The importance of sustainability in commercial property has grown sharply during the last 12 months according to a survey by Cushman & Wakefield. In 2012, 96% of respondents had implemented a sustainability policy, compared to 40% in 2011. Over three quarters consider poor sustainability credentials a factor in disposal, the survey found.
The importance of sustainability in commercial property has grown sharply during the last 12 months according to a survey by Cushman & Wakefield. In 2012, 96% of respondents had implemented a sustainability policy, compared to 40% in 2011. Over three quarters consider poor sustainability credentials a factor in disposal, the survey found.
The findings are based on a poll of of top managing directors and senior fund managers from 28 European real estate investors in the UK and continental Europe. About 90% of investors and fund managers interviewed have processes in place to evaluate new acquisitions in terms of sustainability while 81% are seeing occupiers demanding more sustainable space.
Additionally, two-thirds of respondents are now reporting one or more funds under the Global Real Estate Sustainability Benchmark, the survey found. It also registered a 50% increase in the number of investors and fund managers polled implementing minimum performance standards for their portfolios compared to last year.
Commenting on the report, Andries van der Walt, Head of Sustainability EMEA at Cushman & Wakefield, said it shows clear evidence of sustainability climbing up the agenda of investors and fund managers over the last 12 months. 'We believe the continued ability to attract investment and meet investor requirements for sustainability performance and reporting is the most significant reason for the momentum gained. Those European investors and fund managers who do not currently set minimum performance standards for investments need to start doing so to better mitigate against risk.'
