Abstract
Sustainability reporting has become both a necessity and a potential competitive advantage for many contemporary corporations. However, unlike many industrial operators, real estate owners and investors have not yet seen the need to
follow or report their environmental performance on any large scale. This lack of pro-activeness is both peculiar and problematic considering that the built environment is responsible for a significant share of global resource use, such as energy and water consumption. With respect to climate change, the built environment is a huge contributor with over one third of global annual emissions. In the light of this knowledge, this study approaches the world of sustainability reporting from the perspective of real estate investors and owners. The aim of the study is examine what and in what extent investors and owners are reporting at the moment. It is also examined what reporting guidelines the reports are following and in what manner the reports are covering the triple bottom line of sustainability. Based on the commonly
accepted definition of the triple bottom line, the reporting should cover not only environmental, but also social, and even economic performance with regard to building use. Additionally, potential reasons for the current unwillingness
and problem situations of the investors and owners to measure and report their activities are explored via interviews and data reviews. This study will give an understanding of the current situation and the findings are expected to
indicate the strengths and weaknesses of the reporting. It is expected that these results will indicate how the reporting should be developed to achieve competitive advantage for the investor or owner by acting pro-actively instead of only
reporting what has happened. The topic is important as sustainable development and corporate responsibility are coming more essential due the climate change and recent global crises. It can be expected that the findings will also be applicable to other business areas.
follow or report their environmental performance on any large scale. This lack of pro-activeness is both peculiar and problematic considering that the built environment is responsible for a significant share of global resource use, such as energy and water consumption. With respect to climate change, the built environment is a huge contributor with over one third of global annual emissions. In the light of this knowledge, this study approaches the world of sustainability reporting from the perspective of real estate investors and owners. The aim of the study is examine what and in what extent investors and owners are reporting at the moment. It is also examined what reporting guidelines the reports are following and in what manner the reports are covering the triple bottom line of sustainability. Based on the commonly
accepted definition of the triple bottom line, the reporting should cover not only environmental, but also social, and even economic performance with regard to building use. Additionally, potential reasons for the current unwillingness
and problem situations of the investors and owners to measure and report their activities are explored via interviews and data reviews. This study will give an understanding of the current situation and the findings are expected to
indicate the strengths and weaknesses of the reporting. It is expected that these results will indicate how the reporting should be developed to achieve competitive advantage for the investor or owner by acting pro-actively instead of only
reporting what has happened. The topic is important as sustainable development and corporate responsibility are coming more essential due the climate change and recent global crises. It can be expected that the findings will also be applicable to other business areas.
Original language | English |
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Title of host publication | PROCEEDINGS OF THE 19TH ANNUAL PACIFIC-RIM REAL ESTATE SOCIETY CONFERENCE MELBOURNE AUSTRALIA, 13-16 JANUARY 2013 |
Publication status | Published - 2013 |
Subject classification (UKÄ)
- Economics and Business
Free keywords
- sustainability reporting
- Corporate Social Responsibility (CSR)
- Global Reporting Initiative
- real estate sector
- triple bottom line