Sustainable Green Business Parks

Why Sustainable, Green Business Parks are the Future

Sustainable, green business parks are on the rise. We explore why ‘going green’ is so vital and why its importance is set to increase.

As the awareness and impact of global warming grows, business parks should have a good look at how environmentally-friendly their facilities and operations truly are.

There are plenty of good reasons to increase sustainability and green initiatives within business parks. These range from the chance to improve relationships with tenants and their customers to reaping the benefits of cost savings. Here we explain why going green is the only way forward.

The green difference

As the world awakens to climate change, responsibility lies with all businesses to minimise their impact on the environment. This goes for commercial property owners as well as the tenants. Securing essential trade accreditations requires demonstrating strong, statistically backed environmental commitments. Also, it’s increasingly weighted when securing new business contracts, and to differentiate a company from competition. Businesses can no longer ignore their environmental responsibilities. Additionally, they can use their sustainable credits as a useful tool to promote their offerings.

Large sites such as business parks have ample opportunities to lead the way in making highly impactful changes that will contribute to protecting the planet, whilst at the same time improve relationships with tenants and, by extension, their customers.

Reap long term benefits

Taking steps towards sustainability often requires initial investment. However, there are financial initiatives available to support businesses in reducing carbon output, plus reliefs or exemptions from certain taxes if you meet the criteria. Businesses should also consider the repercussions and lost opportunities of not making green commitments.

Using less fuel and electricity means that going green will be more sustainable and cost effective in the long run. Additionally, renewable energy costs will become less expensive than fossil fuels in the near future. In fact, we expect the amount of money large sites save by becoming greener to increase over the years.

Sustainable business parks attract talent

A recent survey by Swytch revealed that Gen Z and Millennial employees are more likely to accept a job offer or stay loyal to greener companies. “Over a third” of this demographic said it would be “a deal breaker for them to work for a company that does not have a strong sustainability culture.” The results suggest that sites that work towards becoming more sustainable will be able to attract and retain top talent.

Not only do greener work spaces attract this talent, but it also helps to use it to its best ability. Working in green environments has been proved to reduce stress levels and boost various aspects of thinking, including attention, memory and creativity.

Green enables premiums

Sustainable, green business parks also enable property owners to generate more money from their portfolios. Businesses keen to promote their green credentials are willing to pay a premium. In London, buildings that achieve the highest standards in sustainability can achieve up to a 12.3% premium in rents, according to a research from property advisor Knight Frank.

With more government initiatives to encourage businesses to grow greener, such as tax reductions and funding for eco-friendly technology, it may also become a financial choice for tenants to base their business on a site that already has eco-friendly facilities, saving them from having to invest further themselves to make changes.