Reducing economic risk is the major driver for committing to corporate sustainability, followed by improvement of image and increased productivity, according to a new survey carried out by listed German property company IVG Immobilien.

The research - which was carried out among 85 listed real estate companies in Europe - identifies sustainability as a key trend across the European property industry. Companies in Scandinavia are the most committed to sustainability while their counterparts in Poland and Southern Europe trail a long way behind.

Around 65% of respondents to the survey said they see a 'significant' demand for sustainability issues among tenants, with 53% noting they would seek so-called green leases in the next 24 months. Some 22% of companies have meanwhile installed an independent corporate sustainability department.

'That sustainability is becoming an increasingly economic factor in the real estate industry is clearly visible. But a gap often still exists between the claim and articulation of a more sustainable way of acting by companies and the measurable economic evidence in the real estate industry,' said Thomas Beyerle, Head of CS & Research at IVG Immobilien.

'In this way we are able to prove that this is a broad market movement, which is now clearly gaining in depth. The question of "if" is thus no longer asked,' Beyerle added.