eres2010_217_pres_El lison_SUSTAINABILITY _METRI

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Slide 1: 

Sustainability Metrics for Commercial Real Estate Assets – Establishing a Common Approach Louise Ellison – Investment Property Forum Patrick Brown – British Property Federation European Real Estate Society Conference Milan, June 2010

Introduction : 

Introduction Aims Property Industry Alliance/Green Property Alliance Current position Methodology Data Recommendations Conclusions

Aims of the work : 

Aims of the work Develop a common framework for measuring and reporting sustainability for property assets Informed by investors, owners and occupiers Focus at the building level Existing tools are the starting point To support the industry response to sustainability

Who/what is the Green Property Alliance : 

Who/what is the Green Property Alliance Property Industry Alliance IPF, RICS, BCO, BPF, BCSC Umbrella organisation that enables the organisations to work together on specific issues Green Property Alliance Sub-group of the PIA focusing on sustainability Broader membership – CoreNet, UKGBC, BRC Plus industry – PRUPIM, Hammerson, Drivers Jonas, GVA Grimley, Gardner & Theobald, JLL. Aims to ensure cross-industry communication

Context : 

Context Many benchmarking systems established Little consistency in metrics No coherent set of data developed Limited ability to compare performance Deters businesses from starting to collect data Weakens industry response to the sustainability agenda

Current Position : 

Current Position property investors increasingly alert to sustainability as a risk issue and taking steps to monitor it within their portfolios Sustainability benchmarking systems and tools are widely available but measure sustainability using a range of different variables and metrics Existing policy interventions have been disappointing in their ability to make sustainability data more widely available Data is increasingly required for environmental and climate change regulation but is not commonly available in a consistent, analysable format Examples of good practice amongst developers, investors, fund managers

Methodology : 

Methodology Key sustainability factors identified from previous research Energy Water Waste Carbon Normalisation factors for each Limited to UK largely No social factors

Methodology : 

Methodology Focus on existing benchmarking systems and company reports Desk study 13 benchmarking tools 11 Company reports Physical characteristics What was reported Metrics used for carbon, energy, water and waste Produced a list of common metrics Industry workshop to review

Data – Building characteristics : 

Data – Building characteristics Little overlap No data on occupancy levels No clear data on building classification

Data - energy : 

Data - energy All the tools and majority of reports capture the data kWh is the most commonly used metric Energy here refers to that used within the operation of the building

Data – renewable energy : 

Data – renewable energy Captured by majority of tools and reports kWh again used by the majority

Data - Water : 

Data - Water Routinely collected data Most using M3 Common position should be achievable

Data – Water recycling : 

Data – Water recycling Less commonly captured for company reports M3 the common metric % of total usage important

Data - Waste : 

Data - Waste Commonly reported Little consistency in reporting format Issues arose regarding origination of waste and accountability

Data – waste recycling : 

Data – waste recycling Wide range of metrics used Issue of origination is again key

Data - Carbon : 

Data - Carbon Commonly reported Clear split in basis of reporting Increasingly important Abstract concept for industry – need resource targets too

Recommendations - data : 

Recommendations - data

Recommendations - normalisation : 

Recommendations - normalisation

Conclusions : 

Conclusions Analysis shows some commonality Suggests a level of standardisation in reach A short list but manageable Reveals specific areas for further work Occupancy levels Measurement of waste Standardisation of energy measures Landlord/tenant split More consistency will encourage reporting List will gradually grow Further discussion with industry

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