|Key Performance Indicators, GRESB Universe|
Friday, September 30, 2016
By Amy Erixon, Toronto
In 2015 Avison Young became a Green Star award recipient in the Global Real Estate Sustainability Benchmark, or “GRESB” Index. Founded in 2009, the Benchmark is the gold standard for ESG reporting by institutional property investors and their advisors. The Index currently includes 22,000 individual properties located on 6 continents in 37 countries valued at USD $ 2.3 Trillion. GRESB is different from energy star and other types of environmental scorecards in that it evaluates corporate governance, social responsibility as well as environmental performance at the management, entity and property levels.
Institutional owners in Canada, Australia and other leading countries are beginning to make concerted efforts to improve environmental performance and mitigate climate risks. Same store portfolio performance within the GRESB index from 2014 to 2015 improved 1.2-2.0% for energy, CO2 emissions, water consumption and landfill waste. Year over year same store Index Performance
Indicators are detailed in the sidebar.
The benchmark is used by members to optimize the risk return profile of its investments. It assesses the management contribution (value add and risk mitigation effectiveness) on the part of 227 entities, 60 of whom are pension funds. The GRESB index assesses a large number of aspects – at the property level from building certifications to monitoring and EMS, at the management level examining ESG integration, risk mitigation, policies, disclosure and performance targets, and at the social level assessing communications, leadership, procurement and stakeholder engagement.
In addition to providing a roadmap for companies looking to improve their ESG policies and reporting, GRESB provides a peer group ranking to provide context for investment decision making. More information about the benchnark and 2016 results can be found at: