Move creates asset-to-portfolio toolkit for measuring sustainability of world’s largest asset class
Washington, D.C. (Oct. 15, 2014) – The Green Building Certification Institute (GBCI), the certification body for the global LEED® green building rating system, the WELL Building Standard®, the PEER™ program and other sustainability initiatives, announced today that it has acquired GRESB (the Global Real Estate Sustainability Benchmark), an industry-driven organization committed to assessing the sustainability performance of real estate portfolios around the globe.
“The advent of green building created an industry that has been hard for investors to valuate,” said Rick Fedrizzi,” CEO, Green Building Certification Institute. “Investors have come to understand that green building represents a significant way to reduce their exposure to risk related to environmental, social and governance (ESG) issues, but until recently, there was no way to measure it.
“GRESB delivers the missing link by providing a framework for this measurement within and across portfolios,” added Fedrizzi. “The merging of our two organizations will provide an unprecedented view of global real estate that can help protect and enhance the value of its investments and contribute to a more sustainable built environment at the same time. This is a huge step.”