ESG considerations are increasingly more often being taken into account by corporations looking for new business venues. The sought after locations are in line with the given organisation’s goals and values, especially in terms of sustainable development, the environment and corporate governance.
Certificates
Green certificates are the first important indicator that an office building is environmentally friendly. Smart Score, a new certification scheme for buildings appeared on our market in 2021. It confirms use of digital solutions for real estate. BREEAM is another widely recognised certificate. BREEAM is a validation system for sustainable built environment respected all over the world. More than 540,000 certificates for more than 24,000 projects have been issued within the scope of BREEAM. It was established in 1990 by BRE Global. BREEAM rated Bloomberg’s new headquarters in London as “Outstanding” with a score of 98.5%. This is the highest rating ever given to an office building.
ESG in office buildings
When looking for a new business location, apart from certificates one should also consider other issues. Firstly, the building’s location should be easily accessible using a bicycle or public transport. Nonetheless, staff facilities should also include car parks as well as charging stations for electric vehicles and scooters.
Corporate practices
Some businesses decide to invest in green bonds. These instruments are used to fund eco-friendly projects which might entail use of greywater, consumption of energy generated using renewable sources or use of local products. Every company within its own scope should seek out good ESG practices such as use of small cleaning firms or working only with businesses which follow similar, environmentally friendly principles.
Carpooling
Increasing fuel prices have stimulated interest in carpooling. Commuting to work together is a simple strategy to split bills between two, three or even four people. Sharing a car means less journeys are made. And that is good for the environment. Cars generate carbon dioxide which traps heat. And this has a major impact on global warming. Cars generate smog which triggers asthma and is associated with other health and well-being problems. Incentives are needed for an employer to run an effective carpooling programme. These might include a car parking space, fuel subsidies and other prizes. Discounts for food serving establishments are proving very popular.
Summary
ESG is significant when selecting a new location for an office building. Therefore, owners of older office buildings should bring them up to date with new standards.
