Benchmarking based on the Global Real Estate Sustainability Benchmark (GRESB) gives the Residential Fund greater insight into the opportunities to improve its sustainability performance at fund level. In 2016, the Fund participated for the fifth time in the GRESB and was awarded Green Star status for the third year in a row. The overall score remained stable at 66, and the Funds' peer group ranking dropped slightly to position 6th out of 10. We developed and implemented an action plan to further improve the overall score to achieve our target of outperforming our peer group in 2017.