— DATA VALIDATION —
The validation process is structured into three-tiers: All Participant Check, Validation Plus and Validation Interview. The approach was developed by PwC and the validation is carried out by GBCI.
All Participant Check
- Checks on all benchmark submissions, for selected data points;
- Validation per indicator with a secondary review system for quality control;
- Focus on open text boxes and open fields;
- Supplemental checks to confirm the existence of supporting evidence for questions requiring documentary evidence;
- Supplemental checks of performance indicator data.
- Desktop review on a selection of indicators for all participants for which supporting evidence was provided in the form of a document upload or hyperlink;
- Review of tables and examples provided for a selection of indicators for all participants;
- Validation with a secondary review system for quality control.
The indicator selection is performed by GRESB and is subject to change on an annual basis. This allows GRESB to apply a consistent level of scrutiny on all participating entities.
- Random selection of participants using a system that analyzes criteria based on Assessment submission data. The system automatically picks participants based on a profile that takes into account Assessment validation decisions, outliers, and performance;
- Focus on Entity & Characteristics and supporting evidence.
- While there may be instances where GBCI needs to contact the participant in order to complete the validation, the standard process does not include a participant call.
- Participants selected for a “Validation Interview” are not able to change their responses.
We have started the process of developing a new GRESB Performance Data Standard to define guidelines for performance data reporting to the GRESB Benchmark. Read more on the GRESB Performance Data Standard.