Real estate investment sector criticised over environmental record

Commercial property investment companies worldwide are failing to implement sufficiently eco-friendly policies, a new report has indicated.

Of the 198 real estate firms that responded to the survey by the European Centre for Corporate Engagement, just 20 were found to have scored relatively highly both in terms of environmental management and policy and of implementation and measurement.

Moreover, just 19 per cent of property companies reported their energy consumption, with no more than 16 per cent divulging their water consumption and only 14 per cent revealing their carbon emission levels.

The report asserted: "Property investors do not necessarily walk their environmental talk: a substantial percentage of the respondents score higher on environmental management and policy than on the actual implementation of these policies."

British firms were among the top performers on the whole, however, along with their Swedish and Australian counterparts, with storage specialist The Big Yellow Group scoring 83 overall on the index.

This survey was commissioned by the Universities Superannuation Scheme, APG Asset Management and PGGM Investments.

01/02/2010