Jump to content

GRESB

Edit links
From Wikipedia, the free encyclopedia
This is an old revision of this page, as edited by Citation bot (talk | contribs) at 10:28, 22 March 2024 (Altered title. Add: doi, issue, ssrn, authors 1-1. Removed parameters. Some additions/deletions were parameter name changes. | Use this bot. Report bugs. | Suggested by LeapTorchGear | Category:AfC pending submissions by age/0 days ago | #UCB_Category 36/73). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.
  • Comment: Well, this is starting to look like a real and viable article. There is a heavy reliance on trade journals but that's fine--the first three, certainly the first two sources are acceptable to me, and the article in Journal of Real Estate Finance and Economics will probably carry the day--and, IMO, should be used more than for just one sentence at the end. I do NOT, however, want to pass this on right now because the citations are muddled. Please see how I corrected the one for the journal article, and then note how the citations seem to follow different formats, how they are unclear ("Power of Benchmarking" has no author or publication information), and how sometimes they are just wrong: one last name is rendered as "Williams2011-03-31T15:30:00+01:00", and there's another one like that. Please make those corrections. Drmies (talk) 14:39, 21 March 2024 (UTC)
  • Comment: Parts of this are just too promotional/subjective, particularly the "Industry collaborations and use of data" section, which also relies on mentions of the topic rather than analysis of it. Plus, some of the writing here is just too unclear for a broad readership, and I am not convinced that all the sources are reliable or independent. Drmies (talk) 02:45, 6 February 2024 (UTC)
  • Comment: Wikipedia articles require independent secondary sources with in depth coverage of the subjects. Only one of these sources appears to be a secondary source.
    If decent sources are added to the article, feel free to ping my talk page once you've resubmitted the article for review. Stuartyeates (talk) 04:26, 3 November 2023 (UTC)

GRESB is a Netherlands-based company that operates an annual sustainability assessment for standing real estate investments, real estate projects in development, infrastructure funds, and infrastructure assets.[1] From these assessments, it provides standardized and validated environmental, social, and governance (ESG) data and benchmarks for the real assets investment community.[2][3][4] Academic research has demonstrated that GRESB participation is a predicator of fund-level financial returns.[1][5]

History and organizational structure

GRESB was established in 2009 as a collaboration between a group of pension funds and Maastricht University to assess the sustainability of real estate fund managers, later expanding into infrastructure.[6][7] In 2014 the company was acquired by GBCI and then sold in 2020 through a management buyout in conjunction with Summit Partners.[8][9]

Today, GRESB is a certified B Corp with an associated but independent not-for-profit foundation that owns and governs the ESG standards upon which the GRESB assessments are based.[10]

Assessment structure and impact

The annual results and benchmarks from GRESB's real estate and infrastructure assessments are used by fund managers to better understand their portfolio's relative performance against peers and by investors looking for standardized disclosures into a fund or firm's ESG strategies and performance. Recent scholarship suggests that over the past few years there has been significant adoption of and reporting to GRESB within the real estate industry and that GRESB participation and performance are both significant predicators of cross-sectoral fund returns.[1] The relationship between GRESB, its foundation, and the industry representatives that sit on the foundation's board has been criticized as allowing investors too much freedom to set the standards that funds are evaluated against.[11]

References

  1. ^ a b c Devine, Avis; Sanderford, Andrew; Wang, Chongyu (2024). "Sustainability and Private Equity Real Estate Returns". Journal of Real Estate Finance and Economics. 68 (2): 161–187. doi:10.1007/s11146-022-09914-z. SSRN 4126699. Retrieved 2024-03-21.
  2. ^ Burgess, Kate (2023-07-10). "Masters of the ESG Universe". The Fifth Estate. Retrieved 2024-03-21.
  3. ^ Korteweg, Marianne (2022-03-14). "Expanding the toolbox to cute the carbon". PropertyEU. Retrieved 2024-03-21.
  4. ^ "GRESB lanceert vierde survey duurzaamheidsprestaties". woningmarktNL (in Dutch). 2013-04-02. Retrieved 2024-03-21.
  5. ^ Devine, Avis; Kok, Nils; Wang, Chongyu (2023-08-14). "Sustainability Disclosure and Financial Performance: The Case of Private and Public Real Estate". Journal of Portfolio Management. 50 (5). SSRN 4540425.
  6. ^ Williams, Jonathan (2011-03-31). "APG, PGGM, ATP join on real estate sustainability benchmark". IPE Real Assets. Retrieved 2024-03-21.
  7. ^ White, Amanda (2014-04-23). "The power of benchmarking: GRESB comes of age". Top 1000 Funds. Retrieved 2024-03-21.
  8. ^ Lowe, Richard (2020-11-16). "GRESB sold by GBCI as investors push for benchmark's independence". IPE Real Assets. Retrieved 2024-03-21.
  9. ^ Mair, Vibeka (2020-11-17). "US asset manager helps buy sustainable real estate body GRESB". Responsible Investor. Retrieved 2024-03-21.
  10. ^ Campbell, Drew (2022-12-01). "A conversation with Rick Walters, Patrick Kanters and Katherine Sherwin: i3 senior editor Drew Campbell discusses the goals and purpose of the GRESB Foundation". Institutional Investing in Infrastructure. Retrieved 2024-03-21.
  11. ^ Bockmann, Rich (2022-01-10). "Real Estate's ESG Referee: We're Not Greenwashing". The Real Deal. Retrieved 2024-03-21.
Retrieved from "https://en.wikipedia.org/w/index.php?title=GRESB&oldid=1214972693"