Real Estate Journal — Green Buildings — September 25 - October 15, 2015 — 27B
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Report shows REITs/private equity real estate funds embracing sustainability practices North American Commercial Real Estate Sector improves sustainability performance
ORTH AMERICA — GRESB , the global standard for portfolio- level sustainability assessment in the real estate sector, re- leased its 2015 data and indus- try report. The data and report are based on an assessment of 707 property companies and private equity real estate funds, representing 61,000 assets and USD 2.3 trillion in asset value. The report pro- vides new insights regarding the energy and sustainability performance of the global real estate industry, documenting a 3% reduction in greenhouse emissions in 2014, a 50% in- crease in on-site renewable energy generation, and a 19% improvement in overall ESG performance. The global property industry is at the heart of critical global issues that include resource constraints, climate change, and urbanization. There is strong evidence that more sustainably designed and op- erated buildings can provide solutions to these challenging issues, while also creating value for real estate investors and shareholders. The 2015 GRESB Report provides new data showing that the global real estate sector is increasingly integrat- ing environmental, social and governance considerations into corporate policies and business strategy. Critically, the data also shows that policy and strategy are backed by actual implementation of energy and N SAN FRANCISCO, CA — The Urban Land Institute , a global research and education institute focused on responsible land use and creating thriving communities announced ULI’s 2015 Fall Meeting, set for Octo- ber 5-8 at the Moscone Center in San Francisco. Headlining the event are keynote speak- ers Condoleezza Rice, former U.S. Secretary of State; Brian Chesky, CEOand co-Founder of Airbnb; JohnStumpf, chairman, president and CEO of Wells Fargo & Company; and Califor- nia Governor Jerry Brown. ULI’s annual fall meeting typically draws 6,500 to 7,000 of the world’s foremost real estate experts, all of whom convene to exchange ideas and insights on the “next new thing” for the industry. n ULI announces 2015 fall meeting
water efficiency programs, and demonstrable improvements in sustainability performance. Report Highlights: • More property companies and funds report on sustain- ability: 707 companies and funds, representing USD 2.3 trillion and 61,000 assets; • Better environmental per- formance: on average, the sector achieved a 3.04% reduc- tion in GHG emissions, 2.87% reduction in energy consump- tion, and a 1.65% reduction in water use; •Growth in renewables: on- site renewable energy genera-
are taking action to address cli- mate risk and resilience. 88% of participants reported having sustainability policies and a growing fraction of these poli- cies include specific provisions addressing climate risk (36%) and resilience (26%).Severe and prolonged drought across western North America has also brought attention to the importance of water conserva- tion and sustainable water sup- ply management. 86% of North American property companies and funds implemented water efficiency improvements for standing investments within
the last four years. “The 2015 GRESB Report and data show that the global property industry is taking sustainability issues seriously, making them a core part of business strategies. In North America, this is reflected in portfolio-wide efforts to save energy, conserve water, and enhance resilience. The recent gains across the commercial real estate sector are impres- sive, yet in absolute terms, the sector’s environmental impact remains significant and more work remains to be done,” said Chris Pyke , COO of GRESB. n
tion of 445GWh, an increase from 296GWh in 2014 North American REITs and private equity funds slightly trailed the global market, with an average sustainability score of 44 compared to the global GRESB average of 46. With North America facing a long- term challenge in preparing for changing climate condi- tions, there is an acute need to understand and manage climate-related risks to indi- vidual properties and entire portfolios. The 2015 GRESB results indicate that the North American companies and funds
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