What is the Review Period?

The Review Period is designed to strengthen the reliability of the benchmark results.

The Review Period is open between September 1-15, 2021. It is intended to be used in cases where you believe that there has been incorrect or incomplete data input, or an error in validation or scoring.  The Review Period has now completed, therefore requests can no longer be made.

Requests are made at the entity level and will be reviewed by GRESB and its third-party validation team, SRI. Submitting the Review Period form means GRESB has permission to invoice the submitter for the amount of EUR 4,000 should one of the following conditions be met:

  • Participant has input incorrect data in the initial submission and would like to amend the indicator response. Note that multiple indicators can be included within the form and are covered by the Review Period fee.
  • Participant has challenged a validation decision for an indicator and upon review by SRI the decision remains unchanged and deemed correct.

Requests related to incorrect input data can include editing indicator responses (i.e. checkbox selection), providing additional documentation or amending hyperlinks to support the indicator response, or editing performance data that was inadvertently left out in the original submission.  Note that performance data acquired after the initial submission deadline is not an acceptable use of the Review Period.

If the incorrect data input is applicable to other entities of the same fund manager, only one payment of EUR 4,000 is necessary. For example, if the participant would like to add an additional piece of supporting evidence for PO1 and this evidence is applicable to other entities, only 1 invoice will be necessary as the same validation decision can be applied. However, if one entity would like to add additional evidence for PO1 and the other entity would like to edit the indicator response to PO3, this will result in 2 invoices as validation is separate.

If the request pertains to a data input change, GRESB will review the requested change and if deemed appropriate, GRESB will reopen the Assessment. The participant can then correct their response and resubmit their Assessment. Note that newly-inputted data is subject to validation and in all cases where the Assessment is reopened, the EUR 4,000 fee will be invoiced.

The submitter will not be invoiced when:

  • The request to change a data input is rejected following review by GRESB and SRI.
  • The challenge of the validation decision is successful (i.e. the SRI decision is overturned).

In both cases above the assessment would not be reopened and therefore no invoice would be generated.

The GRESB team will evaluate the requests on a rolling basis and get back to the participant within 5 working days . The decisions are final and cannot be appealed. We will only take into consideration requests submitted within the official Review Period. Please fill out the Review Period form before September 15, 2021 and attach supporting evidence to support the review process.

 
Timeline Item
April 1 – July 1
    • Reporting period
July 1 – Sept 1
    • Validation period
August 1 – Sept 1
    • GRESB initial data checks and reporting scope documentation
    • GRESB outlier checks on Performance Indicators
    • GRESB quality and consistency checks on validation process
    • Finalize and run scoring, generate reports and in-house testing
September 1
    • Launch of preliminary 2021 Real Estate and Infrastructure Assessment results for review by Participants

 

September
1 – 15
    • Participants can file official requests for validation or scoring reviews. Requests are made at entity level and will be reviewed by GRESB and its third-party validation team, SRI.
    • GRESB reviews each case individually and communicates the resolution path to the participant within 5 working days.
    • If the request relates to inaccurate input data, GRESB will reopen the relevant Assessments and participants can correct it. Updated data will be validated by GRESB. The fee is payable in all instances, including if the corrected data is not accepted and there has not been any change in scoring. Note that newly-inputted data is subject to validation and in all cases where the Assessment is reopened, the EUR 4,000 fee will be invoiced.
    • If the request relates to an error in validation or scoring , GRESB will evaluate the request and communicate the final result to the participant.
September
1 – 22
    • Participants can correct mistakes in their input data. Updated data will be validated by GRESB. The fee is payable in all instances, including if the corrected data is not accepted and there has not been any change in scoring.
    • GRESB can correct any errors in scoring or validation.
    • All re-submissions must be finalized and submitted within 5 working days of GRESB re-opening the Assessment. Failure to meet this deadline will result in the exclusion of any intended updates.
September 23 – 30
    • GRESB solves any pending validation items and reruns scoring.
    • Final testing round and preparation of sector leaders, etc.
October 1
    • Launch of 2021 Real Estate and Infrastructure Assessment results for Participants and Investors