New research exploring the state of sustainability within the UK office market has revealed significant challenges facing landlords on the path to net zero.
The research, commissioned jointly by infinitSpace and The Instant Group, found that almost half (47%) of landlords believe the UK office market is lagging behind other areas of the property sector in implementing environmental policies.
The same number say they can’t ‘go it alone’, with 47% of landlords agreeing they need help in shaping environmental policies.
Meanwhile, 84% of landlords report a vacancy rate of 30% and above as average among their office building portfolio.
The findings, which are based on a survey of 250 commercial landlords with offices in the UK, are the first to come from a new research partnership between infinitSpace, a provider of tech-enabled, flexible workspaces, and The Instant Group, a global marketplace for flexible workspace solutions.
The study, which was conducted independently by Censuswide, revealed a significant knowledge gap in the capabilities of office landlords to shape environmental policies. It also uncovered a belief that the workspace market is moving too slowly in implementing and adopting environmental policies compared to other sectors.
Wybo Wijnbergen, CEO of infinitSpace, said: ‘As a sector, the office market is a large emitter of carbon and its transition to net zero will be essential in reaching the sustainable future the planet so desperately needs. But success will be dependent upon understanding and mitigating the challenges landlords face in improving the operations of their buildings. The research partnership we have unveiled today will go a long way to shedding a light on these challenges and where the sector must act…The real estate sector can play a significant role in safeguarding the future of our planet - now is the time to execute.’
Sam Pickering, executive director of sustainability at Incendium (part of the Instant Group) commented: ‘The corporate sustainability landscape is rapidly changing due to the urgency of the climate crisis, stakeholder pressure, expanding regulations and consumer-driven transparency.’
He added: ‘Businesses must adapt – starting with landlords and asset owners. A genuine sustainability strategy requires data transparency in order to influence decision makers that can have a true impact on reducing carbon emissions. Our intention with research initiatives such as this one is to forge a strong foundation for sustainable outcomes for all.’