential acquirer evaluates a target asset for an acquisition, contributing to well-informed investment decision-making.

Energy efficiency: Refers to products or systems using less energy to provide the same consumer benefit.

Energy supply: Availability of conventional power (generated by the combustion of fuels: coal, natural gas, oil) or renewable energy (e.g. sun, wind, water, organic plant and waste material).

Environmental risks: Impact on living and non-living natural systems, including land, air, water and ecosystems. This includes, but is not limited to biodiversity, transport and product and servicerelated impacts, as well as environmental compliance and expenditures.

GHG emissions: GHGs refers to the seven gases listed in the GHG Protocol Corporate Standard: carbon dioxide (CO2); methane (CH4); nitrous oxide (N2O); hydrofluorocarbons (HFCs); perfluorocarbons (PFCs); nitrogen trifluoride (NF3) and sulphur hexafluoride (SF6).

Health and well-being: “Health is a complete state of physical, mental and social well-being, not merely the absence of disease or infirmity”(WHO). Health & well-being is impacted by genetics and individual behavior as well as environmental conditions. Particularly relevant to GRESB stakeholders are the social determinants of health, which are the “conditions in which people are born, grow, work, live and age, and the wider set of forces and systems shaping the conditions of daily life.” These are the conditions that enable or discourage healthy living. This could include issues such as physical activity, healthy eating, equitable workplaces, maternity and paternity leave, access to healthcare, reduction in toxic exposures, etc.

A risk assessment on health and well-being might address only one or both of these topics, and could include assessments of risks associated with employees, customers, surrounding communities or all of the above.

Indoor environmental quality: Refers to the conditions inside the building. It includes air quality, access to daylight and views, pleasant acoustic conditions and occupant control over lighting and thermal comfort. It may also include the functional aspects of space such as whether the layout provides easy access to tools and people when needed, and whether there is sufficient space for occupants.

Natural hazards: Naturally occurring hazards, including but not limited to flooding, drought, hail storms, earthquakes and fire (including wildfire).

Regulatory risks: Examples include, but are not limited to: mandatory energy/carbon disclosure schemes, changes in taxes e.g. carbon tax, extreme volatility in energy prices due to regulation, zoning.

Resilience: Preparedness of the built environment towards existing and future climate changes (i.e., the ability to absorb disturbances such as increased precipitation or flooding while maintaining its structure). This can be achieved by management policies, informational technologies, educating tenant, community, suppliers and physical measures at the asset level.

Risk assessment: Careful examination of the factors that could potentially adversely impact the value or longevity of a real estate asset. The results of the assessment assist in identifying measures that have to be implemented in order to prevent and mitigate the risks.

Socio-economic risks: Impact on social well-being, livelihoods and prosperity of local communities and individuals. Examples include: economic/political instability, vulnerability to pandemics and epidemics, crime and vandalism, and the displacement of people.

Transportation risks: Risks associated with transportation around the location of a building in relation to pedestrian, bicycle and mass-transit networks, in context of the existing infrastructure and amenities in the surrounding area.

Water efficiency: Refers to the conservative use of water resources through water-saving technologies to reduce consumption.

Water supply: Provision of surface water, groundwater, rainwater collected directly or stored by the organization, waste water from another organization, municipal water supplies or other water utilities, usually via a system of pumps and pipes.

Waste management: Issues associated with hazardous and non-hazardous waste generation, reuse, recycling, composting, recovery, incineration, landfill and on-site storage.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Evidence: Document upload is mandatory for this indicator. The evidence should sufficiently support all the items selected for this question.

The provided evidence should cover the following elements:

  1. Specific environmental and/or social risk assessment issues addressed in the entity’s due diligence process;
  2. Proof of standard implementation into the entity’s acquisitions process.

Examples of valid evidence may include: (1) a standard risk assessment template document that was completed by the entity during the acquisitions process, (2) proof of a risk assessment being performed during the reporting period or (3) standard requirements for performing environmental and/or social risk assessments within the entity’s acquisition process protocol.

Other: State the other risk factor assessed.

It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this question.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

World Economic Forum, Global Risks, 2014 Environment Agency, Groundwater protection: Principles and practice, 2013

World Health Organization

SASB-Real Estate Owners, Developers & Investment Trusts (March 2016): IF0402-05; IF0402-09; IF0402-14

RobecoSAM Corporate Sustainability Assessment 2017: 3.2.2 Risk Correlation

Recommendations of the Task Force on Climate-Related Financial Disclosures June 2017: Strategy A&B; Risk Management A&B

2 points , IM, E

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 16.1

Intent

The intent of this indicator is to identify if the entity has performed environmental and/or social risk assessments on its standing investments over the last three years. Similar to RO3.1 above, sustainability risk assessments of standing investments demonstrate an ongoing commitment to ESG management, a focus on mitigating risks that may negatively impact returns and a forward-looking approach to the development of the portfolio.

Terminology

Biodiversity and habitat: Issues related to wildlife, endangered species, ecosystem services, habitat management, and relevant topics. Biodiversity refers to the variety of all plant and animal species. Habitat refers to the natural environment in which these plant and animal species live and function.

Building safety and materials: Assessment to identify potential hazards resulting, for example, from vulnerabilities caused by the construction materials used, major structural flaws or the presence of asbestos.

Climate change adaptation: Preparation for long-term change in climatic conditions or climate related events. Example of climate change adaptation measures can include, but are not limited to: building flood defenses, xeriscaping and using tree species resistant to storms and fires, adapting building codes to extreme weather events.

Contamination: Land and groundwater pollution which may require action to reduce risk to people or the environment. As an example, contamination can be assessed through a Phase I or II Environmental Site Assessment.

Due diligence process: The process through which a potential acquirer evaluates a target asset for an acquisition, contributing to well-informed investment decision-making.

Energy efficiency: Refers to products or systems using less energy to provide the same consumer benefit.

Energy supply: Availability of conventional power (generated by the combustion of fuels: coal, natural gas, oil) or renewable energy (e.g. sun, wind, water, organic plant and waste material).

Environmental risks: Impact on living and non-living natural systems, including land, air, water and ecosystems. This includes, but is not limited to biodiversity, transport and product and servicerelated impacts, as well as environmental compliance and expenditures.

GHG emissions: GHGs refers to the seven gases listed in the GHG Protocol Corporate Standard: carbon dioxide (CO2); methane (CH4); nitrous oxide (N2O); hydrofluorocarbons (HFCs); perfluorocarbons (PFCs); nitrogen trifluoride (NF3) and sulphur hexafluoride (SF6).

Health and well-being: “Health is a complete state of physical, mental and social well-being, not merely the absence of disease or infirmity”(WHO). Health & well-being is impacted by genetics and individual behavior as well as environmental conditions. Particularly relevant to GRESB stakeholders are the social determinants of health, which are the “conditions in which people are born, grow, work, live and age, and the wider set of forces and systems shaping the conditions of daily life.” These are the conditions that enable or discourage healthy living. This could include issues such as physical activity, healthy eating, equitable workplaces, maternity and paternity leave, access to healthcare, reduction in toxic exposures, etc.

A risk assessment on health and well-being might address only one or both of these topics, and could include assessments of risks associated with employees, customers, surrounding communities or all of the above.

Indoor environmental quality: Refers to the conditions inside the building. It includes air quality, access to daylight and views, pleasant acoustic conditions and occupant control over lighting and thermal comfort. It may also include the functional aspects of space such as whether the layout provides easy access to tools and people when needed, and whether there is sufficient space for occupants.

Natural hazards: Naturally occurring hazards, including but not limited to flooding, drought, hail storms, earthquakes and fire (including wildfire).

Regulatory risks: Examples include, but are not limited to: mandatory energy/carbon disclosure schemes, changes in taxes e.g. carbon tax, extreme volatility in energy prices due to regulation, zoning.

Resilience: Preparedness of the built environment towards existing and future climate changes (i.e., the ability to absorb disturbances such as increased precipitation or flooding while maintaining its structure). This can be achieved by management policies, informational technologies, educating tenant, community, suppliers and physical measures at the asset level.

Risk assessment: Careful examination of the factors that could potentially adversely impact the value or longevity of a real estate asset. The results of the assessment assist in identifying measures that have to be implemented in order to prevent and mitigate the risks.

Socio-economic risks: Impact on social well-being, livelihoods and prosperity of local communities and individuals. Examples include: economic/political instability, vulnerability to pandemics and epidemics, crime and vandalism, and the displacement of people.

Transportation risks: Risks associated with transportation around the location of a building in relation to pedestrian, bicycle and mass-transit networks, in context of the existing infrastructure and amenities in the surrounding area.

Water efficiency: Refers to the conservative use of water resources through water-saving technologies to reduce consumption.

Water supply: Provision of surface water, groundwater, rainwater collected directly or stored by the organization, waste water from another organization, municipal water supplies or other water utilities, usually via a system of pumps and pipes.

Waste management: Issues associated with hazardous and non-hazardous waste generation, reuse, recycling, composting, recovery, incineration, landfill and on-site storage.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Other: State the other risk factor assessed.

It is possible to report multiple other answers.

Percentage of portfolio covered: Fraction of the portfolio calculated by floor area for which risk assessments were performed during the last three years. The numerator is the floor area of the assets for which the applicable technical building assessment was performed. The denominator is the total floor area of the portfolio as reported in RC5.1.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on

  1. Risk exposure. Describe the methodology used to identify the main risks to which the entity is exposed, as identified above.
  2. Level of implementation. Identify the parties included in the assessment, e.g. employees, business partners, suppliers, contractors and subcontractors and other third parties, etc.
  3. Risk mitigation. Describe the actions taken to mitigate the identified risks. The description can refer to actions taken to:
    • Mitigate the cause of the identified risks (e.g. policies for CO2 reduction to reduce pollution, and thus minimizing exposure to carbon taxes);
    • Mitigate the effects of the identified risks (e.g. policies for protection of the central plant against flooding risk);
  4. Follow-up procedure. Describe the procedure employed if the identified risks occur.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded to each selected option, weighted per percentage of portfolio covered, and are then aggregated to calculate the indicator’s final score.

Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this question.

The open text box is not scored and is for reporting purposes only.

References

ISO 31000:2009

World Economic Forum, Global Risks Report, 2017

Environment Agency, Groundwater protection: Principles and practice, 2013

SASB-Real Estate Owners, Developers & Investment Trusts (March 2016): IF0402-05; IF0402-09; IF0402-14

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.8, H&S-Comp asset health and safety compliance

RobecoSAM Corporate Sustainability Assessment 2017: 3.2.2 Risk Correlation

World Health Organization

Recommendations of the Task Force on Climate-Related Financial Disclosures June 2017: Strategy A&B; Risk Management A&B

4.5 points , IM, E

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 16.1

Intent

The intent of this indicator is to examine the steps taken by the organization to understand the efficiency, water, waste and health & well-being improvement opportunities available to the entity.

Terminology

Energy efficiency: Refers to products or systems using less energy to provide the same consumer benefit.

Health and well-being: “Health is a complete state of physical, mental and social well-being, not merely the absence of disease or infirmity”(WHO). Health & well-being is impacted by genetics and individual behavior as well as environmental conditions. Particularly relevant to GRESB stakeholders are the social determinants of health, which are the “conditions in which people are born, grow, work, live and age, and the wider set of forces and systems shaping the conditions of daily life.” These are the conditions that enable or discourage healthy living. This could include issues such as physical activity, healthy eating, equitable workplaces, maternity and paternity leave, access to healthcare, reduction in toxic exposures, etc.

Technical building assessment: Formal documented assessment of a building undertaken by a person with technical expertise. Examples of persons with technical expertise can include, but are not limited to: building engineers and building surveyors. Examples of types of assessment can include, but are not limited to: assessments of the structure of the building and materials used, how the building is operated, and how the building is used by its occupants.

Water efficiency: Refers to the conservative use of water resources through water-saving technologies to reduce consumption.

Waste management: Issues associated with hazardous and non-hazardous waste generation, reuse, recycling, composting, recovery, incineration, landfill and on-site storage.

Requirements

Select yes, no or not applicable. If yes, also (1) select all applicable sub-options and (2) complete the percentages by floor area for the whole portfolio.

Percentage of portfolio covered: Fraction of the portfolio calculated by floor area for which technical building assessments were performed during the last three years. The numerator is the floor area of the assets for which the applicable technical building assessment was performed. The denominator is the total floor area of the portfolio as reported in RC5.1.

Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

The provided evidence should cover the following elements:

  1. Energy efficiency: a) the performance of technical building energy efficiency assessments during the past four years, and b) the scope of the energy assessment. An example of valid supporting evidence may be a technical building energy assessment report for an asset from the portfolio performed during the reporting period or no more than four years ago. Ideally, the document includes specifications on the following elements:
    • Asset characteristics and project description
    • Building envelope (insulation, fenestration)
    • Heating and cooling system
    • Ventilation system
    • Service water heating system
    • Automatic controls
    • Lighting system
    • Process loads
    • Energy saving recommendations
  2. Water efficiency, waste management, health & well-being: a) the performance of applicable technical building assessments for water, waste and/or health & well-being, b) the scope of the water, waste and/ or health and well-being assessment. An example of a valid supporting evidence may be a technical building assessment report for an asset from the portfolio performed during the reporting period or no more than four years ago.

Reporting period: Answers must refer to the reporting period identified in EC3, and the three years prior.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded based on (1) the selected assessment options, (2) the percentage portfolio covered for each assessment type and (3) the party who carried out the assessment(s) (in-house or external).

Energy has a maximum 2 points available, 1.5 for water, 0.5 for waste and 0.5 for health & well-being.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

SASB-Real Estate Owners, Developers & Investment Trusts (March 2016): IF0402-05

Recommendations of the Task Force on Climate-Related Financial Disclosures June 2017: Strategy A&B

3 points , IM, E

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 16.1

Intent

The intent of this indicator is to improve environmental performance within a portfolio, focusing on opportunities to increase the energy efficiency of assets.

This indicator examines measures (or projects) undertaken to reduce the portfolio’s energy consumption. Usually, the implementation of these measures is the result of technical building assessments, which are focused on investigating the energy use and requirements of the building based on its characteristics and installed equipment.

Terminology

Building automation system upgrades/replacements: Refers to the computer-based centralized system installed in buildings that controls and monitors equipment such as ventilation, airconditioning, heating, lighting, alarms and communications.

Upgrades and replacements refers to the process of ensuring the building automation system is operating at full capacity, as to achieve optimal management of systems and increase energy efficiency.

Building energy management systems: Energy management software solutions, which include functionality to forecast and adjust energy demand in a building.

Installation of high-efficient equipment and electrical appliances: Specification and purchase of electrical equipment and appliances that minimize the building‘s energy needs. This includes, but it is not limited to: energy efficient lighting upgrades/replacements and HVAC system upgrades/replacements.

Installation of on-site renewable energy: Renewable energy produced on-site, to meet some or all of the building’s energy requirements.

Measure: The actual project or activity undertaken/implemented to improve energy efficiency as part of the selected category.

Occupier engagement/informational technologies: Communication and information technologies implemented to inform and engage with tenants in regards to their energy use.

Smart grid/smart building technologies: Computer-based control and automation of electricity network systems, to support and manage electricity demand in a sustainable, integrated manner.

System commissioning: The process of ensuring that systems are designed, installed, and functionally tested, and that they are capable of being operated and maintained to perform optimally.

Requirements

Select energy-efficiency categories and specify the measure(s) implemented in the portfolio. Either select from the list or select “other.” It is possible to select a category more than once.

Other: State the other energy-efficiency measure.

It is possible to report multiple other answers.

Describe the selected measure: The description should briefly explain the measure implemented and preferably include payback period, property type and scope of the project. Participants should clarify the possible link(s) to the entity's’ objectives (MA1) and targets (PI5). The project to implement the measure can be ongoing at the time you submit your GRESB Assessment.

Percentage of portfolio covered during the last four years: The percentage of the entity’s portfolio for which the selected energy efficiency measure has been implemented during the last four years, including the reporting year. This represents the activity within the portfolio in which energy efficiency measures have been implemented.

Percentage of whole portfolio covered: The percentage of the entity’s portfolio for which the selected energy efficiency measure has been implemented either (1) during and prior to the last four years, and/or (2) as part of the design and development of a new asset regardless of timing, where the asset was developed by the reporting entity itself or acquired. The percentage whole portfolio covered shows the past focus on energy efficiency measures, and as such provides the energy efficiency improvement potential for the remaining part of the entity’s portfolio.

Estimated savings and target ROI: Estimated savings and target ROIs are for reporting purposes only. Participants can use these fields to demonstrate the business case for implementing an efficiency measure. The “Estimated savings” and “Target ROI” fields are not mandatory. If the project is ongoing or is implemented in phases, include the estimated savings and target ROI of the whole project.

Reporting period: Answers must refer to the reporting period identified in EC3, and the three years prior.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded based on (1) validity of the reported measure(s), (2) the description of the measure and (3) the portfolio coverage of the measure (during the last four years).

Each measure can earn a maximum of 1.5 points, depending on the portfolio coverage during the last four years.

It is not required to select all categories in order to receive the maximum score for this indicator.

References

ISO 50001:2011 Energy Management Systems

LEED BD+C: Core and Shell, v4, Optimize Energy Performance LEED O+M: Existing Buildings, v4, Alternative Transportation

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 7.9, Narrative on performance

SASB-Real Estate Owners, Developers & Investment Trusts (March 2016): IF0402-05

Recommendations of the Task Force on Climate-Related Financial Disclosures June 2017: Strategy A&B

2.5 points , IM, E

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 16.1

Intent

This indicator intends to review the steps taken by the entity to reduce water consumption across the portfolio.

Along with energy performance, water consumption is a key indicator of environmental sustainability performance in real estate portfolios.

Terminology

Cooling tower water management: A cooling tower is a heat rejection device which extracts waste heat to the atmosphere through the cooling of a water stream to a lower temperature. Reduction of potable water consumption for cooling towers (or evaporative condenser equipment) can be achieved through effective water management, including conducting a water analysis to measure the concentration of at least five control parameters in order to optimize the cooling tower cycles and/or use of non-potable makeup water for a minimum of 20% of the makeup water.

Drip/smart irrigation: Drip irrigation systems save water by irrigating, fertilizing and aerating trees, shrubs, plants and bushes directly at the roots. Smart irrigation systems save water by adjusting the watering schedule and amount of water used for irrigation based on a variety of factors and inputs, including weather, plant species and soil type.

Drought tolerant/native landscaping: Adapted or indigenous vegetation that has evolved to the geography, hydrology and climate of a region requiring minimal or no supplemental watering beyond natural rainfall.

Dry fixtures: Fixtures that do not require the use of water, such as composting toilet systems and waterless urinals.

Grey water: Wastewater generated from hand basins, showers and other water-using devices and equipment.

High-efficiency fixtures: Appliances and plumbing equipment that conserve water without compromising performance (also known as “ultra-low-flow” fixtures).

Leak detection system: Systems that detect water leaks. Examples can include, but are not limited to: condensate water overflow, chiller water leaks, plumbing line cracks, heating/cooling piping leaks and outside seepage.

Measure: The actual project or activity undertaken/implemented to improve energy efficiency as part of the selected category.

Metering of water subsystems: Installing sub-meters to measure the water consumption of applicable subsystems, such as irrigation, indoor plumbing fixtures, domestic hot water, reclaimed water or other process water uses, which supports effective water management and identifying opportunities for additional water savings.

On-site wastewater treatment: Process of water decontamination as a consequence of any anthropogenic, industrial or commercial use, before the water is released again into the environment or is re-used.

Stormwater: Water that collects during precipitation, which can be stored on-site for eventual reuse for non-potable applications. Examples can include, but are not limited to: landscape irrigation and/or flush fixtures.

Requirements

Select water-efficiency categories and specify the measure(s) implemented in the portfolio. Either select from the list or select “other.” It is possible to select a category more than once.

Other: State the other water-efficiency measure.

It is possible to report multiple other answers.

Describe the selected measure: The description should briefly explain the measure implemented and preferably include payback period, property type and scope of the project. Participants should clarify the possible link(s) to the entity's’ objectives (MA1) and targets (PI5). The project to implement the measure can be ongoing at the time you submit your GRESB Assessment.

Percentage of portfolio covered during the last four years: The percentage of the entity’s portfolio for which the selected water efficiency measure has been implemented during the last four years, including the reporting year. This represents the activity within the portfolio in which water efficiency measures have been implemented.

Percentage of whole portfolio covered: The percentage of the entity’s portfolio for which the selected water efficiency measure has been implemented either (1) during and prior to the last four years, and/or (2) as part of the design and development of a new asset regardless of timing, where the asset was developed by the reporting entity itself or acquired. The percentage whole portfolio covered shows the past focus on water efficiency measures, and as such provides the water efficiency improvement potential for the remaining part of the entity’s portfolio.

Estimated savings and target ROI: Estimated savings and target ROIs are for reporting purposes only. Participants can use these fields to demonstrate the business case for implementing an efficiency measure. The “Estimated savings” and “Target ROI” fields are not mandatory. If the project is ongoing or is implemented in phases, include the estimated savings and target ROI of the whole project.

Reporting period: Answers must refer to the reporting period identified in EC3, and the three years prior.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded based on (1) validity of the reported measure(s), (2) the description of the measure and (3) the portfolio coverage of the measure (during the last four years).

Each measure can earn a maximum of 1.25 points, depending on the portfolio coverage during the last four years.

It is not required to select all categories in order to receive the maximum score for this indicator.

References

LEED BD+C: Core and Shell; and LEED O+M: Existing Buildings, v4, Water Efficiency, Indoor water use reduction

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 7.9, Narrative on performance

SASB-Real Estate Owners, Developers & Investment Trusts (March 2016): IF0402-09

Recommendations of the Task Force on Climate-Related Financial Disclosures June 2017: Strategy A&B

1 point , IM, E

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 16.1

Intent

This indicator intends to review the steps undertaken by the entity to reduce its waste production/generation, and to obtain a better optimize disposal methods. Along with energy performance and water consumption, waste management is a key indicator of environmental sustainability performance across real estate portfolios.

Terminology

Composting landscape and/or food waste: Composting is the controlled decomposition of organic material which produces useful soil amendment products. Engage in landscape and/or food waste composting either on-site or by contracting with a composting service provider.

Recycling program: A program for materials that can be locally recycled and contracted with a recycling service provider. Provide appropriately sized recycling collection and storage areas within the entity’s real estate holdings to enable occupants to sort, collect and divert materials from landfill.

Measure: The actual project or activity undertaken/implemented to improve energy efficiency as part of the selected category.

Solid waste management: Hazardous and non-hazardous waste including reuse, recycling, composting, recovery, incineration, landfill, and on-site storage.

Ongoing waste performance monitoring: Track and measure ongoing waste volumes generated on a minimum quarterly basis, by either weight or volume, to help identify diversion and recycling opportunities within the organization. Conduct a minimum annual review to evaluate performance.

Waste stream audit: A formal process used to quantify the type and amount of waste being generated, by weight or volume, to help identify effective waste reduction, separation and recycling opportunities.

Requirements

Select waste management categories and specify the measure(s) implemented in the portfolio. Either select from the list or select “other.” It is possible to select a category more than once.

Other: State the other waste management measure.

It is possible to report multiple other answers.

Describe the selected measure: The description should briefly explain the measure implemented and preferably include payback period, property type and scope of the project. Participants should clarify the possible link(s) to the entity's’ objectives (MA1) and targets (PI5). The project to implement the measure can be ongoing at the time you submit your GRESB Assessment.

Percentage of portfolio covered during the last four years: The percentage of the entity’s portfolio for which the selected waste management measure has been implemented during the last four years, including the reporting year. This represents the activity within the portfolio in which waste management measures have been implemented.

Percentage of whole portfolio covered: The percentage of the entity’s portfolio for which the selected waste management measure has been implemented either (1) during and prior to the last four years, and/or (2) as part of the design and development of a new asset regardless of timing, where the asset was developed by the reporting entity itself or acquired. The percentage whole portfolio covered shows the past focus on waste management measures, and as such provides the waste management improvement potential for the remaining part of the entity’s portfolio.

Estimated savings and target ROI: Estimated savings and target ROIs are for reporting purposes only. Participants can use these fields to demonstrate the business case for implementing an efficiency measure. The “Estimated savings” and “Target ROI” fields are not mandatory. If the project is ongoing or is implemented in phases, include the estimated savings and target ROI of the whole project.

Reporting period: Answers must refer to the reporting period identified in EC3, and the three years prior.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded based on (1) validity of the reported measure(s), (2) the description of the measure and (3) the portfolio coverage of the measure (during the last four years).

Each measure can earn a maximum of 0.5 points, depending on the portfolio coverage during the last four years.

It is not required to select all categories in order to receive the maximum score for this indicator.

References

LEED BD+C: Core and Shell; and LEED O+M: Existing Buildings, v4, Materials and resources

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 7.9, Narrative on performance

Recommendations of the Task Force on Climate-Related Financial Disclosures June 2017: Strategy A&B

Monitoring & EMS

Real estate consumes significant amounts of energy and water, produces waste streams and generates GHG emissions, all of which have substantial environmental impact. Measuring and monitoring of consumption and generation is an important basis for reducing impact and improving environmental performance of buildings. This Aspect describes the processes the entity uses to support ESG implementation and performance monitoring.

Environmental Management Systems

2017 Indicator

3 points , MP, G

Intent

The intent of this indicator is to assess the entity’s use of a systematic process to manage environmental impacts, risks and opportunities.

An Environmental Management System (EMS) is an internal framework that structures all procedures, projects and tactics into a cohesive program which aligns the sustainability efforts at entity or organization level. An EMS can assist organizations in managing and improving their environmental performance, complying with environmental laws and regulations, identifying financial savings through more efficient operating practices, and improving the standing of the business with staff, client companies, partner organizations and other stakeholders.

Use of an aligned or certified EMS framework provides assurance to both the business and external stakeholders that environmental impacts are measured and acted upon using a recognized and proven methodology. Periodic reviews of the EMS ensure its continuing suitability and effectiveness for the organization.

Terminology

Alignment: To agree and match with a recognized sustainability standard (either voluntary or mandatory).

Certified: Third-party recognition of meeting the requirements of a recognized standard.

Environmental Management System (EMS): A framework for managing an organization’s environmental impact based on its sustainability and related objectives. An EMS provides a practical framework for the assessment of environmental impacts, establishment of impact reduction targets, and the development of plans to achieve targeted reductions. An EMS enables an organization to take a structured approach to planning and implementing environmental protection measures.

An effective EMS is analogous to a financial management system that monitors expenditure and income to support analysis of financial performance. An EMS can cover a wide range of environmental topics, including, but not limited to: energy, GHG emissions, water, waste, transportation, climate change, resilience, risks, and materials. It can also refer to a wide variety of internal procedures, targets, persons responsible for implementing these procedures and working towards achieving the organization’s objectives. In summary, an EMS is used to formalize the strategic approach of the organization towards sustainability. It outlines the structure used to monitor and manage environmental topics.

An important distinction needs to be made between an EMS and an EnMS. Unlike an EMS, an EnMS (Energy Management System) only covers energy, energy efficiency and conservation, energy management and performance. The most commonly used standard for implementing an EnMS is ISO 50001. An EnMS does not qualify as a valid answer for the purposes of this indicator.

ISO 14001 Alignment: ISO 14001 defines a complete EMS to include four stages:

  1. Plan
    • Define the scope of the organization’s environmental policy (the most important areas of impact and relationship with primary stakeholders)
    • Define and maintain environmental objectives and targets (short-term and long-term)
    • Define the materiality matrix, based on priority sustainability issues
    • Identify relevant legal requirements and environmental legislation
    • Define emergency procedures
  2. Do
    • Ensure the implementation of the action plan established in stage one and the maintenance of the systems in place
    • Assign responsibility for the overall development and maintenance of the system
    • Offer training and/or support to the people in charge to ensure conformity with the policy
  3. Check
    • Establish appropriate communication channels with the people in charge
    • Monitor and document progress
    • Ensure compliance with applicable legal requirements
    • Identify and correct non-conformity
  4. Act
    • Schedule periodic management reviews on results and next steps
    • Evaluate performance against targets
    • Determine corrective and preventative actions
    • Provide feedback and suggestions for improvement
    • Prepare and/or update procedures and supporting documentation

The process above provides an example of an EMS outline with the stages and elements included. The EMS, and therefore the supporting evidence, does not necessarily have to be structured according the ISO recommendations, nor does it have to include all suggested elements for each stage. While adherence to ISO 14001 is not required, the reported EMS must support the purpose identified in ISO 14001 and provide comparable functionality.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Complete the additional information requested, and provide supporting evidence.

Aligned: Report the recognized standard used for the alignment of the EMS.

Externally certified: Provide the name of the organization responsible for certifying the EMS using a recognized standard, as well as the name of the recognized standard applied.

