Eres : Digital Library : Works

Paper eres2017_517:
Decomposing the Value Effects of Sustainable Investment: International Evidence

id eres2017_517
authors Devine, Avis; Eva Steiner, Erkan Yonder
year 2017
title Decomposing the Value Effects of Sustainable Investment: International Evidence
source 24th Annual European Real Estate Society Conference in Delft, Netherlands
summary We provide the first systematic, international decomposition of possible financial benefits of sustainable real estate investment on corporate performance metrics across the two leading country-markets in terms of sustainable property certifications. In the UK, where a baseline level of environmental reporting is mandatory, listed property companies benefit somewhat from investments in sustainability-certified properties through higher cash flow and valuation outcomes. In the US, which features no requisite reporting, the benefits of sustainable investment are stronger and comprise distinct cash flow, risk, information and corporate valuation effects. Our results suggest benefits of improved transparency and benchmarking from environmental performance reporting.
keywords real estate investment trusts; sustainability; energy efficiency; valuation effects
series ERES:conference
type paper session
discussion No discussions. Post discussion ...
ratings
session Sustainable Real Estate
last changed 2017/11/18 16:20
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