Sustainability – an emerging and key deciding factor amongst office occupiers

The rise of climate-conscious office occupants and awareness among office-goers have highlighted the importance of sustainable office spaces. The term ‘sustainability’ has become the guiding norm and organizations strongly believe that the future of workspaces would be green. Realizing the value of taking immediate actions for a sustainable future, the office developers are constantly doling out climate-friendly spaces offering a peaceful environment that fosters better mental health, sustainability, and well-being.

According to a JLL survey, sustainability ranks among the top 3 considerations alongside location and rentals for occupiers while leasing real estate as occupiers and investors of the commercial real estate agree that real estate will be a game-changer in achieving net-zero carbon goals. It further says that around 87% of occupiers and 78% of the investors accept that climate risk poses a financial risk. The need for a sustainable environment has led to greater demand for green buildings, so much so that demand for green buildings risks outstripping supply in India currently. Around 70% of occupiers are willing to pay a premium to lease green-certified buildings.

Various reports also highlight that buildings account for an estimated one-third of global emissions. Here it becomes imperative for companies to chalk-out sustainable and practical solutions for a better future. As green-certified buildings offer a cost-effective solution to climate changes along with economic and societal advantages, they are witnessing a monumental rise in demand. The Indian companies are stepping ahead to invest in green offices and a large number of IT/ITES companies and BFSI are religiously following a green mandate in leasing commercial spaces.

Today, companies are changing conventional, outd offices into sustainable ecosystems to benefit both occupants and the planet. They are encouraged by research that proves that adopting green practices at workplaces translates into better productivity among employees and leads to happier, healthier, and better efficiency. They are going green and the real estate developers are rapidly launching green office spaces developed with sustainable elements and energy-efficient systems. The structures which are good for the planet are being preferred to reduce carbon footprint and contribute towards a greener future. Natural light, green design, recycling and waste management, better ventilation, non-toxic cleaning products, greenery, and energy conservation have become necessities in today’s world.

The current milieu presents the opportunity to start transforming offices into greener spaces and cultivate eco-friendly practices in commercial real estate. A reimagined approach towards offices and adoption of sustainable practices can result in reduced emissions and better health of employees. The companies are now realizing it deeply and they are taking action to inspire others and actively taking steps to do their bit for a larger cause ie, building a sustainable and healthy future for all.



Views expressed above are the author’s own.



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