A number of Europe's leading shopping center developers are now using the International Sustainability Alliance (ISA) to benchmark and improve the sustainability performance of their real estate.
Over two thirds of ISA's benchmarking database is composed of information from the retail sector, which includes over 100 shopping centers across Europe equating to a total floor area of 4.7 million m².
ISA members collect data on energy, water use, carbon emissions and waste, in order to benchmark and identify areas for improvement.
Philip Buttery, Chief Executive Officer for ISA, says: "The real estate sector has a huge amount to gain from understanding the performance of its buildings. Measurement means better management which can lead to significant cost savings in operating property assets. Better performing buildings are becoming more attractive to corporate occupiers and investors who increasingly require environmentally sound real estate to meet the demands of legislation, their shareholders and customers."
The ISA database provides individual members with performance KPIs with which they will be able to compare the environmental performance of their own portfolios against those of their peers on a like-for-like basis. This could help inform future investment and management strategies as well as providing companies with audited information for their annual reports.
ISA members active in the retail sector include developers such as Cório and ECE, and property managers including Cushman & Wakefield and Aberdeen Asset Management.
Source: International Sustainability Alliance