Getting to grips with sustainable innovation seen through the lens of embedding energy performance upgrades into maintenance planning resulting in operational efficiency. This not only helps future proof the asset but may also result in green premiums with the resulting impact on valuations. Taking this to the next level includes a new approach to tenant engagement. The environmental and business cases are compelling and interlinked.
Building tenant engagement into a costed portfolio decarbonisation plan
THE BUSINESS CASE FOR SUSTAINABLE INNOVATION
We are all well versed in environmental, social and governance (ESG) by now and it offers no end of jargon and acronyms to keep conference organisers and their attendees busy. Let’s assume that the S and G are largely taken care of under existing CSR and compliance functions and focus on the E.
The E for environmental also stands for energy and efficiency. This focus on EEE, we might mischievously call E3, is also the nuts and bolts of a net zero pathway which is the overarching ambition set out in occupier corporate sustainability targets. This is all encapsulated in organisations including the Net Zero Asset Managers Alliance, the Net Zero Asset Owner Alliance, the Net Zero Banking Alliance, the Climate Neutral Data Centre Pact, the Net Zero Lawyers Alliance and others which bring asset owners, manager and occupiers into the E3 fold. This is increasingly important with looming net zero target dates. Tenants with a 2030 net zero target only have time for one more office relocation to establish the lowest operational carbon footprint they can. This takes on even more importance in Asia Pacific where renewable energy tariffs are so few.