sustainability case study
ROCKSPRING Property IM
Name & Location
Rockspring Property Investment Managers
Spitfire JV, Germany
No. of Assets
The Global Real Estate Sustainability Benchmark, abbreviated GRESB, was established in 2009 in the Netherlands and has gained astounding market presence as a real estate portfolio rating system. Based on the logics of other well recognised management systems, GRESB assesses the sustainability of portfolios and companies, while considering asset specific criteria. This encompasses the appraisal of sustainability strategies and risk management guidelines as well as existing certification. It assesses the level of communication and how sustainability is promoted by those involved such as fund managers, employees, asset managers, external providers, and the users. During asset specific assessment emphasis is placed on resource consumption. Ultimately, the portfolio is benchmarked against other similar portfolios on the real estate market. The assessment is conducted annually and the participants are awarded with a rating of their funds ranging from one to five stars.
In cooperation with our UK partner, EVORA, we have introduced an environmental management system in accordance with ISO 140001 and have assessed existing assets using BREEAM In-Use for our client Rockspring Property Investment Managers, which is based in London. The assessed fund is specialised in German retail assets. As a result, the GRESB assessment of the fund achieved above average marks. Within the period 2016 to 2017 alone the overall result was enhanced by 33% and four of five possible stars were awarded. Together with our client we intend to further refine the sustainability management of the fund using GRESB.