GRESB: Integration of Sustainability in Commercial Real Estate
ByAround the world, sustainability is becoming an increasing focus in the commercial real estate (CRE) space. Just this year, the UN released Transforming Our World, a roadmap for sustainable development which identifies 17 major goals to be achieved by 2030. These goals describe calls to action that focus on the need to improve efforts in development in economic, social and environmental areas, and include a significant emphasis on sustainability as an important component of development.
Market forces increasingly reward investments in the sustainable development and operation of buildings. Many studies, such as a report put out by Cleveland State University last year, show that optimizing the energy efficiency of an asset improves property values. Tenants are demanding energy efficient buildings that include green building features, such as higher quality lighting and improved indoor air quality. We’re seeing that tenants are increasingly willing to pay a premium for these green building attributes. In addition, there is a growing number of local and national regulations that require the benchmarking and disclosure if commercial buildings’ energy usage prior to selling, leasing, or financing. As a result, certifications that recognize a building’s energy performance, such as LEED and Energy Star, are increasingly valued by many investors, tenants and lenders alike…
GRESB: Integration of Sustainability in Commercial Real Estate
