GID achieved outstanding results on the 2021 GRESB Real Estate Benchmark. We are pleased to share that for the second consecutive year, a GID investment vehicle ranked 1st in U.S. Residential Multi-Family Core in 2020 and 2021. They also received the prestigious recognitions of Residential Overall Regional Sector Leader and Residential Regional Sector Leader. In addition, they achieved a GRESB 5 Star Rating for the second year in a row, which is the highest rating and recognition for an industry leader that only 20% of entities receive.
The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations. The GRESB ESG Benchmarks grew this year to cover more than $6.4 trillion of assets under management, up from $5.3 trillion the year before.
The GRESB Sector Leader Awards Program recognizes real estate and infrastructure companies, funds and assets that have demonstrated outstanding leadership in sustainability and ESG. GRESB data is used by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios and understand the opportunities, risks and choices that need to be made as the industry transitions to a more sustainable future.
“Over the years, GID has made great progress with our ESG program. We are very proud that one of our investment vehicles was named the Residential Overall and Regional Sector Leader in the 2021 GRESB Assessment. This achievement really demonstrates the progress we have made in our ESG program and performance throughout our portfolio. We look forward to making important strides toward a more sustainable future.” - Philip J. Carmody, Head of ESG and Corporate Programs
Since 2016, GID has implemented a broad array of ESG measures across all areas of the company in support of their mission to leverage their investment, development and management expertise to enhance the communities in which they invest, live and operate.
GID’s 2020 achievements include:
Continued LED lighting retrofit program at eight properties, projected to save 562.5 MWh of energy annually, the equivalent of 48 residential homes’ energy use each year.
Achieved 15 ENERGY STAR certifications to recognize their highest performing assets.
Achieved IREM Certified Sustainable Property certifications for five properties.
Installed smart irrigation systems at three multi-family properties to reduce outdoor water use.
Continued Diversity and Inclusion Internship program for underrepresented candidates to prepare themselves for a career in the real estate industry.
Learn more about GID’s ESG program in their 2020 ESG Report.
GID is a 60-year-old privately held and fully integrated real estate company that develops, owns and operates a premier portfolio of multi-family, industrial and mixed-use development space. GID’s existing and under-development properties are valued at $20 billion. The company has offices in Atlanta, GA; Boston, MA; Dallas, TX; New York, NY; and San Francisco, CA. GID owns and manages 290 investment properties and employs over 1,000 real estate professionals.
During their 60-year history, GID has acquired, managed, or developed over 86,000 residential units and 32 million square feet of commercial space in twenty-five states. The current portfolio includes 38,000 residential units and 19 million square feet of industrial and 1 million square feet of other commercial space. GID’s development activities include more than 8,800 units and 1.4 million square feet of commercial space currently under construction or in the pipeline.
Learn more at https://www.gid.com/esg/
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 140 institutional and more than 2,200 fund managers, companies and asset operators to improve decision-making.
The Assessment is shaped by what investors and the industry consider to be material issues in the sustainability performance of real estate investments. The methodology is consistent across regions, investment vehicles and property types, while aligning with international reporting frameworks.
In 2021, more than 1,500 property companies, REITs, funds and developers participated in the Real Estate Assessment, representing $6.4 trillion in assets under management. The Assessment covers nearly 117,000 assets across 66 countries.
Learn more at www.GRESB.com