GRESB requires certification to be undertaken by a third party and not by the participant. EMS certification may only be obtained for one (or more) of the main standards/schemes, for example ISO14001.

Note that aligning or certifying individual sections of the EMS does not comply with the requirements of this indicator and does not constitute a valid answer.

Evidence: Document upload is mandatory for this indicator. The evidence should sufficiently support all the items selected for this question.

To qualify as valid, the evidence provided must include:

  1. A high level outline or diagram of the implemented EMS.
  2. The applicability of the EMS at the entity level.
  3. The stages, elements and or processes currently covered by the EMS.
  4. Evidence of implementation of the EMS into the entity or organization’s operations.

A fully accepted evidence must cover at least one elements from each of the four Plan - Do - Act - Check stages.

Energy Management Systems (EnMS): An EnMS only covers energy issues and is not considered an EMS, and as such not accepted as evidence for this indicator.

If the EMS is aligned with a standard, the evidence must include the name the standard used for alignment and define the degree of alignment with the standard. Elements of the EMS that align with the standard can be summarized, called out, highlighted, or shown in a diagram.

If the EMS is externally certified by and independent third party, the evidence should include signed proof of the certification according to the standard, which must be named within the evidence, as well as contact information of the independent third party involved and the date of the most recent certification.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity and/or organization level.

Scoring

Points are awarded based on (1) the existence of an EMS, (2) alignment or external certification with valid name of the organization that certified the EMS, if applicable. Points are contingent upon validity of the supporting evidence.

Full points will be awarded only if the evidence covers at least one element from each of the four stages outlined above, or is considered to comprehensively cover comparable stages, with proof of implementation.

References

LEED BD+C: Core and Shell, v4, Sustainable Sites; Water efficiency; Energy & Atmosphere; Material & resources; and Indoor Environmental Quality BREEAM In-Use International, Asset Performance; and Building Management

ISO 14001:2015 Environmental management systems – Requirements with guidance for use

ISO 14004:2015 Environmental management systems – general guidelines on principles, systems and support techniques

Data Management Systems

2017 Indicator

4 points , IM, E

Intent

The intent of this indicator is to describe the scope of the entity’s activities to apply information technology to collect and analyze ESG performance indicators.

Monitoring performance data (energy and water consumption, GHG emissions and waste) is an important part of managing sustainability issues. Data management systems enable organizations to monitor performance in an efficient and effective way, for example, by integrating building management systems for individual locations across the portfolio.

Terminology

Building safety: Environmental issues with the potential to create or exacerbate risks to human safety, such as structural failure.

Data management system: A software system that enables an organization to collect, monitor and analyze performance data (energy, GHG emissions, water, waste, building certifications and ratings, etc.) across individual buildings in the portfolio, and to benchmark building performance within or outside the portfolio, or against industry standards. A data management system improves data quality and provides organizations with the tools to identify opportunities for improvement, and to identify and monitor consumption efficiency measures.

A data management system may be part of an EMS; however, it has a distinct structure and function. A data management system is primarily focused on quantitative information and works as a centralized data collection and analysis tool.

Energy consumption: Fuel consumption from renewable and non-renewable energy sources.

Environmental risks: Impact on living and non-living natural systems, including land, air, water and ecosystems. This includes, but is not limited to biodiversity, transport and product and servicerelated impacts, as well as environmental compliance and expenditures.

GHG emissions/management: GHG management refers to the management of GHG emissions. GHGs refers to the seven gases listed in the GHG Protocol Corporate Standard: carbon dioxide (CO2); methane (CH4); nitrous oxide (N2O); hydrofluorocarbons (HFCs); perfluorocarbons (PFCs); nitrogen trifluoride (NF3) and sulphur hexafluoride (SF6).

Indoor environmental quality: Refers to the conditions inside the building. It includes air quality, access to daylight and views, pleasant acoustic conditions and occupant control over lighting and thermal comfort. It may also include the functional aspects of space such as whether the layout provides easy access to tools and people when needed, and whether there is sufficient space for occupants.

Resilience: Preparedness of the built environment towards existing and future climate changes (i.e., the ability to absorb disturbances such as increased precipitation or flooding while maintaining its structure). This can be achieved by management policies, informational technologies, educating tenant, community, suppliers and physical measures at the asset level.

Water: Examples may include, but are not limited to: water consumption, water supply characteristics, and wastewater/effluent.

Waste streams/management: Examples may include, but are not limited to: waste generation by stream and diversion rates.

Requirements

Select yes or no. If yes, also select how the system was developed and complete the percentage of the portfolio covered by the system for each aspect.

Other: State the name of the other performance indicator included in the data management system.

Percentage of portfolio covered: The percentages should reflect the proportion of the whole portfolio floor area that is covered by the data management system. Coverage is calculated based on floor area, with the denominator being the floor area of the whole portfolio. If the floor area covered changed during the reporting period (for example because of a change in the number of assets) use the floor area percentage applicable at the end of the reporting period. Select one of the four categories provided in the dropdown menu.

Name of the organization: Provide the full name of the organization. You may be asked for additional information about the organization(s). It is possible to report on multiple organizations.

Name of the system: If the organization is using a external system, the name of the system must be provided. The name of the external system will be checked during validation.

Evidence: Document upload is mandatory for this indicator. The evidence should sufficiently support all the items selected for this question.

Evidence must support all components applicable including:

  1. The existence of the data management system;
  2. The scope of the data management system (the performance indicators included);
  3. The type of system(s).

Examples of anticipated evidence may include but are not limited to: system screenshots, project implementation documentation, system maps, data flow diagrams and/or signed letters of verification from a third party.

If you use more than one data management system to track different elements, report on the total percentage of portfolio covered per applicable performance indicator (by one or more data management systems) In this case, the supporting evidence should include evidence for each system used and included in reporting.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity and/or organization level.

Scoring

Points are awarded based on (1) the type of system, and (2) selected performance indicators. Percentage of portfolio coverage is used for reporting purpose only and will not be scored.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

Monitoring Consumption

2017 Indicator

3 points , IM, E

Intent

Organizations use a variety of methods to monitor energy consumption. This indicator is intended to identify which data collection methods are used and for which fraction of the portfolio. The nature of monitoring is an indicator of the availability of data to support the achievement of sustainability targets and goals.

Terminology

Automatic meter readings: Meter readings taken automatically at predefined frequencies by building management systems or smart metering systems.

Based on invoices: Consumption monitoring based on invoices provided by the utility provider.

Manual-visual readings: Consumption monitoring based on physical reading of meters.

Provided by the tenant: The tenant purchases energy and provides the landlord with information on consumption data.

Requirements

Select yes, no or not applicable. If yes, also (1) select all applicable sub-options and (2) complete the percentages by floor area for the whole portfolio.

Overlap of monitoring methods: If multiple monitoring methods are used to monitor the energy consumption of a space, participants are required to report on the corresponding floor area only once, using the most robust monitoring method, according the following order: automatic meter readings, invoices, other options.

Percentage portfolio coverage: Percentages should represent the proportion of the whole portfolio floor area that is monitored. Coverage is calculated based on floor area, with the denominator being the floor area of the whole portfolio, and the numerator being the floor area for which data is monitored and available. If the floor area covered changed during the reporting period (for example because of a change in the number of assets) use the floor area percentage applicable at the end of the reporting period.

Note: The sum of percentages of the whole portfolio covered by each monitoring type should equal the percentage of whole portfolio covered by floor area.

Other: State the type of the other monitoring method use to monitor energy consumption.

It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded based on the selected monitoring types and their corresponding portfolio coverage percentages. The percentage of portfolio covered by each type of monitoring is scored, while the percentage of whole portfolio covered by floor area is not scored but for reporting purposes only.

Examples

In a 50,000 m2 industrial portfolio, just 30,000 m2 has energy supply. The reporting entity/landlord only receives the invoices for the common areas (2,000 m2), and receives the data from a selection of tenants (18,000 m2).

Percentage of whole portfolio covered by floor area: (2,000+18,000)/30,000 = 66.7%

Based on invoices: Percentage of the whole portfolio covered by floor area: 2,000/30,000 = 6.7%

Provided by the tenant: Percentage of the whole portfolio covered by floor area: 18,000/ 30,000 = 60%

References

LEED BD+C: Core and Shell, v4, Building-level Energy Metering; and Advanced Energy Metering

GRI Sustainability Reporting (2016): 302-1 Energy consumption within the organization; 302-2, Energy consumption outside the organization

RobecoSAM Corporate Sustainability Assessment 2017: 4.2.4, Energy

2 points , IM, E

Intent

Organizations use a variety of methods to monitor water consumption. This indicator is intended to identify which data collection methods are used and for which fraction of the portfolio. The nature of monitoring is an indicator of the availability of data to support the achievement of sustainability targets and goals.

Terminology

Automatic meter readings: Meter readings taken automatically at predefined frequencies by building management systems or smart metering systems.

Based on invoices: Consumption monitoring based on invoices provided by the utility provider.

Manual-visual readings: Consumption monitoring based on physical reading of meters.

Provided by the tenant: The tenant purchases energy and provides the landlord with information on consumption data.

Requirements

Select yes, no or not applicable. If yes, also (1) select all applicable sub-options and (2) complete the percentages by floor area for the whole portfolio.

Overlap of monitoring methods: If multiple monitoring methods are used to monitor the water consumption of a space, participants are required to report on the corresponding floor area only once, using the most robust monitoring method, according the following order: automatic meter readings, invoices, other options.

Percentage portfolio coverage: Percentages should represent the proportion of the whole portfolio floor area that is monitored. Coverage is calculated based on floor area, with the denominator being the floor area of the whole portfolio, and the numerator being the floor area for which data is monitored and available. If the floor area covered changed during the reporting period (for example because of a change in the number of assets) use the floor area percentage applicable at the end of the reporting period.

Note: The sum of percentages of the whole portfolio covered by each monitoring type should equal the percentage of whole portfolio covered by floor area.

Other: State the type of the other monitoring method use to monitor water consumption.

It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded based on the selected monitoring types and their corresponding portfolio coverage percentages. The percentage of portfolio covered by each type of monitoring is scored, while the percentage of whole portfolio covered by floor area is not scored but for reporting purposes only.

Examples

In a 50,000 m2 industrial portfolio, just 30,000 m2 has water supply. The reporting entity/landlord only receives the invoices for the common areas (2,000 m2), and receives the data from a selection of tenants (18,000 m2).

Percentage of whole portfolio covered by floor area: (2,000+18,000)/30,000 = 66.7%

Base on invoices: Percentage of the whole portfolio covered by floor area: 2,000/30,000 = 6.7%

Provided by the tenant: Percentage of the whole portfolio covered by floor area: 18,000/ 30,000 = 60%

References

LEED BD+C: Core and Shell, v4, Building-level Water Metering; and Water

RobecoSAM Corporate Sustainability Assessment 2017: 4.2.7, Water

Not scored , IM, E

Intent

Organizations use a variety of methods to monitor their waste production and diversion rates. This indicator is intended to identify which data collection methods are used and for which fraction of the portfolio. The nature of monitoring is an indicator of the availability of data to support the achievement of waste reduction and diversion targets.

Terminology

Internal tracking: Internally developed waste monitoring methods (scales, sensors, etc.).

Provided by the hauler: Data directly provided to the entity from the waste hauling company.

Provided by the tenant: The tenant purchases energy and provides the landlord with information on consumption data.

Requirements

Select yes, no or not applicable. If yes, also (1) select all applicable sub-options and (2) complete the percentages by floor area for the whole portfolio.

Overlap of monitoring methods: If multiple monitoring methods are used to monitor the waste production of a space, participants are required to report on the corresponding floor area only once, using the most robust monitoring method.

Percentage portfolio coverage: Percentages should represent the proportion of the whole portfolio floor area that is monitored. Coverage is calculated based on floor area, with the denominator being the floor area of the whole portfolio, and the numerator being the floor area for which data is monitored and available. If the floor area covered changed during the reporting period (for example because of a change in the number of assets) use the floor area percentage applicable at the end of the reporting period.

Note: The sum of percentages of the whole portfolio covered by each monitoring type should equal the percentage of whole portfolio covered by floor area.

Open text box: In 2018, participants may calculate the portfolio coverage using their own methodology (i.e., by floor area, number of assets, etc.), but it is mandatory to use the open text box to explain the methodology used, including:

  • The calculation methodology, including the unit of measurement/applied denominator
  • Description of limitations, assumptions made in the calculation

Other: State the type of the other monitoring method use to monitor waste production.

It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

This indicator is not scored and is used for reporting purposes only.

References

RobecoSAM Corporate Sustainability Assessment 2017: 4.2.5, Waste

GRI Sustainability Reporting (2016): 306-2, Waste by type and disposal method

Performance Indicators

The Performance Indicators Aspect of the GRESB Real Estate Assessment collects performance data on energy and water consumption, GHG emissions and waste. Participants can report either portfolio-level data or asset-level data.

PI1.1, PI2.1 and PI3.1: Floor area type is identified in RC5.1

The Floor area type used for reporting is identified in RC5.1 and should be used consistently throughout the Assessment.

PI1.1, PI2.1 and PI3.1: Like-for-Like Floor Area field

The 2018 Assessment introduces a new field for Like-for-Like Data Coverage PI1.1, PI2.1 and PI3.1. The like-for-like portfolio should only include areas for which comparable consumption data is available for 2016 and 2017. E.g., this should not include any assets that were acquired or disposed during these reporting years, nor include areas for which data coverage increased or decreased.

This new like-for-like floor area field was added as it enables GRESB Investor Members to understand what proportion of their portfolio like-for-like consumption reductions are based on. The change permits GRESB to calculate intensity metrics, which facilitates the identification of additional outliers.

PI2.1: New GHG Emissions Reporting Classification and Scope 3 Included in Scoring

A new GHG emissions classification system for PI2.1 is introduced for the 2018 Assessment. Participants are required to indicate if their Scope 2 emissions have been calculated using a location or market-based method.

Participants also need to clarify whether the GHG Emissions inventory reporting boundary was established using an equity share, operational control, or financial control approach. In the equity share and financial control approach GHG emissions are reported upon by economic interest. Operational control is defined as the ability to introduce and implement operating policies.

These components were added to improve upon the comparability of GHG Emissions between entities. It also facilitates better investor carbon footprinting. More guidance is available in the requirements section of PI2.0 and PI2.1.

In addition, the 2018 Assessment will include the data coverage of Scope 3 emissions in scoring and benchmarking. Scope 3 emissions should be calculated as the emissions associated with tenant controlled areas/electricity purchased by the tenant and indirectly managed assets if these have not been reported upon already in Scope 1 and Scope 2 emissions. Note that if tenant emissions data is not available, data coverage for these areas should be 0, while the maximum data coverage should correspond to the tenant areas generating the emissions.

Support with asset-level data collection

GRESB has developed a number of tools to assist participants with the collection and aggregation of asset-level data that is required to complete certain aspects of the Assessment. Property companies and funds are encouraged to use the asset level tools to streamline data flows, and to increase data quality. The asset-level data provided to GRESB is strictly confidential and will only be used for aggregation to portfolio level. No asset level information will be disclosed to participants’ investors.

GRESB provides multiple tools to facilitate a smooth asset-level reporting process, including GRESB Asset Spreadsheet and Automated Data Feed (ADF) via Real Estate Data Partners.

More information on asset-level reporting can be found in our Asset Portal Guide.

Before you start with the Performance Indicators Aspect, note that:

Energy Consumption Data

2017 Indicator

Not scored

Requirements

Indicate whether the energy consumption data of this property type in PI1.1 is reported at the asset level.

Make sure you insert data in the correct section of the table, check the definition of 'Managed assets' and 'Indirectly Managed assets'. Only use Whole Building if no break-down of data is possible between Base uilding and Tenant Space.

Additionally, if consumption cannot be separated between Common Areas and Shared Services/Central Plant, provide both in Shared Services/Central Plant.

Terminology

Common area: Areas shared with other building occupants, including, but not limited to: entrance areas, corridors, lifts, staircases, waste storage stores, communal kitchen and breakout facilities.

Tenant space: Lettable floor area (both vacant and let/leased areas) that is or can be occupied by tenants.

Purchased by landlord: Energy purchased by the landlord, but consumed by the tenant. This can include energy purchased by the landlord but used for vacant space.

Purchased by tenant: Energy purchased by the tenant. Typically this is data that is not within the participant's immediate control, but GRESB encourages efforts to collect it.

Whole building: Energy used by tenants and base building services to lettable/leasable and common spaces. This should include all energy supplied to the building for the operation of the building and the tenant space. For reporting to GRESB, use this section to report consumption data in the case no separate data for Common areas and Tenant space is available.

Managed asset: This definition of Managed assets and the definition of Indirectly Managed assets are solely based on the landlord/tenant relationship. Assets or buildings for which the landlord is determined to have 'operational control' where operational control is defined as having the ability to introduce and implement operating and/or environmental policies and measures. In case both the landlord and tenant have the authority to introduce and implement any or all of the policies mentioned above, the asset or building should be reported as a Managed asset. Where a single tenant has the sole authority to introduce and implement operating and/or environmental policies and measures, the tenant should be assumed to have operational control, so it should be considered to be an Indirectly Managed asset.

Indirectly managed assets: This definition and the definition of Managed assets are solely based on the landlord/tenant relationship. Assets or buildings for which the tenant is determined to have 'operational control' where operational control is defined as having the ability to introduce and implement operating and/ or environmental policies and measures. In case both the landlord and tenant have the authority to introduce and implement any or all of the policies and measures mentioned above, the asset or building should be reported as a Managed asset. Where a single tenant has the sole authority to introduce and implement operating and/or environmental policies and measures, the tenant should be assumed to have operational control, so it should be considered to be an Indirectly Managed asset.

12 points , IM, E

Intent

Energy consumption and the corresponding cost represent a significant financial outlay and accounts for a large share of a building’s environmental footprint. Data measurement and consistent reporting of energy consumption help organizations to increase the energy efficiency of their portfolio, thus reducing economic and environmental impacts associated with fossil fuel energy use.

Absolute Consumption (MWh, m3) data is requested for reporting purposes only, and the quantity of use is therefore not scored. However, outlier checks are performed to ensure data quality (see the Introduction section for more information on the identification and elimination of outliers). Investors use this data to calculate the total energy consumption for their real estate investments. Data Coverage for Managed and Indirectly Managed assets, as well as for Base building, Tenant space and Whole building, is scored, as this reflects the efforts taken to measure and monitor consumption data.

GRESB calculates Like-for-Like Change, used for scoring purposes, based on the data submitted for 2016 and 2017 by property type for both Managed and Indirectly Managed assets.

Terminology

See definitions in Appendix 2a.

Requirements

Complete the applicable rows and fields in the table for that property type, based on whole portfolio data (including both Managed and Indirectly Managed assets).

1. For Managed Assets, determine if consumption data is collected for a combination of Base Building AND Tenant space, OR Whole building.

Combination of Base building and Tenant space

  • Base building: Energy is supplied by central building services to common areas and possibly to lettable/leasable areas.
  • Tenant space: The lettable floor area, both the vacant and let/leased areas

Whole Building

  • Whole building: Energy is used by tenants and base building services in both lettable/leasable and common spaces, but is not available or metered separately. This should include all energy supplied to the building. Use this section to report consumption data when separate data for Common areas and Tenant space is not available.

1.1. For data collected at Base building level, allocate consumption data to the Common areas, Shared Service/Central Plant or Outdoor/Exterior areas/Parking.

Common Areas (row 1-3): Areas shared with other building occupants, including entrance areas, corridors, lifts, staircases,waste storage stores, communal kitchen, breakout facilities, etc.

Shared Service/Central Plant (row 4-6): Shared Services/Central Plant is a central source providing energy for the whole building, including common areas and shared services for tenants. If consumption cannot be separated between common areas and shared services, provide both here.

Outdoor/Exterior Areas/Parking (row 7-8): If energy consumption includes Outdoor/Exterior Areas/Parking and is measured separately, submit the data in Outdoor/Exterior Areas/Parking (rows 7-8). Otherwise it can simply be included in Base Building (or Whole Building).

1.2. For data collected at Tenant space level, determine if the data is Purchased by the landlord and/or Purchased by the tenant.

Purchased by landlord (row 10-12): The landlord holds the energy contract with a utility company. Energy is provided to and paid for by the tenant via service charges. This can include energy purchased by the landlord but used for vacant space.

Purchased by tenant (row 13-15): The tenant holds the energy contract with a utility company. Energy is therefore directly purchased by the tenant. Typically this is data that is not within the participant’s immediate control, although GRESB encourages efforts to collect it.

Note: If the participant is not able to collect the consumption data at the tenant areas, the Data Coverage should be 0 m2/ft2 and the Maximum Potential Coverage should reflect the total tenant floor area where the energy is consumed.

2. For Indirectly Managed Assets, allocate consumption data to Tenant space and/or Outdoor/Exterior areas/Parking.

Tenant space (row 22-24): The definition is solely based on the landlord/tenant relationship. For Indirectly Managed Assets or buildings, the single tenant is determined to have ‘operational control,’ where energy is taken care of fully by the tenants.

Outdoor/Exterior areas/Parking (row 25-26): If energy consumption includes Outdoor/Exterior Areas/Parking and is measured separately, submit the data in Outdoor/Exterior Areas/Parking (rows 25-26).

Note: If the participant is not able to collect the consumption data at the tenant areas, the Data Coverage should be 0 m2/ft2 and the Maximum Potential Coverage should reflect the total tenant floor area where the energy source is consumed.

3. Complete the applicable rows with Absolute and Like-for-Like consumption data, based on whole portfolio data for each property type.

Absolute Consumption: All available energy consumption data (in MWh) for both 2016 and 2017 should be included and completed in the applicable fields (column A and B). Make sure to complete the rows determined in the previous steps.

  • Estimates: When landlord-obtained annual consumption data for a particular energy source is partially unavailable or unreliable for an asset, estimations may be necessary. Estimation allows completed annual data to be calculated for an asset where data is partially missing or unreliable. GRESB allows participants to use estimated data when reporting on energy consumption if this is aligned with one of the predefined methodologies (see Appendix 2c) and not used as a substitute to gather complete and accurate data.

Site or Source energy: Site energy data should be submitted in all applicable data fields. Energy data does not have to be converted back to Source energy data.

The Data Coverage and Maximum Potential Coverage are based on absolute consumption data submitted.

Like-for-Like Consumption: Energy consumption data reported on a like-for-like comparison (in MWh) should exclude assets which have been acquired, disposed, under development or have been largely refurbished over the past 24 months. This data is used to calculate Like-for-Like Change, which is the change in energy consumption for the part of the of the portfolio that has remained same year-over-year and/or for which comparable consumption data has been available for both years. All applicable energy consumption data for both 2016 and 2017 should be included and completed in the appropriate fields (column E, F and G). Make sure to complete the rows determined in the previous steps.

4. Complete Data Coverage for Absolute Consumption and report Maximum Potential Coverage of the portfolio for this property type.

Data Coverage calculations: GRESB calculates Data Coverage based on floor area for which consumption data is available (column C: Data Coverage) and on the total floor area for which consumption data could have been collected, which is the total supply area (column D: Maximum Potential Coverage). Data Coverage is calculated separately for Base Building, Tenant Space and Whole Building data within Managed assets as well as for Tenant space/building within Indirectly Managed assets.

  • Data Coverage: The part of the portfolio for which data is available, per space and fuel type, as determined in the previous steps. The floor area reported in these fields (column C) should reflect the floor area of the asset/portfolio for which Absolute Consumption data is collected from and reported on in columns A and B.
  • Note: When there is no consumption data available for one of the energy sources, but an energy supply exists, Data Coverage should be 0 m2/ft2.

  • Maximum Potential Data Coverage: The floor area reported in these fields (column D) should reflect the total floor area of the asset/portfolio of the area for which there is energy supply in the building.
    • Example: Maximum Potential Data Coverage of Common Areas (row 1-3) should reflect the sum of the total floor area of all common areas within the portfolio by property type, for which there is energy supply.
    • Example: for Indirectly Managed assets, Maximum Potential Coverage should reflect the percentage of the floor area reported for that particular property type in the reporting characteristics (RC5.1), assuming there is supply in all assets/building for the applicable energy type.

Floor area type: Participants should consistently apply the floor area type (gross floor area or lettable floor area), as selected in RC5.1, for each completed row. Within the row, m2/ft2 reported in Data Coverage and Maximum Potential Coverage and the selected floor area must be consistent as chosen in RC3. It is recommended to report on floor areas using the International Property Measurement Standard (IPMS).

Note: If the floor area for common areas is unknown, report an estimated floor area as a proportion of lettable floor area. Report the details of the estimate in the open text box below the Energy Consumption Table.

5. Complete Data Coverage for Like-for-like Consumption of the portfolio for this property type.

When analyzing the Assessment results, institutional investors would like to be able to put the LFL data into the context of their investment portfolio. This value does not have any impact on scoring, but it will help GRESB refine additional data checks on the data provided and it will help investors with their interpretation of portfolio performance. Make sure that the like-for-like consumption data is submitted before you explain the portfolio outlier checks, in case the GRESB Portal detects outliers in the data.

6. Average annual vacancy: Report the weighted average annual vacancy in the portfolio of each property type for 2016 and 2017, based on floor area. This information is used for reporting purposes and may clarify the Like-for-Like Change figures.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on any assumptions made in reporting and possible exclusions from the like-for-like portfolio, etc.

Outliers: The consumption data is validated as part of the All Participant Outlier Check. If the corresponding consumption is abnormal relative to all reported data for the particular property type. Participants should be sure to explain the identified outliers before submitting the Assessment. The explanation provided for the outliers will be validated and will affect the inclusion of the data points scoring and analysis. Reasonable and clear explanations prevent the exclusion of data points identified as outliers. Outlier explanations can pertain to:

  • Implemented efficiency measures
  • Weather conditions
  • Tenant behavior
  • Other __________
The outlier validation guidance can be found in Appendix 7c.

Scoring

Scoring for this indicator is based on:

  1. Data Coverage = 8p
  2. Asset level energy data reporting = 1.5p
  3. Like-for-Like data availability = 0.5p
  4. Like-for-Like performance improvement = 2p

Data coverage percentages values are benchmarked against peers in the benchmarking comparison group. Benchmarks are constructed within property type and account for whether the data was “Landlord obtained” or “Tenant obtained”, per below definitions:

  • Landlord obtained data:
    • Managed Assets: Base Building, Tenant Space purchased by Landlord, and Whole Building.
  • Tenant obtained data:
    • Managed Assets: Tenant space purchased by tenant;
    • Indirectly Managed Assets: Whole building.

The benchmark attempts to further refine benchmarking groups to the regional level, but will use a global benchmarking group in case of an insufficient number of regional peers (minimum of 12). If the GRESB reporting universe does not contain a sufficient number of peers to construct a global benchmark (minimum of 12), the benchmark will use a static model with cut off points at: 25%, 50% and 75% data coverage.

The scoring methodology for data coverage values: Within each benchmarking group the relevant data coverage values are split into quartiles. Each respondent is then given 25%, 50%, 75% or 100% of the maximum available points depending on whether their data coverage value is in the 1st, 2nd, 3rd or 4th quartile of the benchmark. The resulting scores are then aggregated to a single score using a weighted mean with floor areas as weights. The maximum available points is defined as:

  • Base building: 40%*8p = 3.2p
  • Tenant spaces: 60%*8p = 4.8p, divided between:
    • Landlord obtained energy - weighted based on floor area Tenant Space, Energy Purchased by Landlord out of total Tenant floor area
    • Tenant obtained energy - weighted based on floor area Tenant Space, Energy Purchased by Tenant out of total Tenant floor area
  • Whole building: 8p

The scoring methodology for Like-for-Like data: Like-for-Like performance is scored using a methodology and approach similar to the scoring of data coverage, except for that reporting a lower value (for example a negative one) which ends up in a lower quartile will always result in a higher or equal score.

The open text box is not scored and is for reporting purposes only.

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

Examples

See definitions in Appendix 2b.

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.2, Coverage

SASB-Real Estate Owners, Developers & Investment Trusts, March 2016: IF0402-01; IF0402-02; IF0402-03

RobecoSAM Corporate Sustainability Assessment, 2017: 4.2.4, Energy

Recommendations of the Task Force on Climate-Related Financial Disclosures, June 2017: Metrics and Targets- A

1.5 points , IM, E

Intent

Energy use intensities are key metrics to measure energy performance of buildings. These metrics are building-agnostic and can be used for tracking overall portfolio performance over time. GRESB acknowledges that there are regional and property type variations in how intensities are calculated. Therefore, GRESB asks participants to calculate intensities using their own calculation method.

Terminology

See definitions in Appendix 2a.

Requirements

Select yes or no per property type. If yes, complete available data in the table and report energy use intensities based on whole portfolio (Managed and Indirectly Managed assets).

Participants have the option to select a baseline year. This can be any year from 2002 onwards. Complete all the fields and be consistent with the unit of measurement used.

