Verdani Clients Take the Lead: 2021 GRESB Assessment
Verdani Partners is excited to share the outstanding performance of our clients on the 2021 GRESB Real Estate Assessment, the leading ESG benchmark for real estate investments around the world!
Many companies with ESG programs are outperforming the market. As a result, investors continue to drive ESG disclosures in the Real Estate Sector to protect and enhance shareholder value. ESG is a proxy for management quality, and it is becoming table stakes for investment decisions.
“As ESG evolves, participating in respected international benchmarks like the GRESB assessment gives valuable feedback for our ESG strategy and action plans, while offering a powerful platform to validate and provide credibility for ESG performance. The real estate industry needs to be a key player in the global efforts to cut global carbon emissions. To limit temperature-rise to 1.5 degrees, the next 10 years will be critical. Companies need to take bold actions to decarbonize the building sector. I commend GRESB’s efforts to shift its scoring to focus 70% on performance and to help create ESG metrics to drive Real Estate portfolios to become more efficient, healthy, resilient and sustainable. We are very proud of our client’s GRESB performance and their efforts to advance ESG in their portfolios and to be part of the solution for our most pressing global challenges.”
Highlights
In 2021, we submitted 32 GRESB assessments on behalf of 11 clients’ national and international real estate portfolios with over 900 million square feet and $370 billion in assets under management. Highlights include:
3 clients (4 submissions) placed 1st in the Benchmark, Management and Performance: CommonWealth Partners, Global Diversified Investment Firm, and GID Investment Vehicle
3 clients placed 2nd in their peer group in the Management & Performance Ranking: ARA, The Howard Hughes Corporation, and Jamestown LP
3 Americas Regional Sector Leaders: CommonWealth Partners (office) and GID Investment Vehicle (residential / multi-family), Jamestown LP (office / retail)
9 submissions ranked in the top 3 of their peer groups
16 submissions ranked in the top 5 of their peer groups
GRESB Star Ratings - Standing Investments & Development
(10) 5 Star Ratings: ARA, CommonWealth Partners, Jamestown LP, Parkway, Global Diversified Investment Firm, and GID Investment Vehicle
(5) 4 Star Ratings: Clarion Partners, The Howard Hughes Corporation, and Global Diversified Investment Firm
Client Spotlights for the Standing Investments Benchmark
CommonWealth Partners
1st in U.S. Office Corporate High-Rise two years in a row (2020 and 2021)
Office Overall Regional Sector Leader
5 Star Rating (6 years in a row)
GID
1st in U.S. Residential Multi-Family Core two years in a row (2020 and 2021) for GID Investment Vehicle
Residential Overall Regional Sector Leader
Residential Regional Sector Leader
5 Star Rating (3 years in a row)
The Howard Hughes Corporation
4 Star Rating
23% improvement since 2018
LMC
40% improvement in their overall score in U.S. Residential Multi-Family Non-Listed from 2020 to 2021
Global Diversified Investment Firm
1st place in the U.S. Diversified Value-added peer groups
(4) 5 Star submissions across U.S. and Asia diversified, residential multi-family, high-rise office and retail peer group
(3) 4 Star submissions across U.S. and Western Europe diversifies and corporate office peer groups
50% of submissions increased by one or more star ratings from 2020
13/14 submissions increased Management & Performance scores from 2020
6/8 submissions increased Management & Development Scores from 2020
20% single year improvement in overall Management & Performance score, U.S. Senior Homes peer group
24% single year improvement in overall Management & Performance score, Western Europe Diversified peer group
Jamestown LP
Office/Retail Overall Regional Sector Leader
Office/Retail Regional Sector Leader
5 Star Rating
ARA
2nd in U.S. Diversifies Core, up from 19th place in 2020
5 Star Rating
14% improvement in their score from 2020 to 2021
Clarion Partners
4th and 16% improvement in U.S. Industrial Distribution Warehouse Core Tenant
4 Star Rating on U.S. Diversifies Core
5% improvement in their score
Congratulations for Excellent Performance
We are proud of the exceptional performance of our national and international clients, who include American Realty Advisors, Clarion Partners, CommonWealth Partners, GID, The Howard Hughes Corporation, Jamestown LP, LMC, Mid-America Apartment Communities, Parkway and Global Diversified Investment Firm.
Their high scores on this year’s assessment reveal that our clients are both competitive with their peers and that each year they are measurably improving the sustainability performance of their real estate portfolios. With rigorous data validation processes, objective scoring and peer benchmarking, GRESB is a solid benchmark for us to track progress for our clients, in addition to providing valuable information for investors and participants to guide their investment, engagement and decision-making processes.
“We are honored to work with these leading real estate portfolios and be able to share our tools, resources and expertise to help them implement ESG programs faster and cost effectively”
About GRESB
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social and Governance (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 140+ institutional and more than 2,200 fund managers, companies and asset operators to improve decision-making.
The Assessment is shaped by what investors and the industry consider to be material issues in the sustainability performance of real estate investments. The methodology is consistent across regions, investment vehicles and property types, while aligning with international reporting frameworks.
In 2021, more than 1,500 property companies, REITs, funds and developers participated in the Real Estate Assessment, representing $6.4 trillion in assets under management. The Assessment covers nearly 117,000 assets across 66 countries.
Learn more at www.GRESB.com
Contact
Paulynn Cue, Chief Communications Officer / Communications and Business Development
213-281-5990