GRESB isn’t the Strategy, It’s the Scoreboard

Every year, GRESB season rolls around and the hustle begins. Policies are reviewed, data is hunted down, and everyone holds their breath waiting for the big score reveal come autumn.

But if you’re only focused on the rating, you’re missing the bigger play. GRESB isn’t the strategy. It’s the scoreboard.

The funds that consistently do well treat GRESB as a tool, not the plan. They use it to measure progress, sure – but their north star is something else entirely: long-term sustainability performance that mitigates risk, protects value, and stands up to investor scrutiny.

What’s the Risk in Chasing the Score?
Preparing for GRESB by only focusing on today’s metrics is like studying for an exam by memorising answers to questions from last year’s test. You might pass, but you’ll be unprepared when the format changes. And like any test, GRESB changes over time. The scoring logic updates, new expectations get layered in, and what worked last year might not cut it this time around.

Portfolios that were once riding high might fall when the benchmark tightens. One year’s 5-star becomes next year’s 3-star because they were playing to last year’s rules, not building a future-proofed strategy.

GRESB is an output of your ESG efforts – not the blueprint. And that’s reflected in how GRESB has evolved over the past years:

“One of the most notable changes in GRESB’s approach is the addition of forward-looking, strategic criteria alongside to a historical, performance-based focus. Performance data such as energy consumption or the completeness of data sets still play a crucial role in the GRESB assessment, however, the benchmark increasingly emphasises proactive strategies, with a particular focus on setting clear targets and adopting measures to address the long-term challenges of climate change.

This includes integrating climate risk mitigation, resilience strategies, and specific sustainability goals, such as achieving net-zero emissions, into the overall reporting framework. This shift reflects a broader industry trend towards not only measuring past performance but also evaluating how organisations are planning and acting to mitigate future risks and create long-term sustainable value”, says Verena Luecking, Managing Consultant at EVORA.

Strategy First, Score Second
This might sound counterintuitive if you’re under pressure from investors. But here’s the reality: investors value long-term performance. They want to know how you’re managing climate risk. Whether you’ve got a plan for decarbonisation. If your data backs up your claims.

GRESB is just the shorthand they use to gauge that progress. A good score gets their attention – but a credible plan keeps it.

And the funds that truly understand this know how to explain their results, even when the score isn’t top of the leader board.

“Excelling in GRESB reporting itself is less important than understanding what GRESB is and how it can fit into wider strategies. We help our clients understand and position this. It is perhaps important to understand GRESB first, then use it as part of a strategy, GRESB alone should not be the strategy, it is an output of a strategy.“, says Paul Sutcliffe, Executive Director at EVORA.

You also have to remember GRESB is a one-size fits all funds – the position depends on fund strategy and age and type of fund. A brown-to-green strategy might not earn five stars in year one. That doesn’t mean the fund is behind. It might be making exactly the right moves – just not the ones that get full GRESB credit (yet).

The Winning Formula: Clarity + Commitment
Top performers tend to share a few things in common:

A clear sustainability strategy aligned with fund goals

Strong ESG governance, starting at the top

Solid, verified data

Teams that know how to connect the dots between the numbers and the narrative

They also don’t limit their efforts to the reporting timeline. GRESB is year-round. The best results come from ongoing data checks, strategy reviews, and consistent improvements – not a last-minute push.

“Clients who perform well in GRESB often have clear, measurable ESG goals, along with a long-term strategy to achieve them. They set specific targets ad example for carbon reduction, water consumption reduction and waste minimisation, and monitor their progress closely. These clients also have dedicated ESG teams or committees that work across departments to ensure that ESG permeates throughout the whole organisation, and leaders who prioritise sustainability and embed it into the corporate culture.”, says Marco Pontrelli, Sustainability Consultant at EVORA.

How EVORA Helps You Succeed with GRESB (Long-Term)
We work with clients across all stages – whether you’re just getting started or aiming for sector leadership. Our data collection experts help you source the data needed for submission, and our consultants help you craft the long-term strategy.

We’re here to help you tell a credible story about sustainability – one that helps you access capital, protects asset value, and set you up for future wins.

“I believe what sets our approach to GRESB apart from others in the industry is our comprehensive expertise in ESG, combined with a deep understanding of GRESB’s specific requirements. We go beyond simply guiding clients through the GRESB reporting process. We help them develop tailored, holistic ESG strategies that are aligned with their unique business goals. Our approach ensures that ESG is integrated into their overall business strategy, enabling long-term value creation while meeting the growing expectations of investors.”, says Verena Luecking, Managing Consultant at EVORA.

Want to see what that looks like in practice? Get in touch. Let’s talk about what GRESB can help you achieve – and how that fits into your wider sustainability strategy.