Participants should select the elements for which intensities are normalized (i.e. included in the intensity calculation). Floor area is not considered a normalization factor, but the denominator by default.

Note: In the case the intensities are calculated by a third party tool/methodology, make sure to select the normalization factors applied by the tool/methodology and specify the tool/methodology in the open text box. For example: NABERS. The energy consumption figures are adjusted/normalized to account for area, climate, hours of occupancy and equipment density.

Open text box, intensity calculation methodology: Participants may calculate intensities using their own methodology. It is mandatory to use the open text box to explain the methodology and how intensities are used within the organization. Acceptable answers must include:

  1. The calculation method/formula, typically an equation.
  2. Clearly specified unit of measurements.
  3. Description of the business-relevance of the intensity metric (how intensities are applied when making business decisions).

Examples

Units of measurement/applied denominators can differ, examples are: m2/ft2, workstations (Office), visitors per annum (Retail), number of guest-nights (Hotel), number of households (Residential).

Scoring

Scoring of intensity data input is based on:

  • Data reported, yes or no.
  • If yes, the number of normalization factors applied.

Percentage of portfolio covered is used for reporting purposes only and is not included in scoring.

Full, partial or no points are awarded to open text box responses. Responses are assessed based on compliance with indicator requirements noted above.

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.6, Normalisation; Energy intensity

GRI Sustainability Reporting Standards, 2016: 302-3, Energy intensity

RobecoSAM Corporate Sustainability Assessment, 2017: 4.2.4, Energy

Recommendations of the Task Force on Climate-Related Financial Disclosures, June 2017: Metrics and Targets- A

3 points , IM, E

Intent

The use of renewable energy reduces economic and environmental impacts associated with fossil fuel energy use. The intent of this indicator is to determine the entity’s use of renewable energy sources.

Terminology

See definitions in Appendix 2a.

Requirements

Select yes or no per property type. If you select yes, complete the table and report absolute renewable energy generation and consumption based on the whole portfolio (Managed and Indirectly Managed assets). Leave fields for which you do not have data blank. If no data is available or no renewable data is used, select no.

To be able to use this data for your GHG emissions calculation, you should break down on-site renewable energy into:

  • Generated and consumed on-site; and
  • Generated on-site and exported.

Off-site renewable energy (generated off-site or purchased from third party) refers to what is consumed in the real estate portfolio. Note:

  • You can include REC’s (renewable energy certificates) and/or PPA (power purchase agreement) in your reporting on renewable energy in PI1.3, Row 32: Off-site renewable energy (generated off-site or purchased from third party). However, RECs cannot be considered a source of renewable energy and as a way to offset the portfolio’s carbon emission at the same time. You should therefore not include REC’s in your reporting on GHG Offsets in PI2.1, or Row 39: GHG Offsets purchased.
  • GRESB does not include Carbon offsets (e.g. certificates) as Renewable Energy. Carbon offsets can be specified separately in PI2.1, Row 39: GHG Offsets purchased and NOT be included as renewable energy in PI1.3

GRESB automatically calculates total renewable energy. This is the sum of renewable energy generated on-site, (both consumed on-site and exported), plus renewable energy generated off-site or purchased from a utility provider or other third party. Make sure you use the correct measurement units: MWh, rather than kWh.

Percentage renewable energy: This refers to the percentage of the whole portfolio’s total energy use that is sourced from renewable energy. This should be calculated based on (a) the total amount of renewable energy and (b) total energy consumption of whole portfolio of this property type. To calculate the relative use of renewable energy within the portfolio, you must ensure that the coverage figure is aligned with the Data Coverage provided in table PI1.1, column C.

Percentage renewable energy = (Total renewable energy) / (Total energy consumption of whole portfolio of this property type) x 100

Scoring

The scoring of this indicator is based on: (1)On-site renewable energy = 2p, (2)off-site renewable energy = 1p, and (3)Performance (% renewable energy) = 1p. The maximum points available is capped at 3p.

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

References

GHG Protocol

CDP, Q8 Emissions data

LEED O+M: Existing Buildings, v4, Energy & Atmosphere: Renewable Energy and Carbon Offsets

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.2, Coverage; Elec-Abs

SASB-Real Estate Owners, Developers & Investment Trusts, March 2016: IF0402-01; IF0402-02; IF0402-03

Recommendations of the Task Force on Climate-Related Financial Disclosures, June 2017: Metrics and Targets- A

1 point , MP, E

Intent

Third-party checks on sustainability disclosures provide investors and participants with confidence regarding the integrity and reliability of the reported data. This indicator is NOT asked per property type but asks about review, verification and assurance of energy data reported across the whole portfolio.

This indicator differs from PD5.2 by addressing the review of data provided in PI1.1, PI1.2 and PI1.3. The review covered in PD5.2, can differ in both granularity (level of detail) and scope (see Requirement section for details).

Terminology

See definitions in Appendix 2a.

Requirements

Select yes, no or not applicable. If yes, state whether the energy consumption data has been checked, verified or assured (select one option; the most detailed level of scrutiny to which the data was subject) and the used assurance standard (if applicable).

Name of the organization: Provide the full name of the organization. You may be asked for additional information about the organization(s). It is possible to report on multiple organizations.

Evidence: Document upload is mandatory. Evidence should include:

  1. Prove of the existence of the third-party energy consumption data review. A clear indication that the reviewed data reflects the data reported in PI1.1, PI1.2, PI1.3.
  2. A description of the type of third-party review (checked, verified, or assured), the used assurance standard (if applicable), and the name of the third-party that conducted the review.
  3. Proof that the energy consumption data review was performed for the underlying assets of the reporting entity.

Note:This indicator differs from PD5.2 in both granularity (level of detail) and scope:

  • If data granularity required in PI1.1, PI1.2 and PI1.3 is higher than in PD5.2, participants can not assume that data review documented in PD5.2 also applies to PI1.1, PI1.2 and PI1.3.
  • However, if data granularity provided in PI1.1, PI1.2 and PI1.3 is lower than PD5.2, then participants can assume that independent review documented in PD5.2 implicitly covers these 3 indicators.
In the latter case, responses will only be considered valid if reporting boundaries for both sets of indicators are equivalent. Any difference in reporting boundaries needs to be thoroughly supported by evidence and clearly explained by participants.

Scoring

Scoring is based on (1) the type of third-party review, (2) the validity of the name of the organization reported, and (3) the used assurance standard, if applicable.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

GRESB’s accepted assurance and verification are aligned with the Carbon Disclosure Project (CDP). accepted verification standards.

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.4, Third party assurance

Not scored

Intent

Greenhouse gas (GHG) accounting has developed significantly in recent years. Many countries have introduced mandatory GHG emissions reporting, in addition to organizations often setting their own voluntary GHG emission targets. Evaluating emissions within participants’ portfolios (or Scope 1 and 2 accounting) has become the norm, and organizations are increasingly looking at emissions throughout their value chains (Scope 3 and Product inventories).

Terminology

Location-based method: A method used to quantify Scope 2 GHG emissions based on average emissions intensity of grids on which the energy consumption occurs (using mostly grid-average emission factor data). Emission factors are often defined using geographic locations. These can be based on local, subnational, or national boundaries.

Market-based method: A method to quantify Scope 2 GHG emissions based on emissions by the generators from which the reporter contractually purchases electricity. The market-based method reflects the GHG emissions associated with the choices a consumer makes regarding its electricity supplier or product (or the lack of choice).

Equity share approach: Scope 1 and Scope 2 GHG emissions are accounted from operations according to share of ownership. The equity share reflects economic interest, which is the extent of rights a company has to the risks and rewards flowing from an operation. For example, an entity will account for the emissions of a JV asset by weighing the emissions by percentage of ownership.

Operational control approach Under the operational control approach, a company accounts for 100 percent of the Scope 1 and Scope 2 GHG emissions from operations over which it has control. A company has operational control over an operation if the former or one of its subsidiaries has the full authority to introduce and implement its operating policies at the operation. It does not account for GHG emissions from operations in which it owns an interest but has no control.

Financial control approach The company has financial control over the operation if the former has the ability to direct the financial and operating policies of the latter with a view to gaining economic benefits from its activities.

Requirements

Select yes or no for each property type included in the entity’s portfolio. If no data is available, select ‘no’. If yes is selected, you will be asked to answer PI2.1, PI2.2 per property type.

Indicate the methodology used in calculating Scope 2 GHG emissions for this property type. This is not scored in 2018 but for reporting purpose only.

  • Location/Market-based method: Select the method used to calculate Scope 2 GHG emissions. GRESB recognizes that with the 2015 update of the GHG Protocol companies are recommended to report separately on both location-based and market-based Scope 2 GHG emissions. As PI2.1 has only one field to report Scope 2 emissions, GRESB recommends participants to use the location-based method over the market-based method in their reporting. Participants should only select both checkboxes if they cannot report on either the location or market-based method separately.
  • Equity share/Operational/Financial control approach: Participants should indicate which approach they used for establishing their Scope 1 and Scope 2 GHG emissions inventory reporting boundary. GRESB recommends participants not to combine approaches. If participants are new to GHG emissions reporting, GRESB recommends to report using the operational control approach, the approach used most prevalent in the industry.

Note that the type of approach selected together with the leasing structure of assets will determine what type of emissions are reported under Scope I, Scope II and Scope III emissions.

  • Operational/Financial control approach
    • Emissions from landlord controlled areas/electricity purchased by the landlord are considered Scope I and Scope 2.
    • Emissions from Tenant controlled areas/electricity purchased by the tenant and Indirectly Managed Assets are considered Scope 3.
  • Equity share approach
    • Emissions from the entire portfolio, including tenant emissions, are attributed to Scope I and Scope 2.
    • Emissions from JV are attributed to the entity per percentage ownership of the asset.

Participants always have the opportunity to report additional Scope 3 emissions, other than tenant emissions, in the open text box underneath the table in PI2.1. However, these emissions associated with a company’s supply chain, should not be associated with any Floor Area.

GRESB understands that in some markets GHG emissions might be attributed differently, due to regulation or standards. If this is the case, a participant is recommended to select both checkboxes and provide a description of the deviation from above rules in the open text box underneath PI2.1.

References

GHG Protocol Scope II Guidance, 2015

Realpac, Who’s Carbon is it?, 2010

3.5 points , IM, E

Intent

Greenhouse gas (GHG) accounting has developed significantly in recent years. Many countries have introduced mandatory GHG emissions reporting, in addition to organizations often setting their own voluntary GHG emission targets. Evaluating emissions within participants’ portfolios (or Scope 1 and 2 accounting) has become the norm, and organizations are increasingly looking at emissions throughout their value chains (Scope 3 and Product inventories).

Terminology

See definitions in Appendix 2a.

Requirements

Complete the applicable rows and fields in the table for that property type, based on whole portfolio data (combine Managed and Indirectly Managed assets).

Fields to complete: Complete all the fields of the table for which you have available data, making sure that you use the correct measurement unit (metric tonnes).

The reporting rules for data coverage and Like-for-Like outlined in PI 1.1 are also applicable to PI 2.1.

Outliers: The consumption data is validated as part of the All Participant Outlier Check. If the corresponding consumption is abnormal relative to all reported data for the particular property type. Participants should be sure to explain the identified outliers before submitting the Assessment. The explanation provided for the outliers will be validated and will affect the inclusion of the data points scoring and analysis. Reasonable and clear explanations prevent the exclusion of data points identified as outliers. Outlier explanations can pertain to:

  • Implemented efficiency measures
  • Weather conditions
  • Tenant behavior
  • Other __________
The outlier validation guidance can be found in Appendix 7c.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on GHG emissions calculation methodology, assumption, boundaries, etc.
Note: Participants always have the opportunity to report additional Scope 3 emissions, other than tenant emissions, in the open text box. However, these emissions associated with a company’s supply chain, should not be associated with any Floor Area.

Scoring

The scoring for this indicator is based on:

  1. Data Coverage for Scope 1,Scope 2, and Scope 3 (new in 2018, refer to emissions from tenant obtained energy) GHG emissions = 2p
  2. Asset level GHG emissions data reporting = 0.5p
  3. Like-for-Like performance improvement = 1p

Data Coverage for the total Scope 1,Scope 2 and Scope 3 emissions is benchmarked and scored. Benchmarks are constructed within property type, and attempts to further refine benchmarking groups to the regional level, but will use a global benchmarking group in case of an insufficient number of regional peers (minimum of 12). If the GRESB reporting universe does not contain a sufficient number of peers to construct a global benchmark (minimum of 12), the benchmark will use a static model with cutoff points at: 25%, 50% and 75% data coverage.

The scoring methodology for data coverage values: Within each benchmarking group the relevant data coverage values are split into quartiles. Each respondent is then given 25%, 50%, 75% or 100% of the maximum of 2 points for data coverage, depending on whether their coverage value is in the 1st, 2nd, 3rd or 4th quartile of the benchmark. The resulting scores are then aggregated to a single score using a weighted mean with floor areas as weights.

The scoring methodology for Like-for-Like data: Like-for-Like performance is scored using a methodology and approach similar to the scoring of data coverage (1, 0.5 or 0.25 points, respectively), except for that reporting a lower value (for example a negative one) which ends up in a lower quartile will always result in a higher or equal score.

The open text box is not scored and is for reporting purposes only.

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

Examples

See definitions in Appendix 2b.

References

Reporting of GHG emissions is based on: GHG protocol, GRI GRESS (G4-EN15, G4-EN16, G4-EN17,), ISO 14064 and CDP.

For further guidance on the individual components of GHG emissions, refer to: EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017; INREV Sustainability Reporting Recommendations, 3.5-3.7; International Property Measurement Standard (IPMS); EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.2, Coverage; RobecoSAM Corporate Sustainability Assessment, 2017: 4.2.1, Direct greenhouse gas emissions; Recommendations of the Task Force on Climate-Related Financial Disclosures June 2017: Metrics and Targets- B

0.75 points , IM, E

Intent

GHG intensities provide an important measure of the environmental performance of an asset. These metrics can be used for tracking asset performance over time. GRESB acknowledges that there are regional and property type variations in how intensities are calculated. Therefore, in 2017 GRESB asks participants to calculate intensities using their own calculation method.

Terminology

See definitions in Appendix 2a.

Requirements

Select yes or no per property type. If you select yes, complete available data in the table and report GHG emissions intensities based on Whole Portfolio (Managed and Indirectly Managed assets).

Participants have the option to select a baseline year. This can be any year from 2002 onwards. Complete all the fields, and be consistent in the unit of measurement used.

Participants should select the elements for which intensities are normalized (i.e. included in the intensity calculation). Floor area is not considered a normalization factor, but the denominator by default.

Note: In the case the intensities are calculated by a third party tool/methodology, make sure to select the normalization factors applied by the tool/methodology and specify the tool/methodology in the open text box. Example: NABERS - the GHG emission data is adjusted to account for area, climate, hours of occupancy and equipment density.

Open text box, intensity calculation methodology: Participants may calculate intensities using their own methodology. It is mandatory to use the open text box to explain the methodology and how intensities are used within the organisation. Acceptable answers must include:

  1. The calculation method/formula, typically an equation.
  2. Clearly specified unit of measurements.
  3. Description of the business-relevance of the intensity metric (how intensities are applied when making business decisions).

Examples

Units of measurement/applied denominators can differ, examples are: m2/ft2, workstations (Office), visitors per annum (Retail), number of guest-nights (Hotel), number of households (Residential).

Scoring

Scoring of intensity data input is based on:

  • Data reported, yes or no.
  • If yes, the number of normalization factors applied.

Percentage of portfolio covered is used for reporting purposes only and is not included in scoring.

Full, partial or no points are awarded to open text box responses. Responses are assessed based on compliance with indicator requirements noted above.

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.6, Normalisation

CDP, CC12 Emissions Performance

GRI Sustainability Reporting Standards, 2016: 305-4, GHG emissions intensity

GRI GRESS (G4-EN18)

Recommendations of the Task Force on Climate-Related Financial Disclosures, June 2017: Metrics and Targets- B

0.75 points , MP, E

Intent

Third-party checks on sustainability disclosures provide investors and participants with some confirmation of the integrity and reliability of the reported data. This indicator is NOT asked per property type but asks about review, verification and assurance of GHG emissions data across the whole portfolio.

Terminology

See definitions in Appendix 2a.

Requirements

Select yes, no or not applicable. If yes, state whether the GHG emissions data has been checked, verified or assured (select one option; the most detailed level of scrutiny to which the data was subject) and the used assurance standard (if applicable).

Name of the organization: Provide the full name of the organization. You may be asked for additional information about the organization(s). It is possible to report on multiple organizations.

Evidence: Document upload is mandatory. Evidence should include:

  1. Prove of the existence of the third-party GHG emissions data review. A clear indication that the reviewed data reflects the data reported in PI1.1, PI1.2, PI1.3.
  2. A description of the type of third-party review (checked, verified, or assured), the used assurance standard (if applicable), and the name of the third-party that conducted the review.
  3. Proof that the GHG emissions data review was performed for the underlying assets of the reporting entity.

Note:This indicator differs from PD5.2 in both granularity (level of detail) and scope:

  • If data granularity required in PI2.1 and PI2.2 is higher than in PD5.2, participants can not assume that data review documented in PD5.2 also applies to PI2.1 and PI2.2.
  • However, if data granularity provided in PI2.1 and PI2.2 is lower than PD5.2, then participants can assume that independent review documented in PD5.2 implicitly covers these 2 indicators.
In the latter case, responses will only be considered valid if reporting boundaries for both sets of indicators are equivalent. Any difference in reporting boundaries needs to be thoroughly supported by evidence and clearly explained by participants.

Scoring

Scoring is based on (1) the type of third-party review, (2) the validity of the name of the organization reported, and (3) the used assurance standard, if applicable.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

GRESB’s accepted assurance and verification are aligned with the Carbon Disclosure Project (CDP). accepted verification standards.

RobecoSAM Corporate Sustainability Assessment 2017: 4.2.1, Direct greenhouse gas emissions

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.4 Third party assurance

Recommendations of the Task Force on Climate-Related Financial Disclosures, June 2017: Metrics and Targets- B

Not scored

Requirements

Select yes or no for each property type included in the portfolio. If no data is available, select ‘no.’ If yes is selected, you will be asked to answer PI3.1, PI3.2 and PI3.3 per property type.

3.5 points , IM, E

Intent

Consistent collection of water consumption data provides property companies and fund managers the information to monitor their environmental impact, reduce the burden on potable water consumption and wastewater systems, assess exposure to risks of disruptions in water supplies and reduce water expenditures.

The quantity of water consumed is used for reporting purposes only, while the availability (“coverage”) of water consumption data is scored. Investors use absolute data to calculate the total water consumption for their real estate investments. Data Coverage, for both Managed and Indirectly Managed assets, as well as Base building, Tenant space and Whole building, is used for scoring purposes, since this reflects the efforts taken to measure and monitor consumption data.

GRESB calculates Like-for-Like Change, used for scoring purposes, based on the data submitted for 2016 and 2017 per property type, for both Managed and Indirectly Managed assets.

Terminology

See definitions in Appendix 2a.

Requirements

If you select yes, also complete the applicable rows and fields in the table for that property type, based on whole portfolio data (Managed and Indirectly Managed assets).

The reporting rules for data coverage and Like-for-Like outlined in PI 1.1 are also applicable to PI 3.1.

Outliers: The consumption data is validated as part of the All Participant Outlier Check. If the corresponding consumption is abnormal relative to all reported data for the particular property type. Participants should be sure to explain the identified outliers before submitting the Assessment. The explanation provided for the outliers will be validated and will affect the inclusion of the data points scoring and analysis. Reasonable and clear explanations prevent the exclusion of data points identified as outliers. Outlier explanations can pertain to:

  • Implemented efficiency measures
  • Weather conditions
  • Tenant behavior
  • Other __________
The outlier validation guidance can be found in Appendix 7c.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on assumptions, exclusion of Like-for-Like, etc.

Scoring

Scoring of this indicator is based on:

  1. Data Coverage = 2p
  2. Asset level water data reporting = 0.5p
  3. Like-for-Like performance improvement = 1p

Data coverage percentages values are benchmarked against peers in the benchmarking group. Benchmarks are constructed within property type and account for whether the data was “Landlord obtained” or “Tenant obtained”, per below definitions:

  • Landlord obtained data:
    • Managed Assets: Base Building, Tenant Space purchased by Landlord, and Whole Building.
  • Tenant obtained data:
    • Managed Assets: Tenant space purchased by tenant;
    • Indirectly Managed Assets: Whole building.

The benchmark attempts to further refine benchmarking groups to the regional level, but will use a global benchmarking group in case of an insufficient number of regional peers (minimum of 12). If the GRESB reporting universe does not contain a sufficient number of peers to construct a global benchmark (minimum of 12), the benchmark will use a static model with cut off points at: 25%, 50% and 75% data coverage.

The following steps are taken to assign the maximum score for data coverage values:

The scoring methodology for data coverage values: Within each benchmarking group the relevant data coverage values are split into quartiles. Each respondent is then given 25%, 50%, 75% or 100% of the maximum available points depending on whether their data coverage value is in the 1st, 2nd, 3rd or 4th quartile. The resulting scores are then aggregated to a single score using a weighted mean with floor areas as weights. The maximum available points is defined as:

  • Base building: 40%*2p = 0.8p
  • Tenant spaces: 60%*2p = 1.2p, divided between:
    • Landlord obtained energy - weighted based on floor area Tenant Space, Energy Purchased by Landlord out of total Tenant floor area
    • Tenant obtained energy - weighted based on floor area Tenant Space, Energy Purchased by Tenant out of total Tenant floor area
  • Whole building: 2p

The scoring methodology for Like-for-Like data: Like-for-Like performance is scored using a methodology and approach similar to the scoring of data coverage (1, 0.5 or 0.25 points, respectively), except for that reporting a lower value (for example a negative one) which ends up in a lower quartile will always result in a higher or equal score.

The open text box is not scored and is for reporting purposes only.

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

Examples

See definitions in Appendix 2b.

References

EPRA Best Practices Recommendations on Sustainability Reporting 3rd version, September 2017: 5.2, Coverage

INREV Sustainability Reporting Recommendations, 3.8-3.9

LEED 2009 for Existing Buildings, WE Prerequisite 1

International Property Measurement Standard (IPMS).

SASB-Real Estate Owners, Developers & Investment Trusts, March 2016: IF0402-06; IF0402-07

0.75 points , IM, E

Intent

Water use intensities provide an important measure of the environmental performance of an asset. These metrics can be used to track asset performance over time. Since GRESB acknowledges that there are broad regional and property type variations in how intensities are calculated,participants are asked to calculate intensities using their own calculation method.

Terminology

See definitions in Appendix 2a.

Requirements

Select yes or no per property type. If you select yes, complete the table and report water use intensities based on Whole Portfolio (Managed and Indirectly Managed assets).

Participants have the option to select a baseline year. This can be any year from 2002 onwards. Complete all the fields, and be consistent in the unit of measurement used.

Participants should select the elements for which intensities are normalized (i.e. included in the intensity calculation). Floor area is not considered a normalization factor, but the denominator by default.

Note: In the case the intensities are calculated by a third party tool/methodology, make sure to select the normalization factors applied by the tool/methodology and specify the tool/methodology in the open text box.

Open text box, intensity calculation methodology: Participants may calculate intensities using their own methodology. It is mandatory to use the open text box to explain the methodology and to explain how intensities are used for reporting purposes internally. Acceptable answers must include:

  1. The calculation method/formula, typically an equation.
  2. Clearly specified unit of measurements.
  3. Description of the business-relevance of the intensity metric (how intensities are applied when making business decisions).

Examples

Units of measurement/applied denominators can differ, examples are: m2/ft2, workstations (Office), visitors per annum (Retail), number of guest-nights (Hotel), number of households (Residential).

Scoring

Scoring of intensity data input is based on:

  • Data reported, yes or no.
  • If yes, the number of normalization factors applied.

Percentage of portfolio covered is used for reporting purposes only and is not included in scoring.

Full, partial or no points are awarded to open text box responses. Responses are assessed based on compliance with indicator requirements noted above.

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.6, Normalisation

INREV Sustainability Reporting Recommendations, 3.8-3.9

0.5 points , IM, E

Intent

Water scarcity is increasingly becoming a global issue. The reuse and recycling of water is important as it reduces economic and environmental impacts associated with water consumption. Water recycling refers to reusing treated wastewater for beneficial purposes such as industrial processes, toilet flushing and replenishing ground water basins. Water is sometimes recycled and reused on-site; for example, when an industrial facility recycles water used for cooling processes.

Terminology

See definitions in Appendix 2a.

Requirements

Select yes or no per property type. If yes, complete the table and report absolute reused and/or recycled water based on whole portfolio (Managed and Indirectly Managed assets). If no data is available or no water is reused and/or recycled, select no. Leave fields for which you do not have data blank.

GRESB automatically calculates total reused and recycled water. This is the sum of reused water on-site, plus on-site captured water or water, which is extracted on-site.

Make sure you use the correct measurement units (m3).

Percentage reused and recycled water: The percentage of the whole portfolio’s total water use that is comprised of reused and recycled water. This should be calculated based on (a) the total amount of reused and recycled water and (b) total water consumption of whole portfolio. To be able to calculate the relative use of water reuse and recycling within the portfolio, you must ensure that the coverage figure is aligned with the Data Coverage provided in table PI3.1, column C.

Scoring

The scoring of this indicator is based on: (1)On-site water reuse and recycling, and (2)Performance (percentage reused and recycled water).

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

References

GRI Sustainability Reporting Standards (2016): 303-3, Water recycled and reused

0.75 points , MP, E

Intent

Third-party checks on sustainability disclosures provide investors and participants with confidence regarding the integrity and reliability of the reported data. This indicator is NOT asked per property type but asks about review, verification and assurance of water consumption data across the whole portfolio.

Terminology

See definitions in Appendix 2a.

Requirements

Select yes, no or not applicable. If yes, state whether the water consumption data has been checked, verified or assured (select one option; the most detailed level of scrutiny to which the data was subject) and the used assurance standard (if applicable).

Name of the organization: Provide the full name of the organization. You may be asked for additional information about the organization(s). It is possible to report on multiple organizations.

Evidence: Document upload is mandatory. Evidence should include:

  1. Prove of the existence of the third-party water consumption data review. A clear indication that the reviewed data reflects the data reported in PI3.1, PI3.2, PI3.3.
  2. A description of the type of third-party review (checked, verified, or assured), the used assurance standard (if applicable), and the name of the third-party that conducted the review.
  3. Proof that the water consumption data review was performed for the underlying assets of the reporting entity.

Note:This indicator differs from PD5.2 in both granularity (level of detail) and scope:

  • If data granularity required in PI3.1, PI3.2 and PI3.3 is higher than in PD5.2, participants can not assume that data review documented in PD5.2 also applies to PI3.1, PI3.2 and PI3.3.
  • However, if data granularity provided in PI3.1, PI3.2 and PI3.3 is lower than PD5.2, then participants can assume that independent review documented in PD5.2 implicitly covers these 3 indicators.
In the latter case, responses will only be considered valid if reporting boundaries for both sets of indicators are equivalent. Any difference in reporting boundaries needs to be thoroughly supported by evidence and clearly explained by participants.

Scoring

Scoring is based on (1) the type of third-party review, (2) the validity of the name of the organization reported, and (3) the used assurance standard, if applicable.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

GRESB’s accepted assurance and verification are aligned with the Carbon Disclosure Project (CDP). accepted verification standards.

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017:5.4, Third party assurance

RobecoSAM Corporate Sustainability Assessment 2017: 4.2.7, Water

Not scored

Requirements

Select yes or no for each property type included in the entity’s portfolio. If no data is available, select ‘no’. If yes is selected, you will be asked to answer PI4.1 per property type.

3.25 points , IM, E

Intent

Consistent collection of waste data gives property companies and funds the information they need to monitor their environmental impact, assess their process efficiency and set targets to reduce the amount of waste produced.

Information on a portfolio’s produced hazardous and nonhazardous waste, together with disposal destinations, are valuable insights for participants to manage environmental impacts and to discover unnecessary financial burdens.

Terminology

See definitions in Appendix 2a.

Requirements

If you select yes, complete the tables for that property type, based on whole portfolio data (including both Managed and Indirectly Managed assets). Complete all the rows and fields of the table for which you have available data, making sure you use the correct measurement units (for waste weight this is metric tonnes).

1. Complete the applicable rows with waste data, based on whole portfolio data for this property type.

Absolute Measurement: This is requested only for reporting purposes, investors use this data to calculate the total waste produced on-site at their real estate investments. All available waste data for both 2016 and 2017 should be included and completed in the applicable fields (column A and B).

Percentage portfolio covered: This should be calculated based on waste data availability within the applicable reporting years (2016 and 2017). Floor area for which no waste data is available should be excluded from the total portfolio floor area of which waste is collected to derive the numerator. The denominator should be the total floor area for which waste is collected, regardless of data availability.

