Reporting entity
Entity Name: ____________
Fund Manager Organization Name (if applicable): ____________
The 2023 SFDR Real Estate Assessment Reference Guide (“Reference Guide”) accompanies the 2023 SFDR 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 the European Union. 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. While we do not anticipate major changes, we reserve the right to make modifications prior to the official start of the 2023 reporting year and the official release of the 2023 SFDR Infrastructure Asset Assessment. We will publicly announce any such modifications.
Mission-driven and investor-led, GRESB is the environmental, social and governance (ESG) benchmark for real assets. We work in collaboration with the industry to provide standardized and validated ESG data to the capital markets. The 2022 real estate benchmark covers more than 1,800 property companies, real estate investment trusts (REITs), funds, and developers. Our coverage for infrastructure includes over 800 infrastructure funds and assets. Combined, GRESB represents USD 8.6 trillion in real asset value. More than 170 institutional investors, with over USD 51 trillion AUM, use GRESB data to monitor their investments, engage with their managers, and make decisions that lead to a more sustainable real asset industry.
For more information, visit gresb.com. Follow GRESB on LinkedIn or @GRESB on Twitter.
The EU’s Sustainable Finance Disclosure Regulation (SFDR) is a new transparency requirement for financial market participants related to key environmental, social and governance (ESG) criteria. The purpose is to increase market transparency and direct capital towards more sustainable businesses.
SFDR imposes different disclosure obligations on Financial Market Participants, depending on their size and the nature of their products. All participants in the EU will need to make general disclosures about sustainability practices for both the entity and their products.
They will also need to report on their Principle Adverse Impacts (PAIs), which are a series of indicators covering a range of ESG issues, such as greenhouse gas emissions and waste management.
At the moment, most companies and funds do not provide disclosures or collect data that is granular enough to satisfy the requirement, once it goes fully in effect, or to provide investors with the level of transparency that is expected by this regulation.
When approaching this data collection-and-reporting challenge starting next year, it is important for Financial Market Participants to consider that the data they report will serve as a basis for year-on-year comparisons of performance that will become required in 2024 for the 2023 and 2024 reporting years.
GRESB offers an Assessment that provides Financial Market Participants with the framework they need for their Principal Adverse Impact Statement. The Assessment is comprised of around 60 ESG metrics that need to be reported on. It addresses the three tables related to Principal Adverse Impacts, covering Article 7 disclosure requirements for Article 8 and 9 products and funds.
The SFDR Real Estate Assessment is GRESB’s Real Estate solution for the Sustainable Finance Disclosure Regulation (SFDR) and reporting on the Principle Adverse Impacts (PAIs). The assessment is based on the 6.4.2022 version of SFDR 1 and provides financial market participants with a means to collect real estate data so that it can then be aggregated for funds or financial market participants ahead of their expected disclosure requirements in 2023. The methodology is consistent across different regions, investment vehicles and real estate property types and aligns with Annex 1 template principle adverse sustainability impacts statement.
The SFDR Real Estate Assessment was adapted to provide a standardized and user-friendly way for real estate participants to report their sustainability data in a secure platform and help them meet their disclosure requirements. Assessment participants get a head start on disclosure requirements by receiving:
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 three ESG Components - Management, Performance, and Development. The methodology is consistent across different regions, investment vehicles and property types and aligns with international reporting frameworks, such as TCFD, 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 provides a free online training platform for all GRESB assessment participants. The training courses are modular and self-paced, walking participants through the various aspects of the Assessments,and providing detailed examples and tips for a successful submission.
The SFDR Real Estate Assessment is available as a standalone assessment, to anyone that wants to use it to meet their disclosure requirements.
If you do not have a GRESB account, you can create one here.
If you already have a GRESB account, you can simply proceed with the SFDR Assessment by selecting this newly available option in the assessment portal. You will also be able to easily transfer information from the Real Estate asset portal to your SFDR Assessment.
More questions on SFDR? Check our FAQ.
The 2023 SFDR Real Estate Assessment opens in March 2023 and closes at the end of 2023. The reference period is calendar year 2022. Managers can use this assessment to prepare for their product- and entity-level mandatory reporting due in June 2023, using 2022 data.
The Assessment Portal includes indicator-specific guidance, available under the “Guidance” buttons that explains:
In addition to the guidance in the Portal, each Assessment is accompanied by a Reference Guide (this guide). The Reference Guide provides introductory information on the Assessments and a report-format version of the indicator-by-indicator guidance that is available under the Guidance tab in the Portal.
Moreover, there are several tools and functionalities in the Portal to support submissions. For example, the Portal has real‑time error detection systems and warnings. More detail can be found in Participant Tools.
GRESB works with a select group of Partners who can help participants with their SFDR Real Estate Assessment submission. To learn more about the services offered by GRESB Partners, take a look at our Partner Directory.
Participants are able to contact the GRESB Helpdesk at any time for support and guidance.
Data is submitted to GRESB through a secure online platform and can only be seen by users and GRESB Staff.
Participants can share data with their investors outside of the GRESB portal by downloading their report as a PDF.
The 2023 SFDR Real Estate Assessment requires participants to report some of the performance indicators at the asset level.
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 individual asset level information will be disclosed to participants’ investors.
Asset-level data will be used in an aggregated form, and non-traceable manner, to inform the aggregated statistics at a portfolio level used in the SFDR Report of the participant.
GRESB is fully compliant with GDPR. The GRESB Privacy Statement can be found here. GRESB also has specific internal policies related to GDPR, such as a Data Breach Policy and Data Protection Policy, that cannot be shared externally for security reasons. Note that asset level data does not fall under the incidence of GDPR because it does not contain any personal information.
GRESB’s data security measures and systems have been reviewed by an external expert and no issues were flagged. The GRESB website and the GRESB Portal are fully HTTPS/TLS encrypted. GRESB has strict and extensive policies on data security that cannot be shared externally for security reasons.
All Assessment responses must be submitted in English.
The GRESB Assessment Portal can be translated by using “Google translate” via the Google Chrome web browser. This applies to the assessment portal, guidance notes and online version of the Reference Guide.
How to use Google Translate:
Turn translation on
You can control whether Chrome will offer to translate web pages.
If the page is not yet being translated to your language, click on the Translate icon again, select “options”, and make sure your “Translation language” is not set to something else. If it is, change it to the desired language for translation.
This works for the entire GRESB Portal.
Disclaimer: Note that not all text may be translated accurately or be translated at all. GRESB is not responsible for incorrect or inaccurate translations. GRESB will not be held responsible for any damage or issues that may result from using Google Translate.
This section provides specific guidance for the 2023 GRESB SFDR Real Estate Assessment (referred to as the “Assessment”).
This guide should provide all the basic information needed to complete the 2023 Assessment. Contact the GRESB Helpdesk for any additional support and guidance.
Important: Note that the European Commission has not provided any industry specific guidelines on how financial market participants should report on the Sustainable Finance Disclosure Regulation (SFDR) and the Principle Adverse Impact Statements (PAIs). The guidance below is therefore based on that of the GRESB Real Estate Assessment.
The SFDR Assessment consists of a number of aspects that a participant is required to report on, including:
*Note that the term table is used as a reference point to the mandatory and optional indicators as per the template provided by the EU but that the SFDR Assessment Portal itself is not composed of ‘’tables’’. The SFDR report will however be in table format.
The SFDR Assessment is broken into three parts to reflect the different tables of PAIs as outlined by the EU documentation. These three tables are detailed as follows:
Table 1: Mandatory climate and other environment-related indicators, Social and employee, respect for human rights, anti-corruption and anti-bribery matters.
Table 1 focuses on 14 environmental and social indicators applicable to investments in investee companies and 2 indicators applicable to investments in real estate assets that have to be disclosed by financial market participants, these are considered as part of the mandatory indicators that have to be reported on.
Table 1 consists of 16 indicators across 7 aspects:
Table 2: Additional climate and other environment-related indicators.
These are considered to be optional although participants are encouraged to report on at least one of those indicators in order to abide by regulatory requirements.
Table 2 consists of 16 applicable to investment in investee companies and 5 indicators specific to real estate across 9 aspects:
Table 3: Additional indicators for social and employee, respect for human rights, anti-corruption and anti-bribery matters.
These are considered to be optional although participants are encouraged to report on at least one of those indicators in order to abide by regulatory requirements.
Table 3 consists of 17 indicators across 3 aspects:
The following tools help participants with the submission process:
The tools are designed to streamline data flows and increase data quality.
In 2023, participants can use the online GRESB Asset Portal or a data partner system to upload asset-level data for the following indicators:
Every indicator in the 2023 SFDR Real Estate Assessment can be answered with ‘Yes’ or ‘No’ and in some cases with ‘No answer’.
When selecting ‘Yes’, participants are required to provide further information by selecting one or more answer options and/or completing an open text box. Participants should select all answer options that accurately describe the entity and/or its activities.
When selecting 'No’, participants may not select any additional sub‑options.
Answers throughout the Assessment must be applicable to the reporting year identified in “Reporting year” (EC4) in the Entity and Reporting Characteristics, unless the indicator specifies an alternative reporting period.
GRESB recommends the use of calendar year over fiscal year for SFDR as per the reference period communicated in the regulation.
Answers must be applicable to the entity level. When a participating entity is part of a larger investment management organization or group of companies (the ‘Organization’), participants should use the open text box to explain how the answers apply to the entity.
In the case you have both financial and calendar year reporting requirements and are unsure on how to proceed, contact us at gresb.com/contact for further information.
SFDR is a regulation that applies to Financial Market Participants who will have to disclose at fund level the aggregate environmental and social impact of their underlying portfolio.
