GRESB and IIGCC Collaborate on Net-Zero Alignment for Infrastructure Assets 

Supporting net-zero alignment across real assets

Amsterdam, September 8 — GRESB and the Institutional Investors Group on Climate Change (IIGCC) today announce the launch of a pioneering approach to assessing the alignment of infrastructure assets with the Net Zero Investment Framework (NZIF) 2.0—the most widely used tool by investors to develop individual net-zero strategies and transition plans.

The project builds on the successful completion of a pilot launched in May 2025, which tested the application of NZIF criteria across a diverse group of participants working with infrastructure assets and established a foundation for broader implementation of the approach as part of the 2026 GRESB Infrastructure Standards.

The NZIF Infrastructure Alignment pilot provides GRESB Infrastructure Asset Assessment participants with the necessary metrics and corresponding methodology to evaluate and communicate how infrastructure assets are progressing toward net zero against the NZIF multi-criteria maturity scale for infrastructure.

The pilot helps enable consistent comparisons across assets within a trusted, globally adopted framework.

“GRESB’s mission is to deliver a common language for sustainability, grounded in data, transparency, and collaboration,” said Joss Blamire, Director of Infrastructure Standards at GRESB. “This project reflects the power of collaboration: Drawing on NZIF 2.0 and the collective insight of leading global investors, we’re helping the infrastructure industry turn ambition into action.”

The pilot was developed in collaboration with leading global pension investor, and GRESB founding member, APG.

To ensure a practical and industry-aligned approach, GRESB and IIGCC convened a working group of 11 global infrastructure investors and asset managers—including representatives from Aberdeen, APG, Arcus Infrastructure Partners, DIF Capital Partners, DWS, IFM Investors, J.P. Morgan, Macquarie, Morrison Global, PATRIZIA AG, and PGGM.

The pilot, launched in May 2025, enabled an initial cohort of asset managers and operators reporting to the GRESB Infrastructure Asset Assessment to voluntarily complete an additional short module. GRESB processed this data and provided participants with alignment outputs mapped against the NZIF criteria, including granular insights and progress indicators. Results are intended to support both internal investment strategies and external stakeholder communications.

“This pilot marks a key step in aligning the GRESB Infrastructure Standards with NZIF. It provides asset managers and owners with a practical, industry-developed tool to assess their individual infrastructure assets against net-zero goals, supporting investor decision-making,” said Hugh Garnett, Investor Strategies Senior Specialist – Real Assets, IIGCC.

Drawing on responses from a diverse group of infrastructure asset participants associated with a range of investors and fund managers, preliminary findings from the pilot underscore both the momentum and the challenges of net-zero implementation across the sector:

• Among respondents, 16% reported they already achieve net zero, 2% are aligning to net zero, 62% are committed to aligning to net zero, and 20% have not yet committed.
• Half of participants have set science-based emissions targets. However, 60% do not include both short- and medium-term targets.
• All participants disclosed Scope 1 and 2 emissions, but only 49% disclosed all relevant material Scope 3 emission categories.
• Most participants (84%) confirmed having governance structures in place with responsibility for targets and a decarbonization plan.
• Notably, 42% of participants reported a measurable decline in emissions—consistent with their stated net-zero strategies.

Together, these insights reflect the growing commitment of infrastructure market participants to operationalize net-zero strategies and the value of a standardized tool to support them.

The insights and feedback gathered through the pilot will inform the final approach, which is planned to be formally integrated into the 2026 GRESB Infrastructure Standards. Once integrated, NZIF alignment outputs will be generated as part of the annual GRESB Infrastructure Assessments, streamlining reporting and delivering standardized, decision-useful insights to investors.

“Delivering a net-zero future requires shared standards and sector-wide alignment,” said Cameron Talbot-Stern, Director – Responsible Investing, Infrastructure at APG Asset Management. “As a long-term infrastructure investor, we are proud to support this initiative—to help define how infrastructure assets can demonstrate credible, consistent progress toward climate goals; to inform future investor engagement plans; and to support ongoing improvements aligned with industry and investor requirements.”

As investors deepen their focus on climate resilience and decarbonization, this project offers a blueprint for driving meaningful alignment across real assets.

Learn more about the NZIF Infrastructure Alignment Pilot.

GRESB is a strategic partner for resilient and high-performing investments across real assets and climate-critical industries. We help investment professionals mitigate risk and build portfolios that are resilient, efficient, and financially attractive for long-term success. Learn more at gresb.com. 

IIGCC is an investor-led membership organisation. We bring the investment community together to navigate the risks and opportunities of the transition and support progress towards a net zero and climate resilient future. We work with our members to create guidance, tools, frameworks and resources that can help them, in their individual contexts, to manage climate-related financial risk within their individual portfolios. Our work also supports investors to make the most of opportunities presented by the transition towards a decarbonised global economy and the realities of a changing climate. We have 400+ members across 20+ countries. More information at www.iigcc.org.

As the largest pension services provider in the Netherlands APG manages approximately €590 billion (June 2025) in pension assets for 4.6 million participants. APG provides executive consultancy, asset management, pension administration, and pension communication. With approximately 4,000 employees, we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, and Singapore. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. www.apg.nl