State of the Industry Report 2007-2008

Chapter Two sustaInabIlIty, energy and Carbon emIssIons as new busIness drIVers Core 2010 foresaw sustainability and CSR as key drivers of CRE but did not anticipate the weight or velocity of related issues like climate change, energy management and carbon footprint reduction that rose with unprecedented speed on the corporate agenda in 2007. • In North America, rising energy costs have become a fundamental driver of the business. • The dramatic increase in this focus by corporations in North America is a significant change in 2007 both economically and for CRE. • In Europe, reduction of the carbon footprint is a prime business driver in a government-regulated environment. • In Asia, access to the construction supply chain and building materials is a major factor in a fastgrowth region. • One result not foreseen by CoRE 2010: Energy management and carbon reduction are now primary drivers of CRE. talent and demographIC drIVers also Changed The demographic business drivers envisioned by CoRE 2010 are also exceeding forecast, although there was evidence of a talent issue in the economic boom years of the late 1990’s preceding CoRE 2010. Mainly because of a shortage in talent in the global economy, demographic issues have since risen on the importance scale faster than anticipated in 2004. • The growing gap for technical-level talent globally and the underlying demand created by the ongoing outsourcing of core functions is now a business driver not only in CRE but across the enterprise. • It also signals a currently inadequate industry pipeline to meet demand for outsourced jobs like facilities and transactions management. • At the more senior levels, while strategic competencies for CRE were clearly outlined in CoRE 2010, the so-called “enterprise leadership” skill set is still a work in progress and it continues to be burnished through issues like C-Suite access, business unit credibility, and CRE leadership coming from other parts of the enterprise. workplaCe, teChnology and the web Technology continues to progress rapidly, in some ways even faster than envisioned including bandwidth, security, access, mobility and information sharing. chapter two State of the Industry 2007-2008 9 http://www2.corenetglobal.org/home/index.vsp http://www2.corenetglobal.org/learning/core2010/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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