RP1: ESG Reporting – Above Green

Intent

This indicator assesses the level of ESG disclosure undertaken by the entity. It also evaluates the entity’s use of third-party ESG reporting review to ensure the reliability, integrity, and accuracy of ESG disclosure. Disclosure of ESG information and performance demonstrates an entity’s transparency in explaining how ESG policies and management practices are implemented by the entity, and how these practices impact the business. In addition, third-party ESG disclosure review increases investors’ confidence in the information disclosed.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Does the entity disclose its ESG actions and/or performance?

Yes
- Please select all applicable options (multiple answers possible)
  - Selection in Annual Report
    - Select the applicable reporting level
      - Entity
      - Investment manager
      - Group
    - Aligned with: [Guideline name]
    - Disclosure is third-party reviewed:
      - Yes
        
        Externally checked
        
        Externally verified using: [Scheme name]
        
        Externally assured using: [Scheme name]
      - No
    - Upload file or URL where in the evidence the relevant information can be found____
  - Stand-alone sustainability report(s)
    - Select the applicable reporting level
      - Entity
      - Investment manager
      - Group
    - Aligned with: [Guideline name]
    - Disclosure is third-party reviewed:
      - Yes
        
        Externally checked
        
        Externally verified using: [Scheme name]
        
        Externally assured using: [Scheme name]
      - No
    - Upload file or URL where in the evidence the relevant information can be found____
  - Integrated Report *must be aligned with IIRC framework
    - Select the applicable reporting level
      - Entity
      - Investment manager
      - Group
    - Aligned with: [Guideline name]
    - Disclosure is third-party reviewed:
      - Yes
        
        Externally checked
        
        Externally verified using: [Scheme name]
        
        Externally assured using: [Scheme name]
      - No
    - Upload file or URL where in the evidence the relevant information can be found____
- - Dedicated section on corporate website
    - Select the applicable reporting level
      - Entity
      - Investment manager
      - Group
    - Upload file or URL where in the evidence the relevant information can be found____
  - Section in entity reporting to investors
    - Aligned with: [Guideline name]
    - Disclosure is third-party reviewed:
      - Yes
      - No
    - Upload file or URL where in the evidence the relevant information can be found____
  - Other: ____________
    - Select the applicable reporting level
      - Entity
      - Investment manager
      - Group
    - Aligned with: [Guideline name]
    - Disclosure is third-party reviewed:
      - Yes
        
        Externally checked
        
        Externally verified using: [Scheme name]
        
        Externally assured using: [Scheme name]
      - No
    - Upload file or URL where in the evidence the relevant information can be found____
No

Scheme name

AA1000AS
Advanced technologies promotion Subsidy Scheme with Emission reduction Target (ASSET)
Airport Carbon Accreditation (ACA) des Airports Council International Europe
Alberta Specified Gas Emitters Regulation
ASAE3000
Attestation Standards established by the American Institute of Certified Public Accountants/AICPA (AT101)
Australia National Greenhouse and Energy Regulations (NGER Act)
California Mandatory GHG Reporting Regulations (also known as California Air Resources Board regulations)
Canadian Institute of Chartered Accountants (CICA) Handbook: Assurance Section 5025
Carbon Trust Standard
Chicago Climate Exchange verification standard
Climate Registry General Verification Protocol (also known as California Climate Action Registry (CCAR))
Compagnie Nationale des Commissaires aux Comptes (CNCC)
Corporate GHG Verification Guidelines from ERT
DNV Verisustain Protocol/ Verification Protocol for Sustainability Reporting
Earthcheck Certified
Enviro-Mark Solutions’ CEMARS (Certified Emissions Measurement And Reduction Scheme) standard
ERM GHG Performance Data Assurance Methodology
IDW PS 821: IDW Prüfungsstandard: Grundsätze ordnungsmäßiger Prüfung oder prüferischer Durchsicht von Berichten im Bereich der Nachhaltigkeit
IDW AsS 821: IDW Assurance Standard: Generally Accepted Assurance Principles for the Audit or Review of Reports on Sustainability Issues
ISAE 3000
ISAE 3410, Assurance Engagements on Greenhouse Gas Statements
ISO14064-3
JVETS (Japanese Voluntary Emissions Trading Scheme) Guideline for verification
Korean GHG and energy target management system
NMX-SAA-14064-3-IMNC: Instituto Mexicano de Normalización y Certificación A.C
RevR 6 Bestyrkande av hållbarhetsredovisning (RevR 6 Assurance of Sustainability)
RevR6 Procedure for assurance of sustainability report from Far, the Swedish auditors professional body
Saitama Prefecture Target-Setting Emissions Trading Program
SGS Sustainability Report Assurance
Spanish Institute of Registered Auditors (ICJCE)
Standard 3810N Assurance engagements relating to sustainability reports of the Royal Netherlands Institute of Registered Accountants
State of Israel Ministry of Environmental Protection, VERIFICATION OF GREENHOUSE GAS EMISSIONS AND EMISSIONS REDUCTION IN ISRAEL GUIDANCE DOCUMENT FOR CONDUCTING VERIFICATIONS, Process A.
Swiss Climate CO2 label
Thai Greenhouse Gas Management Organisation (TGO) Greenhouse Gas (GHG) Verification Protocol
Tokyo Emissions Trading Scheme
Verification under the EU Emissions Trading Scheme (EU ETS) Directive and EU ETS related national implementation laws
Dutch Standard for Assurance assignments 3000A
MOHURD Guidelines for Public Building Energy Audit
ISO 50002 standard
ISO 19011 standard

