GRESB Report 2011
- Working Paper
- Sustainable Real Estate
At the request of a global consortium of institutional investors, 340 of the worldʼs largest property funds have disclosed detailed data on the environmental performance of their portfolio. A report launched today shows that reporting on environmental metrics has improved substantially. Frontrunners in the commercial property sector reduced their energy consumption by three percent in 2010.
More than 340 property funds and companies, with real estate assets worth nearly US$1 trillion, have responded to a call for action by the GRESB Foundation, which is backed by US$1.7 trillion in institutional capital, to disclose information on environmental management and performance. The results, presented at a large real estate conference (EPRA) today, show that the respondents used energy worth US$5 billion in 2010, or the equivalent of about 34 million tons in estimated carbon emissions. On average, the funds consumed one percent less energy in 2010 compared to the year before, with Europe trailing Australia and the US. Environmental leaders, dubbed “Green Stars,” reduced energy consumption by as much as three percent.