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Owner organizations' value-creation strategies through environmental certification of buildings
KTH, School of Architecture and the Built Environment (ABE), Sustainable development, Environmental science and Engineering.ORCID iD: 0000-0002-9469-6023
KTH, School of Architecture and the Built Environment (ABE), Sustainable development, Environmental science and Engineering.ORCID iD: 0000-0003-2949-422X
2016 (English)In: Building Research & Information, ISSN 0961-3218, E-ISSN 1466-4321, Vol. 44, no 8, 863-874 p.Article in journal (Refereed) Published
Abstract [en]

The existing literature (mostly referencing heuristics of the valuation profession) provides little evidence on how property owners and managers themselves perceive value creation from environmental certification (EC) of buildings. To address this issue, questionnaire and interview data from non-residential EC building owners in Sweden are gathered and related in a strategy map' that explains their perceived value creation from EC. The mapping process also considers the four standard perspectives of the balanced scorecard, prompting researchers and owners to evaluate EC in terms of its contribution to long-term strategy, measuring it according to financial and non-financial metrics of organizational performance. The study confirmed that tenant demand is an important EC driver for property owners (particularly for large organizations) and therefore that increased EC awareness amongst tenants is important for EC and for further value creation. It was found that tool developers, property owners and valuers could all benefit from more closely aligning valuers' documentation requirements with those for accreditation with EC tools. Energy efficiency contributes significantly to value creation, but owners use energy management programs in addition to EC, possibly as a result of the performance gap phenomenon.

Place, publisher, year, edition, pages
Taylor & Francis, 2016. Vol. 44, no 8, 863-874 p.
Keyword [en]
buildings, environmental assessment, environmental certification, management, performance measurement, property owners, strategy, valuation, value creation
National Category
Building Technologies
Identifiers
URN: urn:nbn:se:kth:diva-194253DOI: 10.1080/09613218.2016.1099031ISI: 000384072600003Scopus ID: 2-s2.0-84946888081OAI: oai:DiVA.org:kth-194253DiVA: diva2:1039527
Note

QC 20161024

Available from: 2016-10-24 Created: 2016-10-21 Last updated: 2017-02-10Bibliographically approved
In thesis
1. Managing high environmental performance?: Applying life cycle approaches and environmental certification tools in the building and real estate sectors
Open this publication in new window or tab >>Managing high environmental performance?: Applying life cycle approaches and environmental certification tools in the building and real estate sectors
2017 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

The main aim of this thesis is  to demonstrate and critically assess life cycle approaches’ and environmental certification (EC) tools’ potential for supporting decisions for improved environmental performance in the building and real estate sectors.

Using life cycle approaches, the thesis shows that for new build and renovation cases aiming for low operational energy use that embodied global warming potential (GWP) due to material production can constitute a large portion of a building’s lifetime GWP. Therefore life cycle based information about materials’ embodied GWP needs to be made available to and utilized by design process decision makers.

It was also shown that applying the Swedish EC tool Miljöbyggnad was useful in highlighting potential positive and negative changes in indoor environmental quality arising from renovation packages aiming at significant operational energy use reduction in existing multifamily buildings. However such renovation packages are not profitable from a property owner perspective. Miljöbyggnad may be useful when designing policy instruments to overcome this.   

The thesis also showed that EC and related environmental enhancements contribute to achieving property owners’ and tenants’ overall strategic objectives for value creation. For property owners this arises for example through lower energy costs and attracting desirable tenants. For tenants, value creation arises as support for internal and external environmental communication.

For the further development of life cycle approaches’ and EC tools’ application to buildings and real estate it is important to consider how they can be adapted to consider ‘distance to sustainable’ targets referencing for instance the planetary boundaries approach. It is also interesting to investigate how valuation of buildings and real estate may be performed in a way that expands from the current narrow focus on the economic perspective to also include environmental and social perspectives.

Place, publisher, year, edition, pages
Stockholm, Sweden: KTH Royal Institute of Technology, 2017. 111 p.
Series
TRITA-INFRA-FMS-PHD, 2017:01
Keyword
Buildings, operational energy use, life cycle assessment, environmental certification, environmental assessment, renovation, strategy, design process, value creation, embodied environmental impacts
National Category
Environmental Management Building Technologies Architecture
Research subject
Planning and Decision Analysis
Identifiers
urn:nbn:se:kth:diva-201614 (URN)978-91-7729-284-5 (ISBN)
Public defence
2017-03-17, D2, Lindstedtsvägen 5, Stockholm, 09:30
Opponent
Supervisors
Funder
Swedish Research Council Formas, 2008-1816Swedish Research Council Formas, 2011-224EU, FP7, Seventh Framework Programme, FP7-ENV-2007-1
Note

QC 20170210

Available from: 2017-02-10 Created: 2017-02-10 Last updated: 2017-03-23Bibliographically approved

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