The GRESB (Global Real Estate Sustainability Benchmark) publishes a new version of its assessment each year, particularly for its real estate standard.
As a reminder, GRESB is an environmental labeling organization. It is particularly interested in the real estate asset sector and positions itself as THE international comparator of ESG performance of “real” assets.
The GRESB 2024 assessment changes, whether from a general or more strategic point of view, the assessment in order to make it more in line with the market and more understandable thanks to feedback from the various stakeholders.
General changes GRESB 2024
Climate resilience and opportunities (RM5)
Opportunities now integrate the issue of resilience in order to have a more global vision of the potential of the targeted activity. The objective is to be in alignment with the Task Force on Climate-Related Financial Disclosures (TCFD) which issues recommendations to investors regarding the publication of information on their governance and their actions to reduce their risks related to climate change.
Energy efficiency scoring
A scoring system for energy performance will be implemented but will not impact the overall rating. This will only provide additional information during the rating. This will be added to the overall assessment in the future.
Building certification : timing, validity, age and expiration year
Regarding building certifications, several concepts will be taken into account to better promote them. Indeed, sometimes there is a gap between the timing of the certification and that of the reporting. This is why from now on, the certification evidence is valid before the GRESB reporting year (i.e. 12/31/2023) until the official GRESB submission date (07/01/2024). While the application evidence for certifications will only be accepted until the end of the reporting year (12/31/2023).
Certifications are now multiplied by a time factor. This means that the more recent the certification, the more it will be weighted. For example, certifications (BC1.1 and BC1.2) correspond to 100% for those dating from 0 to 2 years but drop to 67% for BC1.1 Interior in the third year.
GRESB 2024 Strategic Changes
The scoring of some questions is changing in order to be more relevant.
For some, the weighting of the question or the distribution of points within the question now varies. This is notably the case for the following questions:
- RM1 Environmental Management System (EMS),
- ESG Reporting (RP1),
- LE6 Personnel ESG performance targets,
- LE5 ESG, climate-related, and/or DEI senior decision-maker.
For others that were not previously assessed with a score but are for this 2024 assessment:
- T1.2 Net Zero Targets,
- RP2.1 ESG incident monitoring.
What does iQspot bring to you during your evaluation?
With real-time monitoring of your energy, water and comfort indicator consumption on our platform, as well as the associated energy management, you have access to reliable data for your reporting and can reduce your consumption to improve your score.
You have an impact on the following issues:
- Risk Management (RM1)
- Energy (EN1) / GHG (GH1) / Water (WT1)
- Performance: Tenants & Community (TC5.2)
- Energy (RA3) Water (RA4)
To learn more about how iQspot helps you earn points on the GRESB Green Star, contact us.
