Case Study: ERG S.p.A
How EVORA Helped ERG Turn Strong Risk Management into 5 Stars and a Near-perfect GRESB Score
"Since the beginning of our partnership with EVORA in 2024, their expertise and guidance have been invaluable in strengthening our GRESB reporting. Their support helped us better demonstrate our existing risk management practices and align our documentation with GRESB requirements. Achieving a near-perfect score of 99.7, regaining our 5-star rating and being recognised as a GRESB." Sector Leader in 2026 are milestones we are extremely proud of and reflect the value of our collaboration.”
- Gianluca Gramegna, Head of ESG
The Challenge
ERG S.p.A. is one of Europe’s leading independent renewable energy producers, reporting its wind and solar portfolio through the GRESB Infrastructure Asset Assessment.
Its goal for 2026 was to regain a 5-star GRESB Rating. Despite scoring 97.9 out of 100 in 2025 – almost unchanged from its 2024 score of 98 – ERG had dropped from 5 stars to 4. With ratings determined by relative performance, maintaining a strong score was no guarantee of retaining its position in the top 20%. By 2026, the threshold for 5 stars had risen to 98.5.
Risk Management was identified as a key area for improvement. ERG already had robust policies and an established risk management framework, but the supporting documentation did not fully meet GRESB’s evidence requirements. The challenge was to ensure these existing practices were clearly evidenced and accurately reflected in the assessment.
Our Approach
EVORA has supported ERG’s GRESB Infrastructure submissions since the first assessment in 2024. For the 2026 assessment, we worked closely with ERG’s sustainability team to address the evidence gaps identified in the previous year’s submission, focusing on Risk Management.
We guided the ERG Risk Management team in the development of a supplementary risk register that clearly set out how ERG’s existing policies and risk management framework addressed material issues.
By presenting this information in the form required by GRESB, we helped ERG demonstrate its established practices more effectively and strengthen the evidence supporting its submission.
Key Outcomes
ERG regained its 5-star GRESB Rating in 2026, achieving an overall score of 99.7 out of 100, above the 98.5 threshold.
| Year | GRESB Score out of 100 | Peer Group Average | Star Rating out of 5 |
| 2024 | 98 | 93 | ★ ★ ★ ★ ★ |
| 2025 | 97.9 | 97 | ★ ★ ★ ★ |
| 2026 | 99.7 | 98.8 | ★ ★ ★ ★ ★ |
Its Risk Management score increased from 87.6% to 98.8%, an improvement of 11.2 percentage points that contributed directly to the overall result.
ERG also achieved:
- A Management score of 39.7 out of 40.
- The maximum Performance score of 60 out of 60
- Second place in its European onshore wind peer group.
- A position within the top 10% of all 569 participants worldwide.
With EVORA’s support, ERG demonstrated its established risk management practices more effectively. The result highlights the value of clear evidence aligned with GRESB’s requirements in helping strong practices receive recognition.
