PREI Uncovers $57M Through Sustainable Measures

NEW YORK CITY-While sustainability can often seem like an industry buzzword that lacks a clear definition, major corporations and commercial real estate companies are actively showcasing how it can positively impact investor returns. In a recent report released by Prudential Real Estate Investors, the real estate investment and advisory business of Prudential Financial Inc., the company adopted environmental policies that helped to add $56.4 million to the value of its global portfolios through sustainable initiatives, exceeding its self-imposed $50 million goal.

“We determined if we had something tangible that we could get our arms around, it would make it easier for people to understand what we were doing and it would be an easier story to talk to investors about,” David De Vos, Pru’s global director of sustainability, tells GlobeSt.com on creating the $50 million challenge. “We had a couple of things in the works, so I thought we’d have a pretty good idea where we’d end up for the year. The year was a rollercoaster. Some programs were executed, some not. But we created $50 million challenge with the intent of trying to add $50 million of value for sustainable initiatives. The way I calculated it, we came up $56.4 million – and we exceeded it by a little over 10%. Over the next 12 to 24 months, we plan to add $100 million in value.”