One of my favorite Elvis Presly songs, “A little less conversation” starts with the lyric, “A little less conversation a little more action, please”, which speaks to my soul.
I like practicing sustainability and reporting is just part of good practice from my perspective. You get it. We enjoy seeing the project payoff. So, it is in the spirit of putting the action before the conversation that I think we should now strategize for Global Real Estate Sustainability Benchmarking (GRESB) for next year. Yes, I know that the energy, water, and trash data for 2024 is almost locked in with only three weeks left in the year, so I could sound crazy, but it is important to periodically re-evaluate our building certification programs.
GRESB reporting is not going away. In fact, in the 2024 reporting season, the United States saw the number of entities taking part in GRESB increase by twenty-three entities. GRESB is growing here. The coveted high scores on GRESB represent future investment in the winners’ portfolios. That is why it is important to evaluate your green building certification program.
Just as some initiatives give an owner more points towards their GRESB score than others, some certifications earn more points than others. This is where action becomes important. The new scoring of building certification programs gives preference to green designations recognized by GRESB and gives more weight to those certifications that measure ongoing performance. Action matters. These performance-based certifications typically have measurable targets on water, energy and waste. These types of certifications involve commitments and renewal with documentation of building performance. So, in a way it is like getting extra credit for great action.
If you already have a certification for a community, it does not mean that it provides no value for GRESB scoring. It just means that, as you move forward, it may be beneficial to consider other certification options for your communities. As we plan for 2025, let us look at a renewed focus on action so that our reporting scores for GRESB next year do not have us all shook up.
