Name: The Plinthos Disclosure Quality Index
Creator: Plinthos
License: https://plinthos.io/dqi#methodology

What the DQI measures

Scoring disclosure, not performance

Most ESG indices score what companies do. The Plinthos DQI scores what they say — and whether what they say gives investors the data they need to make decisions.

GRESB scores

Performance

Operational outcomes, targets met, certification status.

MSCI rates

ESG Risk

Exposure to material ESG risks relative to industry peers.

Plinthos DQI scores

Disclosure Quality

Completeness, specificity, comparability, and decision-usefulness of what a company publishes.

A fund with strong carbon performance but poor disclosure loses GRESB points, fails LP due diligence, and struggles to access green finance. The 53-point gap in the 2025 baseline shows this is systemic — not an outlier problem.

Quality tiers

Five levels of disclosure maturity

Each company in the 2025 baseline is assigned a DQI grade based on their overall score. Grades reflect the decision-usefulness of disclosure, not the quality of ESG operations.

Grade

Tier & description

Score range

Sector Leader

Investor-grade disclosure across all pillars. Multi-framework aligned, SBTi validated, 30+ externally assured metrics. SLL-ready KPI presentation.

95–120

Advanced

Strong disclosure with minor gaps. Full ESG pillar coverage, external assurance on key metrics, GRESB 4–5 star aligned.

80–94

Developing

Meets basic requirements but significant gaps in depth or coverage. Scope 1–3 reported, EPRA/GRI aligned, limited or no assurance.

65–79

Foundation

Minimal disclosure. Primarily qualitative, limited comparability. Absolute emissions only, single framework.

50–64

Pre-Disclosure

Material gaps across multiple pillars. Narrative-only with no baselines, no framework alignment. Not usable for institutional due diligence.

Below 50

Scoring methodology

A 120-point framework across six dimensions

Every company in the 2025 baseline is scored by primary analysis of its published sustainability report, annual report, and publicly available ESG data.

120

Total points available across three ESG pillars and three cross-cutting dimensions. Scores are derived from empirical analysis of what best-in-class disclosure actually looks like — not from a theoretical checklist.

Environmental (E1–E4)

Emissions data completeness & intensity metrics
Climate targets & CRREM pathway alignment
EPC & BREEAM certification coverage
Net Zero pathway specificity

Social (S1–S4)

Workforce metrics & health and safety data
Community investment quantification
DEI data specificity and comparability
Supply chain engagement

Governance (G1–G5)

ESG governance structure & board accountability
Remuneration linkage to ESG KPIs
Stakeholder engagement disclosure
Ethics & whistleblowing framework

Data Quality (DQ1–DQ3)

Third-party assurance scope
Coverage methodology & boundary definitions
Data collection & restatement policy

Framework Alignment (RC1–RC2)

EPRA sBPR, TCFD, GRI, SASB alignment
SFDR, SBTi, UN SDG integration
Cross-framework consistency

Benchmarking & Context (BC1–BC3)

Peer comparison & sector positioning
Historical trend analysis
GRESB performance context

The framework is calibrated against a seven-year maturity analysis of the UK sector's highest-rated REIT reporter, producing a benchmark anchored in observed best practice rather than theoretical standards.

2025 baseline findings

What the data shows

The 2025 baseline is the first systematic scoring of disclosure quality across the full UK listed real estate sector. The findings are consistent across subsectors and property types.

01 The 53-point gap is systemic. The quality difference between the sector's best and worst disclosers is not explained by portfolio size, GRESB participation, or asset quality. Disclosure quality is primarily a function of internal infrastructure and disclosure architecture — both correctable.
02 Industrial/logistics REITs score highest. Driven by strong GRESB participation, investor pressure on net zero pathways, and earlier adoption of intensity metrics. The sector sets the practical benchmark for what "good" looks like.
03 Residential and healthcare show the highest variance. Sector-leading reporters coexist with pre-disclosure companies within the same subsector. The spread is wider than in any other property type.
04 The median sits at DQI Grade C (Developing). Most companies report Scope 1–3 emissions and are aligned to at least one framework, but significant gaps remain in data assurance and pillar completeness — the fields that LP due diligence questionnaires now require.
05 The disclosure gap is not primarily a data collection problem. Most companies below DQI Grade B have the underlying ESG data. What they lack is the analytical and narrative infrastructure to translate it into investor-readable disclosure. This is the last-mile translation problem the Plinthos platform addresses.

About the index

Publication, methodology, and access

Publication rhythm

Annual. 2025 baseline published Q3 2026. Annual refresh from Q1 2027, scored against each company's most recently published sustainability report.

What is published

Aggregate findings, sector distributions, tier breakdowns, and year-on-year trends. Individual company scores are kept private and shared only on request.

Research anchor

The Plinthos DQI is an independent research publication by Dr. Yishuang Xu, University of Manchester. The 120-point framework is derived from empirical analysis of 136 UK REIT sustainability reports.

The detailed 120-point scoring rubric is proprietary. Methodology notes sufficient to assess the framework's validity are available on request to researchers and institutional investors.