Greengage have been assisting clients in preparing their disclosure for the Global Real Estate Sustainability Benchmark (GRESB). 2016 saw a significant enhancement to the ‘New Construction & Major Renovations’ section of the assessment, further expanding the breadth and depth of sustainability measures organisations are expected to consider in the development process. We ensured that Lothbury Investment Management had complete and robust responses and evidence for submittal.
The GRESB Real Estate Assessment has retained a lot of similarities with the 2015 version, with one exception: The New Construction & Major Renovation (NC&MR) aspect. The 14 NC&MR questions look at strategic approaches to integrated design, measures to achieve strategies such as specific technologies or solutions and measures put in place to monitor the ongoing performance of developments. The key aim of the changes is to ensure that participants report the level that best reflects their practices for meeting or exceeding local or international standards. Specifically, organisations are asked whether they:
- Meet local requirements;
- Meet above code standards for some projects;
- Meet above code standards for all projects;
- Meet national or global leadership standards for some projects; or
- Meet national or global leadership standards for all projects.
In order to respond accurately to the NC&MR questions, Greengage required a strong understanding of Lothbury’s development approaches as well as how this has been implemented on a project level. We have undertaken multiple BREEAM Assessments for Lothbury across a range of projects since 2010. This in depth understanding of the strategic sustainable approach to development and current project examples enabled us to ensure that the GRESB New Construction disclosure fully reflected the extent of Lothbury’s efforts.
The output of the work was a GRESB 2016 disclosure pack including question responses and supporting evidence which meets the required standards of the GRESB Real Estate Reference Guide. 2016 Assessment results will be available to Investor Members and Participants on 7th September.
Image source: www.GRESB.com