The Leader - January/February 2008 - (Page 51) m e e t i NG th e ca r B oN ch a lleN Ge: the ro le o F co mme rci al re al e s tate o W Ne rs , Us e rs & maNaG e rs a strUctUred process n n n n n n n n n n Get buy-in from senior management to make carbon reduction a priority Assign dedicated resources to the study and planning of carbon-reduction measures Understand the applicable regulations Determine your organization’s carbon footprint through data collection and analysis Set reasonable short and long-term goals Develop and execute emission reduction programs Report results on an ongoing basis Refine process to achieve continuous improvement Participate in local and national organizations committed to climate improvement to stay informed about issues that will affect your business Choose environmentally conscious partners as service providers positioning the organization for future success. In coming years, commercial real estate investors and managers will be challenged to address new requirements for underwriting investments and operating their portfolios. Rising public awareness, too, will cause stakeholders of all types – tenants, employees, shareholders, investment industry analysts and insurers – to look closely at climate change practices within the real estate industry as the public comes to understand the significant impact that the built environment has on energy consumption and, consequently, greenhouse gas emissions. Both public perception and investor concern present an opportunity for the real estate industry to showcase social responsibility goals and gain competitive advantage with buildings, policies and programs that help mitigate the potentially dangerous outcome associated with adverse climate change. For more information on this topic, go to CoreNet Global’s Knowledge Center Online. Going Carbon Neutral http://www2.corenetglobal.org/dotCMS/ kcoAsset?assetInode=2675168 Treading Lightly: How Property IT Systems Can Help Organizations Retrace Their Carbon Footprints http://www2. corenetglobal.org/dotCMS/ kcoAsset?assetInode=2700271 The Carbon Calculator: Analysing the Impact of Procurement & Design Decisions http://www2. corenetglobal.org/dotCMS/ kcoAsset?assetInode=2679714 aBoUt the aUthors Michael Groppi, P.E., is Senior Vice President and National Director of Engineering for Grubb & Ellis. Jerry Burin is a Vice President with Sieben Energy Associates. lookiNG to the FUtUre A recent Harvard Business Review article stated that “Climate change affects your company’s competitive landscape in ways you might not realize. Companies that manage and mitigate their exposure to climate change risks while seeking new opportunities for profit will generate a competitive advantage over rivals in a carbon-constrained future.” The article lists regulatory risk, supply chain risk, product and technology risk, litigation risk, reputation risk and physical risk as examples of the far-reaching effects of climate change on business. Today’s forward-thinking companies are beginning to understand these risks and are taking steps to reduce exposure. While this is a responsible reaction to a global issue, it is also a means by which to uncover new business opportunities and cost savings, 2 0 0 8 the le ade r 51 J aN Ua rY / F e B rUa r Y http://www2.corenetglobal.org/dotCMS/kcoAsset?assetInode=2675168 http://www2.corenetglobal.org/dotCMS/kcoAsset?assetInode=2675168 http://www2.corenetglobal.org/dotCMS/kcoAsset?assetInode=2700271 http://www2.corenetglobal.org/dotCMS/kcoAsset?assetInode=2700271 http://www2.corenetglobal.org/dotCMS/kcoAsset?assetInode=2679714 http://www2.corenetglobal.org/dotCMS/kcoAsset?assetInode=2679714
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