Dear Clients Colleagues and Friends,
Earlier this month I attended the launch of GRESB's 2014 Survey Results in New York City, while nearly simultaneous launches were taking place in Singapore and London.
GRESB, the Global Real Estate Sustainability Benchmark was founded just five years ago. It is a leading source of portfolio-level sustainability data for the real estate industry and currently serves over 40 institutional investors, representing $5.5 trillion in assets under management.
Synopsis of the 2014 Survey Results
Respondents
637 survey respondents submitted data covering 56,000 buildings throughout the world with an aggregate market value of $2.1 trillion. 156 were first time responders, who had an average score 11 points lower than the average for all participants combined. Overall Results
The overall 2014 GRESB score of 47 out of a possible 100 points for all respondents combined increased 9% over the 2013 score. There was an increase of 23% in the areas of implementation and measurement that was offset by an 11% decrease in the areas of management and policy. Public companies on average achieved better results than private companies.
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GRESB scores continue to grow but performance metrics lag
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Regional Results
Australia and New Zealand's 44 respondents were the highest achievers, followed by 111 European respondents, 92 Asian respondents, and last but quickly catching up, 51 North American respondents. Respondents were described as being from the region where at least 60% of their portfolio is located.
Scoring 70% of each respondent's score is based on its implementation and measurement performance and 30% is based on management and policy. Disclosure and Risk Assessment 84% of respondents now disclose their sustainability performance and 81% perform sustainability risk assessments as part of their standard acquisition due diligence process. Monitoring 95% of respondents measure energy consumption, 84% measure water consumption, 75% measure GHG emissions and 63% measure waste. Performance There was an overall reduction in energy consumption of 0.82% compared to the 2012-2013 reporting period, a 2.3% reduction in water consumption and a 0.31% reduction in GHG emissions. Comparative figures for overall reductions in waste were not available.
We've Still Got Work to Do
We are encouraged by the number of GRESB survey respondents and number of institutional investor members since GRESB was founded a mere five years ago. However the sustainability achievements of the 2014 survey respondents are less impressive. Compared to their achievements as measured by the 2013 survey, we are starkly reminded that a lot of work remains to be done to transform the global built environment to a meaningfully lower carbon footprint.
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Green Edge can help your organization manage down its carbon footprint and make sure you are in a position to meet investor demand for credible sustainability performance. Call us now, you can't afford not to.
Sincerely,  Ellen Sinreich, LEED AP
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Ellen Sinreich, LEED AP, is the Founder and President of Green Edge, LLC and is known for her unique blend of sustainability, legal, real estate and entrepreneurial expertise.
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Sinreich To Be Honored
Ellen Sinreich will be honored as a Pioneering Woman In Real Estate on October 23, 2014, during the 12th Annual Tribute to Pioneering Women in Real Estate Awards Dinner at Club 101 in NYC. For more information, click here.
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