State of the Industry Report 2007-2008

Chapter Three buildings account for 40% of all energy consumed both make CRE a natural solution for the energy challenge. ‘There are few technical or economic barriers to preventing an organization from creating a comprehensive energy management program.’ ‘In Hong Kong, the environment is now becoming a really big topic but so far more talk than action. We are seeing some corporations undertaking environmental audits, looking more positively on green buildings, and demanding green leases.’ ‘There’s a tremendous amount of existing building stock out there that isn’t green. The potential for retrofit is tremendous.’ workplaCe Workplace practices like mobility, collaboration, open space and remote work are on the rise, due largely to technology’s continued rapid advance. More companies view the workplace more as the work environment, and fewer are following the traditional management dictum that ‘If I can’t see them, they’re not working.’ Workplace is also linked to sustainability. Mobility and remote work cut energy use and carbon emissions of people and companies. They also reduce the real estate footprint. Companies with flexible workplace practices are finding it an effective talent recruiting and retention tool, especially as younger workers identify more with employers who also practice sustainability. ‘One of the factors we look at in supporting green initiatives is that we want to be able to attract and retain the next generation of employees for whom green issues are very critical.’ Sustainability also extends beyond the environment, conservation and green buildings. It’s also linked to supply chain strategies and customer location, or wherever consumers make purposeful choices and/or the CEO drives a mandate top-down. The results of these drivers are that we’re starting to see the carbon footprint of products being reduced. wIde use and ImpaCt of Cre growIng broader With the new areas like carbon reduction and the War for Talent already linking to established CRE practices, it’s clear that industry professionals can capitalize on their positioning with enterprise-wide impact. ‘We need to position real estate differently in the organization and call it integrated resources or resource optimization.’ ‘We have to elevate the presence of CRE in the company. Nowhere else in the company will you have the exposure – real estate cuts across all parts and levels of the corporation.’ chapter three State of the Industry 2007-2008 14 http://www2.corenetglobal.org/home/index.vsp

Table of Contents Feed for the Digital Edition of State of the Industry Report 2007-2008

State of the Industry Report 2007-2008 Contents Chapter 1: Introduction : CoRE 2010 Framework and Report Structure Chapter 2: The Changing Business Environment Chapter 3: Executive Summary of Key Findings and Conclusions Chapter 4: CoRE 2010 Adoption Rate Chapter 5: Sustainability/Corporate Social Responsibility Chapter 6: Global Sustainability Survey and Roundtable Findings Chapter 7: Workplace Practices/Work Environments Chapter 8: Workplace Related Issue: The War for Talent Chapter 9: Asset Management/Portfolio Optimization Chapter 10: Solutions Delivery Chapter 11: Location Strategies/The Strategic Role of Place Chapter 12: Location Related Issue: Site Selection Morphs to Portfolio Alignment Chapter 13: Strategic Competencies/Enterprise Leadership Skills Chapter 14: Competencies Related Issue: The War for Talent in Corporate Real Estate (CRE) Chapter 15: Integrated Resources Infrastructure Solutions – IRIS Chapter 16: Technology and the Web Chapter 17: Technology Related Issue: Removing the Obstacles to Industry Data Standards Acknowledgements and Sources

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