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Octopus Real Estate GRESB

Client: Octopus Real Estate

Location: UK wide

Size: Multiple assets

Project Start: 2019

Our Scope: ESG Advisor and GRESB Support

Envision has been supporting Octopus Real Estate since 2019 to develop and deliver a progressive ESG strategy for their Healthcare Fund, covering their portfolio of over 80 operational care homes, in addition to a increasing number of forward funded developments. As part of our role, we have worked with Octopus to improve their performance on the annual GRESB benchmark, the leading global real estate ESG reporting framework and benchmark, with over 2,000 participants in 2023 across 75 countries.

Over the last 5 years, Envision has provided a wide range of ESG services to help improve Octopus Healthcare Fund’s GRESB submission. Our GRESB support service includes:

  • Review and verification of the porfolio’s performance data to identify and resolve gaps in energy, water, and waste reporting
  • External verification and guidance on annual and quarterly reporting
  • Preparation of written responses for the GRESB submission
  • Analysis of GRESB draft results and support with queries to raise
  • Appraisal of final results and identified actions for the following year

As well as the annual submission process, we have provided support on specific indicators, working to support Octopus Real Estate’s wider ESG goals, which has in turn benefitted the GRESB score. Examples of this include undertaking an ISO 14001 gap analysis, producing a Green Book for developers and a tenant fit out and refurbishment guide, and rolling out a BREEAM In Use assessment programme across the portfolio.

For their first GRESB submission in 2019, the Octopus Healthcare Fund scored 39/100, a one-star rating, and came 8th in their peer group. With our support, the team at Octopus has dramatically increased their score over the years, culminating in last year’s submission, 2023, where the fund scored an incredible 91/100 and achieved the coveted 5* rating for the first time. Thanks to Envision’s support, Octopus came top of their peer group in GRESB. Our support to Octopus continues, with ambitious new targets in net zero and the aim to retain this top position in the GRESB rankings.

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