The 2023 collaborative engagement will reach real estate companies in 13 key markets
May 9, 2023 – For the third consecutive year, a group of global investors is collaborating in the APAC region on coordinated engagements with the real asset industry to strengthen dialogue on both ESG disclosures and net-zero strategies as well as to make GRESB the ‘common language’ for conversations with investee companies on material sustainability topics.
This year’s initiative will focus on encouraging listed real estate companies and REITs to make ESG disclosures in line with the GRESB Standards via participation in the annual GRESB benchmarks.
This deepening focus on standardized ESG disclosures and comparable ESG scores is reflected in the most recent end-of-year survey of global GRESB investor members, which found that 70% of those surveyed believe GRESB will be the platform that investees will use to report on their TCFD alignment and related disclosures, in addition to their core ESG management practices and performance.
TCFD is becoming increasingly relevant in Asia as more regulatory bodies align their disclosures to the global frameworks. By engaging through GRESB – the common language for ESG disclosures across the globe – investors have a consistent lens through which to track climate-related disclosures and risk management practices over time and to drive improvements where needed.
The 2023 collaborative effort is driven by 18 institutional investors representing USD 8.1 trillion of assets under management, including:
The GRESB Standards cover the most material ESG issues for real asset investments, as defined by industry stakeholders. The Standards align with other global ESG reporting frameworks, including GRI, SASB, CDP, and the TCFD recommendations.
“Sustainability considerations are increasingly important in managing risks and creating value in real estate portfolios. GRESB participation provides stakeholders important insights on how management teams are addressing these factors and positioning real estate portfolios for the future.” – Michael Shoemacher Director, Real Estate Securities, Brookfield.
GRESB is a mission-driven and industry-led organization providing standardized and validated ESG data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 170 institutional and financial investors to inform decision-making. GRESB standards are governed by the independent, not-for-profit GRESB Foundation, while ESG assessments are managed by GRESB BV, a benefit corporation. For more information, visit GRESB.com