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Using a unique data set, the purpose of this paper is to test the hypothesis that tenants pay increased accommodation costs for space in energy efficient office property.

The authors obtain lease contracts for office space in central Sydney, Australia. Empirical data on annual gross face rent and contract terms from each lease are combined with building characteristics and measured energy performance at the time of lease. Hedonic regression isolates the effect of energy performance on gross face rent.

No significant price differentials emerged as a function of energy performance, leading to a conclusion that tenants are not willing to pay for energy efficiency. Six factors – tenancy floor level, submarket location, proximity to transit, market fixed effects, building quality specification and, surprisingly, outgoings liability – consistently explain over 85 per cent of gross face rent prices in Sydney.

Rent premiums from an asset owner's perspective could emerge as a result of occupancy premiums, market timing or agent bias combined with statistically insignificant rental price differentials.

Tenants are likely indifferent to energy costs because the paper demonstrates that energy efficiency lacks financial salience and legal obligation in Sydney. This means that split incentives between owner and tenant are not a substantial barrier to energy efficiency investment in this market.

This study is the first to thoroughly examine energy efficiency rent price premiums at the tenancy scale in response to disclosure of measured performance. It also presents evidence against the common assumption that rent premiums at the asset scale reflect tenant willingness to pay for energy efficiency.

This paper aims to propose a decision support tool that would aid decision-makers to implement energy-saving measures efficiently in a corporate real estate.

The tool consists of a system dynamic model that allows describing and quantifying the complex interaction between potential maintenance scenarios, external energy factors and case-specific conditions. In addition, to include the uncertainty of some of the input variables related to the external energy factors, Monte Carlo simulation has been applied.

A case study of a city hall in The Netherlands showed the usability of the proposed tool. Over the selected period of 20 years, applying the chosen set of interventions, the simulation showed possible gains in the net present value and significant decrease of energy consumption and carbon emission. Municipal officials and consultants verified the tool for energy efficiency.

Although the tool has proved its functionality in one case study, to test its robustness, additional case studies would be preferable.

The assessment tool can help organizations in assessing energy-efficient maintenance scenarios that include multiple technical energy efficiency interventions as a part of other maintenance activities.

There are numerous ways to increase building’s energy efficiency, but a lack of knowledge is often hindering the enhancement of maximal benefits. A tool that would assess both financial and environmental benefits of potential technical intervention would provide useful insights into corporate’s real estate current and possible future energy performance. This would aid corporations in making better decisions regarding finances, and on the long run, it will bring an improved corporate image.

The purpose of this paper is to analyze a successful sustainability program run by an owner that has invested $23 million, received rebates of $10 million, accrued over $9 million of savings and has won top scores in LEED and Energy Star. Other owners planning to invest in energy conservation and sustainability can apply the lessons learnt to overcome common barriers.

This case study is based on project information supplied by the owner and structured interviews with the operational team. The projects are analyzed based on drivers and payback characteristics. Finally, the case study puts Adobe Systems' results within the context of the industry by matching it to the challenges identified in other reports.

The results show that 40 percent of projects are initiated by operation management personnel. The projects with the biggest savings are supported by third-party incentives. Only 10 percent of projects are evaluated by simulation and account for 12 percent of annual savings. Energy Star plays a crucial role for benchmarking performance and should be run annually. LEED EB is valuable when expending conservation efforts beyond energy aspects to sustainability. Performance benchmarking is a crucial step to determine the potential and priority of energy improvements.

The findings are based on the three towers in San Jose, California.

Building owners can incorporate the methodologies applied to evaluate these successful projects into their buildings. Facility managers can leverage the findings to present the advantages of recertification and commissioning.

A detailed project analysis, from a leader in practice, shows the importance of the local building operations team in sustainability and energy conservation.

The purpose of this paper is to investigate how the dc-link voltage for the converter of a wind generator should be selected, i.e. to determine the losses in the generator and the converter when using various dc-link voltage levels.

To presents the efficiency evaluation of 5 MW wind turbine generating systems, two 5 MW surface mounted permanent magnet synchronous generators (PMSG) with medium and low rated voltage is designed. A two-level transistor converter is considered for ac/dc conversion. Three different dc-link voltage levels are used. By using these voltage levels the PMSG is utilized in slightly different ways.

It is found that the system with the lower voltage machine has slightly higher annual energy efficiency compare to the higher voltage system. Furthermore, it is shown that the best choice for the dc-link voltage level is a voltage between the minimum voltage which gives the desired torque and the voltage which gives Maximum Torque Per Ampere.

A procedure as well as investigations with quantified results on how to find the highest complete drive system efficiency for a wind turbine application. Based on two given PMSG, the most energy-efficient dc-link voltage has been established.

