
GRESB GLOBAL ESG COVERAGE
GLOBAL

The industry has taken great strides in recent years to increase ESG data coverage at the portfolio level, and underscore this with improved reporting at the asset level. In 2019, 89% of entities reported their environmental performance data at the asset level. This represents more than 66,000 assets of the total 100,000 assets covered by the benchmark.

1,005 property companies, real estate investment trusts (REITs), funds, and developers participated in the 2019 GRESB Real Estate Assessment, an increase of 12% on the previous year.
The listed real estate dataset covers 240 entities, representing about 65% of the market capitalization of the major developed listed real estate indices. Together with GRESB Public Disclosure data (an additional 425 listed entities), GRESB datasets cover all major developed listed real estate indices.
The non-listed real estate dataset covers 723 private entities, representing 75 of IPE Real Assets’ Top 100 Real Estate Investment Managers (participating with at least one entity) and 47 of PERE 100: institutional capitalās top manager picks.

The 2019 global average GRESB Score increased to 72, up from 68 in 2018. Listed entities still outperform their private counterparts, but the gap has narrowed significantly.
- Average GRESB Score ā Listed entities: 73 (2018: 69)
- Average GRESB Score ā Private entities: 72 (2018: 67)
The regional breakdown of GRESB Scores shows Oceania (80.9) continuing to lead the world. The Scores for Europe (70.7), Americas (72.1) and Asia (72.7) have clustered, showing only small differences in performance.
DEFINING SDG MATErIality
There is an emerging recognition among GRESB Investor Members that the UN Sustainable Development Goals (SDGs) provide a useful reference point for both guiding the intent and measuring the impact of their investments. We have defined SDG materiality for real assets which provides the foundation for our work with our governance groups to agree upon a standardized set of metrics to track the contribution of real estate and infrastructure investment towards achieving the goals.

GRESB performed the mapping exercise with a top-down approach, first beginning with the alignment to the goal, then to the target, and lastly to the indicator. The alignment was ranked on a 0-3 scale (0- āNot alignedā; 3 – āAlignedā)
In addition to the alignment mapping, we analyzed which SDGs are the most frequently addressed in public reporting by GRESB participants. The highlighted SDGs in the image are the most material to the real estate sector.
Sustainability Aspects

The GRESB Assessment is structured into seven unique sustainability Aspects, together with a separate Aspect for New Construction & Major Renovations. The 2019 data shows notable year-on-year improvements in all Aspects with the exception of Management, which remains unchanged. A selection of insights per Aspect is shown below.
DEVELOPER ASSESSMENT
HEALTH & WELL-BEING

Ensuring healthy lives and the promotion of health & well-being has been identified as a global aspiration through SDG 3.
While health has traditionally been viewed as the responsibility of the healthcare sector, social, economic and environmental factors – referred to as the social determinants of health – have a larger impact than clinical care.
As creators of the built environment, the real estate industry is well-positioned to address key health determinants in their approach to real estate development and management.
Over the past few years, leading real estate companies have begun to view health and well-being as a new mechanism of competitive differentiation and an explicit area of potential risk reduction and value creation. Leading companies have structured their health and well-being programs to cover employees, tenants, communities and supply chains.
Health Industry Partners
Report: Health & Well-being in Real Estate
Market trends for health promotion as a new focus within ESG reporting
Drawing on findings from three years of data gathered by the GRESB Health & Well-being Module, the report provides real estate companies and investors with insights on the current state of practice and guidance on how to increase consideration of health and well-being within their approach to ESG.
The report also provides context for the decision by GRESB, in collaboration with the Green Health Partnership, to integrate health and well-being indicators from the Module into the core 2019 GRESB Real Estate Assessment.

