Real estate-related assets account for about 40% of global CO2 emissions, which means companies cannot get a handle on their ESG impact without understanding their owned and leased real estate footprint. Joe Fitzgerald of Visual Lease offers tips for leveraging lease management to create a more sustainable future.
A staggering 99% of senior real estate executives believe it is important for their organization’s future leases to help reduce its carbon footprint. But without visibility into the current environmental impact of their owned and leased assets, businesses cannot reasonably set accurate, achievable sustainability goals.
Thankfully, the introduction of the lease accounting standards (ASC 842, GASB 87 and IFRS 16) shined a light on the need for strong lease management — a process that remains critical to sustaining lease accounting compliance. And given that nearly 40% of global carbon dioxide emissions originate from real estate-related assets, proper lease management is an organization’s entry point to not only measuring and reporting on their environmental impact but also, understanding how to make improvements for a more sustainable future.
As the landscape of ESG reporting continues to evolve with the introduction of global sustainability disclosure standards from the International…
