Sustainability and energy efficiency are more than just tools in helping save the environment. They’re proven ways that benefit company balance sheets, while also improving the wellbeing and productivity of those working in offices that have adhered to such practices. The importance of green components in real estate assets is even more stringent as buildings around the world account for nearly 40 percent of carbon dioxide emissions, according to the International Energy Agency.
Energy efficiency and energy conservation picked up steam in the last decade as a result of the economic downturn. In the early stages of real estate recovery, revenue was weak and the main way property owners could impact cash flow and increase property values was to reduce expenses. Focusing on energy consumption proved to be one of the best strategies to achieve this goal, and businesses started incorporating it in their office space search. A collateral surprise that resulted from investing in energy efficiency measures materialized into the impact this ‘green’ strategy had on the environment of these organizations, showing increased productivity and long-term business success. Below are the main benefits that come with leasing green office space:
Lower utility bills
Green office spaces feature upgraded building mechanical systems, including the HVAC system and elevators. They feed on renewable energy sources, use LEDs and motion sensors, reuse stormwater and have low-flow plumbing fixtures. These measures positively impact the quantitative pieces, resulting in energy reduction and water consumption reduction. Furthermore, the amount of natural light typically increases in green offices, further cutting the need for artificial light.
Increased productivity, recruitment and retention
Daylight alone increases productivity up to 18 percent, according to recent research. In addition, a Harvard study tracked 10 high-performing buildings across five U.S. cities to study the relationship between the conditions inside the building and the productivity and wellbeing of the occupants. The results showed that working in green-certified offices boosts cognition by up to 26 percent and sickness-related absences drop by 30 percent. The number one complaint workers have about offices is related to temperature extremes. Not having the ability to keep the temperature at an optimum level is also detrimental to the overall wellbeing and productivity of the employees, lowering it by 4 percent when it’s too cold and by 6 percent when it’s too hot.
Whether it’s a coworking space or a traditional office, a sustainable work environment helps companies attract and retain valuable employees. An increasing number of young professionals care about the environment and practice at least some green behavior at home, and they want to see it practiced by their employer.
Employee health and wellbeing
Air quality is a factor that impacts both the health of the people working in offices, as well as their productivity. Ventilation, filtration, thermal and lighting conditions, and availability of daylight views demonstrate a lower concentration of particles, nitrogen dioxide, and volatile organic compounds–chemicals that are common in building materials. According to researchers, proper ventilation improves workers’ performance by 11 percent.
Improved company image
Operating in a green office sends a powerful message to clients and competitors–that your company is forward-thinking and that it values its employees and the environment. If you work in the legal sector or operate in a financial services space, your reputation and company image are crucial factors in attracting clients. Opting for a green office can also play a big role in attracting and retaining a young workforce, as younger generations tend to place much more importance on sustainability practices.
Positive impact on the environment
Last but definitely not least, leasing green office space means joining the ranks of those who participate in saving the planet and that will benefit both the business itself and society. Continuous urban development, especially in already crowded cities like New York, has a massive impact on the environment. While there’s no way to reverse the damage that’s already been done, we can take steps to minimize our impact moving forward, and energy efficient buildings are one way to do that.
Are you thinking of setting up your business in a convenient location in Manhattan, and are looking to lease space in a modern building offering state-of-the-art amenities? Then reach out to us and we will show you worthwhile space situated right in the heart of New York City. To learn about available office space, call Metro Manhattan Office Space at (212) 444-2241 or email us at [email protected]