Resilience: The ability of real estate and infrastructure to survive and thrive under social and environmental shocks and stressors
Property and infrastructure companies often find themselves on the frontlines of these changes. They are drivers of change – shaping the physical fabric of cities and communities and contributing a large fraction of global greenhouse gas emissions. They are also particularly vulnerable to change – long-term, immobile, and often illiquid investments subject to a myriad of physical and social shocks and stressors. Institutional investors increasingly recognize the materiality of these risks and opportunities. As a result, real assets are being asked to be more transparent and accountable for their contributions to global change and their role in providing solutions.
It’s against this backdrop that in 2018 GRESB introduced the Resilience Module – an optional supplement to the GRESB Real Estate and Infrastructure Assessments.
GRESB Launches Resilience Module
The Resilience Module is planned as a 3 year effort:
The current 2018 Resilience Module reflects broad alignment with recommendations from the Task Force on Climate-related Financial Disclosures as well as concepts embodied by the 100 Resilient Cities network. It provides an initial high-level screen intended to raise awareness, motivate internal discussion, and provide a basic level of transparency for investors.
The scoring model will be strengthened in Year 2 with new indicators introduced and tested. And in Year 3 selected indicators will migrate to the core GRESB Assessments. Alignment with industry standards and guidelines will continue throughout together with the development of a growing suite of analytical tools in the GRESB Portal for management and communication.
The GRESB | Siemens: Sustainable Real Assets Conferences
London | Slides and Resources
+ GRESB slides
+ Presenter Slides
+ Task Force on Climate-related Financial Disclosures
+ Resilient Cities: A Grosvenor Research Report+ Physical Climate Risk in Equity Portfolios: Joint white paper by Four Twenty Seven and Deutsche Asset Management
+Swire Properties Sustainable Development (SD) 2030 Strategy: 2017 Highlights
Washington DC | Slides and Resources
+ GRESB slides
+ Presenter slides
+ U.S. Climate Resilience Toolkit
+ Climate Science Special Report
+ Office for Coastal Management – Digital Coast
+ Attribution of Extreme Weather Events in the Context of Climate Change (2016)
+ Global Adaptation & Resilience Investment Working Group
+ Building Resilience-LA: A Primer for Facilities
+ Video: How NYC plans to survive the next superstorm
Sydney | Slides and Resources
+ GRESB slides
+ Preventing Disaster Before it Strikes: Developing a Canadian Standard for New Flood-Resilient Residential Communities
+ Slides from Nathan Robertson-Ball, Social Innovation Manager, Innovation Labs, Commonwealth Bank of Australia
+ Urban Land Institute: Returns on Resilience The Business Case
+ Resilient Cities Report 2017: 8th Global Forum on Urban Resilience and Adaptation
+ IGCC: Investor Toolkit Launched for Managing Climate Risk and Investing in Resilience
+ Infrastructure Resilience in a Shifting World: The Future of Infrastructure, AECOM
+Adapting to change: A resilient commonwealth is a prosperous commonwealth, AECOM
+ Around the World in Almost 80 Resilience Projects
Results from the 2018 Resilience Module
Coming soon: Resilience White Paper
The Resilience White Paper will provide an overview of the current state of the real asset industry when it comes to addressing resilience risks and opportunities. It will highlight the real estate and infrastructure companies, funds and assets who are demonstrating leadership and the emergence of best practices.
In addition, the white paper will look forward to the 2019 Resilience Module, synthesizing lessons learned, key patterns, and recommended next steps for participants.
(Coming soon: December 2018)