GRESB Support 2018

GRESB reporting season for real estate and infrastructure participants is here again, and as a GRESB Premier Partner, EVORA is recognised as a leader in the provision of GRESB support, including training and strategic insight.

We have provided GRESB support for the last six years, and in 2017 we directly supported over 50 submissions from organisations that represent a cross section of the European property industry. We have helped clients get on the GRESB ladder and have equally supported clients to be market leaders.

We sit on a number of GRESB benchmark committees and our close working relationship with GRESB ensures that we are prepared and aware of future changes.

With our experience and expertise in this ever-emerging market sector, we ran a webinar last week with participants across Europe on our end to end service Titled “How to overcome GRESB challenges and achieve your best score”.

In this session we shared valuable insights and tips in a 5-point GRESB strategy, to increase awareness on how to get the best out of the reporting process and how you can align GRESB ratings with your long-term sustainability strategy.


Five point GRESB strategy

Our GRESB strategy covered an action plan for a seamless GRESB submission process. A quick recap is set out below.

  1. Plan your next GRESB submission in advance. Map out a plan on who to talk to, what to ask and which evidence you need to provide.
  2. Reduce the complexity of reporting by engaging in a streamlined process with your property managers. At EVORA, our consultants provide asset-level templates to property managers, to help in the collation of asset-based questions such as technical assessments, tenant engagement and efficiency measures.
  3. Improve scoring, where appropriate. Don’t miss out on easy points, discounting your reporting efforts by not meeting validation requirements. Read more here on our GRESB verification blog on how to ensure your response is accurate and acceptable by GRESB.
  4. Focus on data integrity and performance. Our proprietary software SIERA ensures that the process of data management is transparent, accurate and robust.
  5. Finally set actions for future success. GRESB addresses several key areas of an EMS within their survey such as management responsibilities, communication, training, objectives and, importantly, the results they are delivering. Developing an EMS therefore seems an appropriate approach to score well in GRESB. Find out here how a Plan-Do-Check-Act (EMS) approach can impact your GRESB score.

Final thoughts for GRESB success in 2018;

  • Start early / now!
  • Engage with internal colleagues and external stakeholders
  • Understand indicator intent and scoring requirements
  • Gather evidence and identify alignment to requirements
  • To make it easy on yourself and others – get in touch and our team of experts will be happy to help.

Request the webinar recording


GRESB Premier PartnerWe are perfectly positioned to provide GRESB support. View our official Premier Partner profile.

We can work with you to complete the submission and understand your scoring, as well as develop a sustainability plan that will improve your future GRESB performance and align with your organisation’s key environmental objectives.

Monitoring and visualising indoor air quality with Foobot

With the rise of the health and wellbeing agenda, monitoring and visualising the indoor environmental quality (IEQ) of the workplace is emerging as a key objective for many.

Some smart buildings already have expensive state of the art IEQ monitoring in place. But what if you don’t find yourself in this situation and need to set up a system from scratch? You could go out and procure said ‘state of the art’ system at significant expense. However, if you are budget-constrained, you may find yourself looking toward the more cost efficient, ‘consumer-grade’ end of the IEQ monitoring spectrum…


Measuring IAQ

Now, we know there are considerable limitations with certain consumer-grade IEQ monitoring devices – including their level of calibration and, ultimately, accuracy. However, for this blog we would like to set this issue aside and focus on the practicalities of installing and monitoring indoor air quality through a popular consumer-grade monitoring device: Foobot.

With an interest in air quality, one of our consultants found Foobot. Foobot is a low-cost air quality monitoring tool which can interface with internet-based apps to log air quality and also help you to do something about it.

Setup

Setting up Foobot is easy. Once you’ve unboxed and plugged the monitor in, you need to download the Foobot app to an Android or iPhone smart phone.  After registering on the app, it will then allow you to connect to the monitor. Once connected, you can then monitor Foobot readings wherever you are.  For easy comprehension, Foobot gives you a headline air quality score, which is made up of several readings including carbon dioxide, particulates, and humidity.

The main Foobot phone screen, showing an air quality score (50+ is poor)


Data and API

As well as the app, Foobot supplies an API, which can be used to extract data from your monitor for your own use. To get the data you basically fire various URLs to the API, which include an API key supplied by Foobot, that will return data. This is quite advanced stuff for those who want to build their own mini applications. An easier way to do this would be to use something called IFTTT.

Connect Foobot up to other apps using IFTTT

A useful website www.ifttt.com (If this then that) has lots of applets; readymade code snippets that are based on a trigger (this) and an action (that). Handily there’s a few setup already for Foobot. For our Foobot (named Evorabot) we have used two – one to log readings to a google spreadsheet and the other to message a reading when you physically tap the monitor twice.