In all cases:

Select the applicable reporting level. If the entity reports at multiple levels, the most detailed reporting level should be selected.

Entity: Related specifically to the named entity, where entity is defined as the investable portfolio for which you are submitting an Assessment response. This option should be selected if the scope of the reporting (e.g., Annual Report) includes actions/performance disclosure that is in direct reference to and/or matches the entity subject to the GRESB submission. For example, an Annual Report that is solely applicable to the entity or includes specific and detailed actions/performance of the entity in addition to other entities within the group of companies.
Investment Manager: Related to the investment management entity or company of which the participating entity forms a part. This option should be selected if the scope of the reporting (e.g. Annual Report) includes the entity subject to the GRESB submission.For example, an Annual report that does not include specific and detailed actions/performance of the entity itself, but rather for the investment manager as an aggregate.
Group: Related to the group of companies of which the participating entity forms a part. This option should be selected if the scope of the reporting (e.g., Annual Report) includes the entity subject to the GRESB submission.For example, an Annual report that does not include specific and detailed actions/performance of the entity itself, but rather for the larger group of companies as an aggregate.

If applicable, select alignment from the dropdown lists to confirm that your method of reporting is aligned with an external standard or guideline. The list is based on leading international best practice guides for sustainability reporting. If reporting is aligned with more than one standard, select the standard with which there is most alignment.
State whether the methods of reporting are checked, verified or assured (select one option; the most detailed level of scrutiny to which the disclosure was subject to).
Select the assurance/verification standard (if applicable) from the dropdown menu (see Accepted assurance schemes in the Appendices); The assurance/verification statement must be included within the evidence uploaded for the selected disclosure method.
Provide document upload or URL.

Validation

Reporting year: Answers must refer to the reporting year identified in EC4. The disclosure must be referencing actions and/or performance from the reporting year. For example, disclosures published in 2020 referencing 2019 actions and/or performance are valid. Stand-alone sustainability reports can also refer to the year prior to the reporting year, and integrated reports can also refer to two years prior to the reporting year identified in EC4.

Reporting level: Answers must clearly reference the applicable reporting level. The ESG information and/or performance must be directly in reference to the entity if entity-level is chosen.

Third party review: The evidence provided must support the selected level of third party review (if applicable). The assurance and/or verification of ESG disclosure is separate from the assurance and/or verification of performance data reported in the Data Monitoring & Review aspect. Supplementary evidence can be provided if the disclosure itself does not include confirmation of review. The evidence relating to the check, verification, and/or assurance must be in reference to the uploaded disclosure method provided (i.e., Annual report).

Alignment: The evidence provided must support the alignment chosen (if applicable). The evidence should have a clear mention of the alignment chosen.

Evidence: Document upload or hyperlink. The evidence must sufficiently support all the items selected for this question. If a hyperlink is provided, ensure that it is not outdated and the relevant page can be accessed within two steps.

Disclosure type: Provide unique evidence for each relevant disclosure type. Note that identical documents will not be accepted for more than one disclosure type, select the most appropriate disclosure type for each piece of evidence (e.g. an integrated report cannot be provided for both Annual report and Integrated report).

