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how to quantify esg?
The way to start quantifying sustainability improvements at the asset and portfolio-level could be to move away from a payback equation to one that instead measures value creation tied to annual savings and the stabilized cap rate.
During NAREIM's 2024 Sustainability Meeting, held in March, members discussed ways to quantify ESG initiatives, such as building above code, retrofitting LED lights, energy and water efficiency upgrades, tenant engagement programs and solar.
How was it done?
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Using a simple formula of annual savings divided by the current stabilized cap rate of an asset, the firm was able to compare and contrast the cost of efficiency retrofits, developing above code requirements and tenant engagement programs around energy conservation, with annual savings and the value created by the improvements.
NAREIM members can read the Sustainability meeting takeaways and access presentations and downloads by clicking below.,
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"As Voya started down the road of being a third party CML manager one of the first steps we took was to join NAREIM. The forums, research and peer interaction has been invaluable to us and helped in our current success to date.""
greg Michaud
Head of real estate, voya investment management
