European real estate sector achieves 5.6% reduction in greenhouse gas emissions in 2018
In 2018, GRESB scored and benchmarked the environmental, social and governance (ESG) performance of 432 European real estate funds and companies on behalf of 75 institutional investors. The data covers 78 percent of the listed real estate market in the region by market cap.
“The high levels of reporting in Europe, together with the increase in GRESB Scores, shows a region delivering ESG transparency at scale. With more European and global investors placing real value on ESG insights, the importance of comparable insights and benchmarks is set to grow further,” said Roxana Isaiu, GRESB director real estate.
The average GRESB Score for the European real estate sector increased again in 2018, reaching 66 out of 100 (compared to 62 in 2017). Once again, listed entities scored higher than their counterparts in the private sector.
With European companies and funds reducing global gas emissions by 5.6 percent, Europe maintains its leadership position compared to other regions. Similarly, with a 2.2 percent fall in water consumption, the average water consumption reduction for European participants outperforms the other regions.
“The 2018 GRESB results are proving that expectations have fundamentally changed in the real asset sector and investors are increasingly asking for greater transparency about the ESG performance of real asset portfolios,” said Mahesh Ramanujam, chairman, GRESB board of directors, and president and CEO, Green Business Certification. “We are pleased by the continued increase in participation this year as it is clear that ESG is gaining prominence and becoming common practice. We congratulate all participants in the 2018 Assessments for the critical role they are playing in creating a world with more sustainable buildings and infrastructure.”