2. Determine the proportion of waste by disposal route, (i.e., the method by which waste is treated or disposed as a percentage of the total waste by weight during both reporting years 2016 and 2017).

Landfill: Site for the disposal of waste materials by burial and is the oldest form of waste treatment.

Incineration: Waste treatment process that involves the combustion of organic substances contained in waste materials.

Diverted (total): Waste diversion is the process of diverting waste from landfills and/or incineration.

  • Diverted, Waste to Energy: Diverting waste through the process of generating energy in the form of electricity and/or heat.
  • Diverted, Recycling: Diverting waste through the process of changing waste materials into new products or objects. This disposal method prevents the waste of potentially useful material, alleviates the consumption of fresh raw materials, reduces energy usage, air pollution (from incineration) and water pollution (from landfilling) by reducing the need for ‘conventional’ waste disposal. Recycling also produces lower greenhouse gas emissions as compared to plastic production.
  • Diverted, Other: Other methods to divert waste.

Outliers: The consumption data is validated as part of the All Participant Outlier Check. If the corresponding consumption is abnormal relative to all reported data for the particular property type. Participants should be sure to explain the identified outliers before submitting the Assessment. The explanation provided for the outliers will be validated and will affect the inclusion of the data points scoring and analysis. Reasonable and clear explanations prevent the exclusion of data points identified as outliers. Outlier explanations can pertain to:

  • Implemented efficiency measures
  • Weather conditions
  • Tenant behavior
  • Other __________
The outlier validation guidance can be found in Appendix 7c.

Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on any assumptions made in reporting.

Scoring

Scoring for this indicator is based on:

  1. Data Coverage = 1.5p
  2. Asset level waste data reporting = 0.25p
  3. Proportion of waste by disposal route = 1.5p

Data coverage percentages values are benchmarked against peers in the benchmarking comparison group. Benchmarks are constructed within property type and management style (indirectly or directly managed). The benchmark attempts to further refine benchmarking groups to the regional level, but will use a global benchmarking group in case of an insufficient number of regional peers (minimum of 12). If the GRESB reporting universe does not contain a sufficient number of peers to construct a global benchmark (minimum of 12), the benchmark will use a static model with cutoff points at: 25%, 50% and 75% data coverage.

The following steps are taken for scoring at property type level:

  1. Data coverage values for each combination of management and property type are placed on a bell curve (a distribution of peer group’s values).
  2. Three cutoff points are applied, breaking the distribution in quartiles. Consequently, each data coverage value falls into one of the four quartiles.
  3. The 1st, 2nd, 3rd or 4th quartiles receive 0.375, 0.75, 1.125 or 1.5 points, respectively.
  4. The scores obtained for each data coverage value are aggregated at the property type level, using the weights of managed and indirectly managed assets.

The following steps are taken for scoring proportion of waste by disposal route:

  1. The values for total percentage of “Diverted” waste is put on a bell curve and divided in four quartiles
  2. The 1st, 2nd, 3rd or 4th quartile receives 0.375, 0.75, 1.125 or 1.5 points, respectively
  3. Diverted waste is weighted with a higher score than incineration and landfills.

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

Examples

See definitions in Appendix 2b.

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.2, Coverage

INREV Sustainability Reporting Recommendations, 3.10-3.11

LEED 2009 for Existing Buildings, MR Prerequisite 2

RobecoSAM Corporate Sustainability Assessment 2017: 4.2.5, Waste

0.75 points , MP, E

Intent

Third-party checks on sustainability disclosures provide investors and participants with confidence regarding the integrity and reliability of the reported data. This indicator is NOT asked per property type but asks about review, verification and assurance of performance indicator data across the whole portfolio.

Terminology

See definitions in Appendix 2a.

Requirements

Select yes, no or not applicable. If yes, state whether the waste production data has been checked, verified or assured (select one option; the most detailed level of scrutiny to which the data was subject) and the used assurance standard (if applicable).

Name of the organization: Provide the full name of the organization. You may be asked for additional information about the organization(s). It is possible to report on multiple organizations.

Evidence: Document upload is mandatory. Evidence should include:

  1. Prove of the existence of the third-party waste data review
  2. A clear indication that the reviewed data reflects the data reported in PI4.1
  3. A description of the type of third-party review (checked, verified, or assured), the used assurance standard (if applicable), and the name of the third-party that conducted the review
  4. Proof that the waste data review was performed for the underlying assets of the reporting entity

Note:This indicator differs from PD5.2 in both granularity (level of detail) and scope:

  • If data granularity required in PI4.1 is higher than in PD5.2, participants can not assume that data review documented in PD5.2 also applies to PI4.1.
  • However, if data granularity provided in PI4.1 is lower than PD5.2, then participants can assume that independent review documented in PD5.2 implicitly covers this indicator.
In the latter case, responses will only be considered valid if reporting boundaries for both sets of indicators are equivalent. Any difference in reporting boundaries needs to be thoroughly supported by evidence and clearly explained by participants.

Scoring

Scoring is based on (1) the type of third-party review, (2) the validity of the name of the organization reported, and (3) the used assurance standard, if applicable.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

GRESB’s accepted assurance and verification are aligned with the Carbon Disclosure Project (CDP). accepted verification standards.

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.4, Third party assurance

3 points , MP, E

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 09.1 and 09.2

Intent

Environmental performance targets guide organizations and their employees towards r measurable improvements and are a key determinant to integrate sustainability into business operations. GRESB assesses the existence of credible targets, not the ambition level of these targets.

Terminology

See definitions in Appendix 2a.

Requirements

Select yes or no. If yes, complete the table for all applicable performance indicators (energy consumption, GHG emissions, water consumption and waste management) for the whole portfolio’s (Managed and Indirectly Managed assets) targets.

Target type: Select from the dropdown menu whether the performance indicator target is based on absolute or like-for-like data, or is intensity-based.

Baseline year: Include a baseline year. Participants have the option to select a baseline year from 2000 onwards.

End year: This is the end date for the long-term reduction targets. The end year must be 2017 or later.

2017 target: State the target for the current reporting year (see Portfolio Characteristics EC3).

Externally communicated: Select yes or no for each performance indicator target.

Other: State the other performance indicator for which you have set a long-term target. Other answers must be outside the options listed in the question, but must be related to performance indicators.

Scoring

This indicator is scored based on (1) the availability of one or more targets, each target earns 0.75 points and (2) whether an individual target is communicated externally; external communi.cation adds an additional 0.25 points per target. Acceptable responses must include:

  1. The actual long-term target
  2. Baseline year
  3. End year
  4. 2017 Target

Open text box is not scored and is for reporting purposes only.

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 7.9, Narrative on performance

Recommendations of the Task Force on Climate-Related Financial Disclosures June 2017: Metrics and Targets- C

Building Certifications

This Aspect assesses the entity’s use of green building certifications and energy ratings. Publicly disclosed asset-level building certifications and ratings provide third-party verified recognition of sustainability performance in new construction, refurbishment and operations. Typically, building certifications affirm that individual assets are designed and/or operated in ways that are consistent with independently developed sustainability criteria.

Green Building Certificates

2017 Indicator

10 points , IM, E

(BC1.1 and BC1.2 can obtain a maximum of 12 points in total.)

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 10

Intent

This Indicator intends to assess the entity’s use of green building certifications awarded for design, construction and/or major renovation (refurbishment). Green building certificates provide a measure of asset quality that may provide benefits for occupants, society and the environment. Building certifications also serve as an additional layer of transparency and accountability to inform investors and occupiers on the sustainability performance of an asset.

Terminology

Green Building Certificate: Recognition that a project has received a green building rating. A certificate indicates the name and location of the project, version of the rating system, date of certification, and level of recognition.

Green building certification for design and/or construction: Green Building Certificate obtained for building design, development and structure. These building certifications affirm that individual assets were designed, developed and structured in ways that are consistent with independently developed criteria.

Level of certification: The level achieved with successful completion of the rating scheme.

Number of certified assets: The number of assets that were awarded a green building certificate before or during the reporting period (excluding pre-assessments or other unofficial forms of pre-certification).

Scheme name: The name of the Green Building Certification scheme.

Standing Investments: Real estate properties where construction work has been completed and which are owned for the purpose of leasing and producing rental income. The level of occupancy is not relevant for this definition. Also known as operating buildings.

Sub-scheme name: A Green Building Certificate’s sub-category to a Scheme name used to certify a particular property type and/or to specify the type of building certificate (whether a Green Building Certificate is an Operational Green Building Certificate or a New Construction Green Building Certificate).

Time of construction: The period during which the asset was built.

Requirements

Select yes or no. If yes, complete the table using the following structure:

This indicator is solely focused on the certificates obtained for building design, development and structure. Operational green building certificates are not considered valid for this indicator and should be reported in BC1.2.

Only include green building certificates that were awarded before or during the reporting period. Pre-assessments or other unofficial forms of precertification are not valid.

Scheme / sub-scheme name: Select from the dropdown list. The full list is provided in the Real Estate Reference Guide Appendix 3a.

Note: If you cannot find a Scheme in the dropdown list and want to add a new scheme name and/or sub-scheme name, please send an email to info@gresb.com. You are also required to answer a set of additional questions about the scheme. These questions are not scored, but they are required for GRESB’s data validation process.

Number of certified assets: If an asset or a floor area is certified by more than one scheme, count it once, using the green building certification scheme that is most prevalent in the region in which the asset is located. For assets with certificates for building design, development and structure as well as certificates for operations, only report the certification on building design, development and structure in BC1.1.

Percentage portfolio covered by floor area: The percentage of the portfolio for a specific property type for which green building certificates were obtained (excluding pre-assessments or other unofficial forms of pre- certification). Note: The denominator in this indicator is the total floor area for a property type, not the total floor area for the whole portfolio.)

Scoring

Each reported certification is validated and given one out the following four validation statuses which determine a scoring weight for each coverage percentage:

  • Full Points: 1.0
  • Partial(+): 0.6
  • Partial(-): 0.3
  • No Points: 0

Each coverage percentage is multiplied by its associated weight and then summed up to give an overall coverage percentage per property type. This coverage percentage is then benchmarked against other coverage percentages from the same property type and region. The benchmark is split into quartiles, resulting in 2, 4, 6, or 8 points. 10 points are given only when there is 100% coverage.

If there is an insufficient number of entities (minimum of 12) reporting certification coverages within the combination of region and property type, then the coverage is benchmarked globally within the property type. If there is an insufficient number of reporting entities within the property type, then static cut-off points of 25%, 50% and 75% are used.

BC1.1 and BC1.2 are firstly benchmarked and scored individually. The maximum points available for BC1.1 is 10 points and the maximum points available for BC1.2 is 12 points. The two scores are then added up and capped at a maximum of 12 points.

Level of certification is for reporting purposes only and not used for scoring.

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

Examples

Answer structure: BREEAM/New Construction, Very Good

  • Scheme name: BREEAM International
  • Sub-scheme name: New Construction
  • Level of certification: Very good

Answer structure: LEED/New Construction, Gold

  • Scheme name: LEED
  • Sub-scheme name: New Construction
  • Level of certification: Gold

12 points , IM, E

(BC1.1 and BC1.2 can obtain a maximum of 12 points in total.)

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 10

Intent

This Indicator intends to assess the entity’s use of green building certifications for building operation and maintenance. Green building certificates provide a measure of asset quality that may provide benefits for occupants, society and the environment. Building certifications also serve as an additional layer of transparency and accountability to inform investors and occupiers on the sustainability performance of an asset.

Terminology

Baseline year: The initial year the participant uses as a starting point to set and measure improvement targets for any performance indicator.

Green Building Certificate: Recognition that a project has received a green building rating. A certificate indicates the name and location of the project, version of the rating system, date of certification, and level of recognition.

Level of certification: The level achieved with successful completion of the rating scheme.

Number of certified assets: The number of assets that were awarded a green building certificate before or during the reporting period (excluding pre-assessments or other unofficial forms of pre-certification).

Operational green building certificate: Green Building Certificate for operational buildings, obtained based on actual operational data for a specific period and the way the building is operated. Typically, these Green Building Certificates certify that individual assets are operated in ways that are consistent with independently developed sustainability-related criteria.

Scheme name: The name of the Green Building Certification scheme.

Standing Investments: Real estate properties where construction work has been completed and which are owned for the purpose of leasing and producing rental income. The level of occupancy is not relevant for this definition. Also known as operating buildings.

Sub-scheme name: A Green Building Certificate’s sub-category to a Scheme name used to certify a particular property type and/or to specify the type of building certificate (whether a Green Building Certificate is an Operational Green Building Certificate or a New Construction Green Building Certificate).

Requirements

Select yes or no. If yes, complete the table using the following structure:

This indicator is solely focused on the certificates obtained for operating buildings. These building certificates typically affirm that individual assets are operated in ways that are consistent with independently developed sustainability related criteria. Certificates obtained for building design, development and structure are not considered valid for this indicator. Only report on these certificates in BC1.1.

Only include green building certificates that were awarded before or during the reporting period. Some green building certificates are valid for a limited period only – the certificate should be officially in effect during the reporting period. pre-assessments or other unofficial forms of precertification are not valid.

Scheme / sub-scheme name: Select from the dropdown list. The full list is provided in the Real Estate Reference Guide Appendix 3a.

Note: If you cannot find a Scheme in the dropdown list and want to add a new scheme name and/or sub-scheme name, please send an email to info@gresb.com. You are also required to answer a set of additional questions about the scheme. These questions are not scored, but they are required for GRESB’s data validation process.

Number of certified assets: If an asset or a floor area is certified by more than one scheme, count it once, using the green building certification scheme that is most prevalent in the region in which the asset is located. For assets with certificates for building design, development and structure as well as certificates for operations, only report the certification on building design, development and structure in BC1.1.

Percentage portfolio covered by floor area: The percentage of the portfolio for a specific property type for which green building certificates were obtained (excluding pre-assessments or other unofficial forms of pre- certification). Note: The denominator in this indicator is the total floor area for a property type, not the total floor area for the whole portfolio.)

Scoring

Each reported certification is validated and given one out the following four validation statuses which determine a scoring weight for each coverage percentage:

  • Full Points: 1.0
  • Partial(+): 0.6
  • Partial(-): 0.3
  • No Points: 0

Each coverage percentage is multiplied by its associated weight and then summed up to give an overall coverage percentage per property type. This coverage percentage is then benchmarked against other coverage percentages from the same property type and region. The benchmark is split into quartiles, resulting in 2.5, 5, 7.5, 10 points. 12 points are given only when there is 100% coverage.

If there is an insufficient number of entities (minimum of 12) reporting certification coverages within the combination of region and property type, then the coverage is benchmarked globally within the property type. If there is an insufficient number of reporting entities within the property type, then static cut-off points of 25%, 50% and 75% are used.

BC1.1 and BC1.2 are firstly benchmarked and scored individually. The maximum points available for BC1.1 is 10 points and the maximum points available for BC1.2 is 12 points. The two scores are then added up and capped at a maximum of 12 points.

Level of certification is for reporting purposes only and not used for scoring

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

Examples

Answer structure: BREEAM/In Use, Very Good

  • Scheme name: BREEAM International
  • Sub-scheme name: In Use
  • Level of certification: Very good

Answer structure: LEED/Building Operations + Maintenance, Gold

  • Scheme name: LEED
  • Sub-scheme name: Building Operations + Maintenance
  • Level of certification: Gold

Energy Ratings

2017 Indicator

3 points , IM, E

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 10

Intent

This Indicator intends to assess the entity’s use of building energy ratings. Energy ratings are often government mandated and provide a measure of the energy efficiency performance of buildings. As such they enable tenants and investors to identify buildings that are both environmentally friendly and have low utility costs.

Terminology

Energy Rating: A scheme that measures the energy efficiency performance of buildings.

ENERGY STAR: A voluntary scheme designed by the US Environmental Protection Agency (EPA) that measures the energy efficiency of buildings. ENERGY STAR ratings are mandatory in some US cities and states.

EU Energy Performance Certificates (EPC): The Energy Performance Certificate regime introduced by the EU Energy Performance of Buildings Directive 2010.

Government energy efficiency benchmarking: An energy benchmarking scheme that is mandated by the government (e.g. mandatory for the asset’s jurisdiction) with a publicly disclosed rating, other than the EU EPC or NABERS Energy. For example: New York City’s Local Law 84, Washington, DC’s Clean and Affordable Energy Act of 2008, or California’s Assembly Bill 1103. Disclosure may be annual or coincident with financial transactions.

NABERS Energy: The National Australian Built Environment Rating System (NABERS) measures the energy performance of buildings.

Requirements

Select yes or no. If yes, complete the table. Only include energy ratings that were awarded before or during the reporting period (pre-assessments or other unofficial rating schemes are not valid). Some energy ratings are valid for a limited period only – the rating should be officially in effect during the reporting period.

Floor area weighted score: The average score of an energy rating is calculated based on all valid energy ratings within the portfolio per property type. The denominator in this calculation is the floor area for a specific property type, so not the total floor area for the whole portfolio. Only include the floor area of assets with a valid energy rating, exclude the floor area of assets without an energy rating from the denominator. The fields in which the floor area weighted score is reported allows participants to either report a single number, multiple numbers or text.

Government energy efficiency benchmarking: Only include benchmarking schemes mandated by the government with a publicly disclosed rating. This can include ENERGY STAR rated properties with a rating that is less than 75, as long as this rating is publicly available. Benchmarking schemes not mandated by the government (i.e., voluntary schemes), or any ratings that are not publicly disclosed, should be reported under “Other”.

Percentage portfolio covered by floor area: The percentage of the portfolio for a specific property type for which an energy rating was obtained (excluding pre-assessments or other unofficial rating schemes). The denominator in this indicator is the total floor area for a property type, not total floor area for the whole portfolio. Include the floor area of all assets for the property type in the dominator.

EU Energy Performance Certificates (EPC): Only include EPCs that were officially issued by the government agency or delegated authority authorized pursuant to the terms of the EPBD. Different calculation methods apply throughout Europe. For European countries where a “letter system” is used, use the related kWh to calculate the floor area weighted score and report the letter related to the outcome of your calculation. Alternatively, you can use the field to report individual EPC levels and the applicable percentage of the portfolio.

ENERGY STAR: The ENERGY STAR scoring system uses a rating scale from 1 to 100 points. Only report on assets with an official ENERGY STAR label, meaning with a score of 75 or higher and with a certificate issued by the US EPA.

NABERS: The NABERS system uses a rating scale from 1 to 6 stars (6 stars reflect market-leading performance, whereas 1 star reflects considerable room for improvement). Coverage (%) for each score category needs to be calculated based on the total floor area for the property type. The sum of the percentage coverage for the score categories needs to equal the overall percentage of portfolio by floor area. The floor area weighted score should be calculated using the NABERS program’s official Method for Calculating Average NABERS Rating.

Other: State the energy rating scheme. Other answers must be outside of the options listed in the question. GRESB may ask you a set of additional questions in order to validate the reported scheme.

Scoring

The portfolio coverages for each certification are added together within each property type,and then benchmarked against other coverage percentages from the same property type and region. The benchmark is split into quartiles, resulting in 0.75, 1.5, 2.25, and 3 points.

If there is an insufficient number of entities (minimum of 12) reporting energy rating coverages within the combination of region and property type, then the coverage is benchmarked globally within the property type. If there is an insufficient number of reporting entities within the property type, then static cut-off points of 25%, 50% and 75% are used.

GRESB does not score the quality of energy ratings, but only the coverage across countries.

This indicator is reported and scored separately for each property type. The total score of the indicator is calculated by taking a weighted average of the scores per property type weighted by the GAV percentage allocated to each property type in RC5.1

Examples

ENERGY STAR: 10% of the certified fraction of the portfolio received 85 points, 10% received 80 points, 30% received 75 points and 50% received 70 points.

Floor area weighted score: (10%*85 + 10%*80 + 30%*75) / 50% = 78 (round the obtained value to the closest whole number).

EU Energy Performance Certificate (EPC): Assets are located in the Netherlands:

  • Asset 1: 2000 m2, EPC A, EPC value 0.72
  • Asset 2: 1500 m2, EPC B, EPC value 1.12
  • Asset 3: 5000 m2, EPC B, EPC value 1.14
  • Asset 4: 1000 m2, EPC n/a, EPC value n/a
  • Asset 5: 500 m2, EPC E, EPC value 1.5
  • Floor area weighted score: (0.72*2000 + 1.12*1500 + 1.14*5000 + 500*1.5) / (2000 + 1500 + 5000 + 500) = 1.06 (Dutch EPC label B)

References

SASB-Real Estate Owners, Developers & Investment Trusts, March 2016: IF0402-04

Stakeholder Engagement

This Aspect focuses on engagement with employees, tenants, direct third-party suppliers and the community. Improving the sustainability performance of a real estate portfolio requires dedicated resources, a commitment from senior management and tools for measurement/management of resource consumption. It also requires the cooperation of other stakeholders, including tenants, suppliers, a participant’s workforce and the local community. The Aspect identifies actions taken to engage with those stakeholders and to characterize the nature of the engagement.

Employees

Employees are key stakeholders in any business. Organizations can make use of sustainability reporting metrics to boost employee engagement, motivation, recruitment and retention of talent, work-life balance, teamwork and leadership development. Employee engagement may also contribute to the successful implementation of sustainability best practices across the organization. Furthermore, proper understanding of workplace-related ESG issues, and how these issues are reported, will help the organization with its branding as an employer.

Note: There are situations where the entity benefits from services performed by employees of an investment manager under an exclusive investment management agreement. The individuals are wholly responsible for investment and portfolio management (including sustainability) of the participating entity's property assets, and has wide discretionary powers for day to day management of these investments (which include supervisory management powers over third party property managers). When these situations occur, you can refer to the employees of the investment manager as the employees of the reporting entity.

Suppliers

Indicators on engaging with suppliers have the purpose of comparing the entity’s management of ESG-related issues in its material and service supply chain. Negative supply chain-related ESG issues can pose a reputational risk, and can also put purchasing and contracting strategies at risk. Property companies and fund managers are in a strong position to influence the behavior of external property/asset managers and/or other external suppliers with regard to ESG issues.

Tenants/Occupiers

Tenant engagement is meant to increase the satisfaction of tenants and, with that, their likelihood of remaining in the building. The tenant/occupier is the person with whom the landlord of the property has a direct contractual relationship to occupy part or all of the building. In most cases, this will be a landlord/tenant relationship documented by a lease. However, it also includes occupiers that occupy on the basis of other types of contractual agreement, for example as a franchisee. The relationship between tenants and building owners is important both for securing and maintaining rental income as well as for managing risks that arise from the tenant/occupier’s use of the building.

Community

Local community is another important stakeholder groups of real estate companies. Indicators on community engagement examines the strategies used by the entity to involve with the local community.

Employees

2017 Indicator

2 points , IM, S

Intent

The intent of this indicator is to examine the types and content of training received by employees responsible for this entity. A more skilled and aware workforce enhances the organization’s human capital and may help to improve employee satisfaction. Both elements contribute to improved business performance.

Terminology

Community health and well-being: Training related to the promotion of stakeholder health and well-being in surrounding neighborhoods.

Community safety: Training related to the prevention of harm to stakeholder communities in surrounding neighborhoods.

Community social and economic impacts: Training related to the social and economic dimensions of stakeholder communities in surrounding neighborhoods.

Contamination: Land and groundwater pollution which may require action to reduce risk to people or the environment. As an example, contamination can be assessed through a Phase I or II Environmental Site Assessment.

Employee(s): Either the entity’s employees or the organization’s employees whose primary responsibilities include the operation or support of the entity.

Environmental issues: The impact on living and non-living natural systems, including land, air, water and ecosystems. This includes, but is not limited to, biodiversity, transport and product and service-related impacts, as well as environmental compliance and expenditures.

Energy efficiency: Refers to products or systems using less energy to provide the same consumer benefit.

GHG emissions: GHGs refers to the seven gases listed in the GHG Protocol Corporate Standard: carbon dioxide (CO2); methane (CH4); nitrous oxide (N2O); hydrofluorocarbons (HFCs); perfluorocarbons (PFCs); nitrogen trifluoride (NF3) and sulphur hexafluoride (SF6).

Natural hazards: Naturally occurring hazards, including but not limited to flooding, drought, hail storms, earthquakes and fire (including wildfire).

Professional training: Training related to day-to-day operations, health and safety, specialization career development courses, or related/similar topics. Training can be delivered in person, online or in other formats.

Regulatory standards: Training on (mandatory) energy/carbon disclosure schemes or other environment-related regulatory standards, at either local or global level.

Regular training: Occurs at least once every two years.

Social issues: Concerns the impacts the organization has on the social systems within which it operates.

Sustainability-specific training: Training related to environmental, social and governance (ESG) issues.

Waste management: Issues associated with hazardous and non-hazardous waste generation, reuse, recycling, composting, recovery, incineration, landfill and on-site storage.

Water efficiency: Refers to the conservative use of water resources through water-saving technologies to reduce consumption.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Percentage of employees covered: The percentage of employees covered based on headcount for employees responsible for the entity (see example). If the number of employees responsible for the entity changed during the reporting period, calculate the percentage based on the average number.

Training topics: Select the applicable training topics included in the training series during the reporting year or the year prior to that.

Other: State the environmental or social training topic(s). It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at organization level.

Examples

Both percentages should be calculated based on the following formulas:

    Number of employees receiving training / Total number of employees x 100%

    Number of employees receiving sustainability specific training / Total number of employees x 100%

Scoring

Points are awarded based on (1) the type of trainings and (2) percentage of employees who received training. The training topics are not scored and are used for reporting purposes only.

References

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.3, Employee Training and development

RobecoSAM Corporate Sustainability Assessment 2017: 3.3.2, Coverage

1.5 points , IM, S

Intent

This indicator is intended to show action taken to understand employee satisfaction. Employee satisfaction surveys help organizations understand critical issues within the business, engage with their staff and increase employee satisfaction, which may contribute to improving retention rates and overall productivity.

Using widely applied employee satisfaction surveys should be translated into easily interpretable metrics can help analyze and compare the outcomes, despite the many variations between firms.

Terminology

Employee(s): Either the entity’s employees or the organization’s employees whose primary responsibilities include the operation or support of the entity.

Employee satisfaction survey: Survey measuring overall and work-specific employee satisfaction at the individual and organizational levels. The survey should directly address employee concerns and include the opportunity to provide recommendations for improvement.

Net promoter score: The Net Promoter Score ® (NPS) is a customer loyalty metric developed by Bain & Company. It divides customers, tenants or employees into three segments: passives, detractors and promoters. The NPS is the percentage of promoters minus the percentage detractors.

Overall satisfaction score: An overarching metric in a satisfaction survey, with no prescribed scale, that measures how happy an employee or tenant is with the organization, lease, and/or services provided.

Quantitative metric: Any measure or parameter in employee satisfaction that can be represented numerically.

Survey response rate: The proportion of submitted surveys as a percentage of the total number of employees that received a request to complete a survey.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Percentage of employees covered: The percentage of employees covered based on headcount for employees responsible for the entity (see example). If the number of employees responsible for the entity changed during the reporting period, calculate the percentage based on the average number.

Survey response rate: Report the proportion of employees that received and completed the survey, compared to the total number of employees that have received the survey expressed as a percentage (see example).

Name of the organization: Provide the full name of the organization. You may be asked for additional information about the organization(s). It is possible to report on multiple organizations.

Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

The evidence should indicate that survey was conducted. It can be a sample survey or survey results reports with aggregated feedback.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at organization level.

Examples

Percentage of employees covered = Number of employees receiving the satisfaction survey / Total number of employees x 100%

Survey response rate = Number of individual surveys submitted / Number of employees receiving the satisfaction survey x 100%

Scoring

Points are awarded based on (1) selected answer options, and (2) percentage of employees covered. The survey response rate and the quantitative metrics sub-indicator are not scored.

It is not necessary to select all answer options in order to obtain the maximum score for this indicator. Reporting multiple names of organizations will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

References

GRI Sustainability Reporting Standards, 2016: 102-43, Approach to stakeholder engagement

Bain & Company, Introducing: The Net Promoter System®

1 point , IM, S

Intent

The intent of this indicator is to evaluate a firm’s response to the outcomes of an employee satisfaction survey. Proactive responses demonstrate commitment to the employee engagement process and to developing, maintaining and enhancing employee satisfaction.

Terminology

Action Plan: A detailed plan outlining actions needed to enhance tenant satisfaction. An action plan has three major elements (1) Specific tasks: what will be done and by whom; (2) Time horizon: when will it be done; (3) Resource allocation: what specific funds are available for specific activities.

Employee(s): Either the entity’s employees or the organization’s employees whose primary responsibilities include the operation or support of the entity.

Focus groups: Working groups established to, in this context, focus on improving employee satisfaction.

