Matthew Tippett, Director
EMEA Upstream Sustainability Services
I was on the panel for a session entitled “Commercial Property - shape the debate – engagement, value and risk” at the conference BASE London on Thursday 21 June. The interactive session included delegate voting – where it emerged that 75% thought that building owners had the prime responsibility for engagement and co-ordination between owner-occupier for actions to increase sustainability. However, only 19% believe that UK legislation and regulation has helped to foster the relationship between owner and occupier.
Since 83% think there is a link between sustainability performance and asset value (albeit perhaps as a non-green discount rather than a green premium) there are clearly risks, and opportunities, in how real estate companies approach sustainability. Obsolescence emerged as a key idea amongst the delegates and panel to focus sustainability strategies. Obsolescence is an everyday term understood and used by all property professionals (even sustainability sceptics) and even widens time horizons beyond the next quarter.