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Green Agenda and Green Performance - Is there a link

Author

Listed:
  • Marcelo Cajias
  • Peter Geiger
  • Sven Bienert

Abstract

A green agenda turned into a growing subject throughout an increasing number of European listed real estate companies over the last decade. However, the focus on sustainability is probably not only goodwill or partly legislation driven, instead moreover a benefit driven action to achieve a financial surplus. Following the guidelines of the European Public Real Estate Association and the Global Reporting Initiative we identified the key factors which should be included into a real estate green agenda. The investigation of European listed real estate companies in accordance with the key factors enables us to classify firms across different levels of Sustainability intensity. Additionally, we extracted the financial performance of the categorised firms in order to examine the benefits of a green agenda. After controlling for all other factors we applied a panel analysis to quantify the impact of a high qualitative green agenda and tried to illustrate the possible linkage between green commitments and its financial impact.

Suggested Citation

  • Marcelo Cajias & Peter Geiger & Sven Bienert, 2011. "Green Agenda and Green Performance - Is there a link," ERES eres2011_241, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2011_241
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2011-241
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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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