GRESB seeks nominations for Foundation Board

The newly established GRESB Foundation, currently represented by an Interim Foundation Council, is now recruiting candidates to fill the inaugural Foundation Board of up to 13 members. Applications are open until December 13.

GRESB is a mission-driven and industry-led organization that provides actionable and transparent environmental, social and governance (ESG) data to financial markets. GRESB collects, validates, scores and benchmarks ESG data to provide business intelligence, engagement tools and regulatory reporting solutions for investors, asset managers and the wider industry.

Our vision: An investment industry that plays a central role in creating a sustainable world

Our mission: To provide financial markets with actionable insights, ESG data and benchmarks

The GRESB Foundation is the owner of the standards upon which GRESB assessments are based. Once recruitment is complete, the GRESB Foundation will comprise a Foundation Board, Standards Committees and Expert Resource Groups, which will be open to GRESB Members and Partners.

Board members will play a key role in overseeing the GRESB Foundation and shaping the GRESB Standards, which impact the long-term sustainability of infrastructure and real estate funds and assets on a global scale.

The Foundation Board’s responsibilities include, but are not limited to: 

• Safeguarding the GRESB Standards so they remain industry-led.
• Developing and maintaining the vision and strategy for the GRESB Standards.
• Setting, improving, reviewing and approving the GRESB Standards.

Participation in the GRESB Foundation Board is voluntary, with each board member being appointed for a three-year term, with the possibility of one-year extensions. Those selected will be expected to meet between three and six times per year, either in person or via web conference.

Candidates are required to:

• Be employees of a GRESB Member, Partner or Industry Partner (that is not a Real Asset ESG Certification body)
• Possess demonstrated strategic expertise and industry leadership
• Have significant experience in ESG, the real asset industry and investing
• Understand and align with GRESB’s vision, mission and values

Ideal candidates will:

• Have previous governance group experience
• Have a demonstrated track record of industry leadership

The GRESB Foundation seeks a diversity of candidates, from all regions across the world, focused on both developed economies and emerging markets and from small-to-large organizations by AuM.

A maximum of  8 candidates will be selected in this process. The new board members will join the current Interim Foundation Board’s cohort –Patrick Kanters (APG Asset Management), Deborah Ng (Ontario Teachers’ Pension Plan), Mathieu Elshout (PATRIZIA), Alison Schneider (Alberta Investment Management Corporation) and Kathleen Jowett (LaSalle Global Partner Solutions)– to integrate the inaugural Foundation Board.

For more information, please see the Foundation Board terms of reference.

GRESB consists of two linked organisations:

1. The GRESB Foundation is a not-for-profit, independent, mission-driven and investor-led organisation that sets global standards for assessing the environmental, social and governance performance of real estate, infrastructure and other assets.
2. GRESB BV is a profit for purpose benefit corporation, responsible for providing assessment, validation, scoring and benchmarking as well as promoting widespread adoption of the GRESB Standards and supporting its members and partners.

The Foundation will be the primary platform for engagement for GRESB with the industry.

Foundation purpose

The purpose of the GRESB Foundation is:

1. to maintain an effectively functioning and reputable GRESB Standards setting body; and
2. to develop, hold, assess, review, maintain and publish GRESB Standards.

Foundation functions

• Set, maintain, improve, and publish the GRESB Standards annually within the timeframe reasonably requested by GRESB BV;
• Facilitate the engagement on the GRESB Standards and Improvements with GRESB BV in a timely and effective manner;
• ensure the feasibility of the practical implementation of the GRESB Standards; 
• Ensure that the GRESB Standards are developed as consensus standards with inclusive representation and with active engagement and contribution of industry members;
• Ensure that the GRESB Standards are evolved continuously to advance the Foundation Mission and to support market needs; and
• In the development of GRESB Standards the Foundation shall consider:
  • Market research and gap analysis with other reporting frameworks, provided for by GRESB BV
  • Improvements developed by GRESB BV
  • Feedback from industry stakeholders

GRESB BV Services

GRESB BV shall provide the following services to the Foundation:

• implement the GRESB Standards (and any changes) into the GRESB portal;
• perform assessment processes (validation, scoring and benchmarking);
• facilitate the engagement on the GRESB Standards and provide support to the Foundation and its Board and committees;  
• carry out research, technical analysis, stakeholder consultation, and additional projects to inform the Standards-setting process; 
• carry out marketing and promotional activities for the GRESB Standards; and
• liaise with members, potential members, partners and potential partners on behalf of the Foundation.

GRESB BV shall be responsible for all Foundation costs (including liability insurance) within an agreed annual budget.

Recognising that the GRESB Foundation is the main channel for engagement with the industry, GRESB BV shall engage with the Foundation on matters outside of the scope of the GRESB Standards in an appropriate manner. These matters may be raised by GRESB BV or by the Foundation, but it is important to recognise that GRESB BV has final decision-making authority on these matters. When engaging on these matters, GRESB BV will make clear the level of engagement (inform, consult, involve, collaborate, empower) and the specific “ask”.

Foundation structure

• The Foundation Board formally represents the Foundation and is its formal decision-making body.
• There will be one Real Estate Standards Committee and one Infrastructure Standards Committee to oversee the development and maintenance of the Standards, reporting directly to the Foundation Board.
• There will be one Real Estate Expert Resource Group and one Infrastructure Expert Resource Group to provide expert industry resources to the Foundation. These industry experts will be available to join Working Groups (and provide individual advice) as needed. They are not a committee and they do not hold meetings.
• Working Groups (any number as needed) will be established as and when needed to review and recommend Improvements to the GRESB Standards in relation to a specific scope. Working Groups will report directly to the relevant Standards Committee(s).