Senior Management Team: A team of individuals who have the day-to-day responsibility of managing the entity/organization. Senior management are sometimes referred to, within corporations, as executive management, executive leadership team, top management, upper management, higher management, or simply seniors.

Separate teams/departments: Representatives from different departments and disciplines within the organization.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Other: State measures/activities that were part of the program. It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at organization level.

Scoring

Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this question.

1 point , IM, S

Intent

The intent of this indicator is to evaluate whether the organization has the capacity to understand the health & well-being needs of its employees, on aggregate. A formal mechanism of understanding employee needs allows the organization to more effectively take action to promote employee health & well-being.

Terminology

Employee(s): Either the entity’s employees or the organization’s employees whose primary responsibilities include the operation or support of the entity.

Employee surveys on health and well-being: Written documents containing questions covering health and well being indicators or physical inspections on health and well-being issues. Topics covered can include, but are not limited to: personal health and well being, medical assistance at the workplace and housekeeping.

Physical and/or mental health checks: Physical and/or mental assessments of employees by a medical professional. Examples can include, but are not limited to: eye checks, cholesterol and blood pressure monitoring.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Percentage of employees: The percentage of employees offered to do a check or participate in a survey, etc.

Other: State the type of health and well-being check. It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at organization level.

Scoring

Points are awarded based on (1) selected health and well-being options and (2) average percentage of employees.

It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

References

GRI Sustainability Reporting Standards, 2016: 403-2

RobecoSAM Corporate Sustainability Assessment, 2017: 3.5.2, Risk Culture

0.5 points , IM, S

Intent

This indicator is intended to describe metrics collected by the organization to understand health, safety and productivity of employees responsible for this entity. Monitoring and reporting on occupational health and safety is an indicator of good management and allows for a continuous understanding of organizational health and safety issues. Maintaining records of the number of incidents among employees over time helps to analyze incidents and to identify areas where improvements are necessary.

Terminology

Absentee rate: A measure of absenteeism expressed as a percentage of total days scheduled to be worked by the workforce during the reporting period.

Employee(s): Either the entity’s employees or the organization’s employees whose primary responsibilities include the operation or support of the entity.

Injury rate: A measure of the total number of instances of being injured, (including occupational diseases and occupational disabilities, and fatalities) arising from operations expressed as a percentage of total number of employees.

Lost day rate: A measure of the impact of occupational accidents and diseases as reflected in time off work by the affected workers. It is expressed by comparing the total workdays lost due to occupational injury to the total number of hours scheduled to be worked by the workforce during the reporting period.

Reporting on health and safety indicators: Records of employee health and safety.

Workstation checks: Assessment of employee workstations (immediate working environment including desks, IT and other office equipment) performed to monitor compliance with health and safety requirements. The checks can either be performed internally or by independent third parties.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Open text box: It is mandatory to use the open text box to explain the applied calculation method/formula and monitoring scope of each of the selected metrics. The calculations should cover events arising from on-site operations, building maintenance and employees commuting to and from their workplace. Response provided in this open text-box used for scoring.

Construction works related metrics: Injuries and fatalities (including third-party workers, visitors, members of the public) that occur during construction or major renovation projects should be reported in the New Construction & Major Renovations Aspect (NC 12.2).

Other metrics: State the other indicator monitored. It is possible to report multiple other answers. Other indicators can include the occupational disease rate (ODR), near miss rate, presenteeism rate, and fatalities, but should not include answers provided in the New Construction & Major Renovations section (NC 12.2).

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at organization level.

Scoring

Points are awarded based on the number of health-related indicators monitored and/or tracked, contingent upon the validity of the explanation of the applied calculation method/formula provided in the open text box.

It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

References

RobecoSAM Corporate Sustainability Assessment, 2017: 3.5.2, Risk Culture

GRI Sustainability Reporting Standards, 2016: 403-2

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.6 H&S-Employee Health and Safety

Suppliers

2017 Indicator

3 points , MP, G

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 07

This Indicator is intended to describe the management practices and requirements the entity uses to manage supply chain risks. The procurement process is an effective way to integrate the organization’s sustainability-specific requirements into their supply chain. This indicator applies to existing and new contracts.

Terminology

Business Ethics: Basic moral and legal principles used to address issues such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities.

Environmental process standards: Minimum standards required during the procurement process in relation to environmental processes, such as requirements for disposal of waste generated by contractors.

Environmental product standards: Minimum standards required during the procurement process in relation to environmental products, such as requiring a certain percentage of products to be locally sourced or contain recycled content.

ESG-specific requirements for sub-contractors: Refers to any ESG-related requirements that the company or fund has included in its contracts with its sub-contractors, including specification and use of sustainable materials, systems, processes and operating practices.

External contractors: Organizations or persons working on-site or off-site on behalf of an organization with a relationship determined by a contract. A contractor may hire their own staff directly or hire sub-contractors or independent contractors.

External property/asset managers: Organizations or persons to which participants outsource some or all of their property and asset management functions.

External suppliers: Organizations or persons that provide a product or service used in the supply chain during the reporting period.

Human health-based product standards: Minimum standards for the health-related attributes of products, such as lists of prohibited chemicals.

Human rights: Human rights are rights inherent to all human beings, whatever their nationality, place of residence, sex, national or ethnic origin, colour, religion, language or any other status.

Occupational safety (for employees):Occupational safety focuses on the primary prevention of hazards within workplace. This includes the reduction of risk factors at the workplace leading to cancers, accidents, musculoskeletal diseases, respiratory diseases, hearing loss, circulatory diseases, stress related disorders and communicable diseases and others.

Sustainable procurement: Encourage, facilitate or require the reduction of consumption of goods within the building or premises and/or the sourcing of sustainable or ethical goods. Clauses can relate to reduction of paper consumption, supply of biodegradable materials, use of recycled paper, building materials, etc.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Other: State the other party to whom the requirements apply and/or the other topic included in requirements. “Tenants” will not be considered a valid other answer. It is possible to report multiple other answers for both the above sub-options.

Evidence: Document upload is mandatory for this indicator. The evidence should sufficiently support all the items selected for this question.

Evidence should support at least one element of the ESG procurement requirements applying to each stakeholder group selected. Evidence examples may include but are not limited to, Communication or redacted documentation/contract enforcing ESG procurement.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded to each selected party and are then aggregated to calculate the indicator’s final score.

Reporting multiple other answers will not impact scoring; reported answer options in this field will be validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

Points are contingent upon validity of the supporting evidence.

References

GRI Sustainability Reporting Standards, 2016: 204-1; 308, Supplier environmental assessment; GRI 414, Supplier social Assessment

RobecoSAM Corporate Sustainability Assessment, 2017: 3.5.2 Risk Exposure

Not scored , MP, G

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 07

Intent

The intent of this indicator is to assess whether the reporting entity effectively engage with its supply chains in order to deliver sustainable goals communicated in indicator SE4.1. A sustainable organization should be conscious of decisions and activities undertaken by its supply chains. A fair and inclusive process based on engaging suppliers should be developed to demonstrate the entity’s willingness to commit to ESG outside its own boundaries.

Terminology

Sustainable procurement: Encourage, facilitate or require the reduction of consumption of goods within the building or premises and/or the sourcing of sustainable or ethical goods. Clauses can relate to reduction of paper consumption, supply of biodegradable materials, use of recycled paper, building materials, etc.

Requirements

Select yes, no or not applicable. If yes, describe the process.

Open text box: Explain the engagement process carried out by the reporting entity with regards to the delivery of sustainable procurement goals. In order to be as effective as possible the process described should cover or respect the following criteria:

  1. Materiality: Include an estimation of the proportion of the reporting entity’s revenue spent through its supply chains.
  2. Clear purpose of the engagement: The text must explain how the entity ensures the clarity of its engagement with suppliers.
  3. Supplier’s interest: The text should include a description around the entity’s identification of supplier’s interests.
  4. Importance of interest:: Describe how the importance of suppliers’ interests is be respected throughout the engagement process.
  5. Necessary information: Describe how the reporting entity ensures that its suppliers benefit from the necessary information to base their decisions on.
  6. Balanced communication: Provide explanation around the entity’s ability to keep a two-way dialogue throughout its engagement with suppliers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

This indicator is not scored and is used for reporting purposes only.

References

ISO 20400, 2017: Sustainable Procurement

2 points , IM, S

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 07

Intent

This indicator examines the methods used by a participant to monitor property/asset managers’ compliance with the participant’s sustainability-specific requirements. Describe the entity’s actions to ensure that property/asset managers fulfill the entity’s ESG requirements.

Terminology

External property/asset managers: Organizations or persons to which participants outsource some or all of their property and asset management functions.

Internal property/asset managers: The part of the organization or persons that is/are responsible for the entity’s property and asset management functions.

Monitoring of property managers: Performance evaluation and incentives put in place for property managers to employ sustainable processes in their day-to-day work.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

Name of the organization: If you select the answer option “checks performed by independent third party,” also state the full name of the organization. You may be asked for additional information about the organization. It is possible to report multiple organizations.

Professional standard: If you select the answer option “require alignment with a professional standard,” also state the full name of the applicable standard.

Other: State the other method used for monitoring. It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded based on (1) selected answer options and validity of provided other answers and, if applicable, (2) the validity of the name of the organization(s) and (3) the validity of the professional standard.

Reporting multiple other answers will not impact scoring; reported answer options in this field will be validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

Points are contingent upon validity of the supporting evidence.

References

GRI Sustainability Reporting Standards, 2016: GRI 308; GRI 414; 414-1; 412-1

2 points , IM, S

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 07

Intent

This indicator examines the methods used by a participant to monitor direct/external suppliers’/service providers’ compliance with the participants ESG-specific requirements.

Terminology

Checks by the organization’s employees or by external property/asset managers: Formal, structured checks that assess the compliance with sustainability-specific requirements in place for that supplier.

Monitoring of external suppliers and/or service providers: Performance evaluation and incentives in place for external suppliers and/or service providers to employ sustainability related processes in their day-to-day work.

Regular meetings with suppliers: Meetings with suppliers that take place at least four times per year, addressing sustainability-specific requirements in place for that supplier.

Sustainability-specific requirements: This answer option refers to any sustainability requirements that the company or fund has included in its contracts with its suppliers and/or external property/asset managers.

Update reports: Written reports received from suppliers that address compliance with the sustainability-specific requirements in place for that supplier.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Name of the organization: Provide the full name of the organization. You may be asked for additional information about the organization(s). It is possible to report on multiple organizations.

Professional standard: If you select the answer option “require alignment with a professional standard”, also state the full name of the applicable standard.

Other: State the other method used for monitoring. It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded based on (1) selected answer options and validity of provided other answers and, if applicable, (2) the validity of the name of the organization(s) and (3) the validity of the professional standard.

Reporting multiple other answers will not impact scoring; reported answer options in this field will be validated individually, but scores will not be aggregated.

It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

Points are contingent upon validity of the supporting evidence.

References

GRI Sustainability Reporting Standards, 2016: GRI 308; GRI 414; 414-1; 412-1

RobecoSAM Corporate Sustainability Assessment, 2017: 3.5.2, Risk Exposure

Not scored , MP, S

Intent

The intent of this indicator of this indicator is to identify the existence of a grievance mechanism at the reporting entity. Even where organizations operate optimally, significant negative sustainability impacts in the supply chain, including human rights violations, may be caused by an organization’s procurement decisions and activities. Grievance mechanisms play an important role to provide an access to remedy and reflects an entity’s commitment to ESG management. An organization should establish a mechanism for stakeholders in the supply chain to bring this to the attention of the organization and seek redress.

Terminology

Accessible: Known to all stakeholder groups and provide adequate assistance for those who may face particular barriers to access (e.g. 24/7 availability)

Dialogue based: Looks for mutually agreed solutions through engagement between parties.

Equitable: Ensure that parties have reasonable access to sources of information, advice and expertise necessary to engage in a grievance process on fair, informed and respectful terms (e.g. independent review).

Grievance mechanism: Formal, legal or non-legal (or ‘judicial/non-judicial’) complaint process that can be used by individuals, communities and/or civil society organizations that are being negatively affected by certain business activities and operations. The process enables the complaining party to flag an issue, seek redress and remedy.

Improvement based: Drawing on relevant measures to identify lessons for improving the mechanism and preventing future harms.

Legitimate: Enable trust from stakeholder groups.

Predictable: Provide a clear procedure with an indicative time frame for each stage, and clarity on the types of process and outcome available.

Rights compatible: Ensure that outcomes accord with international norms of behavior.

Transparent: Keep parties informed about the progress.

Safe: Protect stakeholders from potential threats and retaliations through a secure, anonymous, independent and two-way communication system.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Other: State the other method used for the monitoring process. It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

This indicator is not scored and is used for reporting purposes only.

References

ISO 20400, 2017: Sustainable Procurement

UN Guiding Principles on Business and Human Rights

Human Rights and Grievance Mechanism

GRI Sustainability Reporting Standards, 2016: 103-2, The management approach and its components

Tenants/Occupiers

2017 Indicator

4 points , IM, S

Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 12.2

Intent

This indicator is intended to describe the entity’s approach to engaging tenants on ESG issues. It identifies whether the entity has adopted a formal tenant engagement program and identifies the issues covered. An effective tenant engagement program facilitates communication with the landlord and provides a path for tenant indicators, concerns and suggestions to be integrated into operational and ESG decision-making.

Terminology

Building/asset communication: Publications, dashboards, elevator messages, and newsletters addressing ESG-related issues.

Engagement meetings: Individual meetings with specific tenants/occupiers to discuss ESG-related issues.

Events focused on increasing sustainability awareness: Events addressing the above sustainability-specific issues. They can be either private or open to the public, but they cannot be individual meetings with specific tenants/ occupiers.

Social media/online communications: Online or social-media communications providing tenants/customs with information on ESG-related issues and opportunities for action.

Sustainability guide: A document written for tenants/customs providing practical guidance on ESG-related issues, including opportunities for action.

Sustainability-specific issues: Topics related to the management of environmental, social, or governance issues.

Tenant sustainability training: A formal and structured training program addressing ESG-related issues and opportunities for action.

Requirements

Select yes or no. If yes, select all applicable sub-options. You must provide the portfolio coverage for each selected responses.

Percentage of portfolio covered: Coverage is calculated based on floor area. If the floor area covered changed during the reporting period (for example because of a change in the number of tenants), use the floor area percentage applicable at the end of the reporting period. The denominator is the floor area of the whole portfolio. Select one of the four categories provided in the dropdown menu.

Other: State the issue included in the tenant engagement program. Other answers must be outside the options listed in the question. It is possible to report multiple other answers.

Reporting period: Answers must refer to the reporting period identified in EC3.

Reporting level: Answers should be applicable at entity level.

Scoring

Points are awarded based on (1) selected tenant engagement options and (2) percentage of portfolio coverage per answer option.

It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

References

SASB-Real Estate Owners, Developers & Investment Trusts (March 2016): IF0402-12

GRI Sustainability Reporting Standards, 2016: 102-43, Approach to stakeholder engagement

3 points , IM, S

Intent

This indicator examines whether and to what extent the organization engages with tenants regarding their satisfaction. Using consistently applied metrics can help analyze and compare the outcomes, despite the many variations between firms.

Terminology

Net Promoter Score: The Net Promoter Score ® (NPS) is a customer loyalty metric developed by Bain & Company, Fred Reichheld, and Satmetrix. It divides customers, tenants or employees into three segments: passives, detractors and promoters, using the following question “On a scale of 0 to 10, how likely would you be to recommend this company (or this product) to friends and colleagues?” In the original NPS ratings of 9 or 10 indicate promoters; 7 and 8, passives; and 0 through 6, detractors. There is also a European alternative, that classifies ratings of 8 to 9 as promoters, 6 to 7 as passives, and 0 to 5 as detractors. The NPS is the percentage of promoters minus the percentage detractors.

Overall satisfaction score: An overarching metric in a satisfaction survey, with no prescribed scale, that measures how happy an employee or tenant is with the organization, lease, and/or services provided.

Quantitative metric: Any measure or parameter in employee satisfaction that can be represented numerically.

Survey response rate: The proportion of submitted surveys as a percentage of the total number of employees that received a request to complete a survey.

Tenant satisfaction survey: A written survey conducted by the landlord, or by a third party on its behalf, which gives the tenant the opportunity to provide feedback on the space occupied.

Requirements

Select yes, no or not applicable. If yes, select all applicable sub-options.

Percentage of tenants covered: Calculated based on the number of tenants (e.g. organizations) in the portfolio that received the tenant satisfaction survey during the reporting period. If the number of tenants changed during the reporting period, use the number at the end of the reporting period. The denominator is the total number of tenants at portfolio level.

Name of the organization: Provide the full name of the organization. You may be asked for additional information about the organization(s). It is possible to report on multiple organizations.

Evidence: Document upload is mandatory for this indicator. The evidence should sufficiently support all the items selected for this question.

  • The evidence should indicate that survey was conducted. It can be a sample survey or survey results reports with aggregated feedback
  • Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) whether the survey was undertaken internally or by a third party, and (2) percentage of tenants covered. The survey response rate and quantitative metrics sub-indicator are not scored.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

    References

    GRI Sustainability Reporting Standards (2016): 102-43, Approach to stakeholder engagement

    Bain & Company, Introducing: The Net Promoter System®

    1 point , IM, S

    Intent

    This indicator examines how the organization responds to issues identified in tenant satisfaction surveys. Tenant satisfaction surveys are conducted to identify key issues and concerns, which can then be addressed through improvement measures and/or programs adopted by the landlord. Defining measures based on the outcome of the survey and implementing those measures demonstrates commitment to the tenant engagement process and to the development and maintenance of tenant satisfaction.

    Terminology

    Action Plan: A detailed plan outlining actions needed to enhance tenant satisfaction. An action plan has three major elements (1) Specific tasks: what will be done and by whom; (2) Time horizon: when will it be done; (3) Resource allocation: what specific funds are available for specific activities.

    Asset/property manager A person responsible for developing and overseeing financial and strategic developments of real estate investments at asset level.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Other: State the issue included in the program to improve tenant satisfaction. It is possible to report multiple other answers.

    Other: The elements covered by the program should be identified and described in detail.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded to each selected option and are aggregated to calculate the indicator’s final score. Reporting multiple other answers will not impact scoring, and it is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    The description provided in the open text box is for reporting purposes only.

    3 points , IM, E

    Intent

    This indicator assesses how the entity addresses ESG issues in the fit-out and refurbishment of tenant space. A fit-out and refurbishment program helps to align the views and actions of landlords and tenants during an early stage of the occupancy, prior to the tenant/occupier going into occupation. Guidance and support from the start of the lease reinforces the importance placed on ESG issues and creates the basis for sustainably operated buildings.

    Terminology

    Fit-out: Work to design, refurbish and decorate the tenant-occupied portions of the leased property.

    Fit-out and refurbishment assistance: Work to support or inform fit-out or refurbishment activities.

    Minimum fit-out standards: Basic requirements for tenant fit-out and refurbishment. If the landlord is responsible for all fit-outs and the landlord has minimum fit-out standards in place, select this answer and indicate the percentage of portfolio covered.

    Refurbishment: Renovation or redecoration works undertaken by a landlord or tenant.

    Tenant fit-out guide: A formal document providing tenants with information about landlord criteria and requirements for tenant fit-out of a leased building or part of a building, such as requirements for materials selection.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    If the landlord is responsible for the fit-out of the asset, you can select the second and the third options if the organization has set minimum sustainability thresholds for the fit-out of assets.

    Percentage portfolio covered: Coverage is calculated based on floor area. If the floor area covered changed during the reporting period (for example because of a change in the number of tenants), use the floor area percentage applicable at the end of the reporting period. The denominator represents the floor area of the whole portfolio. Select one of the four categories provided in the dropdown menu.

    Other: State the alternative topic included in the fit-out and refurbishment program. It is possible to report multiple other answers.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options and (2) percentage portfolio coverage per answer option.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    SASB-Real Estate Owners, Developers & Investment Trusts, March 2016: IF0402-12

    3 points , IM, E

    Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 13

    Intent

    This indicator is intended to describe strategies to promote ESG performance through lease contracts. The content of lease contracts is the starting point for the relationship between the landlord and the tenant, and defines both parties’ respective rights and duties.

    Terminology

    Comfort: Clauses can relate to cooperation between the parties to achieve comfort, including complaints monitoring, and programming of the building management system to maximise efficient supply of air-conditioning.

    Design/Development ratings: Encourage, facilitate or require the parties to commit to / not interfere with a design/development rating of the premises or building. Clauses can relate to achievement or maintenance of a rating, cooperating with the other party to assist them in obtaining a rating or in achieving a higher than previously achieved rating, sharing rating certificates when achieved or as requested, etc.

    Enabling upgrade works: Encouraging, facilitating or requiring the parties to upgrade the building or premises to improve the efficiency or environmental performance of the building during the term. Clauses can relate to cooperation between the parties to facilitate the carrying out of works designed to improve the efficiency or environmental sustainability of the building.

    Energy management: Clauses can relate to installation of metering equipment to measure energy consumption, programs to reduce the consumption of energy, including education of employees, sharing of energy consumption data between the parties, allowing a party to read the other’s energy meters, installation of energy efficient products, etc.

    Environmental Initiatives: Any type of initiative relating to environmental sustainability, such as recycling, green cleaning or land use ecology.

    Information sharing: Encourage, facilitate or require information sharing, related to energy or water consumption, production of waste or greenhouse gases, recycling rates, etc. Clauses can relate to providing the landlord access to the tenant’s meter, or to monthly automated reports being sent to both parties.

    Managing waste from works: Clauses can relate to the landlord accepting a make-good payment in lieu of reinstatement works, the monitoring/minimisation of waste from works, enabling fitout to be reused, recycled, repurposed, or redirected from landfill, etc.

    Performance rating: Clauses can relate to achievement or maintenance of a rating, cooperating with the other party to assist them in obtaining a rating or in achieving a higher than previously achieved rating, sharing rating certificates when achieved or as requested, etc.

    Performance standards: Clauses can relate to works and maintenance contractors being required to adhere to waste programs, or not to interfere with building performance.

    Premises design for performance: Clauses can relate to the design of the fitout so as to improve the efficiency or environmental sustainability of the building, fitout being built from recycled materials, the monitoring and/or minimisation of waste from works, fit out design that enables it to be reused at the end of the life of the lease, etc.

    Social initiatives: Encourage, facilitate or require initiatives that are designed to improve the wellbeing of the premises’/buildings' surrounding communities. Initiatives can relate to provision of healthy food, commitments to gender equity or diversity, health and safety or above-award pay for building management, responsible use of ground level and surrounding public space that results in enhancement of the surrounding community, etc.

    Standard lease contract: Standard lease format that is used by the organization as the basis for negotiations between landlord and tenant.

    Sustainability management collaboration: The lease must require one or both parties to appoint a representative responsible for sharing the sustainability-related information.

    Sustainable cleaning: Clauses can relate to cleaners being required to use environmentally friendly cleaning products, adhering to the building’s waste strategy, etc.

    Sustainable procurement: Encourage, facilitate or require the reduction of consumption of goods within the building or premises and/or the sourcing of sustainable or ethical goods. Clauses can relate to reduction of paper consumption, supply of biodegradable materials, use of recycled paper, building materials, etc.

    Sustainable transport: Clauses can relate to preparation of an alternative transport report, sharing of information relating to public transport, environmentally low impact transport, end of trip facilities, bicycle racks, car share services, etc.

    Sustainable utilities: Encourage, facilitate or require the parties to discuss procurement of more sustainable utilities/offsets, or install plant and equipment to enable the generation and on-sale of sustainable utilities. Clauses can relate to on-sale of electricity, gas or water, on-sale of certified renewable sources of a utility, installation of renewable energy plant and equipment, installation of recycled water facilities, etc.

    Waste management: Issues associated with hazardous and non-hazardous waste generation, reuse, recycling, composting, recovery, incineration, landfill and on-site storage.

    Water management: Clauses could relate to installation of metering equipment to measure water consumption, sharing of water consumption data between the parties, allowing a party to read the other’s water meters, installation of water efficient products, etc.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Other: State the alternative topic included in the standard lease contract. It is possible to report multiple other answers.

    Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this question.

    Points are contingent upon validity of the supporting evidence.

    References

    Better Building Partnership

    Leasing Lifecycle Tool

    Green Lease Library and Green Lease Leaders Recognition Program.

    SASB-Real Estate Owners, Developers & Investment Trusts, March 2016: IF0402-10

    1 point , IM, E

    Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 13

    Intent

    This Indicator examines management practices and controls used to monitor tenant compliance with specific ESG requirements established by the landlord. Best practice leases are becoming more common in the real estate sector. This indicator focuses on improving the extent of implementation of best practice leases and how real estate companies and portfolio managers monitor their existence throughout their portfolio.

    Terminology

    Compliance: Actions or performance consistent with sustainability-specific requirements in lease contracts.

    Sustainability-specific requirements: This answer option refers to any sustainability requirements that the company or fund has included in its contracts with its suppliers and/or external property/asset managers.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Open text box: Explain the internal monitoring process in place during the reporting period and possibly prior to that. This description should include (1) scope of the compliance monitoring (type of information/data monitored), (2) how and through which channels the information is collected (e.g. monthly reporting), structured and interpreted for monitoring purposes as well as (3) consequences in case of non-compliance (e.g. resolution process).

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Full, partial or no points are awarded to open text box responses. Responses are scored according to the requirements above.

    Community

    2017 Indicator

    3 points , IM, S

    Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 14

    Intent

    This indicator examines the strategies used by the entity to support communities associated with its operations. A structured and comprehensive approach to community engagement demonstrates the extent of integration of community engagement issues into the entity’s overall strategy.

    Terminology

    Assistance or support in case of disaster: Financial, social or other assistance required to respond to disaster situations, such as the formation of a disaster response team and training.

    Community: Persons or groups of people living and/or working in any areas that are economically, socially or environmentally impacted (positively or negatively) by the organization’s operations.

    Community concerns: Issues of importance raised by the community, that are causing social, mental or other distress.

    Community engagement: Community engagement refers to the communication, interaction, and formation of relationships between the entity and those groups.

    Enhancement programs: Programs designed to improve public spaces to increase accessibility and livability, and encourage greater community interaction and well-being.

    Health and well-being program: Program designed to address and increase the health and wellbeing of the local community.

    Public spaces: Refers to spaces that are open and accessible to the public for social and recreational use.

    Research and network activities: Activities and events organized for/with groups and members of the local community for the purpose of research and networking.

    Resilience: Preparedness of the built environment towards existing and future climate changes (i.e., the ability to absorb disturbances such as increased precipitation or flooding while maintaining its structure). This can be achieved by management policies, informational technologies, educating tenant, community, suppliers and physical measures at the asset level.

    Supporting charities and community groups: Providing financial, social or other support to local community groups and charities.

    Sustainability education program: A program designed to increase awareness and Knowledge of sustainability within the community.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Other: State the alternative topic included in community engagement. It is possible to report multiple other answers.

    Open text box: The open text box will not be used for scoring, but will appear in the Benchmark Committee for reporting purposes. Describe the community engagement program and the monitoring process. The description should refer to the applicable topics included in the community engagement program and elements below:

    1. Program objectives
    2. Examples of specific activities/projects
    3. Scope of the activities/projects

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this question.

    References

    EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.9

    1.5 points , IM, S

    Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 14

    Intent

    This indicator examines the areas considered by the entity to understand its impact on social and environmental conditions in communities associated with its operations. The operation of real estate assets can have positive or negative impacts on the local community. These impacts will often differ per property type. Monitoring helps an organization manage the impact of the operation of an asset on the community.

    Terminology

    Crime levels: The impact of the use of the asset and related facilities/direct surroundings on crime levels. For example, inadequate lighting or security may lead to increased crime levels including vandalism and theft.

    Housing affordability: Affordable housing refers to housing units that are affordable by the low-income section of society (for example, whose income is below the median household income).

    Livability score: A score designed to measure the standard of living, typically within a city.

    Local income generated: Contributing to local economic benefits, and creating business diversity and opportunities for economic development and innovation. For example, providing tax revenues.

    Local residents’ well-being: Includes health and safety of local residents that may be impacted by the asset’s operation. For example, noise pollution issues.

    Monitoring: A structured approach towards measuring and managing the impact of community engagement projects on the local community.

    Walkability score: A score designed to measure the walkability of a given address. In this context, within the surrounding community.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Other: State the other impact measure that is monitored. It is possible to report multiple other answers.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this question.

    References

    EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.9

    RobecoSAM Corporate Sustainability Assessment, 2017: 3.7.2, Valuation disclosure

    Green Star, Communities PILOT Version 0.1

    New Construction & Major Renovations

    Intent and Overview

    This Aspect addresses the entity’s efforts to address ESG-issues during the design, construction, and renovation of buildings. The built environment has a significant impact on ecological systems as well as the health, safety and welfare of communities. In addition, construction activities consume resources such as water and natural materials, while the construction process generates large quantities of waste. Integrating sustainability into construction activities can help mitigate this negative impact, and at the same time improve the environmental efficiency of buildings in the operational phase. By implementing sustainable best practices in construction activities, organizations can also positively impact local communities.

