What the 2026 GRESB Updates Mean: Our Observations on the Key Shifts

Change is on the horizon. The 2026 GRESB Real Estate Standard marks a decisive move toward measurable, performance-based climate action. Rather than incremental adjustments, these updates focus attention on the issues that most directly shape long-term value and resilience. GRESB is moving beyond foundational ESG reporting to emphasize accountability for the outcomes that matter most.

Here are the four key changes that stand out to us in the 2026 submission:

1. Embodied Carbon Takes Center Stage

The most significant change is the full scoring of embodied carbon, the emissions tied to a building’s materials and construction process. Until now, the focus has largely been on operational energy. By introducing a new five-point indicator for embodied carbon in the Development component, GRESB is expanding the lens to capture the entire life-cycle impact of assets.

There is also an unscored embodied carbon indicator for Standing Investments that asks whether entities perform asset-level risk assessments for new acquisitions. Although it is not yet scored, its inclusion signals where the standard is headed. Developers and owners will need to consider carbon impacts from design through construction if they intend to lead.

2. Net-Zero Targets: More Credible and Accountable

GRESB continues to refine how net-zero commitments are evaluated. The latest updates prioritize transparency and alignment with recognized global climate pathways.

More importantly, reporting is moving from aspiration to asset-level accountability: participants must now identify which assets within their portfolio are covered by their entity-level net-zero targets. This level of detail allows investors to assess how credible and comprehensive a firm’s climate transition plan really is.

3. Climate Risk Scoring Carries More Weight

GRESB has streamlined its scoring for some foundational risk management indicators while doubling down on climate-related risk. The scoring weight for the main climate risk management indicators has doubled from 2 points to 4 points. The reallocation underscores the material importance of addressing climate threats to long-term asset value.

The 2026 update introduces a more technically robust foundation for assessing both transitional and physical risks (RM5). GRESB has adopted the latest from the Network for Greening the Financial System (NGFS) and will phase out the CRREM 2∘C scenario. The move ensures that participants are using the most current and scientifically supported models to understand their exposure.

Conservice clients can take this further through our Climate Risk Dashboard, powered by Munich Re. The dashboard allows users to view portfolio-level exposure to floods, storms, wildfires, and other natural hazards, compare properties across geographies, and model climate scenarios over different time horizons. These insights help clients manage the same risks GRESB now prioritizes, using real data instead of assumptions.

4. Green Lease Strengthen Landlord-Resident Collaboration

Achieving performance goals is impossible without engaging the people who occupy the buildings. The 2026 Standard increases the focus on genuine collaboration, emphasizing that the “green lease” is the key to unlocking operational performance.

The scoring weight for key tenant engagement indicators-including green leases and fit-out or refurbishment programs-has increased, from 1.5 points to 2.5 points each. Landlords will now need active partnerships with tenants to meet data-sharing, metering, and efficiency goals. Additionally, emissions from landlord-controlled tenant spaces are now classified under Scopes 1 and 2 instead of Scope 3, aligning with the GHG Protocol. This simplifies reporting and reinforces the need for direct action where owners have control.

Streamlining Without Losing Focus

GRESB has retired a few lower-impact management indicators, such as LE3 (individuals responsible for ESG) and SE2.2 (employee engagement programs). Those points have been reallocated to areas with greater potential for measurable climate performance, such as embodied carbon and net-zero outcomes.

If you would like a refresher on how things evolved in the 2025 update, check out our earlier post: What’s New in the GRESB 2025 Portal. That piece helps frame how this year’s changes build on last year’s enhancements and reinforce where trends are heading.

The Bigger Picture

The 2026 GRESB updates are a push forward in how the real estate industry measures and manages climate accountability across the entire asset life cycle. It’s a move from policy to performance, from the materials used in construction to the robust financial scenarios used for risk management. The message is simple: long-term real-estate value depends on climate performance and resilience.Our ESG specialists work directly with clients to interpret new GRESB requirements, align data collection, and strengthen overall sustainability reporting. Contact us to start a conversation about preparing your portfolio for the 2026 GRESB Standard. Connect with a Sustainability Expert