Institutional investor motivation, processes, and expectations for sustainable building investment

Christensen, PH; Robinson, S; Simons, R

Institutional investor motivation, processes, and expectations for sustainable building investment

Christensen, PH Robinson, S Simons, R

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Publisher:: ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
Publication Type:: Journal Article
Citation:: Building Research and Information, 2021
Issue Date:: 2021-01-01

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Field	Value	Language
dc.contributor.author	Christensen, PH
dc.contributor.author	Robinson, S
dc.contributor.author	Simons, R
dc.date.accessioned	2021-11-16T00:47:17Z
dc.date.available	2021-11-16T00:47:17Z
dc.date.issued	2021-01-01
dc.identifier.citation	Building Research and Information, 2021
dc.identifier.issn	0961-3218
dc.identifier.issn	1466-4321
dc.identifier.uri	http://hdl.handle.net/10453/151595
dc.description.abstract	This paper examines strategic motivations, processes and expectations for institutional real estate owners around sustainable improvements and eco-labelling in office buildings. A series of 33 industry interviews with senior representatives of institutional real estate owners (e.g. REITs, Pension Funds, Opportunity Funds, and Investment Managers) were conducted to explore three key research questions. First, what motivates firms to invest in and move towards green technologies and certifications? Second, how do firms choose to implement, manage and maintain green investments and eco-labels? Third, what, if any, are the financial expectations of investing in green labelling and efficiencies? Results from the constant comparison analysis of the transcripts reveal that expected financial outcomes dominate environmental, broader sustainability and governance concerns when making decisions related to sustainability. The perceived value in eco-labelling was found to be widespread. Data collection and benchmarking related to energy and water usage were found to be the new norm for institutional managers and investors. In addition, a range of localized and firm-level policies was identified. A rigorous interview protocol was followed to reduce threats to reliability and validity.
dc.language	English
dc.publisher	ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
dc.relation.ispartof	Building Research and Information
dc.relation.isbasedon	10.1080/09613218.2021.1908878
dc.rights	“This is an Accepted Manuscript of an article published by Taylor & Francis in [Building Research and Information, 2021] on [Published online: 01 Jan 2021], available online: https://www.tandfonline.com/doi/full/10.1080/09613218.2021.1908878”
dc.rights	info:eu-repo/semantics/embargoedAccess
dc.subject	1201 Architecture, 1202 Building
dc.subject.classification	Building & Construction
dc.title	Institutional investor motivation, processes, and expectations for sustainable building investment
dc.type	Journal Article
utslib.for	1201 Architecture
utslib.for	1202 Building
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	open_access	*
utslib.copyright.embargo	2022-01-01T00:00:00+1000Z
dc.date.updated	2021-11-16T00:47:16Z
pubs.publication-status	Published

Abstract:

This paper examines strategic motivations, processes and expectations for institutional real estate owners around sustainable improvements and eco-labelling in office buildings. A series of 33 industry interviews with senior representatives of institutional real estate owners (e.g. REITs, Pension Funds, Opportunity Funds, and Investment Managers) were conducted to explore three key research questions. First, what motivates firms to invest in and move towards green technologies and certifications? Second, how do firms choose to implement, manage and maintain green investments and eco-labels? Third, what, if any, are the financial expectations of investing in green labelling and efficiencies? Results from the constant comparison analysis of the transcripts reveal that expected financial outcomes dominate environmental, broader sustainability and governance concerns when making decisions related to sustainability. The perceived value in eco-labelling was found to be widespread. Data collection and benchmarking related to energy and water usage were found to be the new norm for institutional managers and investors. In addition, a range of localized and firm-level policies was identified. A rigorous interview protocol was followed to reduce threats to reliability and validity.

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http://hdl.handle.net/10453/151595