2Sustain

Sustainability remains high on the agenda for property professionals even in this tough economic climate, according to new research released by the Royal Institution of Chartered Surveyors (RICS).

RICS polled more than 380 property professionals worldwide and uncovered some intriguing trends. For instance:

• More than 40% of all real estate professionals who responded to the survey said that sustainability is a more important issue for their clients now than it was this time last year.  About the same amount felt it was just as important. Less than 10% felt that it was less of an issue for their clients.

• Survey respondents from Germany had the most positive responses. 38% considered sustainability as very important. 25% said it is important. Energy supply/efficiency (25%) and over consumption of natural resources (21%) were cited as the most relevant issues. www.property-magazine.eu.

• Respondents from the UAE, Spain, and Japan were least likely to consider sustainability important for their clients. The U.S. and the UK finished in the middle of the pack.

• When asked to rank the most important sustainability issues, participants in the survey cited energy supply first, followed by transport issues and waste management.

• What emerged as the key driver of the sustainability agenda among real estate clients? The business bottom line (35%).  Legal compliance (15%) and client demand (15%) were the next two most popular drivers identified.

“Sustainability clearly remains a major issue for most organizations according to this survey despite the depth of the downturn. However it is also clear that for many, the principal driver for change is business bottom line,” says Simon Rubinsohn, RICS chief economist. “Businesses adopting ‘green’ initiatives generally expect them to offer a payback in terms of cost savings over the medium term.”

Results of the RICS survey mirror other data that shows consumers are continuing to seek out sustainable options and that many now consider the environmental impact of the products they buy.

The full RICS report is available at  http://www.ricsamericas.org/files/editor/sustainability july 09.pdf