Two global organisations that promote 'green' strategies in the real estate sector are joining forces to help improve the sustainability performance of investment portfolios and the sector at large.
Two global organisations that promote 'green' strategies in the real estate sector are joining forces to help improve the sustainability performance of investment portfolios and the sector at large.
Professor Nils Kok, executive director of the Global Real Estate Sustainability Benchmark (GRESB), and Pieter Hendrikse, CEO of CBRE Global Investors and chairman of the Green Rating Alliance (GRA), signed a memorandum of understanding for the alliance on Tuesday. The two bodies have committed to increase cooperation and data sharing of their mutually compatible schemes.
GRA's Hendrikse said: 'We are glad that we have found the perfect partner for the Green Rating Alliance with GRESB. While GRA is focusing on property sustainability performance, GRESB is assessing property funds and companies. Both associations will benefit from each other by sharing their knowledge, joint activities and discussions between their members within the international real estate industry. We are looking forward to working together on a day-to-day basis and improve the sustainability performance in all our portfolios.'
Kok of GRESB said: 'GRESB and the GRA are both committed to independent evaluation of the sustainability performance of the real estate sector and complement each other. This partnership allows us to achieve our common goal of enhancing and protecting value by improving the sustainability performance of the built environment.'
GRESB is investor-led, backed by 40 institutional investors and all the leading industry bodies and real estate associations focused on the investment portfolio level. GRA is a manager-led initiative with the aim of optimising the sustainability performance of individual buildings.