About 27 per cent of the total UK carbon emissions are attributed to residential buildings; therefore, improvements to the energy efficiency of the stock offers great potential. There are three main ways to achieve this. First is a mandatory approach, minimum energy efficiency standards are set and applied to new and existing buildings. Option 2 is voluntary, using energy ratings that classify performance to stimulate awareness and action. Third, financial measures, incentives and taxes, are applied to “nudge” behaviours. Most westernised countries have adopted a combination of Options 2 and 3, with the belief that the market will incentivize efficient properties. The belief is voluntary measures will stimulate demand, leading to value premiums. This paper aims to seek a deeper understanding of the relationship between energy efficiency and the value of residential property in Europe and, by so doing, to determine whether stronger policies are required to realise decarbonisation.

This paper reviews the current academic literature and large-scale quantitative studies conducted in Europe, mostly using hedonic pricing analysis to seek a relationship between energy performance certificates (EPCs) and either capital or rental values. It compares these to the reported findings of three case study projects that take a variety of different research approaches, all of which have the ambition to understand market behaviours and stimulate occupier or/and owner demand for energy efficient buildings.

The large-scale academic study results generally show a positive relationship between observed market prices and EPCs, which are commonly taken as surrogates for efficiency; however, outcomes are variable. One large study found energy upgrades may increase value, but not to the point where costs outweigh the value gain. Other studies found high returns on investment in energy efficiency technologies. The case study projects, however, revealed a more nuanced set of arguments in terms of the relationship between energy efficiency and market behaviours. Whilst there is some evidence that energy efficiency is beginning to impact on value, it is small compared to other value drivers; other drivers, including health, well-being and private sector finance deals, may prove more powerful market drivers. Further, the empirical findings reported point towards the emergence of a “brown” discount being more likely to be the long-term trend than a green premium. It is concluded that the current levels of action are unlikely to deliver the levels of decarbonisation urgently needed.

This is a desktop study of other European studies that may have collected data on slightly different variables.

This study shows that more action is required to realise decarbonisation in new and existing residential property in the European states considered. The sector offers potential for substantial reductions, and other mandatory approaches need to be considered.

This is a timely review of the current outcomes of European programmes (EPCs) adopted in several countries to increase energy efficiency in the residential sector through a voluntary mechanism. The results show that more action is needed.

This paper aims to primarily analyzing the state and pattern of current energy benchmarking progress on commercial buildings since the New York City’s energy disclosure law, Local Law 84: Benchmarking has been implemented. It then compares the yearly benchmarking progress of Leadership in Energy and Environmental Design (LEED)-certified and non-LEED-certified buildings as well as ENERGY STAR-certified and non-ENERGY STAR-certified.

For thorough analytics, the authors combined and examined four sources of data: New York City Local Law 84: Benchmarking, Primary Land Use Tax Lot Output, US Green Building Council and US Environmental Protection Agency. The data sets were combined using two primary keys: the Borough, Block, Lot (BBL) number and the building address. Four years of energy use intensity values were obtained and normalized by shrinking the range of deviance in weather.

The findings indicate a significant improvement in the benchmarking progress when controlling building size, building type, year of construction or the most recent renovation and the presence of renovation. Interestingly, there is no significant difference in the energy benchmarking progress between LEED- and non-LEED-certified buildings. Possible reasons are explored and discussed.

From a methodological perspective, the study benefited from data disclosure as well as open data sources and used secondary data with a relatively large sample size. Many studies in the construction industry are based on the case-study approach, which may affect generalizability and causality of research findings. This unique approach illustrates the potential of secondary data analysis in the industry.

The study investigates the effects of energy resource efficiency on the triple themes of sustainable development (economic, social and environmental dimensions). We adopt a quantitative research method, and the required macroeconomic data were extracted from World Development Indicators for a period of 30 years (1991–2020). The extracted data were analysed using correlation analysis and linear regression. Ultimately, the estimations from the three models produced mixed results. Energy resource efficiency (EFF) exerts a significant positive effect on economic sustainability (ECS), a significant negative effect on social sustainability (SOS) and a significant negative effect on environmental sustainability (EVS). However, claims on government (COG) exerted an insignificant negative effect on ECS, an insignificant negative effect on SOS and a significant positive effect on environmental sustainability (EVS). In practical terms, the findings are consistent with previous empirical studies, and they also validate X-efficiency theory (XET) and resource curse theory (RCT). The study concludes with implications, limitations and further research directions.