    Before you start with this Aspect, note that:

    This section should only be completed if the entity is involved in development of new construction (building design, site selection and/or construction) and/or major renovation projects, and had on-going projects or completed projects during the reporting period.

    Major renovations: Alterations that affect more than 50 percent of the total building floor area or cause relocation of more than 50 percent of regular building occupants. Major Renovation projects refer to buildings that were under construction at any time during the reporting period.

    New construction: Includes all activities to obtain or change building or land use permissions and financing. Includes construction work for the project with the intention of enhancing the property’s value. Development of new buildings and additions to existing buildings that affect usable space can be treated as new constructions and reported in RC-NC1. New Construction projects refer to buildings that were under construction at any time during the reporting period.

    Reporting in this Aspect should be based on the new development and major renovations projects reported in RC-NC1 and RC-NC2.

    Sustainability Requirements

    2017 Indicator

    1 point

    Intent

    This indicator is intended to describe the entity’s sustainability strategy for new construction and major renovation projects. A well-defined sustainability strategy for new construction and major renovation projects helps organizations to identify material issues and focus areas during the different phases of these projects.

    Terminology

    Biodiversity and habitat: Issues related to wildlife, endangered species, ecosystem services, habitat management, and relevant topics. Biodiversity refers to the variety of all plant and animal species. Habitat refers to the natural environment in which these plant and animal species live and function.

    Building safety: Environmental issues with the potential to create or exacerbate risks to human safety, such as structural failure.

    Climate change adaptation: Preparation for long-term change in climatic conditions or climate related events. Example of climate change adaptation measures can include, but are not limited to: building flood defenses, xeriscaping and using tree species resistant to storms and fires, adapting building codes to extreme weather events.

    Energy consumption/management: Fuel consumption or management of energy from renewable and non-renewable sources.

    Environmental attributes of building materials: Life-cycle environmental characteristics of the building materials, such as embodied carbon or water

    GHG emissions/management: GHG management refers to the management of GHG emissions. GHGs refers to the seven gases listed in the GHG Protocol Corporate Standard: carbon dioxide (CO2); methane (CH4); nitrous oxide (N2O); hydrofluorocarbons (HFCs); perfluorocarbons (PFCs); nitrogen trifluoride (NF3) and sulphur hexafluoride (SF6).

    Health and well-being: “Health is a complete state of physical, mental and social well-being, not merely the absence of disease or infirmity”(WHO). Health & well-being is impacted by genetics and individual behavior as well as environmental conditions. Particularly relevant to GRESB stakeholders are the social determinants of health, which are the “conditions in which people are born, grow, work, live and age, and the wider set of forces and systems shaping the conditions of daily life.” These are the conditions that enable or discourage healthy living. This could include issues such as physical activity, healthy eating, equitable workplaces, maternity and paternity leave, access to healthcare, reduction in toxic exposures, etc.

    Location and transportation: Location of a building in relation to pedestrian, bicycle, and mass transit networks, and existing infrastructure and amenities in the surrounding area.

    Resilience: Preparedness of the built environment towards existing and future climate changes (i.e., the ability to absorb disturbances such as increased precipitation or flooding while maintaining its structure). This can be achieved by management policies, informational technologies, educating tenant, community, suppliers and physical measures at the asset level.

    Supply chain: Sequence of activities or parties that provide products or services to the entity.

    Sustainability strategy: Strategy which (1) sets out the participant’s procedures and (2) sets the direction and guidance for an organization’s implementation of sustainability measures.

    Water consumption/management: Planning, developing, distributing and managing the optimum use of water resources.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Other: State the sustainability/ESG element included in the strategy. It is possible to add multiple other answers.

    Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on

    1. Specific description of the strategy, objectives and approach;
    2. The Strategy should apply to the entity level and should address all the elements selected from the list;
    3. Scope of implementation (e.g., all projects, some projects, select demonstrations).

    Evidence: Document upload or hyperlink. The evidence should sufficiently support all the items selected for this question. If a hyperlink is provided, ensure that it is not outdated and the relevant page can be accessed within two steps.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this question.

    The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

    The public availability of the sustainability strategy is credited with 0.5 points.

    References

    LEED BD+C: New Construction v4, Sustainable Sites, Location and Transportation

    3 points

    Intent

    This indicator examines the entity’s approach to sustainable site selection. Sustainable site selection helps to conserve land and protect farmland and wildlife habitat. The site selection process should be based on structured, predefined methodologies that include limits on the development of inappropriate sites or projects with a negative impact on the immediate surroundings, and on the environment in general.

    Terminology

    Aquatic ecosystems: Ecosystems such as coastal and riparian areas, wetlands and deepwater habitats that provide critical ecosystem functions for aquatic organisms, other wildlife and people.

    Farmland: Agricultural land, designated as such by a national, local, or intergovernmental authority (e.g., US Department of Agriculture, US Food and Agriculture Organization, Australian Department of Agriculture and Water Resources, French Ministry of Agriculture, Agrifood and Forestry).

    Floodplain functions: A floodplain is an area of land adjacent to types of waterways and watercourses (e.g., a stream or a river) that experience flooding during periods of high discharge. It functions as water storage, protects habitat and benefits water quality.

    Habitats for threatened and endangered species: Areas that contain habitat for plant and animal species identified as threatened or endangered by a national or intergovernmental authority (e.g., US Fish and Wildlife Service, Australian Department of Environment, EU Habitats Directive, European Red List of Threatened Species, and International Union for the Conservation of Nature).

    Locate projects within existing developed areas: Locate projects in existing previously developed areas or areas of infill.

    Multi-modal transit networks: Pedestrian, bicycle, and mass-transit networks.

    Redevelop brownfield sites: Brownfield sites are areas of land or premises that have been previously used, but has subsequently become vacant, derelict or contaminated. Brownfield sites typically require preparatory regenerative work before any new development goes ahead, and can also be partly occupied.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    (1) site selection criteria in place (2) alignment with third-party guidelines and/or rating systems, (3) selection requirements.

    Other: State the topic included in the site selection assessment.Criteria must be related to the site selection process for new construction projects. It is possible to add multiple other answers.

    Third-party guidelines: Specify the applicable guidelines. Examples include, but are not limited to: Sustainable Design Guidelines, such as Port Authority of New York & New Jersey or individual companies. These are not rating systems and do not have provisions for certification. However, they can be used to inform project development and delivery.

    Third-party rating system: Specify the applicable scheme(s)/sub-schemes(s). Examples include, but are not limited to: BREEAM International, New Construction; LEED v4, Building Design & Construction.

    Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

    If applicable, the evidence must provide information about alignment with third-party standards or rating systems.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options and validity of provided other answers, (2) validity of third party rating systems and/or guidelines or other alignment as well as (3) the validity of the evidence based on the requirements stated above.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    SITES v2 Rating System for Sustainable Land Design and Development

    LEED BD+C: New Construction, v4, Sustainable Sites, and Location & Transportation

    BREEAM International New Construction, 2013; and BREEAM Communities Manual, 2012

    1.5 points

    Indicator aligned with PRI Reporting Frameworkd 2018, Direct Property, PR 09

    Intent

    Sustainable site development requirements help to minimize the negative direct and indirect impact of construction sites.

    Terminology

    Manage waste by diverting construction and demolition materials from disposal: Support a low waste construction site and minimize down-cycling of materials with actions such as diverting, reusing or recycling construction and demolition materials.

    Manage waste by diverting reusable vegetation, rocks, and soil from disposal: Minimize the disposal of reusable vegetation, minerals, rocks and soil with actions such as using these materials as resources in site design or to produce compost.

    Protect air quality during construction: Protect air quality and reduce pollution by using construction equipment that reduces emissions of localized air pollutants and greenhouse gasses.

    Protect surface water and aquatic ecosystems by controlling and retaining construction pollutants: Protect receiving waters (including surface water, groundwater, and combined sewers or stormwater systems) with measures such as the creation and implementation of a stormwater pollution prevention plan or erosion and sedimentation control plan.

    Protect and restore habitat and soils disturbed during construction and/or during previous development: Support healthy plants, biological communities, water storage, and infiltration with actions such as the protection of on-site habitat, restoring disturbed soils, and supporting off-site land conservation.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    (1) site design/development criteria (2) alignment of site design/development criteria.

    Other: State the sustainable site design/development requirement. It is possible to add multiple other answers. Other answers include, but are not limited to “Reduce heat island effect”, “Reduce light effect”, “Manage storm water”, etc.

    Third-party rating system: Specify the applicable scheme(s)/sub-schemes(s). Examples include, but are not limited to: BREEAM International, New Construction, LEED v4, Building Design & Construction.

    Third-party guidelines: Specify the applicable guidelines.

    Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

    If applicable, the evidence must provide information about alignment with third-party standards or rating systems.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options and validity of provided other answers, (2) validity of third party rating systems and/or guidelines or other alignment as well as the validity of the evidence based on the requirements above.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    SITES v2 Rating System for Sustainable Land Design and Development

    LEED BD+C: New Construction, v4, Sustainable Sites; and Materials & Resources

    BREEAM International New Construction, 2013, 04 Management; and 11 Land Use; and BREEAM Communities Manual, 2012

    Materials and Certifications

    2017 Indicator

    2.5 points

    Intent

    This Indicator examines the entity’s strategy to understand and manage health and environmental risks associated with building material supply chains. Including environmental and health requirements in the selection of construction materials assists organizations with conserving resources, reducing waste and limiting the impact (including embodied carbon) of new buildings. It also mitigates health risks associated with the use of harmful materials.

    Terminology

    Environmental Product Declarations: Products and materials for which life-cycle information is publicly available and which have positive, sustainable, life-cycle impacts. An Environmental Product Declaration should conform to ISO 14025, 14040, 14044, EN 15804 or ISO 21931, or have publicly available, critically reviewed life-cycle assessment, confirming to ISO 14044.

    Health and environmental information: Fully disclosed and publicly available information about the human health and environmental impacts or characteristics of the products or materials used. (e.g., MSD sheets)

    Health Product Declarations: Products and materials for which the inventory of all ingredients used is publicly available, with a full disclosure of all known hazards and associated effects.

    Locally extracted or recovered: Materials that are extracted, harvested or recovered within a specified distance from the construction site.

    Low embodied carbon materials: Embodied carbon is the sum of all the carbon required to produce materials, considered as if that carbon was incorporated or embodied in the product itself. Also known as “low embodied energy materials.”

    Rapidly renewable materials: Materials made from agricultural products that are typically harvested within a 10-year or shorter cycle, such as bamboo, wool, cotton insulation, agrifiber, linoleum, wheatboard, strawboard and cork.

    Recycled content materials: Products made from pre-consumer and/or post-consumer material diverted from the waste stream.

    Third-party certified wood-based materials and products: Certification that encourages responsible and sustainable forest management. Certification bodies include, but are not limited to:

    • Forest Stewardship Council (FSC);
    • Programme for the Endorsement of Forest Certification (PEFC);
    • Sustainable Forestry Initiative (SFI).

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Other:

    1. Other types of health and environmental information: State the type of health and environmental information.
    2. Other: State the building product specification.

    Types of third-party certification used: Specify the third-party certification.

    Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

    Depending on the selected answer options, the document upload can represent a:

    1. Copy of the entity’s formal policy with respect to environmental attributes and performance of building materials, including specific information about individual requirements (e.g., red list) AND/OR
    2. Copy of the entity’s policy with respect to health attributes and performance of building materials AND/OR
    3. Copy of specific requirements for disclosure of health and environmental attributes from suppliers (e.g., embodied carbon, etc.) AND/OR
    4. Copy of specific building product specifications or certificates AND
    5. Information about compliance procedures (e.g., reporting, audit, job site accountability).

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options and validity of provided other answers, (2) validity of third party rating systems and/or guidelines or other alignment as well as (3) the validity of the evidence based on the requirements stated above.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    LEED BD+C: New Construction, v4, Materials & Resources

    BREEAM, International New Construction, 2013: 09 Materials

    SCS Ecolabels, Recycled Content, V6-0 Standard

    ISO 14021, Environmental labels and declarations

    GRI Sustainability Reporting Standards, 2016: GRI 301; 301-1; 301-2; 301-3

    2 points

    Intent

    This indicator is focused on green building rating standards utilized as part of the construction or major renovation process. Green building standards provides a measure of the intrinsic quality of the asset and its design in order to meet environmental standards requirements. Building certifications provide external assurance on the sustainability performance of an asset.

    Terminology

    Green building rating standard: A rating system/certificate for real estate assets that uses a wide set of environmental criteria. Successful completion of the rating assessment typically results in the award of a certificate that records (a) the completion of the rating assessment process and (b) the level achieved.

    Level of certification: The level achieved with successful completion of the rating scheme.

    Requirements

    Select year or no. If yes, also (1) select all applicable sub-options (2) select portfolio coverage and (3) specify:

    1. Green building standard: include all applicable green building rating systems AND/OR
    2. Green building certificates: include all applicable green building certificates AND/OR
    3. Level of certification: include all applicable rating systems and levels adopted as a standard by the entity.

    Portfolio coverage: Portfolio coverage is calculated based on floor area. The numerator is the floor area of to which the selected answer option applies. The denominator is the total floor area of all NC&MR projects as reported in RC-NC1.1 and RC-NC2.1. Project with multiple standard requirements should only report once, using the green building certification scheme that is most stringent in the region in which the project is located. The total combined portfolio coverage cannot exceed 100%.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options (2) percentage portfolio coverage and (3) validity of reported green building rating systems and/or certificates.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator

    5 points

    Intent

    This indicator is focused on green building rating standards utilized as part of the construction or major renovation process. Green building standards provides a measure of the intrinsic quality of the asset and its design in order to meet environmental standards requirements. Building certifications provide external assurance on the sustainability performance of an asset.

    Terminology

    Green Building Certificate: Recognition that a project has received a green building rating. A certificate indicates the name and location of the project, version of the rating system, date of certification, and level of recognition.

    Level of certification: The level achieved with successful completion of the rating scheme.

    Number of certified assets: The number of assets within the total portfolio for which green building certificates were obtained for projects (a) that are complete and/or (b) were in progress at the end of the reporting period.

    Scheme name: The name of the Green Building Certification scheme.

    Sub-scheme name: A Green Building Certificate’s sub-category to a Scheme name used to certify a particular property type and/or to specify the type of building certificate (whether a Green Building Certificate is an Operational Green Building Certificate or a New Construction Green Building Certificate).

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Scheme name and sub-scheme name: Select from the dropdown list or add a new scheme name and a sub-scheme name (if applicable).

    Only include green building certificates that were awarded before or during the reporting period. Participants may list pre- or interim- assessments conducted by the official certification authority, but this needs to be designated in the sub-scheme name. Unofficial forms of pre-certification are not valid.

    Some green building certificates are valid for a limited period only – the certificate should be effective and official during the reporting period.

    Level of certification: Report the level of certification. In the case multiple levels are applicable, report them separately, divided by a comma. (see below Examples)

    Projects registered to obtain a green building certificate: Report projects that have registered with the certification body to obtain (but not yet achieved) a green building certificate by the end reporting period.

    Projects that obtained a green building certificate: Report projects that have obtained a green building certificate by the end of reporting period

    Portfolio coverage: Portfolio coverage is calculated based on floor area. The numerator is the floor area of to which the selected answer option applies. The denominator is the total floor area of all NC&MR projects as reported in RC-NC1.1 and RC-NC2.1. Projects with multiple standard requirements should only report once, using the green building certification scheme that is on the most stringent in the region in which the project is located. The total combined portfolio coverage cannot exceed 100%.

    Only report certification for building design, development and structure.

    Number of certified projects: The number should be smaller than or equal to the number of reported assets in either RC-NC1.1 or RC-NC2.1.

    Scoring

    Each reported certification is validated and given one out the following four validation statuses which determine a scoring weight for each coverage percentage:

    • Full Points: 1.0
    • Partial(+): 0.6
    • Partial(-): 0.3
    • No Points: 0

    Each coverage percentage is multiplied by its associated weight and then summed up to give an overall coverage percentage. This coverage percentage is then benchmarked against other coverage percentages from new construction and major renovation portfolios.

    Examples

    Answer structure: BREEAM/New Construction (Interim), Very Good

    • Scheme name: BREEAM International
    • Sub-scheme name: New Construction (Interim)
    • Level of certification: Very good

    Answer structure: LEED/New Construction (precertification), Gold

    • Scheme name: LEED
    • Sub-scheme name: New Construction (precertification)
    • Level of certification: Gold

    References

    EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: Cert-Tot, CRE8

    Energy Efficiency

    2017 Indicator

    3 points

    Intent

    This Indicator is intended to describe the entity’s strategy to integrate energy efficiency measures throughout design and construction activities. Implementing energy efficiency measures in the design and construction of a building contributes to reducing the energy consumption of the building during the operational phase.

    Terminology

    Air conditioning: Refers to energy efficient air-conditioning units, such as those rated with a high energy efficiency rating, and secondary measures to promote efficiency, such as strategic location and integration into building functionality design.

    Commissioning: Quality-orientated review and verification process during the design and construction phase, to ensure that the performance of facilities, systems and assemblies meet defined objectives during the operational phase.

    Energy codes or standards: Energy requirements set in building codes and standards such as US Energy Efficiency standards and International Energy Conservation Code (2012).

    Energy modeling: Refers to a virtual or computerized simulation of a building that can be used to estimate the energy use of a building and evaluate its energy efficiency.

    Energy use analytics: Analysis of energy use to determine discrepancies between baseline and actual energy use. Energy use analytics help determine whether energy use targets are reached, and can highlight opportunities to improve energy efficiency.

    Integrative design: A design process that considers and involves multiple aspects, stakeholders and functions, instead of addressing each separately, to align and achieve objectives.

    Lighting: Energy efficient lighting refers to units such as those rated with a high-energy efficiency rating. Common energy efficient lighting includes: LEDs, CFLs and halogen incandescents. It also includes aspects such as sensors, timers, and the promotion of natural daylight, to reduce the amount of light energy consumed.

    Occupant controls: Individual controls for heating, cooling and other building systems. They support individual comfort of building occupants, while reducing energy consumption. Occupant controls also enable occupants to respond rapidly to alleviate discomfort when it is experienced.

    Operational energy efficiency monitoring: Monitoring of energy consumed during the operational phase of a building. The operational energy consumption of buildings leads to substantial environmental impact. Monitoring consumption is an important basis for reducing this impact.

    Post-construction energy monitoring: Monitoring of energy consumption during the operational phase of the building, to identify that energy use objectives are being met.

    Requirements for planning and design: Legislative requirements such as planning obligations, building codes and standards.

    Space heating: Energy efficient space heating systems for internal spaces within a building. This includes energy efficient mechanical systems, and maximizing the maintenance of internal heating via insulation, seals and windows and doors

    Sub-meter: A system that allows the measurement of utility use by an individual occupant within a multi-tenant property, such as individual electricity meters.

    Ventilation: The process of supplying and removing air through an indoor space. Energy efficient ventilation refers to the use of efficient mechanical or natural ventilation systems.

    Water heating: Energy efficient water heating systems such as those with a high-energy efficiency rating, including those which are demand-based, that do not lose energy on stand-by heating. Also includes efficient hot water distribution systems to reduce energy losses throughout the building.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Other:

    1. Requirements for planning and design: Describe the entity’s requirement for planning and design. Energy efficiency measures: State the energy efficiency measure.
    2. Performance verification: Describe the entity’s actions to verify delivered performance.
    It is possible to add multiple other answers.

    Post-construction monitoring: If the entity has requirements on post-construction performance monitoring, please specify the required number of years. If the entity monitors performance for an infinite period, please enter “100”.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options for design, measures, and monitoring indicators and (2) validity of provided other answers.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    SITES v2 Rating System

    BREEAM, International New Construction, 2013: 09 Materials

    LEED BD+C: New Construction, v4: Sustainable Sites and Materials & Resources

    BREEAM International New Construction, 2013: 04 Management and 11 Land Use; and BREEAM Communities Manual, 2012

    3 points

    Intent

    This Indicator intends to assess entity’s involvement in the design of on-site renewable energy generation. On-site renewable energy generation reduces environmental and economic impacts associated with fossil fuel energy use.

    Terminology

    Biofuels: Liquid of gaseous fuels, such as bioethanol and biodiesel, which are made from biomass.

    Geothermal energy: Energy from heat generated by the earth’s matter (e.g. ground pump heating systems). This includes geothermal storage.

    Hydro energy: Energy generated by the gravitational force of falling or flowing water.

    On-site renewable energy: Any source of energy produced at the site that can be used without depleting reserves, including energy from the sun, wind, water and the earth’s core. Technologies should be available onsite, such as photovoltaic panels, wind turbines, transpired solar collectors, solar hot water heaters, small-scale hydroelectric power plants, ground pump heating systems, etc.

    Solar/photovoltaic energy: Energy generated from solar heat and/or radiant light. This includes solar water heating. Photovoltaic energy results from the conversion of the sunlight by using solar panels or semiconductors.

    Wind energy: Energy generated from wind power by using wind turbines.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Other: State the on-site renewable source. It is possible to add multiple other answers. Note that:

    1. On-site renewable sources do not include off-site generation, the use of green power, renewable energy credits (RECs) or carbon offsets.
    2. Co-generation and tri-generation systems are not seen as renewable energy sources. Although they may produce low-carbon energy, these systems typically use fossil fuels (e.g., natural gas).

    Average design target for the fraction of total energy demand met with on-site renewable energy: Percentage of energy demand that by design should be provided by on-site renewable energy. The numerator is the total design capacity of all reported on-site renewable energy sources. The denominator is total energy demand for all projects reported in RC-NC1.1 and RC-NC2.1.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options and validity of provided other answer, (2) percentage of all projects.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    In 2018, the average design target will be for reporting purposes only.

    References

    LEED BD+C: New Construction, v4, Energy & Atmosphere

    BREEAM, International New Construction, 2013: 06 Energy

    SASB-Real Estate Owners, Developers & Investment Trusts, March 2016: IF0402-02

    1 point

    Intent

    This Indicator intends to examine the entity’s approach to define and achieve net-zero energy performance for its new construction and renovation projects.Net-zero energy (NZE) standards assist organizations with achieving zero greenhouse gas emissions, through energy-efficient design and the use of renewable energy technologies, on a net-zero energy basis. Net-zero standards are increasingly part of building codes.

    Terminology

    Net-zero energy: A net-zero energy building relies on energy-efficient design and renewable sources to produce as much energy as it consumes, usually measured over the course of a year.

    Requirements

    Select yes or no. If yes, complete:

    1. Description of the entity’s definition of ‘net-zero energy’ AND
    2. Description of the applicable reference code of standard
    3. State the percentage of the projects achieving the entity’s definition of “net-zero energy”.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) the validity of the provided descriptions, (2) the percentage of projects covered.

    References

    LEED BD+C: New Construction, v4, Energy & Atmosphere

    BREEAM, International New Construction, 2013: 06 Energy

    National Renewable Energy Laboratory

    ICC IECC: 2012 International Energy Conservation Code

    International Energy Agency: SHC Task 40

    Water Conservation and Waste Management

    2017 Indicator

    2 points

    Intent

    This Indicator intends to assess the entity’s strategy to water conservation through design and construction. Implementing water efficiency measures in the design and construction phases of a building contributes to reducing the water consumption of the building during the operational phase.

    Terminology

    Net-zero energy: A net-zero energy building relies on energy-efficient design and renewable sources to produce as much energy as it consumes, usually measured over the course of a year.

    Drip/smart irrigation: Drip irrigation systems save water by irrigating, fertilizing and aerating trees, shrubs, plants and bushes directly at the roots. Smart irrigation systems save water by adjusting the watering schedule and amount of water used for irrigation based on a variety of factors and inputs, including weather, plant species and soil type.

    Drought tolerant/low-water landscaping: Reduction of water use through landscaping characteristics such as areas requiring little to no irrigation.

    Dry fixtures: Fixtures that do not require the use of water, such as composting toilet systems and waterless urinals.

    Grey water: Wastewater generated from hand basins, showers and other water-using devices and equipment.

    High-efficiency fixtures: Appliances and plumbing equipment that conserve water without compromising performance (also known as “ultra-low-flow” fixtures).

    Indoor water: Water use that occurs within the constraints of the building interior.

    Integrative design: A design process that considers and involves multiple aspects, stakeholders and functions, instead of addressing each separately, to align and achieve objectives.

    Leak detection system: Systems that detect water leaks. Examples can include, but are not limited to: condensate water overflow, chiller water leaks, plumbing line cracks, heating/cooling piping leaks and outside seepage.

    Non-potable applications: Use of non-potable water in applications such as toilet flushing and cooling tower make up water

    Occupant sensors: Motion sensor devices that turn water fixtures on (or off) in response to the presence (or absence) of people.

    On-site wastewater treatment: Process of water decontamination as a consequence of any anthropogenic, industrial or commercial use, before the water is released again into the environment or is re-used.

    Operational water efficiency monitoring: Monitoring of water consumed during the in-use phase of a building’s life. The operational water consumption of buildings leads to substantial environmental impact. Monitoring consumption is an important basis for reducing this impact.

    Outdoor water: Water use that occurs outside of the building structure.

    Post-construction water monitoring: Monitoring of water consumption during the operational phase of the building, to identify that water conservation objectives are being met.

    Process water: Water that is used for building systems and industrial processes, such as cooling towers, boilers, and chillers. It can also include water used for operational processes, such as dishwashing.

    Requirements for planning and design: Legislative requirements such as planning obligations, building codes and standards.

    Stormwater: Water that collects during precipitation, which can be stored on-site for eventual reuse for non-potable applications. Examples can include, but are not limited to: landscape irrigation and/or flush fixtures.

    Sub-meter: A system that allows the measurement of utility use by an individual occupant within a multi-tenant property, such as individual electricity meters.

    Water conservation: The standards, strategies and actions to manage and conserve water in a sustainable manner.

    Water efficiency measures: Actions undertaken to reduce water consumption and improve efficient use of water as a sustainable resource.

    Water supply: Provision of surface water, groundwater, rainwater collected directly or stored by the organization, waste water from another organization, municipal water supplies or other water utilities, usually via a system of pumps and pipes.

    Water use analytics: Analysis of water use to determine discrepancies between baseline and actual energy use. Water use analytics help determine whether water use targets are reached, and can highlight opportunities to improve water efficiency and conservation.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Other:

    1. Requirements for planning and design: State the requirement for planning and design.
    2. Water efficiency measures: State the water efficiency measure.
    3. Operational water efficiency monitoring: State the operational water efficiency monitoring type.

    Evidence: Document upload is mandatory. The evidence must demonstrate the promotion of water efficiency requirements and the elements that it covers. Depending on the selected answer options, the document upload must include information on the selected options of "Requirements for water efficient planning and design" (e.g., RFP language requesting integrated design process, above code design).

    Post-construction monitoring: If the entity has requirement on post-construction performance monitoring, please specify the required number of years. If the entity monitors performance for an infinite period, please enter “100”.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are based on (1) selected answer options and validity of provided other answers, (2) validity of the evidence based on the requirements stated above.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    LEED BD+C: New Construction, v4, Indoor Environmental Quality/p>

    BREEAM, International New Construction, 2013: 08 Water

    GRI Sustainability Reporting Standards, 2016: 303, Water

    2 points

    Intent

    This Indicator is intended to describe the entity’s strategy to manage waste from construction and demolition. A waste policy assists organizations with reducing waste from construction and demolition disposed of in landfills and incineration facilities, by recovering, reusing and recycling materials.

    Terminology

    Construction waste signage: Visible signage that clearly indicates the process of properly dealing with waste generated during construction.

    Education on waste management: Educating employees, contractors and crews on materials recovery techniques and procedures, such as sorting and storage methods, recoverable materials and removal techniques.

    Hazardous waste: A solid waste, or combination of solid wastes, which because of its quantity, concentration, or physical/chemical/infectious characteristics may either cause, or significantly contribute to an increase in mortality/serious irreversible illness. Hazardous waste might also pose a substantial present or potential hazard to human health or the environment when improperly treated, stored, transported, disposed of, or otherwise managed.

    Incentives for contractors: Incentives, for example, to allow contractors and crews to retain a portion of revenues and/or savings from materials recovery and sales.

    Management and construction practices: Measures and strategies implemented by management and construction employees throughout the construction project.

    Non-hazardous waste: Waste that does not have the potential to cause harm to humans, animals or the environment.

    On-site waste monitoring: Monitoring of waste generated during the design and construction phase of the building, to identify that waste generation and disposal objectives are being met.

    Recovering building materials: Diverting building material waste from landfill by recovery of the material from site to be recycled or sent for energy recovery.

    Recycling building materials: Diverting building material waste from landfill to an on or off-site recycling facility.

