CLIMATE & CARBON
13
ENERGY DATA MANAGEMENT
CLIMATE RISK & RESILIENCY
Our enhanced energy data management platforms enable informed decision-making, facilitate performance improvement, and drive accountability across our global portfolio. Preferred Energy Data Management Platform: Following a comprehensive market assessment in 2024, Greystar selected a real estate specific energy data platform, as our preferred solution across our international operations. This decision builds upon our successful experience using the platform for our European and UK assets, while expanding coverage to our APAC portfolio. This consolidation of our international energy data management will provide enhanced visibility and analytical capabilities across our global portfolio. GreenStar: In the US, we developed GreenStar, a new energy analytics and benchmarking system that has enhanced how we measure operational efficiency across energy, water, waste, carbon, and community engagement metrics. The platform was built to address a critical challenge in our industry and a pain point felt by our property management teams: the lack of comprehensive, real-time sustainability performance tracking across utility providers. Through strategic API integrations and collaboration with our technology team, we’ve created a dynamic dashboard that monitors over 1,400 communities. Each investment client has secure, customized access to view their specific portfolio’s performance, allowing them to track sustainability metrics across their assets in real time. The system enables both property-level analysis and portfolio-wide benchmarking, giving clients visibility into how individual properties compare against their broader portfolio and similar properties within the Greystar ecosystem. GreenStar’s scoring methodology was developed to provide a more timely, relevant, and accurate benchmark than traditional systems, with scoring accounting for location and building type and leveraging Greystar’s scale to provide meaningful peer-to-peer comparisons.
Risk Assessments: Climate risk mitigation is core to our environmental strategy given the physical and transition climate risks faced by the real estate industry. Greystar annually conducts desktop physical climate risk assessment updates for all our owned assets to better understand shifting climate impacts. In 2024, we expanded these desktop reviews with on-site assessments of existing assets and certain target acquisitions. These assessments review building features such as locations of entrances as well as geographical insights like topography and evidence of high-risk weather events to build a detailed property risk profile. These granular details, coupled with desktop reviews, provide our teams with a more complete risk profile. We plan to expand these in-person assessments across more assets with the goal of implementing identified physical improvements to reduce risk. Risk Management Team: Our Risk Management and Operational Risk teams play an integral role in our climate risk and resiliency program. These teams maintain oversight of our sophisticated risk management infrastructure, which includes developing our new emergency response playbook, monitoring significant weather events such as wildfires in the US and leading our regional Master Insurance Programs across the US, Europe, and APAC regions. Climate Report: In tandem with this report, Greystar is launching our first Taskforce for Climate Related Financial Disclosures (TCFD) aligned climate report. This report provides additional details into our climate program with a focus on governance, risk identification and mitigation, value creation, and climate data.
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