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Introducing the largest environmental benchmark for UK property owners and occupiers
London, 18th June 2013 – Jones Lang LaSalle and the Better Building Partnership (BBP) have agreed a major partnership to provide owners and occupiers with a single benchmarking system for comparing the environmental performance of their commercial property assets.
The BBP and Jones Lang LaSalle, through its Upstream Sustainability consultancy, currently provide two of the UK’s largest environmental benchmarking initiatives for property investors. By joining their respective databases, a publicly available, asset specific, operational benchmark of environmental performance for commercial property in the UK will be created, based on the largest dataset in the UK. Combined, the database will include approximately 500 retail and office properties, nearly 7 million sq ft. (over 2 million sq m), covering approx. 400,000 tonnes of carbon emissions.
Participating members will benefit from best practice tools and workshops, receive tailored reports regarding the performance of their own buildings, and understand the relative performance compared to the wider industry, helping them drive reductions across their own property portfolios. Over the past two years the collective portfolios of BBP members have reduced their associated carbon emissions by 8%; the equivalent of taking 11,000 cars off the road.
Each year Jones Lang LaSalle and the BBP will publish up to date annual environmental benchmarks under the new name: Real Estate Environmental Benchmark. These will be based on actual operational data, giving property owners, managers and occupiers a reference point against which they can compare the efficiency of their own portfolio.
Guy Grainger, CEO of Jones Lang LaSalle, said: “This partnership is a natural fit. Our Upstream team have been benchmarking property portfolios longer than anyone, and have been the sole benchmarking provider to the BBP for the past four years, so it was an obvious decision to join forces and create a nationwide benchmark for property owners with the BBP.”
Louise Ellison, Chairman of the BBP and Manager, Responsible Property Investment at M&G Real Estate, said: “Robust environmental benchmarking data is essential if we are to drive improved operational performance across assets. This publicly available benchmark is an important step forward and one from which the whole industry can benefit.”
Sander Paul van Tongeren, Senior Sustainability Specialist Global Real Estate at APG Asset Management, said: “It is refreshing to see true collaboration in this area, resulting in a UK wide operational benchmark, enabling transparency, comparability and a clearer understanding of the environmental impacts of the commercial property sector”
The first annual Real Estate Environmental Benchmark will be released in July.If you are interested in joining this benchmark, please visit http://www.betterbuildingspartnership.co.uk/
For further information, read the Q&A here
Notes to Editors
Jones Lang LaSalle’s Upstream Sustainability consultancy has been delivering environmental performance benchmarking to the property industry since 2001. It was the first of its kind in the UK and continues to be a market leader in terms of size, depth and coverage, covering 13 property portfolios. Its client portfolios are: British Land, Capital & Regional, F&C REIT, Grosvenor, Hammerson, Henderson Global Investors, Hermes Real Estate, PRUPIM, Sonae Sierra, Lend Lease, Majid Al Futtaim, Scottish Widows Investment Partnership, The Crown Estate, Universities Superannuation Scheme and X-Leisure.
The Better Buildings Partnership is a collaboration of the UK’s leading commercial property owners/investors. The BBP began benchmarking the energy consumption and carbon of its members’ portfolios in 2008. Members are British Land, Cadogan Estate, Canary Wharf Group, GE Capital Real Estate, Greater London Authority, Grosvenor, Hammerson, Hermes Real Estate, Henderson Global Investors, Land Securities,, Transport for London, LaSalle Investment Management, Legal & General Property, , PRUPIM, The Blackstone Group, The Crown Estate, Quintain Estates and Development and Workspace Group.
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