Some performance indicators in table 1 and 2 of Annex 1 have to be reported at the asset-level. The aggregation of data follows the calculation methods provided in Annex 1 of the Regulatory Technical Standards pertaining to the PAIs principle adverse impact statements.
Following data validation by GRESB, aggregation is completed by an automatic system.
Participants can opt-in for GRESB’s Estimation Model as part of the SFDR Real Estate Assessment. Note that by opting-in, GRESB will disregard the reported GHG emissions* and will derive these emissions from the reported and estimated energy consumption.
This methodology uses the most representative data available, whether reported or statistically derived, to calculate whole-building GHG emissions, and by extension, complete real estate portfolio GHG emissions, regardless of how much energy or GHG data is available as input.
It is aligned with global standards such as the GHG Protocol’s Accounting and Reporting Standard for Corporates and the PCAF Global Standard.
At its core, the steps to calculate GHG intensity of a portfolio from energy data are as follows:
Particular care was taken in dealing with imperfect cases in a way that retains the integrity of the physical reality that the information is trying to reflect.It follows commonly accepted frameworks and standards, and is transparent in a way that is easily understood and supported by the industry.
For more information, please visit the GRESB’s Estimation Model and GHG calculation methodology webpage.
*Participants will be required to comply with the reporting requirements for GHG emissions when opting-in or -out from the GRESB Estimation Model.
The SFDR Assessment was designed as a standalone Assessment for both existing and new participants. In the scenario where participants are interested in reporting to both the GRESB Real Estate and SFDR Assessments, asset-level data can be reported only once and will be used for both Assessments*. Please note, if you have participated in a GRESB Assessment in the past, there is no need to create a new entity in the portal for SFDR if it is the same portfolio/company/fund.
*In order to reuse asset-level data for participating in the GRESB Real Estate Assessment, participants have to comply with the GRESB reporting scope and boundaries requirements.
Information provided in the Entity and Reporting Characteristics aspect identifies the reporting entity's characteristics that remain constant across different reporting years.
EC1
Reporting entity
Entity Name: ____________
Fund Manager Organization Name (if applicable): ____________
Identify the participating entity. The entity name will be used to identify the entity on the GRESB portal and will be displayed on the entity’s SFDR Report.
Complete all applicable fields.
*Values in the Entity Characteristics (EC) aspect are fixed to one entity, regardless of assessment year. In order to update these please select the 'Manage Entity' setting in the Assessment Portal.
Fund manager (organization) name: Legal name of the organization that manages the entity (typically applicable for non-listed entities only).
Entity name: Fund or company name of the investable entity for which the Assessment is submitted. In the case of listed companies, the entity name is the legal name of the organization, also used for identification on international stock exchanges. In the case of non-listed entities, the entity name identifies the investable portfolio for which the Assessment is submitted.
EC2
Nature of ownership
Public (listed on a Stock Exchange) entity
Specify ISIN: ____________
Legal status:
Property company
Real Estate Investment Trust (REIT)
Private (non-listed) entity
Investment style:
Core
Value-added
Opportunistic
Debt
Social/Affordable housing
Open or closed end:
Open end
Closed end
Type of investment vehicle:
Club Deal
Direct Investment
Fund
Joint Venture (JV)
Separate Account
Special Purpose Vehicle
Government entity
Legal Entity Identifier (optional): ____________
Describe the ownership status of the participating entity.
Select one of the options and select all applicable sub-options. Entities are expected to represent investable vehicles, and these entities are expected to represent all 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 year, report on the structure, policies and procedures of the newly formed entity as of the end of the reporting year.
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.
Club Deal: An investment vehicle or structure with generally a limited number of investors investing in a common strategy. Typically, investors have more discretion and control than in a typical fund, and have veto rights over major decisions.
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.
Debt: A fund or similar entity that has been set up for the purposes of issuing or investing in loans or bonds.
Direct Investment: The purchase of a controlling interest or a minority interest of such size and influence that active control is a feasible objective.
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.
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.
Joint Venture: A vehicle where at least two parties share a common investment objective. Control over significant risk management decisions is not transferred to an external manager, but is exercised by members in the venture.
LEI: The Legal Entity Identifier (LEI) is a unique global identifier for legal entities participating in financial transactions. Also known as an LEI code or LEI number, its purpose is to help identify legal entities on a globally accessible database.
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.
Private entity: A company or fund that is not a listed or traded on any stock exchange. Also known as non-listed entities or private portfolios.
Public entity: A company that is publicly listed and traded on a recognized stock exchange, such as Nasdaq or NYSE. Also known as "listed entities”.
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.
Separate Account: SMAs, also referred to as managed accounts, wrap accounts or individually managed accounts, are portfolios managed exclusively for the investor according to their investing and tax preferences and requirements. The investor owns the underlying assets directly, unlike a mutual fund.
Social/Affordable Housing: An entity that generally focuses on the social/affordable housing sector for its investments. Affordable housing refers to housing units that are affordable to buy or rent by the low-income section of a society (for example, whose income is below median household income). Affordability is defined with a maximum percentage of gross income which may differ from country to country and depending on whether this is a percentage of net, gross, individual or household income.
Special Purpose Vehicle: Subsidiary created by a parent company to isolate financial risk. Its legal status is of a separate company, with its own balance sheet.
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”.
EC3
Entity commencement date
Year of commencement (listed) or Year of establishment (non-listed)
________________________
Describe the activity commencement or establishment date of the entity.
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.
Year of establishment: A date specified by the manager on which the vehicle is launched, the initial capital subscription is completed, and the commitment period commences.
EC4
Reporting year
Calendar year
Fiscal year
Specify the starting month Month
Set the entity’s annual reporting year.
Select the reporting year approach that applies to the entity.
Please note that SFDR has a reference period that relates to calendar year reporting. In case you have both financial and calendar year reporting requirements and are unsure how to proceed, contact us at gresb.com/contact for further information.
*Values in the Entity Characteristics (EC) aspect are fixed to one entity, regardless of assessment year. In order to update these please select the 'Manage Entity' setting in the 'Assessment Portal'.
Calendar year: January 1 - December 31
Fiscal year: The period used for annual financial statements. Depending on the jurisdiction the fiscal year can start on April 1, July 1, October 1, etc.
Reporting year: Responses provided in the Assessment must refer to the reporting year 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 year; however, the response does not need to have been true for the entire reporting year. GRESB does not favour the use of calendar year over fiscal year or viceversa, as long as the chosen reporting year is used consistently throughout the Assessment.
RC1
Reporting currency
Values are reported in:
Values have to be reported in Euro
To align with SFDR requirements, the reporting currency is set to Euros.
The currency used by the entity for Assessment indicators that require a monetary value as a response should be in Euros.
Where Euros is not the local currency of the entity, a conversion to Euros is expected.
RC2
Economic size
Gross asset value (required) (in millions): ____________
Revenue (optional) (in millions): ____________
Establish the economic size of the entity. GAV and revenue information is used (as denominators) to calculate intensity performance metrics in the performance indicators.
Revenue: Establish the economic size of the entity. GAV and revenue information is used (as denominators) to calculate intensity performance metrics in the performance indicators.
GAV: Establish the economic size of the entity. GAV and revenue information is used (as denominators) to calculate intensity performance metrics in the performance indicators.
Provide the entity’s GAV in millions (e.g. $75,000,000 must be reported as 75). GAV should be provided as at the end of the reporting year, and should include development and construction projects (if any).
It is mandatory to provide GAV. Revenue is optional. Estimates are acceptable (for example, annual operating costs may be used instead of revenue). Like all information provided to GRESB, this information will be kept confidential and is only shared with investors to whom you have granted permission.
Do not include a currency, as this has been reported in indicator RC1 above, but make sure the currency applied is consistent with indicator RC1.
Gross Asset Value (GAV): Do not include a currency, as this has been reported in indicator RC1 above, but make sure the currency applied is consistent with indicator RC1.
Revenue: The annual income generated by the entity.
RC3
Floor area metrics
Metrics are reported in:
m2
sq. ft.
Metrics are needed to ensure comparability for benchmarking and reporting purposes. Set the reporting units used by the entity.
Select one of the options, and use it consistently when reporting the floor area of the portfolio.
RC4
Property type and Geography
Portfolio predominant location (*): Location
Portfolio predominant property type (**): Property type
Provide information on the entity's portfolio location and property type composition. This indicator is used for reporting purposes only.
Select the predominant location in which the entity’s investments are located and the predominant property type of the portfolio using the fraction of total GAV or net operating income (NOI).
For further detailsm refer to Appendix 3a - Property Types Classification
Note: The predominant country drop-down menu includes less granular options, such as sub-regions, regions, and "Globally Diversified". The predominant property type list also includes property sectors. If an entity has a diversified portfolio, please select the "Other" option.
EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017: 5.7, Analysis-Segmental-Analysis
RC5
SFDR Product category
Article 8
Article 9
No category
Provide additional context for the answer provided (optional)
________________________
Provide information on the entity's product categorization.
Select the article that the product is categorized according to the Regulatory Technical Standards.
Article 8: Where a financial product promotes, among other characteristics, environmental or social characteristics, or a combination of those characteristics, provided that the companies in which the investments are made follow good governance practices.
Article 9: Where a financial product has sustainable investment as its objective.
Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector, accessible here
RC6
EU Taxonomy eligibility and alignment
Can the entity report on EU Taxonomy eligibility and/or alignment?
