GRESB Health and Well-being Module

 

OVERVIEW

In Phase II, GHP collaborated with GRESB - a leading provider of ESG data (Environmental, Social, and Governance) for commercial real estate investors- to develop, launch, and evaluate health and well-being indicators for large-scale real estate portfolios. These first-of-kind health and well-being performance metrics for institutional-scale real estate investors were launched in 2016 as a stand-alone ‘module’ alongside GRESB’s primary real estate assessment tools.

GRESB OVERVIEW

GRESB is an industry leading global ESG benchmark used by more than 70 institution-level real estate investors (e.g. pension and national sovereign funds) worldwide. On an annual basis, GRESB collects ESG data from more than 850 participating real estate portfolios (e.g. TIAA-CREF, USAA, CalPERS, Vornado) which collectively manage more than $3.7 trillion USD in real estate assets. These data are used to formulate and publish weighted sustainability scores (i.e. GRESB benchmark scores) reflecting two primary dimensions: management & policy (30% weight) and implementation & measurement (70% weight) for use by more than 70 real estate investors representing more than $17 trillion USD of institutional capital. 

GHP | GRESB HEALTH & WELL-BEING MODULE

The GRESB Health & Well-being Module, developed by GHP, extends the GRESB ESG benchmark framework to include and formally evaluate health promotion as a management, policy, implementation, and measurement priority for large-scale real estate portfolio companies and portfolios. This includes both ‘internal’ efforts to promote health and well-being of employees as well as ‘external’ efforts to provide real estate products and services that minimize health risks and promote health for the tenants and surrounding communities of the real estate company’s assets.   

MARKET FEEDBACK

GHP’s health & well-being indicators were launched in collaboration with GRESB in 2016 as a voluntary module alongside GRESB’s official real estate assessment. Participation was much stronger than anticipated with  174 portfolios responding in 2016 and 252 in 2017 (45% increase). 

The GRESB health & well-being indicators have started a robust conversation among portfolio scale real estate owners and investors. Based on feedback from its stakeholders, GRESB has committed to continue its partnership with GHP to introduce health & well-being indicators into its main real estate assessment - formally recognizing population health impacts as material concerns for real estate investors.

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252 Real Estate Portfolios participated in GHP | GRESB Health & Well-being Module in 2017

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Large-Scale Impact: Portfolios participating in the 2017 Health & Well-being Module represent >32,000 real estate assets valued at >$32 Billion

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Increasing Interest:  Participation in our voluntary Health & Well-being module increased by 45% from 2016 to 2017. GRESB committed to begin bringing health indicators to its core, required assessment in 2018