— THE GRESB PRE-ASSESSMENT —
A straightforward, standalone ESG evaluation comprised of a subset of indicators from the GRESB Real Estate Assessment.
The GRESB Pre-Assessment has been specifically tailored for companies and funds that are capital raising, undergoing due-dilligence, have a short hold strategy and those that have recently begun incorporating ESG into their operations.
What is the GRESB Pre-Assessment?
More investors than ever before are directing capital toward companies and funds that are proactively measuring and managing ESG risks and opportunities. This trend is fueling demand for ESG reporting across an ever-widening set of investment strategies, across all stages of the real estate investment cycle and in new markets.
The GRESB Real Estate Pre-Assessment is designed to address this demand from investors by providing a preliminary ESG assessment that focuses on GRESB Real Estate Managment and Policy Indicators and excludes property level information. Reporting to the Pre-Assessment requires a lower commitment of time and resources and can be used as a stepping stone for participation in the full GRESB Real Estate Assessment.
Mathieu Elshout, Senior Director, Private Real Estate Europe, PGGM “PGGM requires all non-listed property investments to participate in the GRESB Real Estate Assessment, which shows the importance of ESG performance for all our investments. The GRESB Pre-Assessment serves a valuable role in our due diligence process for future investments as well as for investments in markets that are at an early stage of the ESG movement.”
The Pre-Assessment is validated and scored using the globally recognized GRESB methodology, and can be completed year-round, with prompt scoring feedback, outside of the standard GRESB reporting period.
Who Should Participate in the GRESB Pre-Assessment?
The Pre-Assessment has been specifically tailored for:
- New mandates that are raising capital or constructing a property portfolio, and seek strong ESG performance immediately upon establishment;
- Existing real estate vehicles that have recently begun incorporating ESG into operations, and seek preliminary ESG assessment and improvement tools;
- Opportunistic and short hold investment strategies.
Patrick Kanters, Managing Director Global Real Estate & Infrastructure, APG Asset Management “The GRESB Assessments gives us the required ESG performance insight of our investments, and with this newly launched GRESB Pre-assessment we get the opportunity to receive the necessary information ahead of the decision-making related to new private real estate investments.”
Benefits of Participating
Participating in the GRESB Pre-Assessment will:
|Help you respond to new forms of ESG due diligence that investors are performing across an ever-widening variety of fund strategies, property companies, and markets.||Allow you to get an ESG performance evaluation at any time, on-demand.
|Allow you to use your results as a marketing tool for fundraising.||Enable you to evaluate your ESG performance against a globally recognized standard adapted for specific investment strategies.|
|Provide clarity on how well you are managing material ESG risks, and how your risk management processes compare against the market.||Provide a checklist of improvement opportunities.
|Enrich your dialogue with investors, and highlight your efforts to make proactive ESG performance improvements.||Deliver a stepping-stone for participation in the broader GRESB Real Estate Assessment.
GRESB Real Estate Investor Members
Never before have investors incorporated ESG risk analysis across such a wide variety of fund strategies, property companies, and markets. More than 66 pension funds and their fiduciaries use GRESB data and analytical tools in their investment management and engagement process, with a clear goal to optimize the risk/return profile of their investments. The Pre-Assessment provides a communication platform for companies and funds to improve investor engagement and report validated ESG performance information in a format and language that serves their needs.
How the GRESB Pre-Assessment Works
The GRESB Pre-Assessment can be performed at any time between October 23, 2017 – April 1, 2018. Participants report to GRESB on a subset of indicators from the GRESB Real Estate Assessment and preserves the number of points allocated to each indicator. As a result, the Pre-Assessment provides a meaningful indication of performance for the selected indicators in absolute terms and by comparison with the 2017 GRESB Assessment participants.
Once submitted, the data is validated, scored and benchmarked using the globally recognized GRESB methodology. Within one month of submission, you will receive a Pre-Assessment report. At this point, you will have the opportunity to request a Results Review, which is a high-level analysis of your initial score performed by the GRESB team. The Results Review triggers a final round of validation to underpin the final score.
The Pre-Assessment Results
The GRESB Real Estate Pre-Assessment results remain confidential to the reporting entity. The account manager of the reporting entity can control the distribution to investors from the GRESB portal.
Each pre-assessment entity is allocated to a peer group, based on the property type and geographical location of underlying assets.
The comparison group is determined by the entities reporting in the Real Estate Assessment, carrying the same characteristics as the pre-assessment entity. This facilitates a meaningful comparison with the companies and funds that reported on a complete set of ESG indicators.