You’ll be familiar with INREV, EPRA, the BPF and the IPF, the APB and the CREFC. Possibly you’re getting to know the PBF? But be prepared for some more alphabet soup: this year has seen the launch of the GRA, the ISA and (wait for it) the GRESBF.
The latter organisations have more than a passing interest in EPCs, DECs, CRC and another long-standing acronym that might give you a clue as to what this is all about, BREEAM. Yes, they are all bodies concerned with sustainable buildings or schemes designed for their measurement.
Whether there are too many organisations and systems for measuring green buildings is a moot point. Discussions with a few people much better informed than I indicates there’s plenty of wheel re-inventing going on.
Investors and fund managers are getting to grips with measuring the sustainability, or otherwise, of the real estate they own and manage. Tighter regulation is making this a priority. Under the UK Carbon Reduction Commitment scheme, from next year large firms will have to pay a tax directly related to their electricity use.
You would expect them to start asking questions about the energy efficiency of the buildings they occupy and to make energy-efficient design and management a priority. Institutional investors are also after hard facts on how investment managers measure up. So expect more emphasis on collecting data and reporting in this area too.
Both should be beneficial because for the first time there will be clarity about the correlation between property values and resource consumption and its management. Until now it has been impossible to prove that sustainable buildings have a higher worth. Being armed with the facts is a versatile tool that will bring real value to the industry.