GRESB Foundation Standards Committees
The newly established GRESB Foundation is now recruiting candidates to serve on its Standards Committees for both the real estate and infrastructure industries.
GRESB is a mission-driven and industry-led organization that provides actionable and transparent environmental, social and governance (ESG) data to financial markets, and the GRESB Foundation is the owner of the standards upon which GRESB assessments are based.
About the Standards Committees
Under the direction of the Foundation Board, the Real Estate Standards Committee and the Infrastructure Standards Committee will oversee the development and maintenance of their respective GRESB Standards.
The Standards Committees responsibilities include, but are not limited to:
- Establishing and maintaining a program for the development of the GRESB Standards.
- Reviewing market research and gap analysis with other reporting frameworks, analysing of benchmarking results, and recommendations for Improvements to the GRESB Standards, provided by GRESB BV staff.
- Reviewing stakeholder feedback related to the GRESB Standards.
- Promoting research and studies regarding environmental, social and governance topics for real estate and infrastructure assets and potentially other asset classes.
Each committee will be composed of up to 15 individuals from Members, Partners and Industry Partners who will serve two-year terms with the possibility of an extension. For more details on the role, please see the Standards Committee terms of reference.
Nominations for each Standards Committee can be made below until January 20. The Foundation Board will oversee the selection of committee members, who will be appointed in Q1 2022.Apply for the Standards Committee
GRESB consists of two linked organisations:
- 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.
- 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.
The purpose of the GRESB Foundation is:
- to maintain an effectively functioning and reputable GRESB Standards setting body; and
- to develop, hold, assess, review, maintain and publish GRESB Standards.
- 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”.
- 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).