Yes
Select the applicable economic activity(ies) in which the entity has eligibility and/or has identified alignment:
Construction of new buildings
% taxonomy aligned: ____________%
Renovation of existing buildings
% taxonomy aligned: ____________%
Installation, maintenance and repair of energy efficiency equipment
% taxonomy aligned: ____________%
Installation, maintenance and repair of charging stations for electric vehicles in buildings (and parking spaces attached to buildings)
% taxonomy aligned: ____________%
Installation, maintenance and repair of instruments and devices for measuring, regulation and controlling energy performance of buildings
% taxonomy aligned: ____________%
Installation, maintenance and repair of renewable energy technologies
% taxonomy aligned: ____________%
Acquisition and ownership of buildings
% taxonomy aligned: ____________%
Investments with an environmental objective aligned with the EU Taxonomy
% taxonomy aligned: ____________%
Select the applicable entity's investment eligibility and alignment on the EU Taxonomy 3 KPIs:
Turnover
% taxonomy aligned: ____________%
CapEx
% taxonomy aligned: ____________%
OpEx
% taxonomy aligned: ____________%
Provide applicable evidence (optional)
or URL____________
Indicate where in the evidence the relevant information can be found____
No
Provide additional context for the answer provided (not validated, for reporting purposes only)
________________________
Report on the EU taxonomy eligibility and/or alignment of activities. This information can be used for EU-Taxonomy eligibility and alignment of a Financial Product (i.e. participating entity), and for pre-contractual and periodic disclosure requirements of the SFDR regulation, as specified in the SFDR templates of Annex II and IV for Article 8 products, and Annex III and V for Article 9 products.
Select the applicable economic activity(ies) in which the entity has eligibility and/or has identified alignment: Select all significant activities included in the entity's financial product that are EU taxonomy eligible and/or aligned activities as per the Commission Delegated Regulation (EU) 2021/852. If an activity is selected, provide the % aligned with the EU-Taxonomy technical screening criteria for a given environmental objective.
The Technical Screening criteria (TSC) under the Taxonomy Regulation define when an activity is deemed sustainable (Draft report of 3 August 2021 by the Platform on Sustainable Finance on preliminary recommendations for technical screening criteria for the EU taxonomy, p. 9).
In order to claim EU-Taxonomy alignment, an activity has to substantially contribute to one of 6 the environmental objectives, do not significantly harm (DNSH) the remaining 5 objectives, and comply with the minimum social safeguards.
EU Taxonomy eligibility: Select all activities that are EU taxonomy eligible. Taxonomy-eligible economic activities under the Taxonomy Regulation mean economic activities that are described in the European Commission’s delegated acts.
EU Taxonomy alignment (%): Provide the % aligned for the economic activity based on the Technical Screening Criteria (TSC).
Investments with an environmental objective aligned with the EU Taxonomy: Provide the % of activities, out of the total eligible activities, that are aligned with an environmental objective of the EU Taxonomy.
Select the applicable entity's investment eligibility and alignment on the EU Taxonomy 3 KPIs: Provide the % aligned with the 3 KPIs defined by the EU Taxonomy.
Article 8 of the Taxonomy Regulation obliges undertakings covered by Directive 2014/95/EU (the Non-Financial Reporting Directive, NFRD) to publish information on how and to what extent their activities are associated with economic activities that qualify as environmentally sustainable under the Taxonomy Regulation. For this purpose, non-financial undertakings are required to comply with that disclosure obligation to use three key performance indicators (‘KPIs’), related to environmentally sustainable economic activities, namely: Turnover, Capex, Opex.
Evidence (optional): Evidence will not be subject to manual validation for this indicator.
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 active and that the relevant page can be accessed within two steps. It is possible to upload multiple documents, as long as it’s clear where information can be found.
The provided evidence should cover the following elements:
Documents uploaded or hyperlinks provided won't be displayed in the SFDR Report and are collected for informational purposes only.
Capex: Capital expenditure (CapEx) key performance indicator (KPI) under the Taxonomy Regulation represents the proportion of the capital expenditure of an activity that is either already taxonomy-aligned or is part of a credible plan to extend or reach taxonomy- alignment.
CapEx provides a dynamic and forward-looking view of companies’ plans to transform their business activities.
Opex: Operating expenditure (OpEx) key performance indicator (KPI) under the Taxonomy Regulation represents the proportion of the operating expenditure associated with taxonomy-aligned activities or to the CapEx plan.
The operating expenditure covers direct non-capitalised costs relating to research and development, renovation measures, short-term lease, maintenance and other direct expenditures relating to the day-to-day servicing of assets of property, plant and equipment that are necessary to ensure the continued and effective use of such assets.
Turnover: Proportion of the turnover key performance indicator (KPI) under the Taxonomy Regulation represents the proportion of the net turnover derived from products or services that are taxonomy-aligned. The Turnover KPI gives a static view of the companies’ contribution to environmental goals.
Focuses on climate, environmental and social indicators applicable to investments in investee companies and real estate assets that have to be disclosed by Financial Market Participants. These are considered as part of the mandatory principle adverse impact indicators that have to be reported on.
Indicator 1
GHG emissions
The indicator below will be automatically populated in the SFDR report by GRESB, based on information provided in the reporting entity’s GRESB Asset Portal. Participants can access the Asset Portal via the Assessment Portal -> Select an entity -> Assets section, or by clicking on the Asset Level Reporting link in the fields below.
Scope 1 GHG emissions: ____________
Explanation (optional): ____________
Scope 2 GHG emissions: ____________
Explanation (optional): ____________
Scope 3 GHG emissions: ____________
Explanation (optional): ____________
Total GHG emissions: ____________
GHG emissions Data coverage (area/time): ____________
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s GHG emissions.
Participants are required to report their GHG emissions at the asset level, using the GRESB Asset Spreadsheet. See tab Instructions for detailed guidance on how to interpret and complete each field.
This indicator will be calculated in accordance with the following formula specified in the RTS:
*This indicator falls under the scope of the GRESB Estimation Model.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Scope 1 emissions: namely emissions generated from sources that are controlled by the company that issues the underlying assets; (EU)
Scope 2 emissions: namely emissions from the consumption of purchased electricity, steam, or other sources of energy generated upstream from the company that issues the underlying assets;(EU)
Scope 3 emissions*: namely all indirect emissions that are not covered by points (i) and (ii) that occur in the value chain of the reporting company, including both upstream and downstream emissions, in particular for sectors with a high impact on climate change and its mitigation;(EU)
*note that for reporting purposes, scope 3 emissions should only include operational tenant emissions. (GRESB)
Annex III of Regulation (EU) 2016/1011;
(1) of Article 3 of Regulation (EU) 2018/842 of the European Parliament and of the Council (12)
Indicator 2
Carbon Footprint
The indicator below will be automatically populated in the SFDR report by GRESB, based on information provided in the reporting entity’s GRESB Asset Portal. Participants can access the Asset Portal via the Assessment Portal -> Select an entity -> Assets section, or by clicking on the Asset Level Reporting link in the fields below.
Carbon Footprint: ____________
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s carbon footprint.
Participants are required to report their GHG emissions at the asset level, using the GRESB Asset Spreadsheet. See tab Instructions for detailed guidance on how to interpret and complete each field.
This indicator will be calculated in accordance with the following formula specified in the RTS:
Note that this indicator will only be populated in the SFDR Report if the following fields are reported at the asset level:
*This indicator falls under the scope of the GRESB Estimation Model.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Carbon footprint: Total greenhouse gas emissions (Scope 1, 2 and 3) divided by the GAV of the portfolio. (GRESB)
Indicator 3
GHG intensity of investee companies
The indicator below will be automatically populated in the SFDR report by GRESB, based on information provided in the reporting entity’s GRESB Asset Portal. Participants can access the Asset Portal via the Assessment Portal -> Select an entity -> Assets section, or by clicking on the Asset Level Reporting link in the fields below.
GHG intensity of investee companies: ____________
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s greenhouse gas intensity.
Participants are required to report their GHG emissions at the asset level, using the GRESB Asset Spreadsheet. See tab Instructions for detailed guidance on how to interpret and complete each field.
This indicator will be calculated in accordance with the following formula specified in the RTS:
Note that this indicator will only be populated in the SFDR Report if the following fields are reported at the asset level:
*This indicator falls under the scope of the GRESB Estimation Model.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 4
Exposure to companies active in the fossil fuel sector
Is the entity active in the fossil fuel sector?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s exposure to the fossil fuel sector
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Companies active in the fossil fuel sector:means companies that derive any revenues from exploration, mining, extraction, production, processing, storage, refining or distribution, including transportation, storage and trade, of fossil fuels (EU).
Indicator 6
Energy consumption intensity per high impact climate sector
The indicator below will be automatically populated in the SFDR report by GRESB, based on information provided in the reporting entity’s GRESB Asset Portal. Participants can access the Asset Portal via the Assessment Portal -> Select an entity -> Assets section, or by clicking on the Asset Level Reporting link in the fields below.
Energy consumption intensity: ____________
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s energy consumption intensity per high-impact climate sector.
Participants are required to report their energy consumption at the asset level, using the GRESB Asset Spreadsheet. See tab Instructions for detailed guidance on how to interpret and complete each field.
Note that this indicator will only be populated in the SFDR Report if the following fields are reported at the asset level:
*This indicator falls under the scope of the GRESB Estimation Model.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Energy consumption intensity: means the ratio of energy consumption per unit of activity, output or any other metric of the investee company to the total energy consumption of that investee company; (EU).
High impact climate sectors: the sectors listed in Sections A to H and Section L of Annex I to Regulation (EC) No 1893/2006 of the European Parliament and of the Council (see reference section below) (EU).
