European real estate sector achieves a 5.6% reduction in greenhouse gas emissions in 2018 – a larger reduction than other regions

  • With the largest numbers of entities reporting to GRESB, the European real estate sector is, once again, delivering ESG transparency at scale.
  • European entities improved their sustainability performance in 2018.
  • 16 Sector Leaders recognized for their sustainability leadership.

Amsterdam, September 11 – In 2018, GRESB scored and benchmarked the environmental, social and governance (ESG) performance of 432 European real estate funds and companies on behalf of 75 institutional investors. The data covers 78% of the listed real estate market in the region by market cap.
The average GRESB Score for the European real estate sector increased again in 2018, reaching 66 out of 100 (compared to 62 in 2017). Once again, listed entities scored higher than their counterparts in the private sector.
With European companies and funds reducing global gas emissions by 5.6%, Europe maintains its leadership position compared to other regions. Similarly, with a 2.2% fall in water consumption, the average water consumption reduction for European participants outperforms the other regions.

“The high levels of reporting in Europe, together with the increase in GRESB Scores, shows a region delivering ESG transparency at scale. With more European and global investors placing real value on ESG insights, the importance of comparable insights and benchmarks is set to grow further.” says Roxana Isaiu, GRESB Director Real Estate.

“The 2018 GRESB results are proving that expectations have fundamentally changed in the real asset sector and investors are increasingly asking for greater transparency about the ESG performance of real asset portfolios,” said Mahesh Ramanujam, chairman, GRESB Board of Directors, and president & CEO, Green Business Certification Inc. (GBCI). “We are pleased by the continued increase in participation this year as it is clear that ESG is gaining prominence and becoming common practice. We congratulate all participants in the 2018 Assessments for the critical role they are playing in creating a world with more sustainable buildings and infrastructure.”

2018 GRESB Sector Leaders from Europe

This list of Sector Leaders recognizes the real estate companies and funds taking measurable steps to incorporate sustainability into their operations and communicating their performance to investors and other stakeholders. 8 real estate entities based in Europe achieved both Global and Regional Sector Leader recognition, and 8 are named European Sector Leaders.


  • Diversified, Office/Industrial, Listed – Castellum AB

Global and Regional Sector Leaders

  • Retail, Listed – Unibail-Rodamco
  • Residential, Non-listed – Build to Rent (1), Legal and General Investment Management
  • Other, Non-listed – Leisure Fund Property Partnership, Legal and General Investment Management
  • Industrial, Non-listed – UBS German Logistic Fund, UBS Global Asset Management
  • Hotels, Non-listed – Bouwinvest Dutch Institutional Hotel Fund N.V., Bouwinvest REIM
  • Healthcare, Non-listed – Achmea Dutch Health Care Property Fund, Syntrus Achmea Real Estate & Finance
  • Diversified, Office/Retail, Non-listed – Hines Master Fund Management Company S.a.r.l. on behalf of Hines Real Estate Master FCP-FIS, Hines

Regional Sector Leaders

  • Retail, Non-listed – SLI UK Shopping Centre Trust, Aberdeen Standard Investments
  • Residential,  Listed – GRIP REIT Plc
  • Office, Non-listed – Vasakronan
  • Office, Listed – GECINA
  • Diversified, Office/Residential, Non-listed – Stichting Bpf voor het Beroepsvervoer over de weg, Syntrus Achmea Real Estate & Finance
  • Diversified, Office/Industrial, Non-listed – RBS Pension Trustees Limited, Aberdeen Standard Investments
  • Diversified, Non-listed – SPP Fastigheter AB, Storebrand Fastigheter AB
  • Diversified, Listed – UK Commercial Property Trust

View More Real Estate Results
View 2018 GRESB Real Estate results snapshot PDF.
View 2018 GRESB Real Estate results page.


GRESB is the global environmental, social and governance (ESG) benchmark for real assets. Working in collaboration with the industry, GRESB defines the standard for sustainability performance in real assets, providing standardized and validated ESG data to more than 75 institutional investors, representing over USD 18 trillion in institutional capital. In 2018, a record 903 property companies, funds and developers participated in the GRESB Real Estate Assessment. The Infrastructure Assessment covered 75 funds and 280 assets, and 25 portfolios completed the Debt Assessment.
For more information, please contact:
Claudia Gonella, Marketing & Communications Director at GRESB
[email protected]
Tel. +31 (0)207740220