Corporate carbon reduction pledges will have big impact on office market

Corporate carbon reduction commitments will have a significant impact on office leasing over the next few years.

Businesses that have pledged to reduce their organization’s impact on climate change must ensure their next lease allows them to show material progress on their goals, according to a report by JLL. This factor will have a significant impact on the office market over the next 12 to 24 months and beyond.

“Tenants are prioritizing buildings that are energy efficient, free from onsite fossil fuels and powered by clean energy,” JLL says. “For construction projects, occupiers are beginning to focus on lower embodied carbon designs.”

With the increasing adoption of work-from-home and hybrid models, demand for new commercial real estate construction drastically slowed since the Covid pandemic, and low-carbon office space supply is struggling to keep pace with an uptick in demand. So, businesses will be challenged to find space that meets their corporate environmental goals.

“Today, rightsizing and ‘flight to quality’ are driving leasing decisions,” JLL says. “The concept of 'flight to quality' is evolving to encompass energy performance and sustainability credentials.”

GENESIS Marina, an expansive laboratory and office campus in Brisbane, Calif., is the world’s first Total Resource Use and Efficiency (TRUE)-certified construction endeavor. The certification recognizes projects that achieve outstanding levels of resource efficiency through waste reduction, reuse, and recycling practices.

Adaptive Reuse | Mar 21, 2024

Massachusetts launches program to spur office-to-residential conversions statewide

Massachusetts Gov. Maura Healey recently launched a program to help cities across the state identify underused office buildings that are best suited for residential conversions.

Office Buildings | Mar 21, 2024

BOMA updates floor measurement standard for office buildings

The Building Owners and Managers Association (BOMA) International has released its latest floor measurement standard for office buildings, BOMA 2024 for Office Buildings – ANSI/BOMA Z65.1-2024.

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Sustainability | Mar 13, 2024

Trends to watch shaping the future of ESG

Gensler’s Climate Action & Sustainability Services Leaders Anthony Brower, Juliette Morgan, and Kirsten Ritchie discuss trends shaping the future of environmental, social, and governance (ESG).