The Building Research Establishment (BRE), responsible for the BREEAM green building certification scheme, has partnered with the Global Real Estate Sustainability Benchmark (GRESB) to promote the advancement of sustainability and transparency in the real estate industry.
BRE will now sit on the GRESB Benchmark Committee and provide “strategic, commercial and technical input regarding the GRESB assessment process and related products and services”, according to a joint media release.
The partners claim the merger will improve connections between asset- and portfolio-level assessments, streamlining the flow of relevant, actionable information.
“[BREEAM] currently provides a valuable route to achieving credits under the GRESB benchmark and our hope is to extend its reach under the partnership so more clients can realise the benefits on new and existing properties,” says BREEAM director Gavin Gunn.
“Our collaboration demonstrates that GRESB recognises all green building standards and schemes that have credibility and rigour behind them. We look forward to a fruitful relationship.”
The BREEAM tool is used internationally, though mostly in the UK and Europe. GRESB assesses the environmental, social and governance performance of property funds around the world.
“Commercial real estate investors are increasingly demanding information on their assets and portfolios to better understand immediate sustainability risks,” says Nils Kok, chief executive and co-founder of GRESB.
“Our partnership with BRE helps both organisations to further deliver on the joint mission to advance sustainability in the built environment to enhance and protect shareholder value.”