Corporate social responsibility, previously a contradiction in terms, is dictating the need for developers to design, construct and manage commercial property with a clear commitment to environmentalism. To this end the notion of ‘sustainability’ is an increasingly important consideration within the commercial property sector for both practical and political reasons, despite having roots in the original 1881 RICS Royal Charter. Unfortunately no formula for sustainability currently exists, but the fundamental RICS objective of ‘securing the optimal use of land and its associated resources to meet social and economic needs’ remains valid.
The commitment of the previous Labour government to reducing CO2 emissions by 2050 has led to a reassessment of criteria for commercial property developers. With the expansion of the UK economy during the 1990s and 2000s, the priority for commercial new builds focused on speed and aesthetics over environmental concerns; such concerns, however, are now taking precedence. According to OECD statistics the built environment consumes 25–40% of total energy use, and discharges 30–40% of global greenhouse gas emissions and 30–40% of solid waste generation. Given the changing social attitudes towards environmentalism this situation is unsustainable.
As our living habits adapt to the collective need to synchronise the industrial and the natural, it follows that such changes should extend to commercial property. The shared responsibility of building developers, managers and occupants seeks to incorporate best sustainability practice as a matter of procedure. Components including optimum and measured energy consumption, minimal waste disposal, carbon neutrality and space economy are integral to sustainability. Advice and consultancy on such issues are available through relevant bodies including the Better Buildings Partnership, who have recognised the increasing importance of sustainability in the evolving commercial property sector.
And, looking through cynical spectacles beyond the obvious environmental concerns, the truth that dare not speak its name may be glimpsed. As with all sectors, the bottom line for commercial property is the bottom line; where the consumer goes the supplier must follow, and with the recent growth in environmental awareness a property provider could easily become a pariah unless they can indicate a clear commitment to sustainability practices.
Whether the motive is political, financial or environmental, sustainability is climbing ever higher on the list of priorities for commercial property developers.
