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INREV launches ESG framework for building level

INREV, the European Association for Investors in Non-Listed Real Estate Vehicles, introduces a revised framework for ESG reporting. A significant update is the framework's provision for reporting at the building level, in addition to traditional entity-level reporting. INREV comments: "Just as the INREV guidelines evolve to align with industry trends and investor demands, our standardized templates, including the Standardised Data Delivery Sheet (SDDS), have been updated to remain relevant, practical, and indispensable in today's dynamic market."

A pivotal development in the market is the growing need for convergence between frameworks like SDDS and those of appraisers, such as RICS, for reporting on ESG performance of buildings. This need is driven by the desire for clear definitions, becoming increasingly crucial as ESG impacts the valuation of buildings and portfolios more significantly.

After a seven-week consultation period and approval from the Management Board, the latest revised SDDS and new ESG SDDS templates will be available from November 2023.

The SDDS update will reflect the new content of INREV guidelines, align the SDDS with global terms and definitions, and include a new section with asset-level data. Feedback was provided on the following input sheets:

  • I. Key Entity Terms
  • II. Entity-Level Data III.
  • Investor-Level Data
  • IV. Asset-Level Data - NEW
  • V. Portfolio Distribution

The ESG SDDS is a new ESG reporting template that will assist members in reporting their ESG performance and standardize how ESG KPIs are reported for real estate investment entities, with the potential to automate information exchange.

Read more about INREV's SDDS update.