ESG SDDS Wiring-Guide

Use the total supply floor area for all assets included within the selected reporting boundary. For the purposes of this indicator, total supply floor area should be based on Gross Floor Area (GFA), subject to the alternative derivation methods below where measured GFA is unavailable. Clearly state the floor area definition applied and use it consistently across the portfolio.

For the purposes of calculating the ESG KPIs within the ESG SDDS, GFA should be followed. This includes common areas and technical spaces that form part of the building and excludes indoor and outdoor parking.

Commonly used frameworks apply slightly different conventions:

- GRESB and SBTi typically refer to GFA;
- CRREM recommends Gross Internal Area (GIA), based on IPMS 2:
• Residential: The sum of the areas of each floor level of a building measured to the Internal Dominant Face, which may be reported on a Component-by-Component basis for each floor of a Building;
• Office: The sum of the areas of each floor level of an office building measured to the Internal Dominant Face and reported on a Component-by-Component basis for each floor of a Building.

When measured GFA is unavailable, reporters may apply the following approaches and disclose the method used:

1. GFA estimated from NLA:
Estimated GFA derived from Net Lettable Area (NLA) using a documented sector-specific conversion factor. For example, GRESB provides Common Area / Total Floor Area ratios by property type in Appendix 5 of the 2025 Reference Guide. Where a conversion factor or conversion table is used, reporters should disclose the estimation method, source of the conversion ratio and applicable property type.

2. GFA derived from GIA, GLA or other floor area metrics:
GFA may be derived from Gross Internal Area (GIA), Gross Lettable Area (GLA) or other floor area metrics only where a reliable and documented conversion factor or conversion basis is available and appropriate to the relevant property type and geography. The conversion may be based on documented sources, including surveyor-derived information or asset-specific information, such as measurement reports, as-built drawings or other documented property measurements. Where a conversion factor or conversion table is used, reporters should disclose the estimation method, source of the conversion ratio, applicable geography and property type.

Where measured GFA is unavailable, reporters may also refer to existing building documentation, including insurance reinstatement or replacement cost assessments, which may contain relevant floor area measurements.

Where a building contains large technical or service areas with minimal energy consumption, such as shopping centre service corridors, reporters should assess whether including those areas would materially dilute the reported EUI. Where such areas are excluded, reporters should disclose the affected floor area, the reason for the exclusion and any material assumptions.

For acquisitions and disposals, the ownership-period approach should be followed, as it provides the most complete representation of performance generated by the vehicle during the reporting period.

1. Ownership-period approach:
Include acquisitions and disposals and weight the floor area and corresponding performance data by the proportion of the reporting period for which each asset was held. For example, where an asset is held for three months of a 12-month reporting period, 3/12 of its floor area should be included in the denominator, together with the energy or emissions reported for the same three-month period.

Where this approach is not practicable, or where another reporting objective applies, reporters may consider one of the alternative approaches below:

2. Year-end approach:
Include assets held at the end of the reporting period. Acquisitions should be included only for the period held, while disposals completed before the end of the reporting period should be excluded. This approach provides a view of the portfolio held at the reporting date rather than the complete performance generated by the vehicle during the year.

3. Full-period assets only:
Include only assets held for the entire reporting period, excluding acquisitions and disposals. This approach may be appropriate for like-for-like or stable-portfolio analysis but does not represent the complete portfolio performance for the period.

Reporters should disclose the methodology used, the rationale for its selection and any material assumptions in the comments box. Where the ownership-period approach is applied, the basis of any weighting should also be disclosed. Other methodologies may be used where appropriate to the reporting objective, provided that they are clearly documented and applied consistently. Where the reported information is subject to external assurance, reporters should consider discussing the methodology with their auditor or assurance provider.

Where relevant, reporters should also disclose the number of assets held during the reporting period, at year-end and for the full reporting period, to help explain differences in portfolio coverage.

The selected approach should be applied consistently to reported floor area and to the corresponding energy, emissions and other performance data, including absolute totals, coverage metrics and intensity calculations, so that the numerator and denominator reflect the same reporting boundary and reporting period.