Search
 

PREI Uncovers $57M Through Sustainable Measures

NEW YORK CITY-David De Vos, Pru’s global director of sustainability, tells GlobeSt.com’s Jacqueline Hlavenka about how the company’s energy-efficient measures have translated to real cost-savings.

By Jacqueline Hlavenka | Updated on June 25, 2012

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.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.