— THE GRESB RESILIENCE MODULE —
Evaluates how real estate and infrastructure companies and funds are preparing for potentially disruptive events and changing conditions, assessing long-term trends, and becoming more resilient over time.
The Module is an optional supplement to the GRESB Real Estate and Infrastructure Assessments.
What is the GRESB Resilience Module?
- To meet growing investor demand for information on resilience; and
- To increase access to information about strategies used by property and infrastructure companies to assess and manage risks from social and environmental shocks and stressors, including the impact of climate change.
The Resilience Module is organized in four sections:
- Leadership and Team
- Resilience Assessment
- Management Objectives and Strategies
- Implementation and Improvement
The 10 indicators in the module will be supplemented by information from the core GRESB assessments (e.g., Real Estate RO3.1, RO3.2 and Infrastructure MA1, MA2, PD1, RO1, RO5, and ME2) to generate an overall Resilience score.
The Resilience Module defines resilience as the capacity of companies and funds to survive and thrive in the face of social and environmental shocks and stressors. This encompasses physical, economic, and social dimensions of resilience, including, but not limited to, climate change. The definition is consistent with widely-referenced authorities such the United Nations Office of Disaster Risk Reduction, the U.S. National Institute of Science and Technology, the Rockefeller 100 Resilient Cities program, national green building rating systems, and many others.This definition includes consideration for both short-term shocks and long-term stressors. Shocks are the big events that disrupts to a system – floods, fires, earthquakes, terrorist attacks. Stressors are the underlying vulnerabilities that leave companies and communities susceptible when shocks occur, such as poverty, income inequality, environmental degradation, aging infrastructure. Consequently, managing for resilience includes both preparing and responding to shocks, as well as addressing underlying stressors.
Benefits of Participating
|Ability to respond to investor attention on resilience and standout in a competitive fundraising environment.||Access to business intelligence on best practices in resilience-promoting actions among companies and funds.|
|Clearer picture of your capacity to assess, manage and adapt in the face of social and environmental shocks and stressors and how this capacity compares against your peers.||Improved ability to identify a broader range of risks and opportunities for value creation in your portfolio and assets.
|Greater knowledge of investor needs and perspectives to improve your investor engagement.||Ability to report validated performance information on resilience to your stakeholders.|
|Reduced time and effort needed to respond to ad-hoc requests relating to sustainability issues.||Recognition that you have taken a significant step towards leadership on ESG issues.|
GRESB Investor Members
The Resilience Module provides investors with information needed to understand how real estate and infrastructure companies and funds are preparing for potentially disruptive events and changing conditions, assessing long-term trends, and becoming more resilient over time. Over 70 pension funds and their fiduciaries use GRESB data and analytical tools in their investment management and engagement process.
Assessment Process and Results
The Assessment Portal opens on April 1 each year. GRESB participants start with the GRESB Real Estate Assessment or the GRESB Infrastructure Assessment and then opt-in to the Resilience Module. The Module appears as a separate section in the GRESB Portal “Navigation Bar” and participation is voluntary.
Once all Assessments have been submitted and the Assessment Portal has closed, GRESB begins the process of validating and scoring the Resilience responses.
The Assessment Results are launched in September each year and participants receive an individual GRESB Resilience Scorecard for each reporting entity. This score will not have any impact on the entity’s GRESB Score in 2019.