TD Asset Management Inc. ("TDAM") recently received the results of its 2022 submissions to the Global Real Estate Sustainability Benchmark ("GRESB") Real Estate and Infrastructure Assessments.

GRESB is an organization that collects, validates, scores and benchmarks Environmental, Social and Governance ("ESG") data. A member-based organization, GRESB is used by 170 institutional investors and more than 2,200 fund managers, companies and asset operators.

In 2022, more than 1,500 property companies, Real Estate Investment Trusts, funds and developers worldwide participated in the Real Estate Assessment, representing over $5 trillion in assets under management. Participation in the Infrastructure Fund Assessment increased 11% to cover 165 funds and participation in the Infrastructure Asset Assessment increased 17% to cover 688 assets.

The TD Greystone Canadian Real Estate Strategy improved its GRESB score by seven points – 80 out of 100 for 2022, up from 73 in 2021 – and it achieved its seventh consecutive Green Star ranking and its first GRESB 4-star rating. A Green Star is obtained if you score over 50 points out of 100, and the 1-5-star rating is based on quintiles. The highest rating is a 5-star rating. The GRESB Real Estate Assessment placed TDAM among the top 34% of submissions in the global Diversified/Non-Listed/Core category (of 259 submissions).

The TD Greystone Infrastructure Fund (Global Master) L.P. improved its score by two points in 2022 – 87 out of 100, up from 85 in 2021 - and achieved its fourth consecutive Green Star ranking. The TD Greystone Infrastructure Fund scored above the GRESB Global Average and in line with its Peer Group (Diversified/Private/Non-Listed/Global) average.

“The infrastructure industry continues to make significant progress in its approach to ESG, with GRESB participation growing year over year. We are proud to see the industry deepen its commitment to ESG transparency and continue improving overall performance.” – Sebastien Roussotte, CEO of GRESB

GRESB Real Estate Assessment Results in Focus

In terms of score improvement, the TD Greystone Canadian Real Estate Strategy saw increases in both its Standing Investment and Development assessments, which are the two components of the GRESB scoring system for asset managers that invest in standing (existing) real estate and developed (newly constructed, significantly renovated) real estate.

The increase in scores for both the Standing Investment and Development assessments were related to higher tenant and community engagement, more fulsome diversity and inclusion reporting, and enhanced ESG-focused supply chain practices. For the Standing Investment portfolio, score improvement can be attributed to better energy and greenhouse gas emission data coverage, enhanced green building and health and wellness certification rates, increased energy ratings platform coverage, and energy reductions across most property types.

GRESB Infrastructure Assessment Results in Focus

The TD Greystone Infrastructure Fund (Global Master) L.P. saw increases in both its Management and Performance Component scores for its 2022 submission and scored above the Global GRESB average in each of these core components.

The increase in the score was related to score improvements of select assets within the TD Greystone Infrastructure Fund (Global Master) L.P., with five of the six of the TD Greystone Infrastructure Fund (Global Master) L.P.'s assets scoring at or above the GRESB global average. The score was also bolstered by TDAM applying enhanced Risk Management practices, particularly related to assessing and managing ESG risks and opportunities in investment monitoring processes and asset management.