Annex I to Regulation (EC) No 1893/2006 of the European Parliament and of the Council
Indicator 7
Activities negatively affecting biodiversity-sensitive areas
Does the entity have sites/operations located in or near to biodiversity sensitive areas where activities negatively affect those areas?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s negative impacts on biodiversity-sensitive areas.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Biodiversity: means the variability among living organisms arising from all sources including terrestrial, marine and other aquatic ecosystems and the ecological complexes of which they are part and includes diversity within species, between species and of ecosystems; see here for additional information.
Biodiversity-sensitive areas: means Natura 2000 network of protected areas, UNESCO World Heritage sites and Key Biodiversity Areas (‘KBAs’), as well as other protected areas, as referred to in the Annex of Commission Delegated Regulation (EU) …/…. of … supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to climate change mitigation or climate change adaptation and for determining whether that economic activity causes no significant harm to any of the other environmental objectives (24); (EU).
Protected area: means an area designated under the European Environment Agency’s Common Database on Designated Areas (CDDA); (EU).
Indicator 8
Emissions to water
Can the entity report on emissions to water?
Yes
Water emissions per million EUR invested: ____________
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s emissions to water.
Reporting-year performance: Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Emissions to water: means direct emissions of priority substances as defined in Article 2(30) of Directive 2000/60/EC of the European Parliament and of the Council (16) and direct nitrates, direct phosphate emissions, direct pesticides emissions as referred to in that Directive, Council Directive of 12 December 1991 concerning the protection of waters against pollution caused by nitrates from agricultural sources (91/676/EEC) (17), Council Directive 91/271/EEC of 21 May 1991 concerning urban waste-water treatment (18) and Directive 2010/75/EU of the European Parliament and of the Council (19);(EU).
30. "Priority substances" means substances identified in accordance with Article 16(2) and listed in Annex X. Among these substances there are "priority hazardous substances" which means substances identified in accordance with Article 16(3) and (6) for which measures have to be taken in accordance with Article 16(1) and (8). (EU).
Indicator 9
Hazardous waste and radioactive waste ratio
The field "Hazardous waste per million EUR invested" will be automatically populated in the SFDR report by GRESB, based on information provided in the reporting entity’s GRESB Asset Portal. Participants can access the Asset Portal via the Assessment Portal -> Select an entity -> Assets section, or by clicking on the Asset Level Reporting link in the fields below.
Hazardous waste per million EUR invested: ____________
Explanation (optional): ____________
Can the entity report on radioactive waste generated?
Yes
Radioactive waste per million EUR invested: ____________
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s hazardous waste and radioactive ratio.
Hazardous waste ratio:Participants are required to report their hazardous waste generation at the asset level, using the GRESB Asset Spreadsheet. See tab Instructions for detailed guidance on how to interpret and complete each field.
The hazardous waste ratio field will be calculated in accordance with the formula specified in the RTS.
Note that this indicator will only be populated in the SFDR Report if the following fields are reported at the asset level:
Radioactive waste ratio: Select Yes or No
Reporting-year performance: Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Hazardous waste: means hazardous waste as defined in Article 3(2) of Directive 2008/98/EC of the European Parliament and of the Council.
Radioactive waste: means radioactive material in gaseous, liquid or solid form for which no further use is foreseen or considered by the Member State or by a legal or natural person whose decision is accepted by the Member State, and which is regulated as radioactive waste by a competent regulatory authority under the legislative and regulatory framework of the Member State; (EU).
Hazardous waste Article 3(2) of Directive 2008/98/EC of the European Parliament and of the Council
Radioactive waste Article 3(7) of Council Directive 2011/70/Euratom
Indicator 10
Violations of UN Global Compact principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises
Was the entity involved in violations of the UNGC principles or OECD Guidelines for Multinational Enterprises?
Yes
Share of investments: ____________%
No
No answer
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s violations of UNGC principles or OECD Guidelines for multinational enterprises.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
UNGC principles: means Principles 1 to 10 or the ‘Ten Principles’ of the United Nations Global Compact;
Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human rights abuses.
Labour
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
Environment
Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies.
Anti-Corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
OECD DUE DILIGENCE GUIDANCE FOR RESPONSIBLE BUSINESS CONDUCT (2018)
Indicator 11
Lack of processes and compliance mechanisms to monitor compliance with UN Global Compact principles and OECD Guidelines for Multinational Enterprises
Does the entity have policies to monitor compliance with the UNGC principles or OECD Guidelines for Multinational Enterprises?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
Does the entity have grievance /complaints handling mechanisms to address violations of the UNGC principles or OECD Guidelines for Multinational Enterprises?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of policies and grievance/complaints handling mechanisms in compliance with UNGC principles and OECD guidelines for multinational enterprises.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Human rights policy: a policy commitment approved at board level on human rights covering the economic activities of the investee company consistent with UN Guiding Principles on Business and Human Rights; (EU).
OECD DUE DILIGENCE GUIDANCE FOR RESPONSIBLE BUSINESS CONDUCT (2018)
Indicator 12
Unadjusted gender pay gap
Can the entity report on gender pay gap?
Yes
Average unadjusted gender pay gap: ____________
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s average unadjusted gender pay gap.
Select Yes or No: If selecting ‘’Yes’’, If selecting “Yes”, the entity must be actively tracking and reporting on all of the mandatory reporting metrics.
If selecting "Yes", provide the average unadjusted gender pay gap.
Reporting-year performance: Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Unadjusted gender pay gap: the difference between average gross hourly earnings of male paid employees and of female paid employees as a percentage of average gross hourly earnings of male paid employees; (EU).
Indicator 13
Board gender diversity
Can the entity report on board gender diversity?
Yes
Average ratio of female to male board members: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s average ratio of female to male board members.
Select Yes or No: If selecting ‘’Yes’’, If selecting “Yes”, the entity must be actively tracking and reporting on all of the mandatory reporting metrics.
If selecting “Yes”, provide the average ratio of female to male board members.
Reporting-year performance: Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 14
Exposure to controversial weapons (anti-personnel mines, cluster munitions, chemical weapons and biological weapons)
Was the entity involved in the manufacture or selling of controversial weapons (land mines and cluster bombs)?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s exposure to controversial weapons.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 17
Exposure to fossil fuels through real estate assets
Can the entity report on its exposure to fossil fuels through real estate assets?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s exposure to fossil fuels through real estate assets.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 18
Exposure to energy-inefficient real estate assets
Can the entity report on its exposure to energy-inefficient real estate assets?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s exposure to energy-inefficient real estate assets.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Inefficient real estate assets shall be calculated in accordance with the following formula from the RTS:
Reporting-year performance: Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
‘Nearly zero-energy building (NZEB)’, ‘primary energy demand (PED)’ and ‘energy performance certificate (EPC)’ shall have the meanings given to them in paragraphs 2, 5 and 12 of Article 2 of Directive 2010/31/EU of the European Parliament and of the Council. (EU)
Directive 2010/31/EU of the European Parliament and of the Council of 19 May 2010 on the energy performance of buildings (recast) (OJ L 153, 18.6.2010, p. 13)
Focus on additional climate and other environment-related indicators, these are considered to be optional although participants are encouraged to report on at least one of those indicators so financial market participants can abide by regulatory requirements.
Indicator 1
Emissions of inorganic pollutants
Can the entity report on inorganic pollutants?
Yes
Inorganic pollutants equivalent per Million EUR invested: ____________
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s emissions of inorganic pollutants. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, If selecting “Yes”, the entity must be actively tracking and reporting on all of the mandatory reporting metrics.
If selecting ‘’Yes’’, provide the emissions of inorganic pollutants equivalent per Million EUR invested.
Reporting-year performance: Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Inorganic pollutants: means emissions within or lower than the emission levels associated with the best available techniques (BAT-AEL) ranges set out in the Best Available Techniques Reference Document (BREF) for the Large Volume Inorganic Chemicals- Solids and Others industry; (EU).
Best Available Techniques Reference Document (BREF) for the Large Volume Inorganic Chemicals- Solids
Indicator 2
Emissions of air pollutants
Can the entity report on air pollutants?
Yes
Air pollutants equivalent per Million EUR invested: ____________
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s emissions of air pollutants. This indicator is considered to be optional for SFDR.
Select Yes or No:If selecting “Yes”, the entity must be actively tracking and reporting on all of the mandatory reporting metrics.
If selecting ‘’Yes’’, provide the emissions of air pollutants equivalent per Million EUR invested.
Reporting-year performance: Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Air pollutants: direct sulphur dioxides (SOx/SO2) emissions, direct nitrogen oxides (NOx/NO2) emissions, direct non-methane volatile organic compounds (NMVOC) emissions and direct particulate matter (PM2.5) emissions as defined in points (5) to (8) of Article 3 of, as well as direct ammonia (NH3) and direct total heavy metals (HM) emissions (encompassing cadmium, mercury and lead) as referred to in Directive (EU) 2016/2284 of the European Parliament and of the Council (28); and
(5) ‘sulphur dioxide’ or ‘SO2’ means all sulphur compounds expressed as sulphur dioxide, including sulphur trioxide (SO3), sulphuric acid (H2SO4), and reduced sulphur compounds such as hydrogen sulphide (H2S), mercaptans and dimethyl sulphides; (EU).
(6) ‘nitrogen oxides’ or ‘NOx’ means nitric oxide and nitrogen dioxide, expressed as nitrogen dioxide; (EU).
(7) ‘non-methane volatile organic compounds’ or ‘NMVOC’ means all organic compounds other than methane, that are capable of producing photochemical oxidants by reaction with nitrogen oxides in the presence of sunlight; (EU).
(8) ‘fine particulate matter’ or ‘PM2,5’ means particles with an aerodynamic diameter equal to or less than 2,5 micrometres (μm); (EU).
