Property sector failing to deliver a sustainable future

Research compiled by architect Woods Bagot revealed that 82 per cent of respondents support the statement that the industry is not dong enough to deliver sustainable solutions. The practice surveyed more than 200 senior property professionals in the Europe, the Middle East, Asia United States, and Australasia.

The survey revealed that energy efficiency and generation was the most important issue for the future. This was followed by reducing carbon footprints of new and refurbished developments as well as the reduction of water usage.

Respondents said the industry’s two most significant challenges are the lack of industry support to deliver sustainable solutions, and the ability to provide a convincing argument for the benefit of sustainability to clients.

Earle Arney, Director at Woods Bagot’s London office, said “The property sector needs to refocus. Buildings currently represent 40 per cent of global CO2 emissions: if we continue on our current trajectory then the world’s buildings will be at the top of the environment’s epitaph.”

Respondents were aware of climate change and there was industry awareness of the potential for sustainable construction. 86 per cent of respondents believed that green buildings improved corporate reputation, reduced operational costs and risk, and improved staff productivity. And 73 per cent believed that going green was an effective tool for attracting and retaining key talent in the industry.

A third of respondents from the poll believed that the cost premium for creating a sustainable building was 6-10 per cent more than the cost of a standard building.

Arney said: “The industry is more than aware of the convincing arguments for sustainable developments and the benefits are well known. What we need to move beyond is apprehension at increase in construction costs as these are more than offset by staff retention, attraction, and improvements in productivity over the long term.