Runway East and Boodle Hatfield On Landlords' ESG Objectives

Natasha Guerra, CEO of Runway East, and David Rawlence, Partner at Boodle Hatfield, wrote for New Start about the role of landlords in meeting ESG objectives for the serviced office sector. As sustainability becomes even more important for building owners to consider, it is crucial that landlords take accountability for their environmental impact. The pair discuss Runway East's B Corp status, and completing the fit-out at Runway East Aldgate East (at The Hickman) to a Ska Silver rating.

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The pair write: "One immediate advantage for landlords is the alleviation of the need to perform extensive ESG assessments on potential providers. Knowing a serviced office provider has already met B Corp’s exacting standards provides confidence in the provider’s sustainability efforts. This is particularly crucial when considering frequent property modifications that come with changing occupancies, which can have significant environmental impacts with regular refurbishments and fit-outs.

Any B Corp certified provider should be looking to minimise or offset carbon emissions when adapting properties for changing tenants, which will ultimately reduce any increase in the building’s embodied carbon."

They continue: "Moreover, the looming 2030 Minimum Energy Efficiency Standards (MEES) will require properties to attain an energy performance standard of B or above, no easy feat. Engaging with a B Corp certified provider may minimise the challenge for landlords, as while they are not bound to the same legislation and targets, such providers will inherently aim for the most advanced energy efficiency and carbon emission reduction throughout a property’s lifecycle."

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The pair conclude: "While no certification is without its flaws, B Corp stands out as a beacon for genuine ESG commitment. For landlords, this certification can be a strategic tool, guiding their selection of partners who will not only operate within their spaces but also amplify their sustainability aspirations. In the intricate dance of real estate, choosing a B Corp certified serviced office provider might just be the perfect step forward."

You can read the full article here on New Start Magazine's website.