Leading European players join forces in green alliance

Twenty leading European property companies are joining forces in the International Sustainability Alliance (ISA), aimed at creating the world’s biggest environmental property database. Jaap Gillis, Co-Chair of ISA and Chief Operating Officer of Redevco said ISA already represents a growing proportion of Europe's commercial real estate players, operating or occupying around 150 million m² of floor space, with a capital value in excess of EUR 150 mln.

'This is the start of a benchmarking process that will be immensely powerful for ISA members and the real estate sector as a whole,’ he said. ISA members include some of Europe’s leading real estate occupiers, investors, developers and owners such as Alstria Office REIT, giant pension fund APG, Barclays Bank, Befimmo, energy group EDF, ING REIM, Redevco and Standard Chartered Bank. The participation of such a large number of prominent real estate players is one of the most important developments at this year's EXPO REAL fair.

The first database results show that green buildings command higher rents and represent more value than conventional properties. In the UK, for example, ISA members’green buildings generate GBP 35 more on average per square metre than less sustainable buildings.

ISA provides an analysis on a pan-European basis with more specific preliminary metrics published initially for seven countries and two sectors - offices and retail - based on an initial sample of member data. ‘More countries, sectors and sub-sectors will be added as ISA develops its membership and benchmarking activity’, said John Pike, Co-Chair of ISA.