Anne Sophia Blin
EMEA Upstream Sustainability Services
I was at the European Public Real Estate Association (EPRA) Annual Conference last week where, amongst other things, the Best Practice Recommendations (BPRs) for sustainability reporting were officially launched. This project aims to make reporting across European property companies more consistent and comparable by encouraging companies to adopt basic environmental indicators on issues such as energy, waste, water and greenhouse gas emissions.
As facilitators and expert advisors to the project, Jones Lang LaSalle significantly contributed to the discussions that led to the release of these BPRs. It is fair to say that arriving at a consensus and a common language on environmental issues is not an easy task, especially as not all property companies are at the same stage of sophistication in their approach to sustainability reporting. However, the resulting indicators are a very good step forward in the journey to uniform sustainability reporting not least because of the reach of the EPRA members’ community. Importantly enough, these indicators are aligned with the Global Reporting Initiative Construction and Real Estate Supplement (GRI CRESS) due to be released on 22nd September. Both of these initiatives reflect some strong momentum gathering for more consistent and transparent sustainability reporting for real estate.
The ball is now in companies’ courts to make the most of these indicators in advance of next year when the first award for the implementation of the sustainability BPRs will be announced. All EPRA members that choose to implement the BPRs will be considered and Jones Lang LaSalle will help in selecting the winner. So watch the space!
To find out more about sustainability reporting trends in Europe, click here.