GRESB, the environmental, social and governance (ESG) benchmark for real assets, has recognised CAF building certification as having met the GRESB standards for a valid operational building certification.
GRESB assesses and benchmarks the ESG performance of real assets globally, providing standardised and validated data to the capital markets.
GRESB’s validation of CAF building certification recognises CAF as a best practice supply chain assurance mechanism for outsourced cleaning services.
CAF is an independent, multi-stakeholder initiative that seeks to improve labour and cleaning standards in Australia. CAF has developed a voluntary certification scheme that assesses labour rights compliance at building
Achieving CAF 3 Star Certification will help portfolios improve their GRESB performance through both building certification recognition and stakeholder engagement practices.
Building certifications account for 10.5 per cent of the total GRESB Real Estate Score and CAF certifications can now be included as part of responding to the GRESB Assessment.
CAF building certification involves the independent assessment of a building’s cleaning supply chain against its rigorously designed and tested CAF Star Standard.
Through the assessment process, labour standards for cleaners are reviewed and implemented, providing a mechanism to identify and mitigate risk of exploitation and modern slavery for the cleaning workforce, which is made up of vulnerable workers.
Poonam Datar CEO of CAF, said the CAF certification at the asset level gives assurance to investors, building owners and their tenants that cleaning services are being procured and managed sustainably in a manner that places respect for cleaner’s labour rights at the forefront.
“With the recognition of CAF building certification by GRESB, the case for CAF Certification is even stronger, and will encourage asset owners to obtain the high level of supply chain assurance that CAF offers across their portfolios.”
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