Purpose – Sustainability in corporate real estate management (CREM) has been lately recognized as an integral part of almost every business. However, its perception might extremely differ in various industries. Sustainable CREM practices have been extensively analyzed in recent studies, yet real estate is an ambiguous field and the practices still lack holistic understanding. This research aimed to summarize and systematize the present sustainable CREM practices and propose a generic sustainability maturity model for CREM. Design/methodology/approach – The research process was implemented in accordance with the grounded theory approach. Research data were collected in semi-structured interviews with major Finnish companies, recognized for their environmental work. The scope of the research was nine interviews. Findings – The result of this research is the generic sustainability maturity model for CREM. It consists of 18 most typical sustainable CREM practices at the companies interviewed. The model demonstrates the value of implementing sustainable CREM. Originality/value – Sustainability maturity model for CREM is an indicative tool for sustainability maturity assessment in CREM. The model demonstrates how CREM contributes to company's sustainability and provides a holistic approach towards the existing sustainable CREM practices. Additional practical implications of the model include sustainable CREM benchmarking and communication with stakeholders.
Abstract:Purpose: Sustainability in corporate real estate (CRE) has been lately recognized as an integral part of business almost at every enterprise, however, its perception might extremely differ in various industries. Sustainable CRE practices have been extensively analyzed in recent studies, yet real estate is an ambiguous field and the practices still lack of holistic understanding. The aim of this research is to summarize and systematize the present sustainable CRE practices and propose a generic Sustainability Maturity Model for Corporate Real Estate. Methodology:Research process is implemented in accordance with Grounded Theory approach. Initial model is constructed based on findings from literature review and tested in interview session with some major Finnish companies, recognized for their environmental work. Theoretical sample of 10 companies is used for interviewees' selection.Findings: In the interviews, the most typical sustainable CRE practices are identified as components of the generic model. Structure of the model composes five maturity levels and six dimensions: resources, processes, commitment, communication, finance and strategy. The generic model contains 18 most typical sustainable CRE practices that explain the role of real estate at each maturity level.Originality/value: The generic model is an indicative tool for sustainability maturity assessment in CRE. It provides a holistic and systematic approach to the present sustainable practices and demonstrates how CRE contributes to company's sustainability. It might be applicable as self-assessment tool and as a benchmark because consists of the typical practices, pursued by the field leaders.
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