Annual report: The report must reference actions and/or performance from the reporting year. For an entity reporting on calendar year 2019, the Annual Report must cover the year January -December 2019. An Annual Report referencing 2018 calendar year actions and/or performance is not valid unless it is explicitly noted that the 2019 Annual Report has not been published yet.
Standalone sustainability report: The report must reference the reporting year or the year prior. For example, a Sustainability Report referencing 2019 or 2018 actions and/or performance, is valid. A Sustainability Report in reference to 2017 is not valid. Standalone sustainability reports must be published separately from the Annual Report. A section in the Annual Report would not be appropriate evidence for this disclosure type, but should be reported under Annual Report.
Integrated report: The document upload or URL provided must contain clear evidence of alignment with the International Integrated Reporting Council (IIRC) Integrated Reporting Framework (December 2013). Integrated reports can reference 2019, 2018, or 2017 performance and/or actions.
Dedicated section on corporate website: A separate section on the company’s website that explicitly addresses ESG actions and/or performance. A hyperlink to the Annual Report or Sustainability report is not valid.
Entity reporting to investors: A summary outlining an entity’s overall approach to sustainability that does not contain any analysis of performance is insufficient. Entity reporting to investors should include year-on-year comparison of sustainability performances supported by explanatory comments. Performance achievements should be linked to measures formerly implemented by the entity. Quarterly updates, newsletters, or press releases disclosing ESG actions and/or performance from the reporting year are considered valid.
Other: An additional disclosure method such as third-party forms of disclosure like 2019 CDP Questionnaires or 2019 UN PRI Transparency Reports are valid. Ensure applicability to the reporting year based on the actions and/or performance disclosed.

See Appendix 2a for additional information about GRESB Validation.

Scoring

3.5 points, G

Scoring is based on the number of selected options. It is not necessary to select all options to achieve the maximum score.

Evidence: The evidence is manually validated and points are contingent on the validation decision.

The provided evidence must cover actions and/or performance from each element of E, S, and G.

Other: The 'Other' answer is manually validated and points are contingent on the validation decision.

See the Scoring Document for additional information on scoring.

Terminology

Alignment: To agree and match with a recognized sustainability standard (either voluntary or mandatory).

Annual report: A yearly record of an entity’s financial performance that is distributed to investors under applicable financial reporting regulations.

Assured/Verified: The process of checking data, as well as its collection methods and management systems, through a systematic, independent and documented process against predefined criteria or standards. Assurance/Verification services should be in line with a standard and can only be provided by accredited professionals.

Checked: A third-party review that does not comply with the definition of Assurance/Verification.

Dedicated section on corporate website: A section of the entity’s website that explicitly addresses ESG performance.

Disclosure: The act of making information or data readily accessible and available to all interested individuals and institutions. Disclosure must be external and cannot be an internal and/or ad hoc communication within the participating entity.

Entity reporting to investors: A report prepared by the participant for the purpose of informing investors on the ESGperformance of the entity. A summary outlining an entity’s overall approach to ESG that does not contain any analysis of performance (as defined below) is insufficient.

ESG actions: Specific activities performed to improve management of environmental, social and governance issues within the entity.

ESG performance: Reporting of material indicators that reflect implementation of environmental, social, or governance (ESG) management.

Integrated Report: A report that is aligned with the requirements of the International Integrated Reporting Council (IIRC) Integrated Reporting Framework (December 2013).

Standalone sustainability report: A report dedicated to the entity’s sustainability or ESG performance.

Reporting Level:

Entity: related specifically to the named entity, where entity is defined as the investable portfolio for which you are submitting an Assessment response.
Investment Manager: related to the investment management entity or company of which the participating entity forms a part.
Group: related to the group of companies of which the participating entity forms a part.

Standalone sustainability report: A report dedicated to the entity’s sustainability or ESG performance.

References

ANREV Sustainability Reporting Guidelines, 2016

EPRA Best Practices Recommendations on Sustainability Reporting, 3rd version, September 2017

GRI Sustainability Reporting Guidelines, 2016: 202-1; 205-3; 308-2

308-2 IIRC Integrated Reporting Framework, 2013

INREV Sustainability Reporting Guidelines, 2016