Directive (EU) 2016/2284 of the European Parliament and of the Council
Indicator 3
Emissions of ozone depletion substances
Can the entity report on ozone depletion substances?
Yes
Ozone depletion substances equivalent per Million EUR invested
________________________
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s emissions of ozone depletion substances. This indicator is considered to be optional for SFDR.
Select Yes or No:If selecting “Yes”, the entity must be actively tracking and reporting on all of the mandatory reporting metrics.
If selecting ‘’Yes’’, provide the emissions of ozone depletion equivalent per Million EUR invested.
Reporting-year performance: Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Ozone depletion substances: mean substances listed in the Montreal Protocol on Substances that Deplete the Ozone Layer (29) (see reference below) (EU).
The Montreal Protocol on Substances that Deplete the Ozone Layer
Indicator 4
Investments in companies without carbon emission reduction initiatives
Does the entity have carbon emission reduction initiatives?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s carbon emission reduction initiatives. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 5
Breakdown of energy consumption by type of non-renewable sources of energy
Can the entity report on the breakdown of energy consumption by non-renewable sources of energy?
Yes
Portion of renewable electricity out of the total renewable energy consumed
________________________
Portion of renewable fuels out of the total renewable energy consumed
________________________
Portion of renewable district heating & cooling out of the total renewable energy consumed
________________________
No
The fields below will be automatically populated in the SFDR report by GRESB, based on information provided in the reporting entity’s GRESB Asset Portal. Participants can access the Asset Portal via the Assessment Portal -> Select an entity -> Assets section, or by clicking on the Asset Level Reporting link in the fields below.
Total electricity consumption: ____________
Total fuel(s) consumption: ____________
Total district heating & cooling consumption: ____________
Share of electricity consumption from non-renewable sources: ____________
Share of fuels consumption from non-renewable sources: ____________
Share of district heating & cooling consumption from non-renewable sources
________________________
Energy Data coverage (area/time): ____________
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s energy consumption by type of non-renewable energy sources. This indicator is considered to be optional for SFDR.
Select Yes or No
If selecting "Yes", provide:
Portion of renewable electricity out of the total renewable energy consumed: participants are required to provide the share of renewable electricity out of the total renewable energy consumed directly in the Assessment Portal
Portion of renewable fuels out of the total renewable energy consumed: participants are required to provide the share of renewable fuels out of the total renewable energy consumed directly in the Assessment Portal
Portion of renewable district heating & cooling out of the total renewable energy consumed: participants are required to provide the share of renewable district heating & cooling out of the total renewable energy consumed directly in the Assessment Portal
Participants are required to report their renewable and non-renewable energy consumption at the asset level, using the GRESB Asset Spreadsheet. See tab Instructions for detailed guidance on how to interpret and complete each field.
*This indicator falls under the scope of the GRESB Estimation Model.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 6
Water usage and recycling
The indicator below will be automatically populated in the SFDR report by GRESB, based on information provided in the reporting entity’s GRESB Asset Portal. Participants can access the Asset Portal via the Assessment Portal -> Select an entity -> Assets section, or by clicking on the Asset Level Reporting link in the fields below.
Average amount of water consumed and reclaimed by the investee companies (in cubic meters) per million EUR of revenue of investee companies
________________________
Explanation (optional): ____________
Weighted average percentage of water recycled and reused by investee companies
________________________
Water Data coverage (area/time): ____________
Explanation (optional): ____________
The intent of this indicator is to assess the entity's water usage and recycling. This indicator is considered to be optional for SFDR.
Participants are required to report their water usage and recycling at the asset level, using the GRESB Asset Spreadsheet. See tab Instructions for detailed guidance on how to interpret and complete each field.
Note that this indicator will only be populated in the SFDR Report if the following fields are reported at the asset level:
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 7
Investments in companies without water management policies
Does the entity have water management policies?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of policies that address water management. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 8
Exposure to areas of high water stress
Does the entity have sites located in areas of high water stress without a water management policy?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of and scope water management policies in areas of high water stress. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Areas of high water stress:means regions where the percentage of total water withdrawn is high (40-80%) or extremely high (greater than 80%) in the World Resources Institute’s (WRI) Water Risk Atlas tool “Aqueduct”; (EU).
World Resources Institute’s (WRI) Water Risk Atlas tool “Aqueduct”
Indicator 9
Investments in companies producing chemicals
Does the entity produce chemicals and fall under Division 20.2 of Annex I to Regulation (EC) No 1893/2006?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the entity’s involvement in the production of chemicals. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Activities producing chemicals based on the NACE (Statistical classification of economic activities):
Statistical classification of economic activities NACE Revision 2
Indicator 10
Land degradation, desertification, soil sealing
Does the entity have activities which cause land degradation, desertification or soil sealing
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the entity’s involvement in activities which cause land degradation, desertification and soil sealing. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Soil degradation: means the diminishing capacity of the soil to provide ecosystem goods and services as desired by its stakeholders, according to the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) as referred to in paragraph 100 of Decision No 1386/2013/EU;(EU).
Indicator 11
Investments in companies without sustainable land/agriculture practices
Does the entity have sustainable land/agriculture practices policies?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of policies that address sustainable land/agriculture practices. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Soil degradation: means the diminishing capacity of the soil to provide ecosystem goods and services as desired by its stakeholders, according to the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) as referred to in paragraph 100 of Decision No 1386/2013/EU;(EU).
Indicator 12
Investments in companies without sustainable oceans/seas practices
Does the entity have sustainable oceans/seas practices policies?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of policies that address sustainable oceans/seas practices. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 13
Non-recycled waste ratio
The indicator below will be automatically populated in the SFDR report by GRESB, based on information provided in the reporting entity’s GRESB Asset Portal. Participants can access the Asset Portal via the Assessment Portal -> Select an entity -> Assets section, or by clicking on the Asset Level Reporting link in the fields below.
Weight in tonnes of non-recycled waste generated by investee companies per million EUR invested, expressed as a weighted average
________________________
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s non-recycled waste ratio. This indicator is considered to be optional for SFDR.
Participants are required to report their GHG emissions at the asset level, using the GRESB Asset Spreadsheet. See tab Instructions for detailed guidance on how to interpret and complete each field.
This indicator will be calculated in accordance with the formula specified in the RTS.
Note that this indicator will only be populated in the SFDR Report if the following fields are reported at the asset level:
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 14
Natural species and protected areas
Does the entity have operations that affect threatened species?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
Does the entity have a biodiversity protection policy covering operational sites owned, leased, managed in, or adjacent to, a protected area or an area of high biodiversity value outside protected areas?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s operations in protected areas and the existence of biodiversity protection policies. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Biodiversity-sensitive areas: means Natura 2000 network of protected areas, UNESCO World Heritage sites and Key Biodiversity Areas (‘KBAs’), as well as other protected areas, as referred to in the Annex of Commission Delegated Regulation (EU) …/…. of … supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to climate change mitigation or climate change adaptation and for determining whether that economic activity causes no significant harm to any of the other environmental objectives (24); (EU).
Threatened species: means endangered species (flora and fauna) listed in the European Red List or the IUCN Red List, as referred to in Section 7 of Commission Delegated Regulation (EU) (SFDR) (see references) (EU).
Indicator 15
Deforestation
Does the entity have a deforestation policy?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of deforestation policies. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Deforestation: means the human-induced conversion of forested land to non-forested land, which can be permanent, when this change is definitive, or temporary when this change is part of a cycle that includes natural or assisted regeneration, according to the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) as referred to in paragraph 100 of Decision No 1386/2013/EU of the European Parliament and of the Council (25); (EU).
‘Living well, within the limits of our planet’ Paragraph 100 of Decision No 1386/2013/EU
Indicator 16
Share of securities not issued under Union legislation on environmentally sustainable bonds
Does the entity own securities that are not issued under Union legislation on environmentally sustainable bonds?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the entity’s share of securities not identified as green. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 18
GHG emissions
The indicator below will be automatically populated in the SFDR report by GRESB, based on information provided in the reporting entity’s GRESB Asset Portal. Participants can access the Asset Portal via the Assessment Portal -> Select an entity -> Assets section, or by clicking on the Asset Level Reporting link in the fields below.
Scope 1 GHG emissions: ____________
Explanation (optional): ____________
Scope 2 GHG emissions: ____________
Explanation (optional): ____________
Scope 3 GHG emissions: ____________
Explanation (optional): ____________
Total GHG emissions generated by real estate assets: ____________
GHG emissions Data coverage (area/time): ____________
Explanation (optional): ____________
The intent of this indicator is to assess the GHG emissions of the entity’s portfolio. This indicator is considered to be optional for SFDR.
Participants are required to report their GHG emissions at the asset level, using the GRESB Asset Spreadsheet. See tab Instructions for detailed guidance on how to interpret and complete each field.
*This indicator falls under the scope of the GRESB Estimation Model.
Scope 1 emissions: namely emissions generated from sources that are controlled by the company that issues the underlying assets; (EU)
Scope 2 emissions: namely emissions from the consumption of purchased electricity, steam, or other sources of energy generated upstream from the company that issues the underlying assets;(EU)
Scope 3 emissions*: namely all indirect emissions that are not covered by points (i) and (ii) that occur in the value chain of the reporting company, including both upstream and downstream emissions, in particular for sectors with a high impact on climate change and its mitigation;(EU)
*note that for reporting purposes, scope 3 emissions should only include operational tenant’s emissions. (GRESB)
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Annex III of Regulation (EU) 2016/1011;
(1) of Article 3 of Regulation (EU) 2018/842 of the European Parliament and of the Council (12)
Indicator 19
Energy consumption intensity
The indicator below will be automatically populated in the SFDR report by GRESB, based on information provided in the reporting entity’s GRESB Asset Portal. Participants can access the Asset Portal via the Assessment Portal -> Select an entity -> Assets section, or by clicking on the Asset Level Reporting link in the fields below.
