by Brianna Crandall — November 14, 2014—Cushman & Wakefield recently issued its latest Occupier Survey report, which identifies how being sustainable impacts corporate real estate (CRE) policies. “There can be no doubt that a discussion about corporate social responsibility (CSR) takes place with almost every occupancy decision made today,” said Eric Duchon, sustainability strategies director at Cushman & Wakefield.
In its latest client survey, global commercial real estate services firm Cushman & Wakefield conducted in-depth interviews with 27 real estate and sustainability directors at 23 leading U.S.-based corporations occupying 690 million square feet of space to determine how being sustainable impacts their corporate real estate (CRE) policies. The responses provide insight into how CRE approaches sustainability and the effect it is having on real estate trends.
The results of the survey are grouped around four themes:
- Sustainability’s influence on the corporation: Corporations remain intensely focused on sustainability and CSR. A full 91% of respondents report that shareholders are pressuring then about their approach to sustainability. Energy usage has the most impact, with 63% reporting that it is the primary driver of their sustainability efforts.
- The impact of sustainability on CRE policy: More progressive CRE organizations are leading the sustainability charge within their companies. Almost all (95%) respondents have or are planning a sustainability policy that governs CRE, and 65% evaluate the sustainability of new sites. To increase transparency, 100% of respondents report to CDP, formerly known as the Carbon Disclosure Project, a global organization that works with shareholders to measure and reduce greenhouse gas emissions.
- Sustainability’s impact on leasing: Interest in sustainability is strongest in prime markets and “gateway cities,” where employees place a greater emphasis on the corporation’s approach to CSR. Most lease negotiations involving large corporate occupiers involve a discussion around sustainability and CSR obligations. A full 74% of respondents indicated sustainable buildings have a value differential resulting in reduced occupancy and operation costs. However, only 39% are willing to pay a sustainability premium.
- The occupier and owner viewpoint: Occupiers and owners appear to be facing similar challenges. Demand for sustainable properties from stakeholders on both is strong, leading to the development of internal policies to address sustainability in their organizations.
U.S. Occupier Survey: The Corporate View of Sustainability is available from the C&W Web site.
