How is sustainability measured in commercial property?
Endorsement of the progress that the commercial property industry is taking worldwide is often referenced through GRESB, the Global Real Estate Sustainability Benchmark, which seeks to explore how individual property entities are addressing ESG issues and how collectively the industry is adopting good practice, achieving aspirations and contributing to universal concerns.
The benchmark has undoubtedly become the de-facto proxy indicator of a property fund’s ESG credentials. Originally a comparison of less than 200 entities, GRESB has evolved to capture over 1200 participant funds worldwide. The annual survey explores ESG characteristics and activity under the key dimensions of management and performance and focuses on aspects such as leadership, policies, reporting, and risk assessments, as well as utility consumption and greenhouse gas emissions associated with the operation of real estate assets.
Trust tops its peer group with green star status
BMO Commercial Property Trust has been participating in GRESB since 2018 and has maintained an upward trajectory in scoring in each subsequent year of involvement. This year, with a score of 70, the Trust topped its peer group of UK-listed diversified funds for the first time, being the only entity in the group to achieve three green star status.
BMO Commercial Property Trust GRESB score, versus peers