ESG checklist: helping our clients make environmentally-conscious decisions about their workspaces

There is no denying the term “Environmental, Social Governance” (ESG) has become one of the buzz words of the decade, and with good reason. As such, we have created a check-list for our clients to use when assessing different flexible workspaces. The checklist has been designed to help our clients make informed, environmentally-conscious decisions when choosing a new workspace and we hope will prove an effective tool for our occupiers and end users.

As the effect that real estate has on our environment and society becomes increasingly clear, companies across the globe have escalated ESG to the top of their strategies in a bid to maintain the equilibrium of the world in which we live, work and play.

The flexible office sector is no stranger to this. Back in 2018, WeWork committed to becoming carbon neutral by 2023, promising to take a holistic approach to their impact by considering their impact on cities, communities and members. Fast-forward to 2020 and, thanks to a higher level of awareness sparked by public initiatives, Netflix documentaries and the not insignificant matter of a global pandemic, ESG is no longer just a corporate issue; everyone has a part to play.   

As a flexible office provider, the amount of advice and suggested ways in which to provide an ESG-friendly workspace can be overwhelming at times but can, however, be broken down into categories which allow for a systematic approach.

The building or workspace itself naturally plays a fundamental part in maintaining an environmentally-friendly location. Everything from the way in which waste is disposed of, what the recycling rate is and how much rubbish ends up on a landfill site can be measured. In terms of the energy used, regular audits should be carried out to assess whether any changes can be made to improve the efficiency of the energy being used. In addition to this, water consumption is also a factor with rainwater collection stations becoming a common feature of flexible office spaces to limit water wastage.

The building must also adhere to the requirements set out for certain accreditations (such as BREEAM, LEED etc.) which, as the real estate sector becomes increasingly aware of its role to play in slowing the rate of climate change, will become even more of a prevalent necessity.

The focus on the end user is also something to consider. How the conversation about commitment to ESG is conveyed not only in the office but also as part of the marketing materials produced and in terms of brand awareness is also incredibly important. Providing members with adequate facilities through which to boost their physical and mental wellbeing is something providers are becoming more and more attuned to. This is often as simple as initiatives such as providing bike storage, exercise classes, meditation spaces and access to fresh air. Alongside incentives for sustainable travel as well as health and wellbeing certifications, each part of the flexible food chain has its part to play.

These commitments to ESG may seem insignificant by themselves, but together add up to create a significant impact on the wider environment outside the building itself. The flexible office sector has a duty of care not only to the wider real estate industry, but also to the community and city in which is sits. Whether these initiatives are basic requirements or whether they showcase the very best in sustainable practice, we must encourage the conversation and do our bit for the wider world in which we live.