Update: Key Changes in the GRESB Real Estate Standard for the 2026 Assessment

• Embodied carbon

Measuring and disclosing embodied carbon in development projects will become increasingly important. The updated indicators now include scoring for both measurement and disclosure, and GRESB has signaled a shift toward more granular, asset-level reporting in the coming years. This is likely to require closer collaboration between sustainability teams and development or project management.

• For Real Estate portfolios (TC3/4), embodied carbon appears as a reporting requirement but does not yet influence the score. This provides time to build internal processes in preparation for the expected move toward asset-level embodied carbon reporting.

• For Development portfolios (DMA2 & DWS1), embodied carbon measurement and disclosure for new construction and major renovation projects will now contribute to scoring. Project teams may therefore need to document calculation methodologies and results more consistently.

• Net-zero targets (T1.2)

Net-zero targets must now be reported in a more structured and transparent way. This includes clearer short-, medium-, and long-term reduction milestones and the ability to specify which assets are included in the target boundary. The aim is to support greater credibility and comparability of climate commitments.

• Climate risk management (RM6.1–6.4)

The scoring weight for climate risk management increases in 2026 (+0.5 points per question). To secure these points, assessments must be portfolio-wide and asset-specific, cover both physical and transition risks, and include scenario analysis with documented mitigation actions. Ensuring that evidence is complete and up to date will be essential.

• Human capital (SE5)

The scoring weight increases from 0.5 to 1.5 points. The indicator also introduces a new “Other” gender option, allowing reporting of employees who identify outside the male/female categories.

• Fit-out & refurbishment program for tenants (TC3)

The scoring weight increases from 1.5 to 2.5 points. Additional scoring focuses on whether tenant fit-out programs integrate ESG topics, such as upfront (embodied) carbon and energy efficiency. To achieve full points, ensure that enough ESG elements are explicitly included in the guidance and that supporting evidence is documented.

• ESG requirements in lease contracts (TC4)

The scoring weight increases from 1.5 to 2.5 points. More points are awarded when lease contracts include data-sharing and metering provisions related to energy, water, and waste consumption. Verifying that lease templates include at least three such provisions—and ensuring evidence is available—will be important to secure the full scoring potential.

• Reclassification of operational emissions (GH1)

Emissions from landlord-controlled tenant spaces will be reclassified from Scope 3 to Scopes 1–2, aligning with the GHG Protocol.

• Building certifications

GRESB has aligned the implementation timeline of earlier announced updates with the broader set of major changes planned for the 2028 Standard.

For most portfolios, these refinements are expected to lead to only modest changes in total scoring for the 2026 Assessment. However, reviewing the updates in detail is advisable to ensure readiness and identify any documentation or process improvements needed for 2025.

Cooltree, with its combined expertise in ESG data collection and analysis, strategy and regulatory and legal topics can help. Get in touch at: info@cooltree.nl if you would like to discuss.