GRESB, the global ESG benchmark for infrastructure and real estate investments, has acquired Asset Resolution, an asset-based climate data and analytics provider for financial institutions.
Terms of the deal were not disclosed.
The acquisition is expected to expand GRESB’s asset-level data coverage, strengthening its assessments and tools.
Asset Resolution’s customers, which include a raft of global banks and consultancies, are likely to benefit from the operational, technical and client support provided by GRESB.
The business support provided by GRESB will also help enable the Asset Resolution team to further engage with external research groups and accelerate product development in support of its mission.
The team will also benefit from GRESB’s technical expertise in real estate, infrastructure, ESG assessments and disclosures, sales and marketing.
'This partnership is about strengthening the value and product offerings both organisations provide,' said Sebastien Roussotte, CEO of GRESB.
'We provide complementary services and share a common mission to equip financial institutions with the tools and insights needed to drive progress towards a more sustainable world. Combining our skill sets and teams means better data and more useful insights for our members and customers.'
Noémie Klein, CEO of Asset Resolution, added: 'This partnership represents an important step toward implementing our vision of a financial system that sets the global economy on a net-zero emissions path.
'Together with GRESB, we’ll go further in harnessing the power of our asset-based approach to develop new data and analytics that support climate action by financial institutions.'
Asset Resolution was originally created by, and spun out of, the 2° Investing Initiative France to help financial institutions access the right science-based asset-level data and finally drive progress towards a net-zero future.
'When looking at acquisition partners to support the continued growth of the Asset Resolution team, we were focused on how we could enable the most impact,' said Robin Edme, president of the 2° Investing Initiative France board.
'GRESB’s mission and focus on sustainability was a natural fit, and we look forward to seeing how both teams will complement each other’s work in the years to come.'
As part of the acquisition, the Asset Resolution team will continue working from offices in Paris and Berlin under the new name 'Asset Impact'.
Building-level data from GRESB members will not be shared with, or included in, Asset Impact’s suite of products, but the combined teams will collaborate on ways to leverage each other’s complementary expertise.