The GRESB Health and Well-being Results were developed in collaboration with the Green Health Partnership, a research and development initiative of the University of Virginia School of Medicine and the U.S. Green Building Council supported by a grant from the Robert Wood Johnson Foundation.
Validation PROCESS and Data Standard
An open and transparent data validation process is an important part of GRESBās annual benchmarking process. GRESB operates a three-tier validation process (All Participant Check, Validation Plus, Validation Interview). Over the past years, the topics covered by the validation process and the scope of work for Validation Plus and Validation Interviews have increased significantly. The validation process is carried out by GBCI.
GRESB checks:
- The existence and content of answers to open text boxes.
- The additional information provided to Assessment Indicators, e.g.third-party organization names, assurance, audit, certification and verification standards and āotherā answers.
- The documents uploaded as supporting evidence for the answers provided.
- Automated outlier and consistency checks of performance data including energy and water consumption, GHG emissions and waste generation.
- GRESB identifies reported consumption values as outliers if the corresponding consumption intensity (consumption/area) and/or its change over time is abnormal relative to all reported data for a particular property type.
Supporting evidence is evaluated on the validity of the document relative to the requirements stated in the guidance for the indicator, including the actual reference to selected answer options. In order to be accepted, the provided evidence should meet the requirements as stipulated in this Reference Guide.
GRESB Global Partners
RESILIENCE AND TCFD HIGHLIGHTS
PUBLIC DISCLOSURE
AMERICAS
REGIONAL RESULTS HIGHLIGHTS




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ASIA
REGIONAL RESULTS HIGHLIGHTS




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EUROPE
REGIONAL RESULTS HIGHLIGHTS




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OCEANIA
REGIONAL RESULTS HIGHLIGHTS




