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October 30, 2012
Dear Clients, Friends and Colleagues,
As Green Edge continues to help real estate developers, owners and managers conserve capital and expand business opportunities through carbon footprint reduction strategies, we are energized and optimistic on one hand, but frustrated on the other.
 Energized and Optimistic
We just attended the Fall Meeting of the Urban Land Institute in Denver where approximately 5,000 real estate professionals gathered to share information, network and learn.
The mood was considerably more upbeat than any ULI national meeting we've attended since 2007 and there was a palpable increase in interest and receptivity to greening the built environment. Developers, owners and investors approached us to discuss projects, strategies and opportunities to add value through sustainability. We are excited about working with many of them.
...But Frustrated
On the other hand, Newsweek's fourth Annual Green Company Rankings were published last week and of the five real estate companies included in the U.S. Ranking, none were in the top 50 and only two were in the top 100 ranked companies.
Here are their rankings: Vornado 87, CB Richard Ellis 96, Simon Property Group 202, Weyerhaeuser 231, Public Storage 435.
These results confirm what we already know: the real estate industry has a long way to go when it comes to sustainability. On the flip side, the results also confirm the enormous opportunity for increased efficiency, value creation and bottom line improvement awaiting the majority of real estate companies that are still sitting on the green sidelines.
Given that the built environment consumes roughly 40% of the world's energy and materials, greening the real estate companies that are responsible for that built environment is a key piece of the climate change solution. The traction we witnessed in Denver suggests that this missing piece could be within arm's reach, in spite of real estate's disappointing performance so far.
Ultimately Encouraged
Thus, although we continue to be frustrated with the rate at which green strategies are being adopted in the real estate industry, we have good reason to be optimistic. We might just be at the tipping point and, being who we are, we continue to do everything we can to get over that Green Edge.
Let us help your company green its built environment, you can't afford not to.
Oh, and have a Happy Green Halloween,
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