by Brianna Crandall — March 16, 2016—Indicating the rising importance of health and well-being initiatives in the corporate world as part of an overall sustainability mindset, the GRESB global standard for environmental, social and governance (ESG) assessment of real estate portfolios and infrastructure assets just announced the launch of the GRESB Health and Well-being Module.
This new module is an optional supplement to the GRESB Real Estate Assessment, which is an annual survey on behalf of a large group of institutional investors that captures information regarding the ESG performance of property companies, fund managers and developers.
The new module evaluates and benchmarks actions by property companies and funds to promote the health and well-being of employees and their strategy to create value through products and services that promote health and well-being for their tenants and customers.
Chris Pyke, COO, GRESB, said:
The design, construction and operation of our built environment has a profound impact on individuals and populations. GRESB’s vision is to ultimately create better places for people and communities — places that reduce environmental impacts, improve social practices and set high standards for corporate governance — in profitable ways that make good business sense and reward innovation.
Real estate development can serve to create superior places — places that enhance productivity, support physical activity, promote social interaction, provide access to vital services and contribute to happiness, points out GRESB.
As interest in health and well-being in the built environment grows, the industry has recognized the need for practical tools for systematic assessment, objective scoring and peer benchmarking of health and well-being.
The GRESB Health and Well-being Module includes 10 new indicators providing investors and property companies and funds with new insights on leadership, needs assessment, implementation action and performance monitoring, adding transparency and making health an “investible attribute” of real estate.
The module has two primary areas of focus: (1) the promotion of health and well-being for employees and (2) the provision of products and services that help promote health and well-being for tenants and other customers.
The GRESB Health and Well-being Module is now available in pre-release via the GRESB Web site, together with the accompanying GRESB Real Estate Health and Well-being Module Reference Guide. It will be open for submission starting April 1, alongside the GRESB Real Estate Assessment.
