Asia Pacific Corporate Real Estate Leaders Aim for 50 Renewable Energy by 2030

April 18, 2024

SINGAPORE - In an unprecedented move towards sustnability, a growing number of corporate real estate leaders across Asia Pacific m to power their office portfolios with renewable energy by 2030. According to a comprehensive survey conducted by JLL NYSE: JLL, approximately 75 of the surveyed business executives aspire for at least half of their commercial space to be fueled by sustnable sources of electricity.

The shift towards renewable-powered offices is not only driven by environmental concerns but also reflects strategic business interests, as highlighted by nearly four in ten corporate real estate leaders who expect that on-site renewable energy will become an essential component by 2030. However, they acknowledge the need for collaboration between landlords and tenants in areas such as shared access to renewable energy certificates RECs, power purchasing agreements PPAs, solar electricity generation through roof-mounted PV installations, and management of grid connections.

Across Asia Pacific, corporate real estate leaders are leading a green revolution with demands for more sustnable office environments, sd Kamya Miglani, Head of ESG Research at JLL. Incorporating renewable energy sources into their portfolios can not only mitigate long-term costs but also enhance sustnability commitments.

The feasibility and structure of integrating on-site renewable solutions dep largely on the specific conditions of each property. In close collaboration with JLL's experts, both landlords and tenants can explore various options for implementing solar photovoltc PV installations or entering into PPAs to secure renewable energy from third-party suppliers.

Accessing and generating green energy in commercial properties presents a unique opportunity to contribute to the wider electricity infrastructure, sd Elke Kornalijnslijper, Head of Sustnability Consulting at JLL. To achieve net-zero carbon targets, a comprehensive strategy encompassing both on-site and off-site renewable options is necessary.

As Asia Pacific accelerates its transition towards cleaner energy sources, the region continues to play a pivotal role in global growth trs. Notably, China forecasts a significant contribution, with over half of new renewable energy capacity additions anticipated in the next five years. This dynamic shift is being fueled by supportive policies, state incentives, corporate demand for green procurement and the growing competitiveness of renewable electricity.

Read more about this topic on our websitejll.com.

About JLL

JLL NYSE: JLL, a leading global commercial real estate firm with an annual revenue exceeding $20.8 billion in operations spanning over 80 countries, has been instrumental in helping clients navigate the world of real estate transactions and investments for more than two centuries. With our team of approximately 106,000 experts, we provide a full suite of services including leasing, management, development, investment and technology solutions across all asset classes.

For more information, visit jll.com.

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