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All Aboard: Sustainability Has Become a Competitive Requirement
Sustainability is changing real estate investment. Ignoring or underinvesting in sustainability today can drive away tenants, investors, employees and customers; increase operating costs; and expose properties to regulatory risk, resulting in potential business-altering risk of functional and economic obsolescence.
There is substantial evidence of the breadth and depth of demand for sustainable properties by occupants. Scores of surveys of corporate executives and tenants express that sustainability is a critical part of their real estate decision making. Survey evidence is supported by corporate real estate service providers and tenant rep brokers who report that RFPs for new space by occupants nearly always address energy and sustainability requirements, whereas as recently as a few years ago less than 30 percent required such information. Government tenants, companies involved in the sustainability/building sector, Fortune 2,000 companies, and many other sectors have subst