Energy consumption intensity: ____________
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s energy consumption intensity. This indicator is considered to be optional for SFDR.
Participants are required to report their energy consumption at the asset level, using the GRESB Asset Spreadsheet. See tab Instructions for detailed guidance on how to interpret and complete each field.
*This indicator falls under the scope of the GRESB Estimation Model.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Energy consumption intensity: the ratio of energy consumption per unit of activity, output or any other metric of the investee company to the total energy consumption of that investee company; (EU)*
*note that this indicator will use floor area as the denominator, differently than indicator 6 of table 1. (GRESB)
Indicator 20
Waste production in operations
The indicator below will be automatically populated in the SFDR report by GRESB, based on information provided in the reporting entity’s GRESB Asset Portal. Participants can access the Asset Portal via the Assessment Portal -> Select an entity -> Assets section, or by clicking on the Asset Level Reporting link in the fields below.
Share of investments: ____________
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s waste production in operations. This indicator is considered to be optional for SFDR.
Participants are required to report their waste production at the asset level, using the GRESB Asset Spreadsheet. See tab Instructions for detailed guidance on how to interpret and complete each field.
This indicator will be calculated in a binary way. If there’s any waste diverted in an asset, this asset will count towards the share of investment equipped with facilities for waste sorting and covered with waste recovery and recycling contracts.
For the purposes of this indicator, the share of investments is calculated based on floor area.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 21
Raw materials consumption for new construction and major renovations
Can the entity report the share of raw building materials (excluding recovered, recycled and biosourced) compared to the total weight of building materials used in new construction and major renovations?
Yes: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s raw materials consumption for new construction and major renovations. This indicator is considered to be optional for SFDR.
Select Yes or No
If selecting ‘’yes’’, provide the share of raw building materials (excluding recovered, recycled and biosourced) compared to the total weight of building materials used in new construction and major renovations.
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 22
Land artificialisation
Can the entity report the share of non-vegetated surface area (surfaces that have not been vegetated in ground, as well as on roofs, terraces and walls) compared to the total surface area of the plots of all assets?
Yes: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s share of non-vegetated surface area (surfaces that have not been vegetated in ground, as well as on roofs, terraces and walls) compared to the total surface area of the plots of all assets. This indicator is considered to be optional for SFDR.
Select Yes or No
If selecting ‘’Yes’’, provide the share of share of non-vegetated surface area (surfaces that have not been vegetated in ground, as well as on roofs, terraces and walls) compared to the total surface area of the plots of all assets
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Focus on additional indicators for social and employee, respect for human rights, anti-corruption and anti-bribery matters, these are considered to be optional although participants are encouraged to report on at least one of those indicators so financial market participants can abide by regulatory requirements.
Indicator 1
Investments in companies without workplace accident prevention policies
Does the entity have a workplace accident prevention policy?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of workplace accident prevention policies. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 2
Rate of accidents
Can the entity report on rate of accidents?
Yes
Rate of accidents: ____________
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s accident rates. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 3
Number of days lost for injuries, accidents, fatalities, illness
Can the entity report on the number of days lost to injuries, accidents, fatalities or illness?
Yes
Number of workdays lost to injuries: ____________
Number of workdays lost to accidents: ____________
Number of workdays lost to fatalities: ____________
Number of workdays lost to illness: ____________
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s number of days lost to injuries, accidents, fatalities or illness. This indicator is considered to be optional for SFDR.
Select Yes or No
If selecting ‘’Yes’’, provide:
Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps gain an understanding of the methodologies, assumptions used.
Indicator 4
Lack of a supplier code of conduct
Does the entity have a supplier code of conduct (against unsafe working conditions, precarious work, child labour and forced labour)?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of a supplier code of conduct. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 5
Lack of grievance/complaints handling mechanism related to employee matters
Does the entity have a grievance/complaints handling mechanism?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of a grievance complaint mechanism. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 6
Insufficient whistleblower protection
Does the entity have policies on the protection of whistleblowers?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of policies on the protection of whistleblowers. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 7
Incidents of discrimination
Can the entity report on incidents of discrimination?
Yes
Number of incidents of discrimination reported: ____________
Number of incidents of discrimination leading to sanctions: ____________
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s incidents of discrimination. This indicator is considered to be optional for SFDR.
Select Yes or No
If selecting ‘’Yes’’, provide:
Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps gain an understanding of the methodologies, assumptions used.
Indicator 8
Excessive CEO pay ratio
Can the entity report the average ratio of the annual total compensation for the highest compensated individual to the median annual total compensation for all employees (excluding the highest-compensated individual)?
Yes
Annual total compensation for the highest compensated individual
________________________
Median annual total compensation for all employees (excluding the highest-compensated individual)
________________________
Average ratio within investee companies of the annual total compensation for the highest compensated individual to the median annual total compensation for all employees (excluding the highest-compensated individual)
________________________
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s CEO pay ratio. This indicator is considered to be optional for SFDR.
Select Yes or No
If selecting ‘’Yes’’, provide:
Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
The ‘Average ratio within investee companies of the annual total compensation for the highest compensated individual to the median annual total compensation for all employees (excluding the highest-compensated individual)’ will be calculated by GRESB based on the values provided for the metrics above.
Explanation (optional): Provide context to the answer that was provided, this helps gain an understanding of the methodologies, assumptions used.
Indicator 9
Lack of human rights policy
Does the entity have a human rights policy?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of a human rights policy. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 10
Lack of due diligence
Does the entity have a due diligence process to identify, prevent, mitigate and address adverse human rights impacts?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of a due diligence process to identify, prevent, mitigate and address adverse human rights impacts. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 11
Lack of processes and measures for preventing trafficking in human beings
Does the entity have policies against trafficking in human beings?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of policies against trafficking in human beings. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 12
Operations and suppliers at significant risk of incidents of child labour
Does the entity have exposure to operations and suppliers at significant risk of incidents of child labour exposed to hazardous work in terms of geographic areas or type of operation?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s exposure to child labour and hazardous work. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 13
Operations and suppliers at significant risk of incidents of forced or compulsory labour
Does the entity have exposure to operations and suppliers at significant risk of incidents of forced or compulsory labour in terms in terms of geographic areas and/or the type of operation?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s exposure to operations and suppliers at risk of forced or compulsory labour. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 14
Number and nature of identified cases of severe human rights issues and incidents
Can the entity report on human rights issues and incidents?
Yes
Number of cases of severe human rights issues and incidents: ____________
Nature of cases of severe human rights issues and incidents: ____________
No
Explanation (optional): ____________
The intent of this indicator is to assess the entity’s identified cases of severe human rights issues and incidents. This indicator is considered to be optional for SFDR.
Select Yes or No
If selecting ‘’Yes’’, provide:
Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps gain an understanding of the methodologies, assumptions used.
Indicator 15
Lack of anti-corruption and anti-bribery policies
Does the entity have policies on anti-corruption and anti-bribery consistent with the United Nations Convention against Corruption?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify the existence of policies on anti-corruption and anti-bribery consistent with the United Nations convention against corruption. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 16
Cases of insufficient action taken to address breaches of standards of anti-corruption and anti-bribery
Has the entity identified insufficiencies in actions taken to address breaches in procedures and standards of anti-corruption and anti-bribery?
Yes
Share of investments: ____________%
No
Explanation (optional): ____________
The intent of this indicator is to identify insufficient actions taken to address breaches of standards of anti-corruption and anti-bribery. This indicator is considered to be optional for SFDR.
Select Yes or No: If selecting ‘’Yes’’, provide the share of investments. Share of investments should be calculated based on Gross Asset Value (GAV).
Explanation (optional): Provide context to the answer that was provided, this helps investors gain an understanding of the methodologies, assumptions used.
Indicator 17
Number of convictions and amount of fines for violation of anti-corruption and anti-bribery laws
Can the entity report the number of convictions and amount of fines for violations of anti-corruption and anti-bribery laws?
Yes
Number of convictions for violations of anti-corruption and anti-bribery laws
________________________
Amount of fines for violations of anti-corruption and anti-bribery laws
________________________
No
Explanation (optional): ____________
The intent of this indicator is to assess the number of convictions and amount of fines for violation of anti-corruption and anti-bribery laws. This indicator is considered to be optional for SFDR.
Select Yes or No
If selecting ‘’Yes’’, provide:
Enter data for performance during the reporting year for each metric. ‘Zero’ is an acceptable answer if it is true and accurate.
Explanation (optional): Provide context to the answer that was provided, this helps gain an understanding of the methodologies, assumptions used.
