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On January 25, 2025, Bueno Analytics, in partnership with Optimised, hosted a UK Masterclass event in London to explore how data-driven strategies are shaping the future of commercial building performance and decarbonisation. The event brought together leading experts from across the real estate, sustainability, and technology sectors, providing valuable insights into how landlords, asset managers, and tenants can work together to improve building performance, reduce operational carbon emissions, and enhance asset value.
The session, featuring Robert Cohen (Verco), Pavlos Konstantinidis (CIBSE), and Alex Steel (GRESB), provided key insights into how NABERS UK, GRESB, and CIBSE certification frameworks are evolving to measure and improve building performance.
Discussions focused on:
- How NABERS UK is being integrated into the market and the momentum it has gained.
- The role of GRESB in helping investors benchmark and improve sustainability performance.
- The challenges and opportunities of aligning building certifications to deliver meaningful improvements in energy efficiency and carbon reduction.
This session was designed to educate real estate owners, asset managers, and sustainability professionals on how performance-based benchmarking is replacing outdated compliance models. As the industry moves toward measured, verifiable energy performance, these certification frameworks are becoming essential tools for de-risking assets, securing investment, and future-proofing commercial real estate.
Here are the top findings of the panel session:
1. The Industry is Moving Toward Performance-Based Assessments
One of the most significant shifts in GRESB, NABERS UK, and other certification frameworks is the move away from policy and reporting-based assessments to real-world performance benchmarking.
- Within the Performance Component, which represents 70% of the GRESB Assessment and is increasingly becoming the differentiator in achieving a high sustainability rating for portfolios, GRESB is moving to a greater degree towards a performance-based assessment. In 2025, this includes the recognition of energy efficient assets within the assessment scoring.
- NABERS UK has gained traction as a performance-driven tool within the UK market.
- Investors are no longer satisfied with energy reporting alone—they want to see measurable, data-backed efficiency improvements before making decisions.
Key Quotes:
“We’re moving away from rewarding measurement alone to rewarding action and actual improvements. Simply reporting your numbers isn’t enough anymore—you need to demonstrate meaningful change.” – Alex Steel, GRESB
“GRESB has always been a benchmark, but now we’re making sure it’s a benchmark that drives improvement rather than just ticking ESG compliance boxes.” – Robert Cohen, Verco
2. NABERS UK is Gaining Momentum, but Adoption in Existing Buildings Remains a Challenge
The NABERS UK programme has seen strong uptake in the new-build sector, particularly through Design for Performance agreements. However, the adoption rate among existing buildings remains lower, despite clear advantages in measuring and improving in-use energy performance.
- 150+ NABERS UK Design for Performance agreements are already in place, showing rapid market adoption.
- The challenge remains in getting landlords of existing buildings to engage, as many are still hesitant to undertake NABERS UK assessments due to concerns about low initial ratings.
- Education and industry engagement will be key to overcoming this reluctance.
Key Quotes:
“It’s not surprising that new developments are leading the way—existing buildings present a tougher challenge, but the opportunity is enormous. There’s no reason older buildings can’t achieve strong NABERS UK ratings if owners commit to operational efficiency.” – Pavlos Konstantinidis, CIBSE
“The real estate sector has to realise that measuring performance is the first step in improving it. NABERS UK is the tool that helps us bridge that gap and make energy efficiency a reality in both new and existing buildings.” – Robert Cohen, Verco
3. NABERS UK and GRESB are Aligning to Strengthen Market Integration
GRESB and NABERS UK are working to align their methodologies, allowing NABERS UK performance data to be directly integrated into GRESB assessments. This will make it easier for landlords to use NABERS UK as part of their GRESB sustainability reporting.
- NABERS UK ratings are already recognised in Australian GRESB assessments, and similar integration is being explored in the UK.
- GRESB’s shift toward performance-based scoring aligns well with NABERS UK’s operational energy benchmarking.
- This partnership will help streamline sustainability reporting, reducing the burden on landlords who currently need to report similar data separately to different organisations.
Key Quotes:
“It makes sense for NABERS UK and GRESB to work together—investors want clear, comparable data, and this alignment will provide exactly that.” – Robert Cohen, Verco
“As NABERS UK continues to grow, aligning with GRESB ensures that sustainability benchmarking is both rigorous and consistent across international markets.” – Pavlos Konstantinidis, CIBSE
4. The Role of CIBSE in Administering NABERS UK
CIBSE officially took over administration of NABERS UK on 1st July 2024, marking an important transition that ensures the framework continues to be developed and implemented effectively.
