Third Party Standards

Share this
Bookmark & ShareX

Third Party Standards

We believe that transparent disclosure of our sustainability performance is part of our leadership role in the residential sector. We disclose performance through a range of industry recognised standards and benchmarks. One of the challenges we face in responding to investor surveys is the difficulty in collecting environmental data for a residential portfolio dominated by single family residences. Through our membership of the Global Real Estate Sustainability Benchmark (GRESB), we influence how the survey can more effectively benchmark performance of residential funds and portfolios.

ESOS is a mandatory energy assessment scheme for large organisations in the UK. ESOS assessments are audits of the energy used by an organisation’s buildings, industrial processes and transport in order to identify cost-effective energy saving measures. Assessments must be carried out every 4 years. Grainger completed our first assessment, which was due in December 2015 and submitted the results to the Environment Agency who administer the scheme. The results have now been published on their website, and can be downloaded here.

Grainger’s assessment, carried out by consulting engineers, Hoare Lea identified a number of opportunities for improvement in energy usage in the offices that we occupy and the common areas of a number of the blocks that we own and manage. The steps we are taking in response to the assessment are set out below:

  • We will ensure that the standard specifications for refurbishments that we carry out take account of the opportunities and recommendations.
  • We will review each of the specific recommendations for the buildings reviewed and implement those with a good financial and operational business case.
  • We will identify opportunities to implement the recommendations more broadly across our portfolios where a financial and operational business case can be made.
  • We will engage with our landlords to encourage them to implement the recommendations for the buildings in which we have our offices. In most cases we envisage that they will have carried out an ESOS assessment and we will work with our landlords to implement the relevant recommendations.

The Global Reporting Initiative (GRI) is a network-based organisation that has developed the world’s most widely used sustainability reporting framework and is committed to its continuous improvement and application worldwide. The reporting framework sets out the principles and indicators that organisations can use to measure and report their economic, environmental, and social performance.

We believe that reporting in line with GRI guidelines demonstrates our commitment to best practice disclosure. Following a review undertaken in 2014/15 we decided to transition to reporting in alignment with the GRI G4 guidelines in 2015/16. Since then, new GRI guidelines have been published, and Grainger has made the decision to transition straight to the new GRI reporting framework; GRI Standards. We have created a GRI Compliance Report which complies with the GRI Standards: Core option.

Download our GRI Compliance Report here

 

As a member of the European Public Real Estate Association, Grainger reports in line with EPRA’s Sustainability Best Practice Recommendations to provide our investors with full disclosure on the environmental performance of our own occupied offices and property investment portfolios.

Download our full EPRA sustainability best practice recommendations reporting table here.

 

 

The Global Real Estate Sustainability Benchmark (GRESB) enables us to benchmark the sustainability performance of our portfolio against peers, communicate our sustainability performance to our investors, develop tailored action plans and track our performance over time. Our commitment to long-term improvement is reflected in maintaining Green Star status for both Grainger plc and GRIP REIT plc. Grainger is a member of GRESB and actively engages with the organisation to share our experience as a residential specialist with GRESB and its participants.

 


The FTSE4Good Index Series has been designed to objectively measure the performance of companies that meet globally recognised corporate responsibility standards and enables us to assess our progress and achievement over time, whilst providing confidence for our investors.

 

As a FTSE 250 Company, Grainger is proud to have maintained our position on the FTSE4Good index every year since 2010, recognising our leading position regarding sustainability. Download additional disclosure on the FTSE4Good Index criteria here.

Last year a separate numerical score was given for disclosure, but in 2016, the disclosure and performance scores were combined, with each company receiving a score across one of the following four areas:

 

  • Disclosure – the completeness of a company’s response
  • Awareness – the extent to which the company has assessed environmental issues in relation to its business
  • Management – the extent to which a company has implemented actions, policies and strategies to address environmental issues, and
  • Leadership – steps a company has taken which represent best practice in the field of environmental management

We continue to improve our score on the CDP, this year scoring a B, achieving Management level under the new scoring methodology. This represents a significant improvement on last year’s score, and reflects our continued commitment to reporting our environmental performance.

Grainger Centenary Film