Source: Annex 1 SFDR
For the purposes of this Annex, the following definitions shall apply:
(1) ‘scope 1, 2 and 3 GHG emissions’ means the scope of greenhouse gas emissions referred to in points (1)(e)(i) to (iii) of Annex III to Regulation (EU) 2016/1011 of the European Parliament and of the Council1;
(2) ‘greenhouse gas (GHG) emissions’ means greenhouse gas emissions as defined in Article 3, point (1), of Regulation (EU) 2018/842 of the European Parliament and of the Council2;
(3) ‘weighted average’ means a ratio of the weight of the investment by the financial market participant in an investee company in relation to the enterprise value of the investee company;
(4) ‘enterprise value’ means the sum, at fiscal year-end, of the market capitalisation of ordinary shares, the market capitalisation of preferred shares, and the book value of total debt and non-controlling interests, without the deduction of cash or cash equivalents;
(5) ‘companies active in the fossil fuel sector’ means companies that derive any revenues from exploration, mining, extraction, production, processing, storage, refining or distribution, including transportation, storage and trade, of fossil fuels as defined in Article 2, point (62), of Regulation (EU) 2018/1999 of the European Parliament and of the Council3;
(6) ‘renewable energy sources’ means renewable non-fossil sources, namely wind, solar (solar thermal and solar photovoltaic) and geothermal energy, ambient energy, tide, wave and other ocean energy, hydropower, biomass, landfill gas, sewage treatment plant gas, and biogas;
(7) ‘non-renewable energy sources’ means energy sources other than those referred to in point 6;
(8) ‘energy consumption intensity’ means the ratio of energy consumption per unit of activity, output or any other metric of the investee company to the total energy consumption of that investee company;
(9) ‘high impact climate sectors’ means the sectors listed in Sections A to H and Section L of Annex I to Regulation (EC) No 1893/2006 of the European Parliament and of the Council 4;
(10) ‘protected area’ means designated areas in the European Environment Agency’s Common Database on Designated Areas (CDDA0);
(11) ‘area of high biodiversity value outside protected areas’ means land with high biodiversity value as referred to in Article 7b(3) of Directive 98/70/EC of the European Parliament and of the Council 5;
(12) ‘emissions to water’ means direct emissions of priority substances as defined in Article 2(30) of Directive 2000/60/EC of the European Parliament and of the Council6 and direct emissions of nitrates, phosphates and pesticides 6;
(13) ‘areas of high water stress’ means regions where the percentage of total water withdrawn is high (40-80%) or extremely high (greater than 80%) in the World Resources Institute’s (WRI) Water Risk Atlas tool “Aqueduct”;
(14) ‘hazardous waste and radioactive waste’ means hazardous waste and radioactive waste;
(15) ‘hazardous waste’ means hazardous waste as defined in Article 3(2) of Directive 2008/98/EC of the European Parliament and of the Council7;
(16) ‘radioactive waste’ means radioactive waste as defined in Article 3(7) of Council Directive 2011/70/Euratom8;
(17) ‘non-recycled waste’ means any waste not recycled within the meaning of ‘recycling’ in Article 3(17) of Directive 2008/98/EC;
(18) ‘activities negatively affecting biodiversity-sensitive areas’ means activities that are characterised by all of the following:
(a) those activities lead to the deterioration of natural habitats and the habitats of species and disturb the species for which a protected area has been designated;
(b) for those activities, none of the conclusions, mitigation measures or impact assessments adopted pursuant to any of the following Directives or national provisions or international standards that are equivalent to those Directives have been implemented:
(i) Directive 2009/147/EC of the European Parliament and of the Council 9;
(ii) Council Directive 92/43/EEC10 10;
(iii) an Environmental Impact Assessment (EIA) as defined in Article 1(2), point (g), of Directive 2011/92/EU of the European Parliament and of the Council11 11;
(iv) for activities located in third countries, conclusions, mitigation measures or impact assessments adopted in accordance with national provisions or international standards that are equivalent to the Directives and impact assessments listed in points (i), (ii) and (iii);
(19) ‘biodiversity-sensitive areas’ means Natura 2000 network of protected areas, UNESCO World Heritage sites and Key Biodiversity Areas (‘KBAs’), as well as other protected areas, as referred to in Appendix D of Annex II to Commission Delegated Regulation (EU) 2021/213912 12;
(20) ‘threatened species’ means endangered species, including flora and fauna, listed in the European Red List or the IUCN Red List, as referred to in Section 7 of Annex II to Delegated Regulation (EU) 2021/2139;
(21) ‘deforestation’ means the temporary or permanent human-induced conversion of forested land to non-forested land;
(22) ‘UN Global Compact principles’ means the ten Principles of the United Nations Global Compact;
(23) ‘unadjusted gender pay gap’ means the difference between average gross hourly earnings of male paid employees and of female paid employees as a percentage of average gross hourly earnings of male paid employees;
(24) ‘board’ means the administrative, management or supervisory body of a company;
(25) ‘human rights policy’ means a policy commitment approved at board level on human rights that the economic activities of the investee company shall be in line with the UN Guiding Principles on Business and Human Rights;
(26) ‘whistleblower’ means ‘reporting person’ as defined in Article 5(7) of Directive (EU) 2019/1937 of the European Parliament and of the Council13;
(27) ‘inorganic pollutants’ means emissions within or lower than the emission levels associated with the best available techniques (BAT-AEL) as defined in Article 3, point (13) of Directive 2010/75/EU of the European Parliament and of the Council14, for the Large Volume Inorganic Chemicals- Solids and Others industry 14;
(28) ‘air pollutants’ means direct emissions of sulphur dioxides (SO2), nitrogen oxides (NOx), non-methane volatile organic compounds (NMVOC), and fine particulate matter (PM2,5) as defined in Article 3, points (5) to (8), of Directive (EU) 2016/2284 of the European Parliament and of the Council 15, ammonia (NH3) as referred to in that Directive and heavy metals (HM) as referred to in Annex I to that Directive ;
(29) ‘ozone depletion substances’ mean substances listed in the Montreal Protocol on Substances that Deplete the Ozone Layer.
1 Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (OJ L 171, 29.6.2016, p. 1).↩
2 Regulation (EU) 2018/842 of the European Parliament and of the Council of 30 May 2018 on binding annual greenhouse gas emission reductions by Member States from 2021 to 2030 contributing to climate action to meet commitments under the Paris Agreement and amending Regulation (EU) No 525/2013 (OJ L 156, 19.6.2018, p. 26).↩
3 Regulation (EU) 2018/1999 of the European Parliament and of the Council of 11 December 2018 on the Governance of the Energy Union and Climate Action, amending Regulations (EC) No 663/2009 and (EC) No 715/2009 of the European Parliament and of the Council, Directives 94/22/EC, 98/70/EC, 2009/31/EC, 2009/73/EC, 2010/31/EU, 2012/27/EU and 2013/30/EU of the European Parliament and of the Council, Council Directives 2009/119/EC and (EU) 2015/652 and repealing Regulation (EU) No 525/2013 of the European Parliament and of the Council (OJ L 328, 21.12.2018, p. 1).↩
4Regulation (EC) No 1893/2006 of the European Parliament and of the Council of 20 December 2006 establishing the statistical classification of economic activities NACE Revision 2 and amending Council Regulation (EEC) No 3037/90 as well as certain EC Regulations on specific statistical domains Text with EEA relevance (OJ L 393, 30.12.2006, p. 1–39).↩
5 Directive 98/70/EC of the European Parliament and of the Council of 13 October 1998 relating to the quality of petrol and diesel fuels and amending Council Directive 93/12/EEC (OJ L 350, 28.12.1998, p. 58).↩
6 Directive 2000/60/EC of the European Parliament and of the Council of 23 October 2000 establishing a framework for Community action in the field of water policy (OJ L 327, 22.12.2000, p. 1).↩
7 Directive 2008/98/EC of the European Parliament and of the Council of 19 November 2008 on waste and repealing certain Directives (OJ L 312, 22.11.2008, p. 3).↩
8 Council Directive 2011/70/Euratom of 19 July 2011 establishing a Community framework for the responsible and safe management of spent fuel and radioactive waste (OJ L 199, 2.8.2011, p. 48).↩
9 Directive 2009/147/EC of the European Parliament and of the Council of 30 November 2009 on the conservation of wild birds (OJ L 20, 26.1.2010, p. 7).↩
10 Council Directive 92/43/EEC of 21 May 1992 on the conservation of natural habitats and of wild fauna and flora (OJ L 206, 22.7.1992, p. 7).↩
11 Directive 2011/92/EU of the European Parliament and of the Council of 13 December 2011 on the assessment of the effects of certain public and private projects on the environment (OJ L 026, 28.1.2012, p. 1).↩
12 Commission Delegated Regulation (EU) 2021/2139 of 4 June 2021 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to climate change mitigation or climate change adaptation and for determining whether that economic activity causes no significant harm to any of the other environmental objectives (OJ L 442, 9.12.2021, p. 1).↩
13 Directive (EU) 2019/1937 of the European Parliament and of the Council of 23 October 2019 on the protection of persons who report breaches of Union law (OJ L305, 26.11.2019, p. 17).↩
14 Directive 2010/75/EU of the European Parliament and of the Council of 24 November 2010 on industrial emissions (integrated pollution prevention and control) (OJ L 334, 17.12.2010, p. 17).↩
15 Directive (EU) 2016/2284 of the European Parliament and of the Council of 14 December 2016 on the reduction of national emissions of certain atmospheric pollutants,amending Directive 2003/35/EC and repealing Directive 2001/81/EC (Text with EEA relevance ), OJ L 344, 17.12.2016, p. 1–31↩
For the purposes of the formulas, the following definitions shall apply:
(1) ‘current value of investment’ means the value in EUR of the investment by the financial market participant in the investee company;
(2) ‘enterprise value’ means the sum, at fiscal year-end, of the market capitalisation of ordinary shares, the market capitalisation of preferred shares, and the book value of total debt and non-controlling interests, without the deduction of cash or cash equivalents;
(3) ‘current value of all investments’ means the value in EUR of all investments by the financial market participant;
(4) ‘nearly zero-energy building (NZEB)’, ‘primary energy demand (PED)’ and ‘energy performance certificate (EPC)’ shall have the meanings given to them in paragraphs 2, 5 and 12 of Article 2 of Directive 2010/31/EU of the European Parliament and of the Council 16
For the purposes of the Regulation:
‘financial market participant’ means:
(a) an insurance undertaking which makes available an insurance‐based investment product (IBIP);
(b) an investment firm which provides portfolio management;
(c) an institution for occupational retirement provision (IORP);
(d) a manufacturer of a pension product;
(e) an alternative investment fund manager (AIFM);
(f) a pan‐European personal pension product (PEPP) provider;
(g) a manager of a qualifying venture capital fund registered in accordance with Article 14 of Regulation (EU) No 345/2013;
(h) a manager of a qualifying social entrepreneurship fund registered in accordance with Article 15 of Regulation (EU) No 346/2013;
(i) a management company of an undertaking for collective investment in transferable securities (UCITS management company); or
(j) a credit institution which provides portfolio management;
16 Directive 2010/31/EU of the European Parliament and of the Council of 19 May 2010 on the energy performance of buildings (recast) (OJ L 153, 18.6.2010, p. 13).↩
The proposed categories below aim to group assets with similar utilities consumption profiles, as well as other common characteristics.
