Triple bottom line, environmental, social and governance and net zero in commercial real estate

Charles Hardy, Sandrine Schultz, Brian Gilligan, Adam Mcclung and Walter Tersch
Additional contact information
Charles Hardy: U.S. General Services Administration, Public Buildings Service, USA
Sandrine Schultz: Office of Federal High-Performance Green Buildings, USA
Brian Gilligan: Office of Federal High-Performance Green Buildings, USA
Adam Mcclung: Office of Facilities Management, USA
Walter Tersch: Office of Architecture and Engineering, USA

Corporate Real Estate Journal, 2024, vol. 13, issue 3, 225-241

Abstract: Climate and sustainability are at the forefront of dialogue within corporate real estate (CRE) organisations. Nearly 40 per cent of global carbon dioxide emissions come from the real estate sector. Of these emissions, approximately 70 per cent are produced by building operations, while the remaining 30 per cent comes from construction.1 A common language and aligned path is essential in making progress if we, as an industry, are to meet the goals we are setting. Sustainability, when referring to the triple bottom line, is a concept that refers to the environmental, social and governance (ESG) performance of an organisation and measures three areas of impact: people, planet, profit. This paper explores how sustainability takes into account the needs of an organisation’s stakeholders (including the community, general public and its employees) along with its own interests. This results in stronger relationships with these groups. The U.S. General Services Administration (GSA) is a federal government entity with a mission to deliver the best customer experience and value in real estate, acquisition and technology services to the government and the American people. One of GSA’s strategic goals is to provide financially and environmentally sustainable, accessible and responsive real estate solutions that enable a productive federal workforce. This paper provides highlights of how GSA is driven by three guiding principles: buy clean, build clean; net zero operations by 2045; and design for people, design for impact. The challenge of finding appropriate solutions to meet the demands of today are presented in actionable ways in examples from GSA as it continues to partner with industry, other organisations and communities to develop innovative solutions that support customer missions, enable community development and protect the environment, while providing effective stewardship of taxpayer dollars.

Keywords: built environment; healthy buildings; greenhouse gas emissions; climate change; guiding principles; net zero; emerging technologies; carbon pollution-free electricity; fleet electrification (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aza:crej00:y:2024:v:13:i:3:p:225-241

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