Sustainability Is a Long-Term Commitment, Most Companies Believe: Honeywell Survey

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A recent survey focusing on the evolving sustainability landscape for “companies and the buildings they occupy” has found that 87% of those that have environmental management goals in place view their sustainability commitment as a long term investment, Honeywell says. More executives are seeing sustainability as a potential force multiplier for competitive advantage rather than simply as a means of demonstrating responsible corporate citizenship.

Leaders are realizing that making their buildings more energy efficient, for example, not only reduces building management and maintenance costs but also increases the likelihood of being viewed as a sustainability leader.

Property managers are reaping tangible benefits from making their buildings more sustainable — because real estate is known to be an energy intensive sector, making improvements to these spaces can reduce heating, cooling and operating costs. Making buildings more sustainable can also contribute to the ability to lure tenants with the promise of more environmentally friendly structures.

A more efficient building can also offer a competitive advantage in attracting workers. Consumers and potential employees are becoming more likely to choose businesses that have sustainability practices in place. With this increasing rise in demand, companies are more attractive to employees, subsequently seeing a rise in employee interest and retention.

Energy efficient lighting, HVAC optimization and waste management top the list of initiatives currently in place by both executives who occupy company-owned offices and those in leased office space (who are familiar with the building owners’ sustainability initiatives). The survey also found that, of respondents who lease office space to tenants, 60% will invest in new technology to enhance sustainability in the next six to 12 months. In addition, 53% say they have discussions with new tenants about their sustainability goals.

Eight of 10 US surveyed businesses currently say they have sustainability initiatives in place.