Oceania Industry Partners









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2019 REAL ESTATE SECTOR LEADERS
GRESB Sector Leader Awards recognize the best performers annually from across the GRESB Assessments. Achieving sector leader status is recognition of best practice ESG performance. We congratulate the 2019 GRESB Real Estate Sector Leaders.
Property Type | Name |
---|---|
Residential - Private | Access Development Partnership, LGIM Real Assets |
Healthcare - Private | Achmea Dutch Health Care Property Fund, Syntrus Achmea Real Estate & Finance |
Office - Private | Australian Prime Property Fund Commercial, Lendlease |
Retail - Private | Australian Prime Property Fund Retail, Lendlease |
Residential - Listed | AvalonBay Communities, Inc. |
Storage/Parking | Big Yellow Plc |
Hotels - Private | Bouwinvest Dutch Institutional Hotel Fund N.V., Bouwinvest REIM |
Diversified - Listed | CapitaLand Limited, CapitaLand Group |
Diversified - Office/Industrial - Listed | Castellum AB |
Office - Listed | Dexus Office Trust, Dexus Property Group |
Diversified - Office/Retail - Private | Dexus Wholesale Property Fund, Dexus Property Group |
Industrial - Listed | Frasers Logistics & Industrial Trust, Frasers Logistics & Industrial Asset Management Pte. Ltd. |
Diversified - Office/Industrial - Private | Frasers Property Australia Pty Ltd - Investment Properties, Frasers Property Australia Pty Ltd |
Diversified - Private | Hines Master Fund Management Company S.a.r.l., Hines Real Estate Master FCP-FIS |
Hotels - Listed | Host Hotels & Resorts, Inc. |
Diversified - Office/Residential - Private | J.P. Morgan U.S. Value Add, J.P. Morgan Asset Management |
Diversified - Office/Residential - Listed | JBG SMITH |
Other - Private | Regent Street, The Crown Estate |
Diversified - Office/Retail - Listed | Stockland |
Other - Listed | Swire Properties Limited |
Industrial - Private | UBS German Logistics Fund, UBS Asset Management |
Retail - Listed | Unibail-Rodamco-Westfield |
Developer - Residential | Frasers Property Australia Pty Ltd - Development Assets, Frasers Property Australia Pty Ltd |
Developer - Office | Skanska Commercial Development Nordic, Skanska Commercial Development Nordic |
Developer - Diversified | Keppel Land Limited, Keppel Land Limited |
Developer - Industrial | Goodman Group (GMG), Goodman Group |
Entity is a Global Sector Leader (Achieved highest score for the combination of nature of ownership and sector)
Entity is an Overall Regional Sector Leader (Achieved highest score for the combination of region and sector)
Entity is a Regional Sector Leader (Achieved highest score for the combination of nature of ownership, region and sector)
Property Type | Name |
---|---|
Residential - Listed | AvalonBay Communities, Inc. |
Office - Private | CommonWealth Partners |
Residential - Private | GS Chelsea Co-Investment, LP, Greystar Real Estate Partners |
Industrial - Private | Institutional Logistics Partners managed by BentallGreenOak |
Retail - Private | Ivanhoe Cambridge - managed portfolio |
Diversified - Office/Residential - Private | J.P. Morgan U.S. Value Add, J.P. Morgan Asset Management |
Office - Listed | Kilroy Realty Corporation |
Diversified - Private | BentallGreenOakās Diversified US Property Fund |
Diversified - Office/Retail - Private | Oxford Properties Group (OMERS) |
Industrial - Listed | Prologis |
Retail - Listed | The Macerich Company |
Entity is a Global Sector Leader (Achieved highest score for the combination of nature of ownership and sector)
Entity is an Overall Regional Sector Leader (Achieved highest score for the combination of region and sector)
Entity is a Regional Sector Leader (Achieved highest score for the combination of nature of ownership, region and sector)
Property Type | Name |
---|---|
Diversified - Office/Retail, Listed | Activia Properties Inc., TLC REIT Management Inc. |
Diversified - Listed | CapitaLand Limited, CapitaLand Group |
Retail - Listed | CapitaLand Mall Trust, CapitaLand Mall Trust Management Limited |
Office - Listed | City Developments Limited |
Industrial - Private | Goodman Japan Core Partnership (GJCP), Goodman Group |
Office - Private | IGIS Private Real Estate Investment Trust No. 35, IGIS Asset Management |
Retail - Private | Lendlease Asian Retail Investment Fund 1, Lendlease |
Residential - Listed | Nippon Accommodations Fund, Mitsui Fudosan Accommodations Fund Management Co., Ltd. |
Industrial - Listed | Nippon Prologis REIT, Inc., Prologis |
Diversified - Private | Nomura Real Estate Private REIT, Inc., Nomura Real Estate Asset Management Co., Ltd. |
Diversified - Office/Residential - Listed | Sekisui House Reit, Inc., Sekisui House Asset Management, Ltd. |
Developer - Residential | White Peak Real Estate Investment, White Peak Group |
Entity is a Global Sector Leader (Achieved highest score for the combination of nature of ownership and sector)
Entity is an Overall Regional Sector Leader (Achieved highest score for the combination of region and sector)
Entity is a Regional Sector Leader (Achieved highest score for the combination of nature of ownership, region and sector)
Property Type | Name |
---|---|
Residential - Private | Access Development Partnership, LGIM Real Assets |
Healthcare - Private | Achmea Dutch Health Care Property Fund, Syntrus Achmea Real Estate & Finance |
Diversified - Office/Residential - Private | BlackRock Europe Property Fund IV, BlackRock |
Hotels - Private | Bouwinvest Dutch Institutional Hotel Fund N.V., Bouwinvest REIM |
Diversified - Office/Industrial | Castellum AB |
Office - Private | CBRE Dutch Office Fund, CBRE Global Investors |
Retail - Private | CBRE Retail Property Fund Iberica L.P., CBRE Global Investors |
Office - Listed | Cegereal |
Diversified - Private | Hines Master Fund Management Company S.a.r.l., Hines Real Estate Master FCP-FIS |
Diversified - Listed | Icade |
Diversified - Office/Retail - Listed | Land Securities Group PLC |
Other - Private | Regent Street, The Crown Estate |
Diversified - Office/Retail - Private | Sponda Plc |
Diversified - Office/Industrial - Private | Storebrand Eiendomsfond Norge KS, Storebrand Asset Management AS |
Residential - Listed | The UNITE Group Plc |
Industrial - Private | UBS German Logistics Fund, UBS Asset Management |
Retail - Listed | Unibail-Rodamco-Westfield |
Entity is a Global Sector Leader (Achieved highest score for the combination of nature of ownership and sector)
Entity is an Overall Regional Sector Leader (Achieved highest score for the combination of region and sector)
Entity is a Regional Sector Leader (Achieved highest score for the combination of nature of ownership, region and sector)
Property Type | Name |
---|---|
Office - Private | Australian Prime Property Fund Commercial, Lendlease |
Industrial - Private | Australian Prime Property Fund Industrial, Lendlease |
Retail - Private | Australian Prime Property Fund Retail, Lendlease |
Diversified - Office/Retail - Private | Dexus Wholesale Property Fund, Dexus Property Group |
Industrial | Frasers Logistics & Industrial Trust, Frasers Logistics & Industrial Asset Management Pte. Ltd. |
Diversified - Office/Industrial - Private | Frasers Property Australia Pty Ltd - Investment Properties, Frasers Property Australia Pty Ltd |
Entity is a Global Sector Leader (Achieved highest score for the combination of nature of ownership and sector)
Entity is an Overall Regional Sector Leader (Achieved highest score for the combination of region and sector)
Entity is a Regional Sector Leader (Achieved highest score for the combination of nature of ownership, region and sector)