RC2: Economic Size
Maximum Score
Not scored
Prefill
Eligible
Validation
Evidence is not required
2026 Updates
None
What was the economic size of the portfolio at the end of the reporting year (in millions)?
Assessment Instructions
Intent: What is the purpose of this indicator?
Establish the economic size and number of Full Time Equivalent (FTE) workers of the entity. GAV and revenue are information used (as denominators) to calculate intensity performance metrics in the Performance Component.
The number of Full Time Equivalent (FTE) workers and contractors influence materiality (see guidance in RC7 and the GRESB Materiality and Scoring Tool for more details).
Input: How do I complete this indicator?
GAV and Revenue
Provide the entity's GAV and Revenue in millions. (e.g. $75,000,000 must be reported as 75).
GAV should be provided as of the end of the reporting year, and should include development and construction projects (if any).
Revenue should be for the reporting year, as stated in EC4.
Note: Estimates are acceptable (e.g., annual operating costs may be used instead of revenue).
Do not include a currency (symbol) with the value provided, as this has been reported in indicator RC1 above, but make sure the value reported is consistent with the currency selected in RC1.
The information provided will be used to calculate intensities for certain indicators in the Performance Component.
Workers
Provide the number of Full-Time Equivalent (FTE) workers of the asset, split into employees and contractors. Entities should determine whether workers are classified as employees or contractors; as approaches may differ by locality or jurisdiction, GRESB purposefully leaves the exact distinction up to the asset. In general, though:
Employees are the workers working for and employed directly by the asset
Contractors are people working for another business (or are self-employed) and are contracted by the asset
Terminology
Contractor
Someone working for a business contracted by the asset to perform a service or other works at or for the asset.
Employee
Someone who works directly for the asset and receives compensation in the form of an hourly wage or annual salary for their work. This can be both onsite or offsite (such as in an administration office). Employers typically have to pay specific benefits such as contributions to pensions or taxes for employees. Employees may be either full time or part time and may operate on a short term contract.
FTE
Full Time Equivalent, a unit to measure the number of employed persons to make them comparable regardless of the number of working hours. FTE can be calculated by comparing the number of hours worked by an employee against the average number of hours of a full time worker. For example, if the number of hours worked by an employee in a week is 20, and the standard full time work week consists of 40 hours, the employee is counted as 0.5 FTE.
Gross Asset Value (GAV)
The gross infrastructure value owned by the entity being the enterprise value associated with the infrastructure asset. The GAV reported here does not deduct cash or cash equivalents e.g. bank accounts, short-term investments etc. Use of the 'tangible fixed assets' or 'property, plant and equipment' value may be a suitable estimate if enterprise value is not known.
Revenue
The annual income generated by the entity in exchange for providing the asset service.
Worker
Someone who is either an employee or a contractor, that is, workers include both employees and contractors, and the number of workers is the sum of employees plus contractors.
Scoring
This indicator is not scored.
Frequently Asked Questions
How are Aggregate Gross Asset Value (GAV), Aggregate Net Asset Value (NAV), and Investment Capital calculated, and how do they contribute to the GRESB Assessment?
Aggregated GAV represents the total market value of assets owned by the entity, while the aggregated NAV is calculated by subtracting aggregated debt from aggregate GAV. Instead of reporting the aggregate NAV, an entity can report on the invested capital, which is calculated as the total equity investments made in assets. Each of these figures should be reported in millions, and the values should be provided as of the end of the reporting year chosen in indicator EC4. The fund's GAV and NAV are included for reporting purposes, and they enable GRESB to calculate peer group averages for the fund's benchmark report.
How can I calculate the asset's GAV and what are its implications within the GRESB Asset assessment?
The Gross Asset Value (GAV) owned by the reporting entity is the enterprise value associated with the infrastructure asset. The GAV reported does not deduct cash or cash equivalents e.g. bank accounts, short-term investments etc. Use of the 'tangible fixed assets' or 'property, plant and equipment' value may be a suitable estimate if enterprise value is not known. The GAV should be provided as of the end of the reporting year and should include development and construction projects (if any). The asset’s GAV is used to calculate intensity metrics in the performance indicators (i.e., Energy consumption intensity = total energy consumed / GAV).
How can I report on employees if I my reporting entity has 0 employees?
Employees (from the entity of the organization) are the workers working for and employed directly by the asset. Participants may report “0” here if the entity does not have any employees, for example, in the case of a special purpose vehicle (SPV). The response to RC2 will impact the entity’s materiality of social topics which is demonstrated in the tab “Materiality Matrix” in the GRESB Materiality and Scoring Tool.
References
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