Leading evaluation system for measuring the sustainability performance of property companies, real estate funds and developers recognise the Irish national certification for sustainable homes as a full points scheme for new residential developments.
Developers and investors can now report their sustainability scores for new homes to GRESB using the Home Performance Index.
GRESB provides institutional and financial investors with standardised and validated performance data, benchmark reports and portfolio analysis tools. In Ireland, an increasing number of property and construction businesses such as CBRE, Hammerson, Hibernia REIT, Hines and IPUT are reporting to GRESB.
The Home Performance Index (HPI) was developed by the Irish Green Building Council, as Ireland’s national certification for quality and sustainability in new residential developments. It goes well beyond the Building Energy Rating (BER) and addresses all the environmental impacts of new homes, from the production of building materials to biodiversity loss, water consumption and flood risks. It also encourages home builders to improve the health and wellbeing of occupiers, by improving daylight and acoustics, and minimising harmful chemicals.
Pat Barry, CEO of the Irish Green Building Council said: “The Home Performance Index is fully aligned with the Paris Agreement. It gives developers and investors a third-party verified seal that the homes they are building and investing in are climate-proof. GRESB’s recognition of the HPI as a full points certification system should help Irish developers demonstrate corporate responsibility and sustainability and attract further ethical investment”.
“Large investors expect usable good quality data on the sustainability performance of the portfolios that they are investing in. They are now benchmarking the sustainability of the assets they purchase and operate.’’
Roxana Isaiu, Chief Sustainability Officer (CSO) of GRESB said: “One of the key benefits of participating in GRESB for developers is to attract new investors seeking more comprehensive risk, opportunity and impact analysis. It also gives them a clear picture of their environmental and social performance, and how it can be improved. We are absolutely delighted to see uptake of reporting from Irish developers”.
Sustainability credentials are now critical for investors. The recently published European Taxonomy Regulation should further impact investments in green homes in the coming years. The taxonomy spells out detailed technical criteria to identify sustainable activities going beyond energy efficiency. The Home Performance Index stamp of approval provides a robust and nationally tailored green home label, that is aligning with the EU Sustainable Finance Taxonomy.