The department offers sustainability solutions to building owners, occupiers, and investors to reduce costs and embodied carbon footprint while maintaining asset
Savills Singapore has announced the launch of an energy and sustainability management (ESM) department in response to the increasing demand for green properties. The increased demand comes amid rising public awareness of sustainability and the implementation of Singapore’s Green Plan 2030 to achieve net-zero carbon emissions.
The department will provide energy and sustainability-related solutions to building owners, occupiers, and real estate investors who are looking to reduce operational costs and embodied carbon footprint while maintaining asset relevancy.
“Whilst many asset owners, occupiers and real estate investors feel the urgency and demand for green properties, they may not understand how to get there,” says Samuel Han, energy and sustainability lead of energy and sustainability management at Savills. “Our goal is to be their choice consultant to take them step-by-step to green their properties and achieve their sustainability targets.”
Sam Crispin, regional head of sustainability and ESG at Savills Hong Kong, remarks that for many companies, embedding sustainable practices can be challenging when there are vertical silos or separate entities within the organisation. To that extent, education, leadership and a diplomatic approach are needed to ensure compliance while securing “buy-in” from different business units.
Crispin also highlights that landlords should consider introducing green leases, which can promote mutually beneficial energy saving and waste reduction in collaboration with tenants. “In much of Asia, the reality is that green leases may not be included in the legal documentation at all but be part of a voluntary arrangement between landlord and tenant. A more collaborative approach to landlord/tenant relations is important for both in meeting ESG goals," he explains.
Meanwhile, Marcus Loo, CEO of Savills Singapore, believes that with ESM onboard, Savills is empowered with more capabilities to provide a full suite of services to its clients. “ESM will be complementary to our other business lines as asset owners across multiple asset classes continue to grapple with challenges to reduce their carbon footprint and enhance the value of their asset in today’s world,” he continues