Our free access period ends on the 18th April 2022. To find out about membership to Sustain RE, please contact us.

Private equity firm General Atlantic has taken a majority stake in real assets sustainability benchmark company GRESB.

The New York-based investor, with $71 billion of assets under management, will invest in GRESB via its BeyondNetZero climate growth fund. General Atlantic will acquire its stake from existing shareholder Summit Partners, which will retain a minority position.

GRESB CEO Sebastien Roussotte, said: “GRESB looks forward to contributing to BeyondNetZero’s vision for climate action powered by technology, innovation, and entrepreneurship. This vision underpins GRESB’s industry-led approach to creating global standards which increase market transparency and accelerate the clean energy transition.” 

Rhea Hamilton, managing director at BeyondNetZero, said: “We believe GRESB’s management of asset-level data and compelling value proposition deepen the Company’s position as an enabler of decarbonization for investors and asset managers. We share GRESB’s conviction in accelerating the global transition to sustainable real assets and look forward to partnering with the Company’s mission-driven team.” 

Real estate sustainability benchmark GRESB has seen substantial growth for its 2022 release, which now covers $6.9 trillion of gross asset value. 

Globally, the real estate benchmark grew by 20% in 2022 and covers 150,000 assets (see illustration above).

Average scores across real estate rose one point to 74 for standing investments and two points to 81 for developments. Oceania remains the best-performing region, scoring 82 for standing assets and 88 for developments.

Asia is the next best performing region with an overall score of 78 (2021:75), followed by Europe on 73 (2021: 71). The Americas region average score fell 1 point to 71, however this was due to substantial growth in the region, with 30% of participants taking part for the first time.

“The industry’s embrace of ESG continues to be reflected in our strong participation numbers and increased data coverage, signalling that real assets investors and managers alike remain steadfast in their commitment to sustainability,” said Sebastien Roussotte, CEO of GRESB. ​​

The post-covid recovery in most markets led to a rise in energy use in the 2022 assessment compared with the sharp dip in 2021. However, like-for-like greenhouse gas emissions still fell marginally. 

For more information on the GRESB real estate results click here