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The value of sustainability
As the marketplace becomes increasingly competitive, there is a need to differentiate oneself as a high performer. From Andrew Vaughan the CEO of Redevco: ‘Greening our portfolio over the next two years is not only environmentally the right thing to do, it also makes sound business sense’. One of the barriers to this is the result of split responsibilities within the real estate sector. Buildings built and/or managed to sustainability standards, such as Building Research Establishment Environmental Assessment Method (BREEAM) have been shown to minimise risk and generate maximum profit via: high and continuous rental income; low operating and maintenance cost; and low depreciation. Through certification and verification all parties can be confident in: the performance of assets and portfolios; comparability across building types and countries; the analysis is based on sound science and standards; allows you to be one step ahead of legislation and industry best practices. UK valuers do not think we are paying a premier for green buildings but having to give a discount because the building is not performing well. This paper presents the business case and value gained by being sustainable and how certification gives credibility to process and performance of portfolios and buildings.
The full article is available to institutions that have subscribed to the journal.
Andy Lewry DIC, CEng, CSci, FIMMM, CEnv, MSocEnv, FEMA has 19 years’ varied technical, marketing and management experience within the carbon and energy management industry, preceded by a further 10 years’ similar experience within various parts of the environmental and construction sectors. Andy is a chartered engineer and a Fellow of both the Institute of Materials (IOM3) and the Energy Managers’ Association, as well as a Prince 2 qualified project manager. He is currently the principal technical consultant for the BREEAM Existing Buildings Team in BRE Global. Andy has authored and published best practice publications on energy management, energy audits, building control and building energy management systems. Recently he produced guidance on ‘Bridging the performance gap: Understanding predicted and actual energy use of buildings’, Journal of Building Survey, Appraisal & Valuation, Vol. 3, No. 4, and ‘Producing the business case for investment in energy efficiency’, Journal of Building Survey, Appraisal & Valuation, Vol. 4, No. 1. He was also part of the UK Green Building Council’s task group that produced the ‘Delivering Building Performance’ report on 11th May, 2016, which lays out the success factors and steps required to tackle the gap between building design and building performance.
James Fisher is the BREEAM Existing Buildings Team Manager and leads the development, growth and delivery of BREEAM In-Use, Refurbishment and Fit-Out and new product lines. He has 20 years’ experience in sustainability and the built environment, coupled with a commercial approach which he uses to create innovative new projects, concepts and opportunities for the BRE Group. He and his team are currently developing property portfolio benchmarking tools and online platforms. James is currently a member of the GRESB Benchmarking Committee.
Matt Holden is the Economics Consultant in BREEAM for BRE Global, BRE’s accredited certification body. He is a trained economist with nearly 6 years’ experience in a wide range areas relating to the economics of sustainability and the built environment. He is responsible for leading the business’ economic analysis including cost/ benefit analysis and demonstrating the value of the BREEAM methodology. He has provided economic analysis in a range of research and dissemination projects encompassing both qualitative and quantitative methods. This includes quantitative analysis work on the Code for Sustainable Homes dataset and ‘Delivering Sustainable Buildings: Savings and Payback’, both of which were funded through the BRE Trust and involved collaboration with external partners including academia and cost consultants.
CitationLewry, Andy, Fisher, James and Holden, Matt (2018, June 1). The value of sustainability. In the Journal of Building Survey, Appraisal & Valuation, Volume 7, Issue 1.