The GRESB property type structure follows a three-level hierarchy where a Property Sector is composed of multiple Property Types, further refined into multiple Property Sub-Types. The Property Sub-Type (level 3) is used for benchmarking purposes. Should there be an insufficient number of entities with a given Property Sub-Type, the benchmark includes all entities with the corresponding Property Type. Similarly, the benchmark applies at Property Sector level in case of insufficient number of entities with a given Property Type.
| Property Sector | Property Type | Property Sub-Type | Description | Common Area Ratio* |
| Retail | Retail, High Street | Retail, High Street | Retail properties located on the high street in a particular area, usually terraced properties located in the city center or other high-traffic pedestrian zones. Regional examples: North America: Street Retail | [1%-5%] |
| Retail Centers | Retail, Shopping Center | Enclosed centers for retail purposes consisting of multiple retail stores connected with internal walkways. Most stores will not have an external exit. Regional examples : Europe: Shopping Center North America: Shopping Mall, Enclosed Mall, Department Store Australia: City Centre | [20%-30%] | |
| Retail, Strip Mall | Strip mall refers to properties comprising more than one retail store, restaurant, or other business, in an open-air configuration where each establishment has an exterior entrance to the public and there are no internal walkways. Regional examples : Europe: Convenience Shopping Centres, Urban District Centres North America: Strip Malls Australia: Sub Regional, Regional, Major Regional, or Super Regional Centers | [1%-5%] | ||
| Retail, Lifestyle Center | Retail centers that consist of both enclosed and unenclosed spaces, often including retail stores as well as leisure amenities. Regional examples:Europe: Shopping Villages Asia: Entertainment Retail Facilities | [1%-5%] | ||
| Retail, Warehouse | A big box, single-tenant retail property. Regional examples: Europe: Retail Warehouse, Retail Parks North America: Bix Box Retail Australia: Bulky Goods Centre | [1%-5%] | ||
| Retail, Restaurants/Bars | Retail, Restaurants/Bars | Restaurants/Bars refers to buildings used primarily for social/entertainment purposes and are characterized by most of the revenue being generated from the sale of beverages or food. | [1%-5%] | |
| Retail, Other | Retail, Other | Other Retail properties that do not fit in the aforementioned property types. | [1%-15%] | |
| Office | Office, Corporate | Low-Rise Office | Low-rise office properties with 1 to 4 stories. | [20%-30%] |
| Mid-Rise Office | Mid-rise office properties with 5 to 9 stories. | [20%-30%] | ||
| High-Rise Office | Office properties with 10 or more stories. | [20%-30%] | ||
| Office, Medical Office | Office, 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 center. | [20%-30%] | |
| Office, Business Park | Office, Business Park | A group of office properties being classified as a single financial asset and for which individual property consumption data is not available. | [20%-30%] | |
| Office, Other | Office, Other | Other Office properties that do not fit in the aforementioned property types. | [20%-30%] | |
| Industrial | Distribution Warehouse | Industrial, Refrigerated Warehouse | Industrial buildings used for the purpose of storing, processing, and distribution of refrigerated goods to wholesalers, retailers, and/or consumers. | [1%-5%] |
| Industrial, Non-refrigerated Warehouse | Industrial buildings used for the purpose of storing, processing, and distribution of non-refrigerated goods to wholesalers, retailers, and/or consumers. | [1%-5%] | ||
| Industrial Park | Industrial Park | An industrial business park is an area zoned for the purpose of industrial development, where (lightweight) industrial properties are grouped together with offices. Examples may include, but are not limited to: industrial estate, trading estate and enterprise zone. | [1%-5%] | |
| Manufacturing | Manufacturing | Industrial properties used for the purpose of manufacturing, otherwise known as a factory or manufacturing plant. | [1%-5%] | |
| Industrial, Other | Industrial, Other | Other Industrial properties that do not fit in the aforementioned property types. | [1%-5%] | |
| Residential | Residential Multi-Family | Low-Rise Multi-Family | Refers to multi-family residential buildings of 1 to 3 occupiable stories above grade. | [20%-30%] |
| Mid-Rise Multi-Family | Refers to multi-family residential buildings of 4 to 8 occupiable stories above grade. | [20%-30%] | ||
| High-Rise Multi-Family | Refers to multi-family residential buildings of more than 8 occupiable stories above grade. | [20%-30%] | ||
| Family Homes | Family Homes | Includes both single-family homes and multi-dwelling units not including apartment blocks. Single-family homes are separate, free-standing residential properties. 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, semi-detached, villa. | [1%-10%] | |
| Student Housing | Student Housing | Residential properties used for the purpose of housing students, otherwise known as student apartments, student houses, student residence, student quarters, and student accommodation. | [25%-35%] | |
| Retirement Living | Retirement Living | Retirement living, otherwise known as retirement villages, are communities comprised of people at a similar stage in life who are seeking a specific lifestyle. Retirement villages are made up of private homes and usually offer a range of shared facilities. | [25%-35%] | |
| Residential, Other | Residential, Other | Other Residential properties that do not fit in the aforementioned property types. | [1%-35%] | |
| Hotel | Hotel | Hotel | Includes hotels, motels, and youth hostels. | [15%-25%] |
| Lodging, Leisure & Recreation | Lodging, Leisure & Recreation | Indoor Arena | Enclosed structures used primarily for professional or collegiate sports and entertainment events. Examples include closed stadiums and indoor sports courts. | [15%-25%] |
| Fitness Center | Properties used for recreational or professional athletic training and related activities. | [15%-25%] | ||
| Performing Arts | Properties used for public or private artistic or musical performances. | [15%-25%] | ||
| Swimming Center | Recreational center with a heated swimming pool located either inside or outside. | [15%-25%] | ||
| Museum/Gallery | Properties that display collections to outside visitors for public viewing and enjoyment and for informational/educational purposes. | [15%-25%] | ||
| Lodging, Leisure & Recreation, Other | Other lodging, leisure & recreation properties that do not fit in the aforementioned property types. | [15%-25%] | ||
| Education | Education | School | Properties or campuses used as a school for Kindergarten through 12th grade students. | [1%-5%] |
| University | College/University refers to properties used for the purpose of higher education. | [1%-5%] | ||
| Library | Properties used to store and manage collections of literary and artistic materials such as books, periodicals, newspapers, films, etc. that can be used for reference or lending. | [1%-5%] | ||
| Education, Other | Other education properties that do not fit in the aforementioned property types. | [1%-5%] | ||
| Technology/Science | Technology/Science | Data Center | Properties specifically designed and equipped to meet the needs of high-density computing equipment, such as server racks, used for data storage and processing. Typically, these facilities require dedicated uninterruptible power supplies and cooling systems. Data center functions may include traditional enterprise services, on-demand enterprise services, high performance computing, internet facilities, and/or hosting facilities. | [1%-10%] |
| Laboratory/Life sciences | Laboratory refers to properties that provide controlled conditions in which scientific research, measurement, and experiments are performed or practical science is taught | [20%-30%] | ||
| Technology/Science, Other | Other technology/science properties that do not fit in the aforementioned property types | [1%-30%] | ||
| Healthcare | Healthcare Center | Healthcare Center | Properties used for the purpose of primary healthcare. Examples may include, but are not limited to: hospitals, clinics, physical therapy centers, mental health centers, rehabilitation or restorative care centers. | [15%-35%] |
| Senior Homes | Senior Homes | Healthcare properties used for the purpose of housing seniors, otherwise known as senior assisted living homes, old-age homes, or aged care. | [15%-35%] | |
| Healthcare, Other | Healthcare, Other | Other healthcare properties that do not fit in the aforementioned property types. | [15%-35%] | |
| Mixed Use | Mixed Use | Mixed Use, Office/Retail | Mixed use properties containing Office and Retail spaces. | [5%-30%] |
| Mixed Use, Office/Residential | Mixed use properties containing Office and Residential spaces. | [5%-30%] | ||
| Mixed Use, Office/Industrial | Mixed use properties containing Office and Industrial spaces. | [5%-30%] | ||
| Mixed Use, Other | Other mixed use properties that do not fit in the aforementioned property types. | [5%-30%] | ||
| Other | Other | 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. | [5%-35%] |
| Self-Storage | Indoor property or warehouse used for the purpose of self-storage for individuals and/or organizations, otherwise known as self-service storage. | [5%-15%] | ||
| Other | Other properties that do not fit in the aforementioned property types. | [5%-35%] |
*The Common Area / Total Floor Area ratio is calculated by GRESB based on previous year’s data reported at asset level and is provided as an indication for cases where participants only know their Lettable Floor Area. Participants who do not track the gross floor area of their assets can use these estimated intervals to calculate the size of their common areas.