The Foobot applets listed on the IFTTT website.

To use IFTTT, first you need to register as a new user on the site. This can be done using a Facebook or Google login or a login specifically for IFTTT. Once registered you can then set up applets.

To setup an applet is simple.

  1. You choose the applet you want to use (Foobot/Twitter/Instagram).
  2. You then click on the trigger part of the applet (The ‘this’).
  3. This will prompt you to connect a Foobot device.
  4. To connect your Foobot to the IFTTT site, you just need to enter the login you created when you registered your Foobot using the mobile app.
  5. Once it is registered you can use any of the Foobot triggers for the ‘this’ part of the applet.
  6. For the ‘that’ part, we first used a connection to a Google drive account to log each reading made by our Foobot to a google sheet. This graph is a google sheets graph, plotting CO2 output in the Evora office.

An example Co2 graph of the Evora office

Using Slack

We now use an IFTTT applet which logs a reading to one of our Slack channels (the app we use for internal communications with the team). The Foobot reading is triggered by someone tapping/knocking on the device which then posts a message in the appropriate conversation.

The knock knock Foobot app in action


Hacks to the future

The great thing about Foobot is that its already collaborating with other technologies to create complete solutions. This includes linking to Nest to enable more ventilation if air quality gets too bad. These hacks enable both offices and homes to create Smart ventilation, keeping poor air quality in check.

We may well explore this solution for our office. For now, when the air quality gets bad, we open some windows!

GRESB Infrastructure Survey: What is it?

EVORA is now entering its seventh year of helping entities produce GRESB Real Estate Survey submissions, and with each passing cycle we have accrued more expertise, expanded our client base, and become leaders in the field. Last year we provided comprehensive support to 26 funds and general support to many others, and this year the figure is set to get even higher as we gain greater recognition for our expertise.

But GRESB offers more than just the Real Estate Survey, and for 2018 we have expanded our scope of services to include the GRESB Infrastructure Survey.


What is the GRESB Infrastructure Survey?

Much like its real estate equivalent, the GRESB Infrastructure Survey is an investor-driven assessment of ESG (Environmental-Social-Governance) performance for entities.

Much of the content is also very similar, however the setup of the Infrastructure Survey is quite different from that of GRESB Real Estate, as it is broken down into two sub-surveys: 1) the Fund Assessment and 2) the Asset Assessment.

The Fund Assessment is a relatively small element of the overall survey, and focuses on ESG policies and principles, persons responsible for ESG issues, and the monitoring and mitigation of ESG risks, at the entity level.

Meanwhile, it is the Asset Assessment that is broken down into the familiar Management, Policy & Disclosure, Risks & Opportunities, Monitoring & EMS, Stakeholder Engagement, Performance Indicators, and Certification & Awards modules, albeit with differences in the questions themselves and the distribution of points compared to GRESB Real Estate. Additional content includes questions relating specifically to biodiversity and air pollutants in the Performance Indicators section, whilst there is for example less focus on certification.

An optional Resilience module has also been introduced for GRESB Real Estate and GRESB Infrastructure in 2018 – you can read more about it here.


Asset Assessments – Weighted Asset Average

You are free to submit a standalone Fund Assessment without asset-level evaluation if you wish. However, to get an overall GRESB Infrastructure score you must also complete the Asset Assessment for at least 25% of your portfolio (usually weighted by GAV). Furthermore, there is an advantage to completing Asset Assessments for as many assets as possible, as your scores are collated into a Weighted Asset Average (WAA) where assets that did not complete an Asset Assessment score zero.

Your WAA is worth 70% of the final GRESB score, with the Fund Assessment making up the other 30%. A simple example calculation is provided below:

GRESB Infrastructure Survey - WAA table

Combined with an example Fund Assessment score of 76, the overall GRESB score would be:

(56   x  70%)   +   (76  x   30%)   =   62

Which represents:

(WAA Score x Asset Assessment Weighting) + (Fund Score x Fund Assessment Weighting) = Overall Score

The GRESB Infrastructure Survey is comprehensive in its coverage of ESG content, whilst also allowing a wide range of infrastructure assets, from airports to schools to toll roads to windfarms, to be compared. ESG issues matter for all forms of built infrastructure, and GRESB provides an ideal platform to meet investor and public demand for improved sustainable performance.


If you think GRESB Infrastructure might be for you, then get in touch and our team of experts will be happy to help.

 


GRESB Premier PartnerAs a GRESB Real Estate Premier Partner, we are perfectly positioned to provide GRESB support. View our official Premier Partner profile.

We can work with you to complete the submission and understand your scoring, as well as develop a sustainability plan that will improve your future GRESB performance and align with your organisation’s key environmental objectives.