- The shift from BRE to CIBSE was carefully managed to maintain continuity and trust in the NABERS UK system.
- NABERS UK’s expansion has not lost momentum, and over 150 active NABERS UK agreements are now in place.
- CIBSE’s focus is on aligning NABERS UK with UK-specific regulatory and operational challenges, ensuring its continued relevance and impact.
Key Quotes:
“The industry’s trust in NABERS UK is growing, and with CIBSE now at the helm, we can ensure the system continues to evolve to meet the UK’s specific needs.” – Pavlos Konstantinidis, CIBSE
“We were concerned that the transition might slow NABERS UK’s momentum, but instead, we’ve seen even greater engagement. The market understands that performance-based ratings are the future.” – Robert Cohen, Verco
5. Tenant and Landlord Collaboration is Key to Success
A major takeaway from the session was that tenant-controlled energy use is one of the biggest barriers to achieving high NABERS UK ratings. Without tenant buy-in, landlords may struggle to optimise whole-building performance.
- Tenant engagement strategies must be embedded into NABERS UK and GRESB reporting to improve whole-building energy outcomes.
- Energy transparency through metering and data-sharing agreements can help bridge the landlord-tenant gap.
- More landlords are using green lease clauses to align tenant energy use with base-building efficiency targets.
Key Quotes:
“Getting tenants on board isn’t just a nice-to-have—it’s essential. Without their engagement, even the best-designed energy strategies will be less effective and impactful” – Alex Steel, GRESB
“Landlords and tenants have to work together. NABERS UK makes that collaboration easier by providing a clear, shared benchmark for performance expectations.” – Pavlos Konstantinidis, CIBSE
6. The Overlap Between NABERS UK and Net Zero Standards Needs Refinement
While NABERS UK is widely recognised as an effective operational energy benchmark, it is not yet fully integrated into Net Zero Carbon Building Standards—something industry leaders are working to change.
- NABERS UK allows for highly accurate operational energy performance tracking, but it is not yet explicitly recognised in the Net Zero Carbon Building Standard.
- Industry leaders, including CIBSE and Verco, are pushing for stronger alignment between NABERS UK and Net Zero pathways to create a clear, standardised framework for decarbonisation.
- The panel stressed the need for greater clarity on how NABERS UK fits into net-zero commitments, especially as regulations evolve.
Key Quotes:
“NABERS UK is one of the most accurate tools we have for operational energy measurement—so why isn’t it fully embedded in Net Zero Carbon Standards yet? That needs to change.” – Robert Cohen, Verco
“There’s a clear industry push to make NABERS UK a recognised part of Net Zero Carbon commitments. We’re working on aligning these frameworks, but there’s still progress to be made.” – Pavlos Konstantinidis, CIBSE
7. The Market is Becoming Overloaded with Certifications—But Not All Are Equal
GRESB currently recognises over 170 different sustainability certifications worldwide. However, the session highlighted that not all certifications provide meaningful insights into actual building performance.
- GRESB is reassessing certification standards to ensure that only high-quality, performance-driven frameworks receive full recognition.
- NABERS UK is positioned as one of the most robust performance-based certifications, with a clear, verifiable energy efficiency methodology.
- Asset owners need to be selective in choosing certifications that deliver real energy performance value, rather than just ticking compliance boxes.
Key Quotes:
“We’re seeing an increasing number of certifications, but the real question is: do they actually help improve building performance? NABERS UK is one of the few that truly does.” – Robert Cohen, Verco
“GRESB’s role is to separate the certifications that drive real performance improvements from those that are just about reporting. The industry needs a clear benchmark, and we’re working to refine that.” – Alex Steel, GRESB
8. Performance-Based Certifications Will Become Essential for Securing Investment
Institutional investors are shifting away from relying on static ESG reports and instead prioritising real, verifiable energy performance data.
- GRESB scores now place greater emphasis on actual energy and carbon intensity, meaning that asset owners will need to show continuous improvement or achieve higher energy efficiency to remain competitive.
- Any recognised building rating system is becoming a key requirement for accessing green finance.