    Reusing building materials: Diverting building material from landfill by reemploying the material on site or on other approved sites in the same or related capacity as their original application.

    Waste stream: The complete flow of waste from generation to final disposal.

    Waste management plan: Plan that addresses the collection and disposal of waste generated during construction or renovation, usually including the collection, transfer, treatment and disposal of a variety of waste types.

    Waste separation facilities: A designated facility where waste is separated into different elements to be correctly disposed of, recycled, or otherwise managed.

    Requirements

    Select yes or no. If yes, select all applicable sub-options for (1) management and construction practices (2) on-site waste monitoring.

    Other:

    1. Management and construction practices: State the waste management practice.
    2. On-site waste monitoring: State the type of waste monitored.

    Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

    The evidence must demonstrate the promotion of efficient on-site solid waste management and the elements that it covers. Depending on the selected answer options, the document upload should include:
    1. Waste management plan or requirements typically provided to contractors (e.g., RFP language, etc.) including the selected answer options AND/OR
    2. Information about practices used to measure or monitor on-site waste monitoring during the construction phase of its applicable projects.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options for design, measures, and monitoring indicators and (2) validity of provided other answers.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    LEED BD+C: New Construction, v4, 09 Material & Resources

    BREEAM, International New Construction 2013, 10 Waste

    EPA, Resource Conservation and Recovery Act, Construction Sector (NAICS 23)

    GRI Sustainability Reporting Standards (2016): 303, Effluents and Waste

    Supply Chain

    2017 Indicator

    2 points

    Intent

    This Indicator examines the entity’s strategy to ensure contractors support the entity’s ESG objectives and follow ESG management requirements. Sustainability-specific requirements for contractors can ensure proper implementation of the entity’s sustainability policies for new construction and major renovation projects. Relationships with contractors and the written agreements that define those relationships make sustainability requirements enforceable upon a wider range of stakeholders.

    Terminology

    Environmental process standards: Minimum standards required during the procurement process in relation to environmental processes, such as requirements for disposal of waste generated by contractors.

    Environmental product standards: Minimum standards required during the procurement process in relation to environmental products, such as requiring a certain percentage of products to be locally sourced or contain recycled content.

    Human health-based product standards: Minimum standards for the health-related attributes of products, such as lists of prohibited chemicals.

    Human rights: Human rights are rights inherent to all human beings, whatever their nationality, place of residence, sex, national or ethnic origin, colour, religion, language or any other status.

    On-site health and safety: Requirements that focus on protecting the safety, health and welfare of people engaged in construction work.

    ESG-specific requirements: Includes specification and use of sustainable and energy efficient materials, systems, equipment and onsite operating practices, e.g. regarding access to the site, environmental impact, community impact, health and safety, etc..

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Percentage of all projects: Provide the percentage of all projects covered. The numerator is the floor area of the projects for which the applicable requirements are in place. The denominator is the total floor area of all projects reported in RC-NC1.1 and RC-NC2.1.

    Other: State the sustainability-specific requirement. It is possible to add multiple other answers.

    Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

    The evidence must demonstrate the existence of the ESG requirements for its contractors in development projects. An example is a copy of contractor requirements (e.g., contract language or RFP).

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options for design, measures, and monitoring indicators and (2) validity of provided other answers.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    BREEAM, International New Construction, 2013: 04 Management

    United Nations Universal Declaration of Human Rights, 1948

    EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.6, H&S-Employee health and safety

    2 points

    Intent

    Monitoring measures ensure that contractors comply with the contractual specifications and requirements regarding sustainability issues.

    Terminology

    Ad hoc site visits: Visits without advance notice.

    Audits: A systematic review and assessment performed by qualified personnel to determine by investigation, examination, or evaluation of objective evidence, the adequacy and compliance of the contractors with the sustainability-specific requirements.

    Environmental issues: The impact on living and non-living natural systems, including land, air, water and ecosystems. This includes, but is not limited to, biodiversity, transport and product and service-related impacts, as well as environmental compliance and expenditures.

    National or international standard: Standard related to environmental management, e.g. ISO 14001, etc.

    Social aspects: Includes increased noise, traffic congestion, lack of housing, resettlement requirements or pressure on access to local services that arise from influx of personnel, site development work or operational processes that are new to the area, etc.

    Requirements

    SSelect yes, no, or not applicable if you answered no to NC10.1. If yes, select all applicable sub-options including the additional information requested.

    Percentage of projects audited: Provide the percentage of all projects covered. The numerator represents the floor area of the projects for which the applicable requirements are in place. The denominator is the total floor area of all projects reported in RC-NC1.1 and RC-NC2.1.

    External audits by third party: Report the name of the organization that performed the audit. You may be asked for additional information about the organization. It is possible to report multiple organizations for transparency purposes, however scores will not be aggregated.

    Other: State the method of monitoring. It is possible to add multiple other answers.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options for design, measures, and monitoring indicators and (2) validity of provided other answers.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    ISO 14001, Environmental Management Standard

    SITES v2 Rating System

    LEED BD+C: New Construction, v4, Sustainable Sites

    BREEAM International New Construction, 2013; and BREEAM Communities Manual, 2012

    RobecoSAM Corporate Sustainability Assessment, 2017: 3.5.5, ESG integration in supply chain strategy

    Health, Safety and Well-being

    2017 Indicator

    2 points

    Intent

    This Indicator is intended to describe the entity’s strategy to design and build buildings that promote occupant health and well-being. Buildings designed with occupant health and well-being in mind lead to increased employee satisfaction and greater productivity.

    Terminology

    Access to spaces for active and passive recreation: Access to spaces designated for recreation, including but not limited to green spaces, picnic areas, sport facilities, or children’s playgrounds.

    Active design features: Design features specifically aimed to positively contribute towards occupant health and well-being, e.g. centrally located staircases to get occupants to be more active.

    Commissioning: Quality-orientated review and verification process during the design and construction phase, to ensure that the performance of facilities, systems and assemblies meet defined objectives during the operational phase.

    Daylight: The capacity of a building to provide maximum daylight exposure to occupants, via building design (e.g. angle of orientation, number of and size of windows) and material (e.g. reflective coatings) features. Maximizing daylight exposure not only benefits occupant health and well-being, but also can reduce the need for artificial light, and therefore energy expenditure.

    Health Impact Assessment: A mean of assessing the health impacts of policies, plans and projects using quantitative, qualitative and participatory techniques.

    Indoor air quality:The physical or biological characteristics of air within buildings. Indoor air quality (IAQ) is typically the product of outdoor quality mediated by the design and operation of building systems.

    Indoor air quality monitoring: The process of monitoring the fluctuations in IAQ, to promote efficient and successful IAQ maintenance and improvement. Monitoring can occur via portable or fixed sensors to measure a range of air pollutants.

    Integrated planning process: A planning process that considers and involves multiple aspects, stakeholders and functions, instead of addressing each separately, to align and achieve objectives.

    Natural ventilation: The process of supplying and removing air through an indoor space without using mechanical systems. There are two types of natural ventilation occurring in buildings: wind driven ventilation and buoyancy-driven ventilation.

    Occupant controls: Individual controls for heating, cooling and other building systems. They support individual comfort of building occupants, while reducing energy consumption. Occupant controls also enable occupants to respond rapidly to alleviate discomfort when it is experienced.

    Occupant education: Education and training of building occupants to increase knowledge on sustainability principles and the benefits to their health and well-being, including behavioral change and techniques

    Occupant well-being: Health and comfort of building occupants. Healthy indoor environments (including indoor air quality, thermal comfort, lighting, visual quality and acoustic performance) are an essential part of realizing the potential benefits of occupant well-being.

    Post-construction health and wellbeing monitoring: A structured approach towards measuring and managing the health and well-being of occupants, such as occupant comfort and satisfaction.

    Provisions for active transport: Active transport is transport via walking or bicycling. Provisions for active transport include designating safe and accessible pedestrian walkways as a building design measure, bike storage areas and shower facilities.

    Requirements

    Select yes or no. If yes, select all applicable sub-options for (1) requirements for planning and design (2) common occupant health and well-being measures, (3) operational occupant health and well-being verification provisions and.

    Other:

    1. Requirements for planning and design: State the requirement for planning and design.
    2. Occupant health and well-being measure: State the health and well-being measure. Measures should be related to the physical building. Location-related measures (e.g., walkability, proximity to public transport or to nearby amenities) are not valid.
    3. Occupant health and well-being monitoring: State the health and well-being measure.
    It is possible to add multiple other answers.

    Evidence: Document upload or document name and date. The evidence should sufficiently support all the items selected for this question. In the absence of an upload, providing the document name AND date of publication is mandatory, and you may be asked to disclose the document to GRESB as part of the validation process.

    The evidence must demonstrate the promotion of occupant health and well-being and the elements selected of health and well-being "Requirements for planning and design". Examples of acceptable uploads include but are not limited to a description of typical project requirements (e.g., RFP language, owners project requirements, similar).

    Post-construction monitoringIf the entity has requirement on post-construction performance monitoring, please specify the required number of years. If the entity monitors performance for an infinite period, please enter “100”.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options and validity of provided other answers, (2) validity of the evidence based on the requirements stated above.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    LEED BD+C: New Construction, v4, Indoor Environmental Quality

    BREEAM, International New Construction, 2013: 05 Health and well-being

    GRI Sustainability Reporting Standards, 2016: GRI 416; 416-1

    1 point

    Intent

    The dangerous nature of project construction work and some building services work can lead to hazardous and harmful events, such as incidents, injuries, and fatalities. These have the potential to undermine a business’ brand and long-term success. Occupational health and safety (OHS) performance can be seen as a key measure of an organization’s duty of care. Monitoring of and reporting on on-site occupational health and safety is an indicator of prudent risk management.

    Terminology

    On-site health and safety: Requirements that focus on protecting the safety, health and welfare of people engaged in construction work.

    Requirements

    Select yes or no. If yes, select all applicable sub-options for (1) promotion means and (2) requirements and standards.

    Other: State the alternative means applied to promote on-site health and safety. It is possible to add multiple other answers.It is possible to add multiple other answers.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options and validity of provided other answers, (2) validity of the evidence based on the requirements stated above.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    BS OHSAS 18001/18002, Occupational Health and Safety Management

    ISO 9001, Quality Management Systems; and ISO 14001, Environmental Management System

    ILO-OSH 2001, Guidelines on Occupational Safety and Health Management Systems

    NAICS 23

    GRI Sustainability Reporting Standards, 2016: GRI 403 Occupational health and safety

    1 point

    Intent

    Monitoring of and reporting on on-site health and safety is an indicator of prudent risk management. Keeping records of the number of incidents, injuries and fatalities over time helps to identify patterns that can guide the implementation of measures needed to minimize health and safety risks.

    Terminology

    Fatalities: The death of a worker arising from an occupational injury or disease sustained or contracted while in the organization’s employ.

    Injury: Any instance of being injured, (including occupational diseases and occupational disabilities, and fatalities) arising from operations. Includes incidents involving contractors/sub-contractors, site visitors and members of the public. The injury rate is expressed as a rate (e.g. a fraction). Use the open text box to explain the applied calculation method/formula.

    Near misses: A work-related event with the potential to cause injury, disability or disease to workers or the public (also known as “dangerous occurrences”).

    Requirements

    Select yes or no. If yes, select all applicable sub-options and complete the additional open fields.

    Injury rate: Report the injury rate for the total workforce, i.e. total employees and supervised workers, as well as independent contractors working on site to whom the organization is liable for the general safety of the working environment.

    Open text box: For injury rates, it is mandatory to use the open text box to explain the applied calculation method/formula.

    Fatalities: Fatalities are expressed as a number.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are based on the number of indicators that are used for monitoring.

    The validity of the injury rate is based on the open text box explanation. Provided figures are for reporting purposes only and do not have an impact on scoring.

    References

    GRI Sustainability Reporting Standards, 2016: 403-2

    RobecoSAM Corporate Sustainability Assessment, 2017: 3.5.2 Risk culture

    Community Impact and Engagement

    2017 Indicator

    1.5 points

    Intent

    The built environment has a significant direct and indirect socio-economic impact, for example on social well-being, quality of life, and the prosperity of local communities and individuals. Assessing the social-economic impact helps to minimize the potential negative impact of new construction and major renovation projects and can create more livable, prosperous and sustainable communities.

    Terminology

    Housing affordability: Affordable housing refers to housing units that are affordable by the low-income section of society (for example, whose income is below the median household income).

    Impact on crime levels: The impact of the use of the asset and related facilities on crime levels, e.g. inadequate lighting or security may lead to increased crime levels, including vandalism, theft, etc.

    Local income generated: Contributing to local economic benefits, and creating business diversity and opportunities for economic development and innovation. For example, providing tax revenues.

    Local residents’ well-being: Includes health and safety of local residents that may be impacted by the asset’s operation. For example, noise pollution issues.

    Walkability score: A score designed to measure the walkability of a given address. In this context, within the surrounding community.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Other: It is possible to report multiple other answers.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded based on (1) selected answer options and (2) validity of provided other answers.

    It is not necessary to select all answer options in order to obtain the maximum score for this indicator.

    References

    Green Star, Communities PILOT Version 0.1

    1.5 points

    Intent

    New construction and major renovation projects are likely to impact/disrupt the local community. These disruptions will differ per project and per phase of the development process. Monitoring helps an organization to manage and reduce the impact of new construction and major renovation projects on the local community during the development process.

    Terminology

    Analysis and interpretation of monitoring data: A structured approach to analyzing and interpreting data obtained from monitoring processes, in order to make actionable use of the data.

    Communication plan: A specific, objective-based plan identifying commitments to engaging with the community by obtaining their input and feedback during different stages of construction and renovation projects.

    Community impact: Community refers to individuals or groups of people living and/or working in any areas that are economically, socially or environmentally impacted (positively or negatively) by the construction/renovation activities. Impact includes increased noise, traffic congestion, lack of housing, resettlement requirements or pressure on access to local services that arise from influx of construction personnel, site development work or operational processes that are novel to the area.

    Community monitoring plan: A specific, objective-based plan to ensure that monitoring of the community during different stages of the construction and renovation projects is implemented and maintained.

    Monitoring: A structured approach towards measuring and managing the impact of community engagement projects on the local community.

    Nuisance and/or disruption risks: Risks that are likely to cause a nuisance or disruption to stakeholders/impacted groups/communities, such as excess noise or increase traffic congestion.

    Risk mitigation plan: A structured and purposeful process of identifying risks and developing actions to eliminate or reduce the adverse impacts of the risk, and planned responses should the risk occur.

    Stakeholders and impacted groups: All individuals or groups of people who may be affected by the objectives and/or actions of a construction/renovation project, either directly or indirectly.

    Requirements

    Select yes or no. If yes, select all applicable sub-options.

    Other: State the alternative means through which the entity monitors impact on the local community.

    It is possible to report multiple other answers.

    Evidence: Document upload is mandatory for this indicator. The evidence should sufficiently support all the items selected for this question.

    The provided evidence must demonstrate the existence of the monitoring process and the elements that it covers. Examples of acceptable documents include but are not limited to impact reports or data illustrating the collection of relevant information.

    Open text box: The content of this open text box is not used for scoring, but will be included in the Benchmark Report. Participate may use this open text box to communicate on

    1. An explanation of the approach per phase of the construction/renovation project;
    2. An explanation of how impact is monitored;
    3. The actions taken when an issue arises;
    4. The process for developing and implementing improvements.

    Reporting period: Answers must refer to the reporting period identified in EC3.

    Reporting level: Answers should be applicable at entity level.

    Scoring

    Points are awarded to each selected checkbox option and are then aggregated to calculate the indicator’s final score.

    Reporting multiple other answers will not impact scoring; reported answer options in this field are validated individually, but scores will not be aggregated.

    It is not necessary to select all answer options in order to obtain the maximum score for this question.

    The reported answer options are validated based on the provided evidence, and points are contingent upon validity of the supporting evidence.

    References

    BREEAM Communities Manual, 2012

    Appendix 1

    Terminology Acronyms

    ANREV The Asian Association for Investment in Non-listed Real Estate Vehicles
    AL asset-level
    APREA The Asia Pacific Real Estate Association
    BPF The British Property Federation
    BREEAM The Building Research Establishment’s Environmental Assessment Method
    CASBEE The Comprehensive Assessment System for Built Environment Efficiency
    CDP Carbon Disclosure Project
    DEC Display Energy Certificates
    DGNB Deutsche Gessellschaft fur Nachhaltiges Bauen e.V.
    EMS Environmental Management System
    EPC Energy Performance Certificate
    EPRA European Public Real Estate Association
    FL Fund Level
    GAV Gross Asset Value
    GHG Greenhouse gas
    GRA Green Rating Alliance
    GRI Global Reporting Initiative
    GRI CRESS The GRI Construction and Real Estate Sector Supplement
    HVAC Heating Ventilation and Air-Conditioning
    INREV The European Association for Investors in Non-Listed Real Estate Vehicles
    ISA The International Sustainability Alliance
    ISIN International Securities Identification Number
    IPMS International Property Measurement Standard
    IVBN Vereniging van Institutionele Beleggers in Vastgoed
    JV Joint Venture
    NABERS National Australian Built Environment Rating System
    NAREIT National Association of Real Estate Investment Trusts
    NF HQE Normes Francaises Haute Qualité Environnementale
    NOI Net operating income
    OL Organization Level
    PREA Pension Real Estate Association
    REALpac Real Property Association of Canada
    UN PRI The United Nations-supported Principles for Responsible Investment

    Appendix 2a

    Performance Indicators Definitions

    Absolute consumption: Absolute consumption includes consumption data of all assets that were included in the portfolio and operated during the reporting period. It includes both data consumed by the landlord and the tenant (preferably reported separately in the tables), purchased (e.g. from the grid) and produced (e.g. onsite) consumption. Please refer to individual Guidance per question for further explanations.

    Air conditioning and/or natural ventilation: Energy consumption is dependent on the level of air-conditioning vs the level of natural ventilation. Some buildings are designed to have better natural ventilation which would reduce their energy/water consumption and GHG emissions.

    Appropriate tracking instruments: Aligned with CDP, GRESB will consider the following systems (and instruments) as appropriate for the purpose of tracking renewable electricity: (1) Systems based on European Guarantee of Origin (GOs) such as the EECS (European Energy Certificate System) and (2) Systems based on USA Renewable Energy Certificates such as the Green-e Energy program in the USA. Additionally, GRESB accepts other (regional) instruments which match the above schemes.

    Assured/Verified: The process of checking data, as well as its collection methods and management systems, through a systematic, independent and documented process against predefined criteria or standards. Assurance/Verification services should be in line with a standard and can only be provided by accredited professionals.

    Average annual vacancy: The average rate of vacancy per annum.

    Base building: Energy consumed in supplying central building services to lettable/leasable areas and common areas. (NABERS Energy and Water for Offices v3.0)

    Baseline year: The initial year the participant uses as a starting point to set and measure improvement targets for any performance indicator.

    Carbon offset: A carbon offset represents a quantity of GHG emissions reductions, measured in units (usually metric tons) of carbon dioxide–equivalent (CO2e), that occur as a result of a discrete project. The emissions reductions from that project can be sold to enable the purchaser/owner to claim those GHG reductions as their own. These reductions can then be used to reduce, or offset, any GHG emissions for which the purchaser is responsible. GRESB does not include Carbon offsets as Renewable Energy.

    Checked: A third-party review that does not comply with the definition of Assurance/Verification.

    Common area: Areas shared with other building occupants, including, but not limited to: entrance areas, corridors, lifts, staircases, waste storage stores, communal kitchen and breakout facilities.

    Data coverage: The part of the portfolio for which data is available, per area of the building and per fuel type.

    Degree-days: Represent the total positive or negative difference between a base temperature and the average daily outdoor dry-bulb temperature for a given period of time (ASHRAE, 2009). Degree-days are data points that may be used to normalize abnormal consumption or intensity values due to strong winters, hot summers, etc.

    Disposal route: The method by which waste is treated or disposed, including composting, reuse, recycling, recovery, incineration, landfill, deep well injection and on-site storage. (EPRA Best Practices Recommendations on Sustainability Reporting 2011)

    District heading and cooling: System for distributing hot or cold steam and water generated in a centralized location for residential and commercial heating requirements such as space and water heating.

    Diverted - recycling: The process of changing waste materials into new products, to prevent waste of potentially useful materials, reduce the consumption of fresh raw materials, reduce energy usage, reduce air pollution (from incineration) and water pollution (from landfilling) by reducing the need for ‘conventional’ waste disposal, and lower greenhouse gas emissions as compared to plastic production.

    Diverted – waste to energy: Diverting waste through the process of generating energy in the form of electricity and/or heat.

    Diverted (waste): The processing of diverting waste from landfills.

    Energy supplier: Also known as an electric utility, this is the entity that sells energy to consumers and can provide information regarding the GHG intensity of delivered electricity. (GHG Protocol Scope 2 Guidance)

    Energy use intensity: The amount of energy used per unit of an appropriate denominator, including but not limited to: floor area, and persons. (GRI CRESS 4)

    Externally communicated: Communication of information from an organization to the external environment, such as to investors, suppliers, customers, and the general community.

    Floor area: The size of a floor surface. Definitions of floor areas vary by location, building type and landlord-tenant arrangement. Examples include: common parts area, lettable/leasable area, internal area, usable area, occupied area, conditioned/treated area. For reporting to GRESB, you should be consistent in the floor area calculation that you use (GRI, CRESS 4).

    Footfall: The number of people coming in and out of the venue.

    Fuels: Primary fuels such as natural gas, coal, and/or oil that are combusted onsite.

    GHG emissions: GHGs refers to the seven gases listed in the GHG Protocol Corporate Standard: carbon dioxide (CO2); methane (CH4); nitrous oxide (N2O); hydrofluorocarbons (HFCs); perfluorocarbons (PFCs); nitrogen trifluoride (NF3) and sulphur hexafluoride (SF6).

    GHG intensity: The amount of greenhouse gas emissions per unit of an appropriate denominator, including but not limited to: floor area, and persons.

    GHG Offsets purchased: Greenhouse gas offsets (Carbon offsets) can be purchased to compensate for the GHG emissions of the portfolio.

    Hazardous waste: A solid waste, or combination of solid wastes, which because of its quantity, concentration, or physical/chemical/infectious characteristics may either cause, or significantly contribute to an increase in mortality/serious irreversible illness. Hazardous waste might also pose a substantial present or potential hazard to human health or the environment when improperly treated, stored, transported, disposed of, or otherwise managed.

    Incineration: The destruction of solid, liquid, or gaseous wastes by controlled burning at high temperatures. Hazardous organic compounds are converted to ash, carbon dioxide, and water. Burning destroys organics, reduces the volume of waste, and vaporizes water and other liquids the waste may contain. The residue ash produced may contain some hazardous material, such as non- combustible heavy metals, concentrated from the original waste.

    Indirectly managed assets: This definition and the definition of Managed assets are solely based on the landlord/tenant relationship. Assets or buildings for which the tenant is determined to have 'operational control' where operational control is defined as having the ability to introduce and implement operating and/ or environmental policies and measures. In case both the landlord and tenant have the authority to introduce and implement any or all of the policies and measures mentioned above, the asset or building should be reported as a Managed asset. Where a single tenant has the sole authority to introduce and implement operating and/or environmental policies and measures, the tenant should be assumed to have operational control, so it should be considered to be an Indirectly Managed asset.

    Joint Venture: A joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. (IFRS 11:16 & Appendix A)

    Landfill: Method for final disposal of solid waste on land. The refuse is spread and compacted and a cover of soil applied so that effects on the environment (including public health and safety) are minimized. Under current regulations, landfills are required to have liners and leachate treatment systems to prevent contamination of groundwater and surface waters.

    Like-for-Like Comparison: Figures reported for like-for-like comparison should include only comparable data (i.e., the portion of the portfolio that has remained the same year-overyear). This should exclude assets that have been acquired, disposed of, under development or have undergone a major renovation over the reporting periods. Data availability should be the same for both years to ensure accurate comparability (i.e., if in 2015 you have 10% Data Coverage, but in 2016 your Data Coverage increased to 40%, please only report on the constant fraction, which is the 10% from 2015 and that same 10% for 2016). No correction for changes in the occupancy rate is needed and buildings with a high variation in vacancy rates should be included.

    Long-term reduction targets: A target that projects three or more years into the future, to reduce any of energy or water consumption, GHG emissions or waste to landfill.

    Low carbon energy: GRESB adopts the CDP approach to low carbon energy. In the absence of a universally accepted definition, “low carbon energy” will be any type of energy that will have no direct emissions and which the indirect emissions can usually be considered as negligible considering the life cycle of the given technology. It is generally accepted as such power technologies like wind, solar, tidal, geothermal and most hydropower. Nuclear power is also usually considered low carbon, although other considerations make it a more contentious technology. Natural gas, combined cycle gas, turbine and Combined: Heat and Power (cogeneration), despite being less carbon intensive than other means of electricity production like coal, are not considered here in the definition of low carbon.’ Certain jurisdictions might have electricity-tracking instruments for all types of power, including technologies such as CHP, gas or coal. In this case (which is expected to occur exceptionally) participants should not consider that power as low carbon in accordance with the guidance given here on. (CDP Climate Change Reporting Guidance, 2015).

    Managed asset: This definition of Managed assets and the definition of Indirectly Managed assets are solely based on the landlord/tenant relationship. Assets or buildings for which the landlord is determined to have 'operational control' where operational control is defined as having the ability to introduce and implement operating and/or environmental policies and measures. In case both the landlord and tenant have the authority to introduce and implement any or all of the policies mentioned above, the asset or building should be reported as a Managed asset. Where a single tenant has the sole authority to introduce and implement operating and/or environmental policies and measures, the tenant should be assumed to have operational control, so it should be considered to be an Indirectly Managed asset.

    Maximum Potential Coverage: The floor area reported as Maximum Potential Coverage should reflect the total floor area of the asset/portfolio of that particular area of the building that has potential for energy, water, GHG or waste data collection. In summary, it is the total floor area with respective Performance Indicator supply.

    Mixed-use asset: An asset which has more than one property type component, such as a single property containingboth Office and Retail tenant spaces.

    Natural gas, combined cycle gas, turbine and Combined: Heat and Power (cogeneration), despite being less carbon intensive than other means of electricity production like coal, are not considered here in the definition of low carbon.’ Certain jurisdictions might have electricity-tracking instruments for all types of power, including technologies such as CHP, gas or coal. In this case (which is expected to occur exceptionally) participants should not consider that power as low carbon in accordance with the guidance given here on. (CDP Climate Change Reporting Guidance, 2015)

    Net GHG Emissions after offsets: Net GHG emissions are the remaining total GHG emissions after accounting forby purchased GHG offsets. The GRESB portal will automatically calculate ‘Net GHG emissions after offsets’ using the absolute GHG emissions and GHG offsets purchased figures provided by the participant. Absolute GHG emissions - GHG offsets purchased = Net GHG emissions after offsets.

    Non-hazardous waste: Waste that does not have the potential to cause harm to humans, animals or the environment.

    Occupancy rate: Energy use/Water use/GHG emissions/Waste production varies with the level of occupancy. This adjustment helps to reduce the unfair advantage a building with lower occupancy rate would have over a building with higher vacancy rate.

    Off-site renewable energy: Renewable energy purchased from external parties, to meet some or all of the building’s energy requirements. Purchased and consumed electricity (and heat, steam or cooling) that was accounted at a zero emission factor (0 tCO2e/MWh) or that can be considered as Low carbon electricity (heat, steam or cooling (MWh)) and that are supported by Appropriate tracking instruments.)

    On-site capture: The on-site collection of rainwater, fog or condensate, which is treated and purified for reuse and/or recycling.

    On-site extraction: The on-site extraction of groundwater, which is treated and purified for reuse and/or recycling.

    On-site renewable energy: Any source of energy produced at the site that can be used without depleting reserves, including energy from the sun, wind, water and the earth’s core. Technologies should be available onsite, such as photovoltaic panels, wind turbines, transpired solar collectors, solar hot water heaters, small-scale hydroelectric power plants, ground pump heating systems, etc.

    On-site water reuse: The reuse of greywater and/or blackwater in on-site activities, like toilet flushing or cooling processes.

    Operational hours: Energy use/water use/GHG emissions varies with the weekly operating hours of a building or tenant space. This adjustment helps to reduce the unfair advantage a building with a lower average weekly operational hours would have over a building with a much higher weekly operational hours.

    Outdoor/Exterior Areas/Parking: Areas outside the building that are not considered as part of the lettable/leasable area, but which are within the site boundaries. For reporting to GRESB, only complete these fields in case separate consumption data for outdoor, exterior and/or parking is available. (NABERS Energy and Water for Offices v3.0)

    Purchased by landlord: Energy purchased by the landlord, but consumed by the tenant. This can include energy purchased by the landlord but used for vacant space.

