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Report summarises Global Reporting Initiative’s new Construction and Real Estate Sector Supplement, provides updates on energy and sustainability legislative actions worldwide
Singapore, London and Chicago, 20th October 2011 - The emergence of international guidelines on sustainability reporting for real estate companies is one of several key global trends in corporate sustainability and responsibility reporting, executives of Jones Lang LaSalle reveal in Global Sustainability Perspective, the firm’s quarterly online research report on legislative and market forces pertaining to energy, sustainability and climate change issues around the world.
“Stock analysts and investors are looking at corporate data on sustainability more and more closely as the correlation between environmental performance and financial performance becomes increasingly clear,” said Dan Probst, Chairman of Energy and Sustainability Services at Jones Lang LaSalle. “Organizations like the Global Reporting Initiative and Carbon Disclosure Project have facilitated improvement in the quality and consistency of corporate sustainability reporting. The combination of better data and increased investor attention is driving several key trends in sustainability and responsibility reporting.”
Trends identified in the Fall 2011 Global Sustainability Perspective include:
A new focus on reporting on real estate sector, enabled by Global Reporting Initiative’s Construction and Real Estate Sector Supplement (GRI CRESS), which in addition to energy, water and carbon data, recommends reporting on building and materials certification; remediation of contaminated land; labour health and safety issues; and subcontractor labour supply chain issues.
Use of Web 2.0 applications featuring online applications that facilitate information sharing and user-centred design to engage with stakeholders, such as a feature on one company’s sustainability and responsibility website that allows visitors to comment on the firm’s environmental strategy and performance.
Greater transparency to enhance trust relationships at a time of growing public distrust of governments and businesses, magnified by increasing use of social media channels that make brand value difficult to control.
More integrated reports showing the relationships between financial, social and environmental performance—particularly in South Africa, where integrated reports are required for Johannesburg Stock Exchange companies; and in Brazil, where the number Global Reporting Initiative compliant reports jumped 68 percent between 2009 and 2010, compared to 22 percent globally.
The new Global Sustainability Perspective also discusses Jones Lang LaSalle’s own Corporate Social Responsibility report, issued in September. CEO and President Colin Dyer comments in the introduction of the report: “As part of our commitment to create real value in a changing world, we are determined to hold ourselves accountable for the social, environmental and economic impacts of our operations and are committed to developing policies, business practices and services that will drive continuing positive change in our industry.”
“The connection between sustainability reporting trends and our Energy and Sustainability Services business is very strong,” said Julie Hirigoyen, Head of Sustainability Services EMEA, Jones Lang LaSalle. “We have developed a leading practice that helps clients with all aspects of their sustainability strategy – from evaluating portfolio-wide sustainability risks to delivering practical solutions like energy management or building certification projects, and more recently identifying renewable energy opportunities through the use of a proprietary software tool (RESPRO). Our clients are very focused on monitoring financial risks associated with sustainability, and finding effective ways of reporting on these to investors – hence the relevance of sustainability reporting trends to their businesses.”
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