- Buildings that lack credible performance ratings will struggle to secure funding or refinancing from sustainability-focused investors.
Key Quotes:
“Sustainability-linked investment is no longer just a niche market—if your building lacks a recognised rating, you risk being left behind in the financial landscape.” – Alex Steel, GRESB
“It’s becoming clear that performance-based certifications are not just about compliance; they’re about maintaining asset value in a world where investors demand proof of efficiency.” – Pavlos Konstantinidis, CIBSE
9. NABERS UK Can Serve as a Bridge Between UK and EU Regulatory Requirements
The UK’s approach to building energy performance differs from the EU, but NABERS UK could provide a common standard that aligns with both regulatory frameworks.
- The European Energy Performance of Buildings Directive (EPBD) is pushing for stronger performance-based building assessments, similar to NABERS UK.
- GRESB is also expanding its coverage beyond the UK, making NABERS UK a valuable tool for international benchmarking.
- The industry is seeking clearer guidance on how NABERS UK can help streamline compliance across multiple jurisdictions.
Key Quotes:
“NABERS UK has the potential to align the UK market with European regulations, providing consistency in how we measure and manage building efficiency.” – Robert Cohen, Verco
“With regulatory landscapes evolving, we need a framework that works across multiple markets. NABERS is uniquely positioned to play that role.” – Alex Steel, GRESB
10. The Industry is Entering a New Phase of Accountability
The overarching message from the session was that the industry is moving away from measuring commitments and toward measuring results.
- The combination of GRESB’s performance-based scoring, NABERS UK’s real-world energy assessments, and increasing investor scrutiny means that landlords can no longer rely on policy-based ESG strategies alone.
- Those who fail to integrate performance benchmarking will face growing financial and regulatory risks.
- The panel reinforced the idea that the future of real estate sustainability is about accountability, not just ambition.
Key Quotes:
“We’re entering an era where performance data is what really matters. Investors, tenants, and regulators all want proof, not just promises.” – Pavlos Konstantinidis, CIBSE
“For too long, sustainability has been about policy statements rather than actual impact. That’s changing fast, and those who don’t adapt will be left behind.” – Robert Cohen, Verco
Bueno’s Perspective: Driving Measurable Change in Building Performance
From the perspective of Bueno Analytics, the key takeaway from the discussion was that the transition toward performance-based benchmarking is no longer a future ambition—it is happening now. Hugh Amoyal, CEO of Bueno Analytics, reinforced the importance of moving beyond measurement and into continuous improvement.
- “The industry has spent years learning how to measure energy performance, but now the focus has to be on doing something with that data. We are past the stage where tracking alone is enough—real performance improvements need to follow.” – Hugh Amoyal, Bueno Analytics
- “NABERS UK, GRESB, and other certifications are shifting expectations. It’s no longer about saying ‘we are tracking sustainability’—it’s about proving impact with data-backed results.” – Hugh Amoyal, Bueno Analytics
The panel discussion made it clear that investors, regulators, and tenants are all demanding better performance accountability. Certifications such as NABERS UK are becoming industry benchmarks for operational efficiency, helping buildings not only meet compliance but also attract investment and retain value. This shift is why Bueno Analytics continues to work closely with asset managers, helping them translate data into tangible, ongoing efficiency improvements.
Conclusion: The Future of Performance-Based Benchmarking
This panel session reinforced that the real estate industry is entering a new era of accountability. The discussions covered how performance-driven certifications like NABERS UK, alongside GRESB’s evolving methodology, are setting new expectations for landlords and investors alike.
- Performance-based assessments are replacing outdated compliance models, with NABERS UK and GRESB leading the charge.
- The UK market must embrace operational benchmarking, particularly in existing buildings where adoption has lagged.
- Investor scrutiny is increasing, and those who fail to align with performance-based standards risk losing financing opportunities.
- The industry needs better landlord-tenant collaboration, ensuring that energy efficiency is a shared responsibility.
The message from this panel was clear: measured performance is now the foundation of sustainability in commercial real estate. Those who integrate real-time data, adopt NABERS UK, and align with GRESB’s evolving benchmarks will be the leaders of the next generation of sustainable property management.
With NABERS UK gaining traction and investor demands evolving, the opportunity is now. The future of commercial real estate belongs to those who can prove—not just promise—measurable energy efficiency.
