Chris Pyke, Chief Innovation Officer, GRESB

GRESB was created as a collaboration between the Maastricht University Department of Finance and three large institutional investors, APG, PGGM, and USS. This partnership combined a strong history of econometric research with investor demand for a sustainability benchmark for real estate companies and funds. More information about GRESB history is available here: https://www.gresb.com/wp-content/uploads/resources-10-years-of-gresb.pdf 

How is the methodology and scoring run?

Today, GRESB standard for real estate and infrastructure are governed by the GRESB Foundation. This is an independent, Dutch non-profit organization. The GRESB Foundation guides annual improvements to the standards, including changes to indicators, metrics, and weights. The Foundation operates through a volunteer Board and two technical Steering Committees. Last year more than 100 professionals volunteered their time to Foundation activities. More information about the GRESB Foundation is available here: https://www.gresb.com/nl-en/gresb-foundation/ 

What are GRESB’s priorities over the next 3 -5 years?

The GRESB Foundation Roadmap provides a strategic vision for the development of the GRESB real estate and infrastructure standards. Priorities for standard development include increased sector specificity (starting with residential), more rigorous criteria for building certifications, and a cross-cutting priority on measured, real world performance. GRESB will pursue these priorities with a focus on streamlining the assessment process, increasing regulatory alignment, and improving data quality. More information about GRESB development plans is available here: https://gresb-prd-public.s3.amazonaws.com/2023/Foundation/GRESB_Foundation_2024_Roadmap.pdf 

How did the industry first respond to GRESB’s inception and how does that compare to today? What do you see for industry engagement three years from now?

GRESB has evolved into the global standard for sustainable real estate and infrastructure companies. It provides an important role linking institutional investors with managers. This propels a virtuous cycle of engagement that improves management and performance over time. The GRESB public results dashboards illustrate long-term terms: https://www.gresb.com/nl-en/gresb-public-results/

Where do you see the most opportunity for real estate investments, as it relates to ESG?What value do you get from being a part of the IMN conference?

IMN ESG & Decarbonizing Real Estate has emerged a regular meeting place for GRESB stakeholders. It reliably brings together investors, managers, and partners. It complements our annual results events with opportunities to network and exchange updates on products, services, and shares challenges. We value the relationships we have created and maintained through IMN events. We are looking forward to more this summer in Dana Point.