ESG进入“价值深挖期” 企业资源投入正趋于理性

Core Insights - Sustainable development has transitioned from being an optional enhancement to an essential part of corporate operations and strategy [1] - Nearly 90% of real estate companies in the Asia-Pacific region have established dedicated sustainability roles, with 70% being full-time positions, reflecting a 10 percentage point increase over the past two years [1][2] - The shift indicates that sustainable practices in the Asia-Pacific real estate sector are entering a "mature and prudent" phase, with green building certifications becoming standard rather than premium offerings [1][6] Group 1: CSO Role and Corporate Strategy - The survey indicates a dual increase in the prevalence and maturity of Chief Sustainability Officer (CSO) roles, with over 60% of companies having established this function three years ago, and 40% for over five years [2] - Companies are shifting towards long-term, systematic strategies for sustainability, necessitating cross-departmental collaboration for carbon reduction, energy efficiency, and green supply chain management [2][3] - The real estate sector is projected to have an ESG disclosure rate exceeding 60% by 2025, highlighting its status as one of the industries most focused on ESG [2] Group 2: Investment and ROI Considerations - Companies are becoming more rational in resource allocation, prioritizing sustainable practices that yield clear financial returns [3] - CSOs must demonstrate the return on investment (ROI) for ESG projects to secure approval, emphasizing the need for integration of ESG strategies with overall business strategies [3] Group 3: Net Zero Goals and Market Dynamics - While 2050 remains the most common net zero target among property owners in the Asia-Pacific, 53% of tenants are aiming for 2030, with Australia leading at 70% [4][5] - Legislative pressures, such as mandatory climate-related risk disclosures, are driving companies to align their emissions reduction goals with broader value chains [4] - Institutional investors in Australia are increasingly demanding adherence to ESG investment guidelines, further influencing the market dynamics between tenants and property owners [5] Group 4: Green Building Certification Trends - The motivation for property owners to pursue green building certifications is shifting from seeking rental premiums to maintaining competitiveness and occupancy rates [6] - The coverage of green buildings in the Asia-Pacific is expected to rise from 44% in 2023 to 51% in 2024, with Australia, Singapore, and Japan achieving rates as high as 80% [6] - In China, the number of new LEED-certified projects is projected to increase by 18.91% year-on-year in 2024, driven by government incentives and carbon neutrality commitments [6][7] Group 5: Market Implications of Certification - The value proposition of green building certifications is evolving, with a decline in tenants' willingness to pay premiums for certifications, while "brown discount" phenomena are becoming more pronounced [7] - Non-certified buildings are facing significant rental declines and valuation impacts, particularly in key markets like Beijing and Shanghai [7]