    Purchased by tenant: Energy purchased by the tenant. Typically this is data that is not within the participant's immediate control, but GRESB encourages efforts to collect it.

    Recycling: Process of collecting and processing materials that would otherwise be thrown away as trash and turning them into new products. Recycling reduces the amount of waste sent to landfills and incinerators, conserves natural resources such as timber, water and minerals, prevents pollution caused by reducing the need of collecting raw materials, saves energy and reduces GHG emissions. (EPA)

    Renewable energy generation and consumption: Any source of energy that can be used without depleting its reserves including sun, wind, water, biomass or Earth’s core using technologies available on-site, such as photovoltaic panels, wind turbines, transpired solar collectors, solar hot water heaters, solar thermal energy, small-scale hydroelectric power plants, geothermal energy, landfill gas.

    Scope 1: GHG emission from greenhouse gas sources (greenhouse gas source physical unit or process that releases a GHG into the atmosphere) owned or controlled by the organization. Direct GHG emissions: GRI Indicator G4-EN15.

    Scope 2: Energy indirect greenhouse gas emission. GHG emission from the generation of imported electricity, heat or steam consumed by the organization. Energy indirect GHG emissions: GRI Indicator G4-EN16.

    Scope 3: Other indirect greenhouse gas emission GHG emission, other than energy indirect GHG emissions, which is a consequence of an organization's activities, but arises from greenhouse gas sources that are owned or controlled by other organizations. Other indirect GHG emissions: GRI Indicator G4-EN17. Note: Scope 3 emissions in 2018 GRESB Assessment should be calculated as the emissions associated with tenant controlled areas/electricity purchased by the tenant and indirectly managed assets if these have not been reported upon already in Scope 1 and Scope 2 emissions. Note that if tenant emissions data is not available, data coverage for these areas should be 0, while the maximum data coverage should correspond to the tenant areas generating the emissions. Scope 3 emissions should not include emissions generated through the entity’s operations or by its employees, transmission losses or upstream supply chain emissions.

    Shared services/Central plant: Shared Services/Central Plant is a central source providing energy for the whole building, including common areas and shared services for tenants. If consumption cannot be separated between common areas and shared services, provide both here.

    Site energy: The amount of heat and electricity consumed by a building as reflected in utility bills. Site energy may be delivered to a facility in one of two forms. Primary energy is the raw fuel that is burned to create heat and electricity, such as natural gas or fuel oil. Secondary energy is the energy product created from a raw fuel, such as electricity purchased from the grid or heat received from a district steam system. A unit of primary energy and a unit of secondary energy consumed at the site are not directly comparable because one represents a raw fuel while the other represents a converted fuel. Ultimately, buildings require heat and electricity to operate, and there are always losses associated with generating and delivering this heat and electricity.

    Source energy: Source energy traces the heat and electricity requirements of the building back to the raw fuel input, thereby accounting for any losses and enabling a complete thermodynamic assessment. (EPA)

    Tenant space: Lettable floor area (both vacant and let/leased areas) that is or can be occupied by tenants.

    Total Renewable Energy: The total amount of Renewable Energy generated on-site, both consumed onsite and exported, plus renewable energy generated off-site or purchased from utility or third party.

    Verified: The process of checking data, as well as its collection methods and management systems, through a systematic, independent and documented process against predefined criteria or standards. Verification can be performed by a wide range of accredited professionals.

    Void consumption: Void consumption is energy consumed, water consumed or GHG emitted during a void period. The void period is the period between leases when a property or space is not generating rental income (is vacant), but the landlord still has to cover overhead costs.

    Water use intensity: The amount of water used per unit of an appropriate denominator, including but not limited to: floor area, and persons.

    Weather condition: Weather normalization measures the impact of weather on energy consumption. Weather normalization (or "weather correction") enables an equal comparison of energy consumption/water use/GHG emissions from different places with different weather conditions and adjusts consumption data so it can be compared to consumption data in other years over a longer period.

    Whole building: Energy used by tenants and base building services to lettable/leasable and common spaces. This should include all energy supplied to the building for the operation of the building and the tenant space. For reporting to GRESB, use this section to report consumption data in the case no separate data for Common areas and Tenant space is available.

    Whole portfolio: All assets owned by the portfolio, both Managed and Indirectly Managed.

    Appendix 2b

    Performance Indicators - Examples

    “Amsterdam example portfolio” is a Diversified Dutch entity that submits the GRESB Real Estate Assessment for the first time in 2018. It consists of three assets (Asset 1, Asset 2, Asset 3), briefly described below and is structured as follows:

    Asset 1: Managed office asset (Office), whole building data

    The office building (45% portfolio GAV) is managed by the participating entity, who is responsible for the lobby (500 m2), shared services and exterior areas. The main sources of consumption are fuels and electricity, monitored with a single master meter. Fuels data is not available, but the electricity consumption was: 2016: 166 Mwh, 2017:200 Mwh.

    Water is metered centrally, for the whole building. The consumption for the whole building was 11 000 m3 in 2016 and 11 072 m3 in 2017.

    The waste generated is a mix of hazardous (2016: 90 tonnes, 2017: 79 tonnes) and non-hazardous (2016: 60 tonnes, 2017: 68 tonnes). Only 39% total waste is diverted.

    The gross floor area for the building is 10 000 m2 and was purchased by the participating entity in 2016.

    Asset 2: Managed retail asset (Retail, Shopping Center), base building data

    The retail shopping mall (40% portfolio GAV) is managed by the operating entity and includes spaces individually leased to multiple tenants.

    The net lettable area is 12 000 m2, divided among multiple tenants who control their own electricity contracts and have not shared the information with “Amsterdam example portfolio”. The only information available is the electricity for the common areas (100 Mwh) and the fuels for the shared services (107 Mwh). The size of the common areas is not measured with precision, but is estimated to be 25% net lettable area (3 000 m2).

    80% of the waste generated in 2017 (68 tonnes) is sent to landfill.

    Asset 2 has been in Amsterdam example portfolio’s operation since 2013.

    Asset 3: Indirectly industrial asset (Industrial, Distribution Warehouse)

    The industrial warehouse (15% portfolio GAV) is fully leased for the next seven years to a single tenant, who controls the entire space, as well as the utility contracts.

    The net floor area for the building is 15 000 m2 and despite repeated efforts, the tenant is not willing to share the consumption data.

    “Amsterdam example portfolio” will take the following steps to define the reporting boundaries and fill out the Performance Indicators section:

    1. Define the Reporting scope in RC5.1

    2. Fill out the Performance Indicators section for each property type, as defined in RC5.1

    Note: The account manager has already determined which assets are managed and which ones are indirectly managed for each property type. This is already expressed in RC5.1 and should also be reflected in the Performance Indicators reporting.

    PI1.0

    Identify the type of asset (managed or indirectly managed) and the size of each component (base building, tenant spaces or simply whole building).

    Notes:

    • The floor areas expressed here should match the reporting rationale in PI 1.1. (e.g. if consumption data will be reported separately for base building and tenant spaces, participants should use the table in PI 1.0 to report the size of the base building and tenant spaces).
    • The size of the assets described in PI 1.0 should align with the values reported in RC5.1

    Asset 1 (Office):

    • Managed assets
      • Whole Building: 10 000 m2

    Asset 2 (Retail, Shopping Center):

    • Managed assets
      • Common areas: 3000 m2
      • Tenant spaces: 12 000 m2
        • Tenant space, Energy Purchased by Landlord: 0
        • Tenant space, Energy Purchased by Tenant: 12 000 m2
      • Whole Building: 0
      • Shared Services: 12 000 m2

    Asset 3 (Industrial, Distribution Warehouse):

    • Indirectly managed assets
      • Whole building: 15 000 m2

    PI1.1

    Asset 1 (Office):

    • Managed assets, Whole Building

    Asset 1 was purchased by the participating entity in 2016 and is not included in the LFL scope.

    Row 17: FuelsRow 19: Electricity
    2016 - Absolute consumption: 0 Mwh2016 - Absolute consumption: 166 Mwh
    2017 - Absolute consumption: 0 Mwh2017 - Absolute consumption: 200 Mwh
    Data coverage: 0 m2Data coverage: 10 000 m2
    Maximum data coverage: 10 000 m2Maximum data coverage: 10 000 m2
    2016 - Like for like consumption: 0 Mwh2016 - Like for like consumption: 0 Mwh
    2017 - Like for like consumption: 0 Mwh2017 - Like for like consumption: 0 Mwh
    Like for like data coverage: 0 m2Like for like data coverage: 0 m2

    Asset 2 (Retail, Shopping Center):

    • Managed asset, Base Building
    Row 3: ElectricityRow 5: District heating and cooling
    2016 - Absolute consumption: 97 Mwh2016 - Absolute consumption: 100 Mwh
    2017 - Absolute consumption: 100 Mwh2017 - Absolute consumption: 107 Mwh
    Data coverage: 3000 m2Data coverage: 12 000 m2
    Maximum data coverage: 3 000 m2Maximum data coverage: 12 000 m2
    2016 - Like for like consumption: 97 Mwh2016 - Like for like consumption: 100 Mwh
    2017 - Like for like consumption: 100 Mwh2017 - Like for like consumption: 107 Mwh
    Like for like data coverage: 3 000 m2Like for like data coverage: 3 000 m2
    • Managed assets, Tenant Space
    Row 15: Electricity
    2016 - Absolute consumption: 0 Mwh
    2017 - Absolute consumption: 0 Mwh
    Data coverage: 0 m2
    Maximum data coverage: 12 000 m2
    2016 - Like for like consumption: 0 Mwh
    2017 - Like for like consumption: 0 Mwh
    Like for like data coverage: 0 m2

    Asset 3 (Industrial, Distribution Warehouse):

    • Indirectly managed asset, Whole Building
    Row 22: FuelsRow 23: Electricity
    2016 - Absolute consumption: 0 Mwh2016 - Absolute consumption: 0 Mwh
    2017 - Absolute consumption: 0 Mwh2017 - Absolute consumption: 0 Mwh
    Data coverage: 0 m2Data coverage: 0 m2
    Maximum data coverage: 15 000 m2Maximum data coverage: 15 000 m2
    2016 - Like for like consumption: 0 Mwh2016 - Like for like consumption: 0 Mwh
    2017 - Like for like consumption: 0 Mwh2017 - Like for like consumption: 0 Mwh
    Like for like data coverage: 0 m2Like for like data coverage: 0 m2
    Note: If no energy data is available for a property type, you should answer PI 1.0 with “No” and you will not be asked to fill out this table.

    PI2.1

    Determine the scope of the GHG emissions data, following the definitions of Scope 1, Scope 2 and Scope 3 in the Performance Indicators section.

    Asset 1 (Office):

    • Managed asset, Scope 1 and Scope 2 emissions
      • Scope 1: Emissions from fuels combustion
      • Scope 2: Emissions from electricity purchased

    Asset 1 was purchased by the participating entity in 2016 and is not included in the LFL scope.

    Row 2: Scope 1Row 3: Scope 2
    2016 - Absolute consumption: 0 tonnes2016 - Absolute consumption: 0 tonnes
    2017 - Absolute consumption: 0 tonnes2017 - Absolute consumption: 534 tonnes
    Data coverage: 0 m2Data coverage: 10 000 m2
    Maximum data coverage: 10 000 m2Maximum data coverage: 10 000 m2
    2016 - Like for like consumption: 0 tonnes2016 - Like for like consumption: 0 Mwh
    2017 - Like for like consumption: 0 tonnes2017 - Like for like consumption: 0 Mwh
    Like for like data coverage: 0 m2Like for like data coverage: 0 m2

    Asset 2 (Retail, Shopping Center):

    • Managed asset, Base Building
      • Scope 2: Emissions from electricity purchased for common areas and district heating and cooling distributed in shared services
      • Scope 3: Emissions from tenant obtained energy
    Row 2: Scope 2Row 3: Scope 3
    2016 - Absolute consumption: 680 tonnes2016 - Absolute consumption: 0 tonnes
    2017 - Absolute consumption: 674 tonnes2017 - Absolute consumption: 0 tonnes
    Data coverage: 12 000 m2Data coverage: 0 m2
    Maximum data coverage: 12 000 m2Maximum data coverage: 12 000 m2
    2016 - Like for like consumption: 680 tonnes2016 - Like for like consumption: 0 Mwh
    2017 - Like for like consumption: 674 tonnes2017 - Like for like consumption: 0 Mwh
    Like for like data coverage: 12 000 m2Like for like data coverage: 0 m2

    Asset 3 (Industrial, Distribution Warehouse):

    • Indirectly managed asset, only Scope 3 emissions
    Row 3: Scope 3
    2016 - Absolute consumption: 0 tonnes
    2017 - Absolute consumption: 0 tonnes
    Data coverage: 0 m2
    Maximum data coverage: 15 000 m2
    2016 - Like for like consumption: 0 Mwh
    2017 - Like for like consumption: 0 Mwh
    Like for like data coverage: 0 m2
    Note: If no GHG data is available for a property type, you should answer PI 2.0 with “No” and you will not be asked to fill out this table.

    PI3.1

    Asset 1 (Office):

    • Managed asset, Whole Building

    Asset 1 was purchased by the participating entity in 2016 and is not included in the LFL scope.

    Row 8: Whole Building
    2016 - Absolute consumption: 11 000 m3
    2017 - Absolute consumption: 11 072 m3
    Data coverage: 10 000  m2
    Maximum data coverage: 10 000 m2
    2016 - Like for like consumption: 0 Mwh
    2017 - Like for like consumption: 0 Mwh
    Like for like data coverage: 0 m2

    Asset 2 (Retail, Shopping Center):

    • Managed asset, Base Building + Tenant Space
    Row 1: Common AreasRow 6: Purchased by tenant
    2016 - Absolute consumption: 1700 m32016 - Absolute consumption: 0 m3
    2017 - Absolute consumption: 2000 m32017 - Absolute consumption: 0 m3
    Data coverage: 3000 m2Data coverage: 12 000  m2
    Maximum data coverage: 3000 m2Maximum data coverage: 12 000 m2
    2016 - Like for like consumption: 1700 m32016 - Like for like consumption: 0 m3
    2017 - Like for like consumption: 2000 m32017 - Like for like consumption: 0 m3
    Like for like data coverage: 3000 m2Like for like data coverage: 0 m2

    Asset 3 (Industrial, Distribution Warehouse):

    • Indirectly Managed Asset, Whole Building
    Row 8: Whole Building
    2016 - Absolute consumption: 0 m3
    2017 - Absolute consumption: 0 m3
    Data coverage: 0 m2
    Maximum data coverage: 15 000 m2
    2016 - Like for like consumption: 0 Mwh
    2017 - Like for like consumption: 0 Mwh
    Like for like data coverage: 0 m2
    Note: If no energy data is available for a property type, you should answer PI 3.0 with “No” and you will not be asked to fill out this table.

    PI4.1

    Asset 1 (Office):

    Row 1: Total weight of hazardous wasteProportion of waste by disposal route
    2016 - Absolute measurement: 90 tonnesRow 7: Landfill - 61%
    2017 - Absolute measurement: 79 tonnesRow 8: Incineration
    Row 2: Total weight of non-hazardous wasteRow 9: Diverted (total) - 39%
    2016 - Absolute measurement: 60 tonnes 
    2017 - Absolute measurement: 68 tonnes

    Asset 2 (Retail, Shopping Center):

    Row 1: Total weight of hazardous wasteProportion of waste by disposal route
    2016 - Absolute measurement: Row 7: Landfill - 80%
    2017 - Absolute measurement: 68 tonnesRow 8: Incineration
    % Managed portfolio covered: 100Row 9: Diverted (total) - 20%

    Asset 3 (Industrial, Distribution Warehouse):

    No waste data available.

    Appendix 2c

    Performance Indicators - Estimation Methodology

    When landlord-obtained utility consumption annual data is partially unavailable or unreliable for an asset, estimation may be necessary for the Performance Indicator Aspect. Estimation allows completed annual data to be calculated for an asset where data is partially missing or unreliable. GRESB allows participants to use estimated data when reporting on energy consumption, GHG emissions, water consumption, and waste, if this is aligned with one of the predefined methodologies and not used as a substitute to gather complete and accurate data.

    Participants are not allowed to estimate Absolute Consumption data or Like-for-Like Consumption data if there is no actual data available used as the basis for the estimation.

    Data estimates are allowed if:

    Note: Consumption Data provided by a utility provider using official documentation (e.g. invoices), based on an estimate of the provider (e.g. because meter readings are not performed on an annual basis or in time for GRESB reporting) is not considered to be estimates as described in the cases above.

    Participants that use estimates should include the following information in the open text box below each performance indicator table:

    Appendix 3a

    Building Certification Schemes

    List of design and/or construction green building certification schemes:

    List of operational green building certification schemes:

    This list indicates certifications that have been submitted to GRESB as part of participation and accepted for full or partial recognition. Additional schemes may also receive recognition if they meet GRESB’s criteria.

    Appendix 3b

    Green Building Certification Validation Questions

    A

    Certification scheme

    1. Certification scheme name _________________
    2. Certification sub-scheme name _________________
    3. Certification body name _________________
    4. Country where certification was granted _________________
    B

    Is the certification an in-house or external scheme?

    1. In-house certification scheme
    2. External scheme
    C

    Verification of compliance with scheme requirements is based on:

    • Third-party document review
    • Third-party on-site assessment
    • Both document and on-site assessment performed by a third party
    • No third-party document review or on-site assessment required

    Note: If you use an in-house scheme, GRESB will ask for additional information on the scheme. If no third-party document review or on-site assessment required, GRESB will ask for an upload to provide specific information on the assessment method.

    D

    Public information

    1. Public website of the scheme _________________
    2. Public list of certified projects online _________________
    E

    Is the scheme required by a national or regional government agency?

    • Yes. Specify name of agency _________________
    • No

    Note: Mandatory certification by a central government or regional/local government department or from an organization with delegated authority from such a department.

    F

    Is the scheme used by a national or regional government agency?

    • Yes. Specify name of agency _________________
    • No
    G

    Does the certification require:

    1. Performance-based design goals for energy efficiency and/or GHG emissions reduction
    2. Operational performance data for energy efficiency and/or GHG emissions reduction
    3. Both design and operational goals and data collection
    4. None
    H

    Select the topics included in the scheme assessment: (multiple answers possible)

    • Location (e.g., brownfield redevelopment, density, walkability)
    • Transportation (e.g., access to public transport)
    • Site design (including stormwater management, heat island reduction, etc.)
    • Energy efficiency
    • Greenhouse gas emissions
    • Indoor water conservation
    • Outdoor water conservation
    • Waste management (including waste diversion, recycling)
    • Indoor environmental quality
    • Operations/management
    • Materials selection
    • Biodiversity and habitat conservation
    • Public health and wellness
    • Social equity
    • Resilience
    • Other, please specify _________________

    Note: Refers to the scheme in general, not to the topics included in each individual asset assessment of the portfolio.

    I

    Select the property types included in the scheme assessment: (multiple answers possible)

    • Data Centers
    • Healthcare
    • Hotel
    • Industrial, Business Parks
    • Industrial, Distribution Warehouse
    • Industrial, Manufacturing
    • Lodging, Leisure & Recreation
    • Medical Office
    • Office
    • Parking (indoors)
    • Residential
    • Residential, Family Homes
    • Residential, Multi-family
    • Residential, Student Housing
    • Retail, High Street
    • Retail, Shopping Center
    • Retail, Warehouse
    • Self-storage
    • Senior Homes
    • Other, please specify _________________
    J

    Assessment details

    1. Certificate duration _________________
    2. Certification levels _________________
    3. Assessor credential _________________
    4. Assessment method and criteria _________________
    5. Recertification requirements _________________
    6. Provide any additional information about the scheme (maximum 250 words) _________________

    If you wish to add a new scheme in addition to the list that has been provided, please contact info@gresb.com, and you will be asked to complete the above-stated validation questions for the scheme.

    Appendix 3c

    Countries/municipalities/regions list for energy rating

    EU EPC (select from list below):

    Government energy efficiency benchmarking (select from list below):

    Appendix 4

    Assurance and verification schemes

    Appendix 5

    Name of Organization Validation Questions

    Organization website _________________

    Office location (city/country) _________________

    Who could GRESB contact for validation purposes?

    This information is only used for validation purposes where the organization is not yet confirmed as a valid answer in GRESB’s validation database.

    Appendix 6

    Conversion tables

    Heat and energy
    1 mega joule 239.0 kilocalories
    947.8 Btu
    0.278 kilowatt hours (kWh)
    1 Gigawatt hour (GWh) 1000 Megawatt hour (MWh)
    1 kilowatt hour (kWh) 860.4 kilocalories
    0.001 Megawatt hour (MWh)
    3412.1 Btu
    1 million Btu 1055 mega joules
    252.2 mega calories
    293.1 kilowatt hours (kWh)
    0.29307 Megawatt hour (MWh)
    1 ton-hour 0.003516 Megawatt hour (MWh)
    Cubic measures
    1 liter 0.01 hectoliter
    0.035 cubic foot
    0.001 cubic meter
    0.220 Imperial gallon
    0.264 American gallon
    1 American gallon 0.134 cubic foot
    0.003785 cubic meter
    3.785 liters
    0.833 Imperial gallon
    0.024 American barrel
    1 cubic foot 0.028 cubic meter
    28.317 liters
    6.229 Imperial gallons
    7.481 American gallons
    0.1781 American barrel
    1 Imperial gallon 0.161 cubic foot
    0.00456 cubic meter
    4.546 liters
    1.201 American gallons
    0.029 American barrel
    1 American barrel 5.615 cubic feet
    0.159 cubic meter
    158.99 liters
    34.973 Imperial gallons
    42 American gallons
    1 cubic meter 35.315 cubic feet
    1.000 liters
    219.97 imperial gallons
    264.17 American gallons
    6.290 American barrels
    Areas
    1 square foot 0.093 square meter
    1 square meter 10.764 square feet
    1 square yard 1.196 square meter
    1 square mile 2.59 square kilometer
    1 acre 4,046.86 square meter
    43,560 square feet
    Mass
    1 metric ton 1,000 kilogram
    1 pound 0.45359 kilogram
    0.00045 metric tonnes
    1 short ton 2,000 pounds
    0.90718 metric tonnes

    Appendix 7

    Document upload cover page

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    Appendix 8

    GRESB Real Estate Assessment - EPRA sBPR v3 GAP Analyisis

    2018 GRESB Real Estate Indicator Alignment EPRA sBPR v3 (2017)
    RC5.1: Describe the composition of the entity's portfolio during the reporting period ++ 7.1 Organisational Boundaries;
    7.2 Coverage;
    7.7 Analysis - Segmental analysis (by property type, geography)
    RC5.2: Provide additional context for the reporting boundaries ++ 7.1 Organisational Boundaries;
    7.2 Coverage;
    7.7 Analysis - Segmental analysis (by property type, geography)
    RC6: What countries are included in the entity's portfolio? + 7.7 Analysis - Segmental analysis (by property type, geography)
    MA1: Does the entity have specific ESG objectives? ++ 7.9 Narrative on performance;
    7.10 Location of EPRA sust performance
    PD1: Does the organization have a policy/policies in place, applicable to the entity level, that address(es) environmental issues? + 7.9 Narrative on performance; and
    EPRA sBPR Environmental Performance Measures
    PD2: Does the organization have a policy/policies in place, applicable to the entity level, that address(es) social issues? + 7.9 Narrative on performance; and
    EPRA sBPR Social Performance Measures
    PD3: Does the organization have a policy/policies in place, applicable to the entity level, that address(es) governance issues? ++ 7.9 Narrative on performance; and
    EPRA sBPR Corporate Performance Measures
    PD4: Does the organization monitor diversity indicator(s) for its governance bodies (i.e. C-suite, Borard of Directors, Management Committees)? ++ 5.1 Diversity-Emp;
    5.2 Diversity-Pay
    PD5.1: Does the organization disclose its ESG actions and/or performance? + 7.10 Location of EPRA Sustainability Performance in companies' reports
    PD5.2: Does the organization have an independent third party review of its ESG disclosure? ++ 7.4 Third Party Assurance
    PD7.2: Has the entity been involved in any ESG-related misconduct, penalties, incidents or accidents in the reporting year? + 5.8 H&S-Comp/td>
    RO3.2: Has the entity performed asset level environmental and/or social risk assessments of its standing investments during the last three years? + 5.8 H&S-Comp;
    5.7 H&S-Asset
    RO5: Has the entity implemented measures during the last four years to improve the energy efficiency of the portfolio? + 7.9 Narrative on performance;
    EPRA sBPR Energy Performance Measures (Elec-Abs; Elec-LfL; DH&C-Abs; DH&C-LfL; Fuels-Abs; Fuels-LfL; Energy-Int)
    RO6: Has the entity implemented measures during the last four years to improve the water efficiency of the portfolio? + 7.9 Narrative on performance;
    EPRA sBPR Water Performance Measures (Water-Abs; Water-LfL; Water-Int)
    RO7: HHas the entity implemented measures during the last four years to improve the waste management of the portfolio? + 7.9 Narrative on performance; EPRA sBPR Waste Performance Measures (Waste-Abs; Waste-LfL)
    SE1: Does the organization provide regular trainings for the employees responsible for the entity? ++ 5.3 Emp-Training
    SE3.2: Has the organization monitored conditions for and/or tracked Q35.2 indicators of employee safety during the last three years? ++ 5.6 H&S-Emp
    SE7: Does the entity have a tenant engagement program in place that includes sustainability-specific issues? + 5.9 Comty-Eng
    SE8.1: Has the entity undertaken tenant satisfaction surveys during the last three years? + 5.9 Comty-Eng
    SE8.2: Does the entity have a program in place to improve tenant satisfaction based on the outcomes of the survey referred to in SE8.1? + 5.9 Comty-Eng
    SE11.1: Does the entity have a community engagement program in place that includes sustainability-specific issues? ++ 5.9 Comty-Eng
    SE11.2: Does the entity monitor its impact on the community? + 5.9 Comty-Eng
    PI1.1: Energy consumption for {property_type} ++ 4.1 Elec-Abs;
    4.6 Elec-LfL;
    4.3 DH&C-Abs;
    4.4 DH&C-LfL;
    4.5 Fuels-Abs;
    4.6 Fuels-LfL;
    7.2 Coverage;
    7.3 Estimation of landlord-obtained utility consumption;
    7.5 Boundaries - reporting on landlord and tenant utility consumption;
    7.7 Analysis - Segmental analysis (by property type only)
    PI1.2: Energy use intensity rates {property_type} ++ 4.7 Energy-Int;
    7.6 Normalisation;
    7.2 Coverage;
    7.7 Analysis - Segmental analysis (by property type only
    PI1.3: Renewable energy generated {property_type} ++ 4.1 Elec-Abs;
    4.3 DH&C-Abs;
    4.5 Fuels-Abs;
    7.7 Analysis - Segmental analysis (by property type only)
    PI1.4: Review, verification and assurance of energy consumption data ++ 7.4 Third Party Assurance
    PI2.0: Does the entity collect GHG emissions data for this property type? + 7.1 Organisational Boundaries
    PI2.1: GHG emissions for {property_type} ++ 4.8 GHG-Dir-Abs;
    4.9 GHG-Indir-Abs;
    7.2 Coverage;
    7.7 Analysis - Segmental analysis (by property type only
    PI2.2: GHG emissions intensity rates {property_type} ++ 4.10 GHG-Int;
    7.6 Normalisation;
    7.7 Analysis - Segmental analysis (by property type only)
    PI2.3: Review, verification and assurance GHG emissions data ++ 7.4 Third Party Assurance
    PI3.1: Water use for {property_type} ++ 4.11 Water-Abs;
    4.12 Water-LfL;
    7.2 Coverage;
    7.5 Boundaries - reporting on landlord and tenant utility consumption;
    7.7 Analysis - Segmental analysis (by property type only)
    PI3.2: Water intensity rates {property_type} ++ 4.13 Water-Int;
    7.2 Coverage;
    7.6 Normalisation
    PI3.4: Review, verification and assurance water consumption data ++ 7.4 Third Party Assurance
    PI4.1: Waste management for {property_type} ++ 4.14 Waste-Abs;
    4.15 Waste-LfL;
    7.2 Coverage;
    7.7 Analysis - Segmental analysis (by property type only)
    PI4.2: Review, verification and assurance of waste management data ++ 7.4 Third Party Assurance
    PI5: Has the entity set long-term reduction targets? + 7.9 Narrative on performance
    NC5.2: Does the entity’s new construction and major renovation portfolio include projects that obtained or are registered to obtain a green building certificate? ++ 4.16 Cert-Tot
    NC10.1: Does the entity have ESG requirements in place for its contractors? + 5.6 H&S-Emp: Additional Recommendations

    Appendix 9

    Global Partners

    CBRE

    www.cbre.com

    Andrew Baker, Head of Sustainability, EMEA

    andrew.baker@cbre.com

    London, United Kingdom

    CBRE is the world’s leadi