GRESB Foundation Standards Committees
The GRESB Foundation is pleased to inform that it is now seeking new candidates to serve on its Standards Committees for both the real estate and infrastructure industries.
The Foundation Board is responsible for the selection of the Committee members. In response to high interest from the GRESB community, the Foundation Board has decided to accept and review nominations on an on-going basis for each Committee, and appoint Standards Committee members as and when vacancies become available.
At present, there are several vacancies in both Real Estate and Infrastructure Standards Committees, and the Foundation Board is aiming to start selecting and nominating candidates by early May 2023, so please send your application as soon as possible if you wish to be considered for this next round of nominations.
GRESB is a mission-driven and industry-led organization that provides actionable and transparent environmental, social and governance (ESG) data to financial markets, and the GRESB Foundation is the owner of the standards upon which GRESB assessments are based.
About the Standards Committees
Under the direction of the Foundation Board, the Real Estate Standards Committee and the Infrastructure Standards Committee oversee the development and maintenance of their respective GRESB Standards. The committees have been active since 2022.
The Standards Committees responsibilities include, but are not limited to:
- Establishing and maintaining a program for the development of the GRESB Standards.
- Providing input to the vision and strategy for the GRESB Standards.
- Reviewing stakeholder feedback related to the GRESB Standards, market research and gap analysis, and scopes for Improvements to the GRESB Standards, provided by GRESB BV staff.
- Driving Working Groups research and assessing their recommendations.
- Prioritising and recommending improvements to the GRESB Standards to the Foundation Board.
Each committee is composed of approximately 15 individuals from GRESB Members (i.e. Investor Members, Participant Members, Partners and Industry Partners) who will serve two-year terms with the possibility of an extension. For more details on the role, please see the Standards Committee terms of reference.
Sitting on the Standards Committees is a privilege, as well as an important responsibility. Appointees have a key role in shaping the GRESB Standards so candidates that submit their applications are expected to play an active role in the critical work that underpins the evolution of the GRESB standards which will impact the sustainability of infrastructure and real estate funds and assets on a global scale. This includes attending the Standards Committees meetings (approx. 8 online meetings annually), reviewing documentation off-line and participating in surveys. Appointees not only bring their experience and expertise. They are also expected to represent the voice of their sector and region in their recommendations to drive the scope and pace of the evolution of the GRESB Standards.
GRESB consists of two linked organisations:
- The GRESB Foundation is a not-for-profit, independent, mission-driven and investor-led organisation that sets global standards for assessing the environmental, social and governance performance of real estate, infrastructure and other assets.
- GRESB BV is a profit for purpose benefit corporation, responsible for providing assessment, validation, scoring and benchmarking as well as promoting widespread adoption of the GRESB Standards and supporting its members and partners.
The Foundation will be the primary platform for engagement for GRESB with the industry.
The purpose of the GRESB Foundation is:
- to maintain an effectively functioning and reputable GRESB Standards setting body; and
- to develop, hold, assess, review, maintain and publish GRESB Standards.
- Set, maintain, improve, and publish the GRESB Standards annually within the timeframe reasonably requested by GRESB BV;
- Facilitate the engagement on the GRESB Standards and Improvements with GRESB BV in a timely and effective manner;
- ensure the feasibility of the practical implementation of the GRESB Standards;
- Ensure that the GRESB Standards are developed as consensus standards with inclusive representation and with active engagement and contribution of industry members;
- Ensure that the GRESB Standards are evolved continuously to advance the Foundation Mission and to support market needs; and
- In the development of GRESB Standards the Foundation shall consider:
- Market research and gap analysis with other reporting frameworks, provided for by GRESB BV
- Improvements developed by GRESB BV
- Feedback from industry stakeholders
GRESB BV Services
GRESB BV shall provide the following services to the Foundation:
- implement the GRESB Standards (and any changes) into the GRESB portal;
- perform assessment processes (validation, scoring and benchmarking);
- facilitate the engagement on the GRESB Standards and provide support to the Foundation and its Board and committees;
- carry out research, technical analysis, stakeholder consultation, and additional projects to inform the Standards-setting process;
- carry out marketing and promotional activities for the GRESB Standards; and
- liaise with members, potential members, partners and potential partners on behalf of the Foundation.
GRESB BV shall be responsible for all Foundation costs (including liability insurance) within an agreed annual budget.
Recognising that the GRESB Foundation is the main channel for engagement with the industry, GRESB BV shall engage with the Foundation on matters outside of the scope of the GRESB Standards in an appropriate manner. These matters may be raised by GRESB BV or by the Foundation, but it is important to recognise that GRESB BV has final decision-making authority on these matters. When engaging on these matters, GRESB BV will make clear the level of engagement (inform, consult, involve, collaborate, empower) and the specific “ask”.
- The Foundation Board formally represents the Foundation and is its formal decision-making body.
- There will be one Real Estate Standards Committee and one Infrastructure Standards Committee to oversee the development and maintenance of the Standards, reporting directly to the Foundation Board.
- There will be one Real Estate Expert Resource Group and one Infrastructure Expert Resource Group to provide expert industry resources to the Foundation. These industry experts will be available to join Working Groups (and provide individual advice) as needed. They are not a committee and they do not hold meetings.
- Working Groups (any number as needed) will be established as and when needed to review and recommend Improvements to the GRESB Standards in relation to a specific scope. Working Groups will report directly to the relevant Standards Committee(s).