At the 21st Conference of the Parties to the United Nations Convention on Climate Change (COP 21) in Paris, 195 governments reached an agreement pivotal not only for countries but also for companies. The Paris Agreement makes it impossible to practice business as usual. The transition to a low-carbon coffee industry could be achieved by fostering corporate sustainability. Accordingly, the purpose of this paper is to provide empirical evidence of how to adopt the principles of Paris Agreement by enhancing the corporate sustainability of a Mexican coffee-roaster company using the inventory phase of the life cycle assessment tool.

The data collection process followed the requirements of the International Reference Life Cycle Data System Handbook, developed by the Institute for Environment and Sustainability in the European Commission Joint Research Centre, and data on packaging materials and energy production were drawn from a commercially available database in the LCA software SimaPro.

Compiling data on the energy of the firm’s material flows in a firm revealed opportunities to improve energy efficiency and to reduce greenhouse gas emissions. The results of the inventory analysis can be used to evaluate the specific environmental impacts of the coffee-roasting process at this Mexican coffee company. Data compilation activities for energy flows identified the need to install liquefied petroleum gas measuring devices and individual measuring devices for electricity consumption in different areas of the coffee plant. It is recommended that, while implementing this option, the company also develop an energy management program to achieve energy efficiency.

The inventory data in this case study permit comparisons of the current state of the system studied and its possible future states and offer stakeholders relevant information on resource use. Similarly, the project results provide the basis for future research on environmental performance in the coffee industry in Mexico and for the development of policies regarding the production process in the coffee supply chain. Consequently, this research can help fulfil Mexico’s commitment to the Paris Agreement.

Reaching the goal of the Paris Agreement will require gathering key information for each single company. The current case study has provided key data to foster the principles of sustainability in the Mexican coffee industry to help this sector to transit toward sustainable development, which is a new demand of the Mexican society. Even though it may seem simple, this is the hardest step for enhancing stakeholder involvement in corporate sustainability.

The main contribution of this research to science and practice is to confirm that fostering corporate sustainability is easier and more feasible when energy flow information is available.

Automated body condition scoring (BCS) through extraction of information from digital images has been demonstrated to be feasible; and commercial technologies are being developed. The primary objective of this research was to identify the factors that influence the potential profitability of investing in an automated BCS system.

An expert opinion survey was conducted to provide estimates for potential improvements associated with technology adoption. A stochastic simulation model of a dairy system, designed to assist dairy producers with investment decisions for precision dairy farming technologies was utilized to perform a net present value (NPV) analysis. Benefits of technology adoption were estimated through assessment of the impact of BCS on the incidence of ketosis, milk fever, and metritis, conception rate at first service, and energy efficiency.

Improvements in reproductive performance had the largest influence on revenues followed by energy efficiency and then by disease reduction. The impact of disease reduction was less than anticipated because the ideal BCS indicated by experts resulted in a simulated increase in the proportion of cows with BCS at calving 3.50. The estimates for disease risks and conception rates, obtained from literature, however, suggested that this increase would result in increased disease incidence. Stochastic variables that had the most influence on NPV were: variable cost increases after technology adoption; the odds ratios for ketosis and milk fever incidence and conception rates at first service associated with varying BCS ranges; uncertainty of the impact of ketosis, milk fever, and metritis on days open, unrealized milk, veterinary costs, labor, and discarded milk; and the change in the percentage of cows with BCS at calving 3.25 before and after technology adoption. The deterministic inputs impacting NPV were herd size, management level, and level of milk production. Investment in this technology may be profitable but results were very herd‐specific. A simulation modeling a deterministic 25 percent decrease in the percentage of cows with BCS at calving ≤3.25 demonstrated a positive NPV in 86.6 percent of 1,000 iterations.

This investment decision can be analyzed with input of herd‐specific values using this model.

The main purpose of the Dubai Electricity and Water Authority (DEWA) sustainability case is to allow students to explore how nonfinancial information reported in sustainability plays a vital role in maintaining a trade-off between current economic pressure and future environmental needs.

This is an exploratory study in nature using a qualitative case study approach. The case requires an examination of DEWA's sustainability reporting (SR) in the context of Global Reporting Initiatives (GRIs). This case is designed to assist students in gauging DEWA's sustainability and explore how the company evaluates the materiality of sustainability issues.

With stakeholders' and investors' increased interest in sustainability, the authors argue that accounting programs should incorporate this topic into their curricula. The case enables students to focus on sustainability-related initiatives with DEWA that are aligned with GRI initiatives. The case might be instructive for both undergraduate and postgraduate students studying environmental and management accounting.

This case study is the first of its kind in the Gulf Cooperation Council (GCC) region to comprehensively analyze DEWA's sustainability practices concerning GRI-based SR. This study widens the understanding of DEWA's implementation of GRI standards in the preparation of its sustainability reports.