Environmental commitment seals value buildings

In times of high ESG (environmental, social and corporate governance) policies, it is not enough to be sustainable, you have to look sustainable. Certifications that attest to the good use of natural resources in construction are gaining more importance for real estate funds and for companies that need to choose their office.

The Leed sustainability seal, granted by the GBC (Green Building Council) Brazil, is the most used by the market, but there are also others, such as the Aqua-HQE, an adaptation of the French seal, granted by the Vanzolini Foundation (see below).

“The certification is the guarantee that what is being claimed was seen in a systematic way by qualified people”, says Manuel Carlos Martins, coordinator of the Aqua seal.

In addition to the benefit for the company’s image, the presence of a sustainability certification is an indication that the building can be more profitable for investors, according to experts.

According to Roberto de Souza, president of the CTE (Centre for Building Technology), which provides consultancy for certification, the reduction in energy and water consumption can be from 30% to 40%, which makes a difference in the value of the condominium.

The savings provided can be reflected in a more expensive lease per square meter. A study carried out in 2014 by researchers from FGV (Fundação Getulio Vargas) pointed out that the presence of certification was responsible, in an isolated way, for an increase of 4 to 8% in the amounts charged for the lease of corporate commercial buildings in São Paulo.

Roberto Perroni, director of real estate at Brookfield, which builds and manages commercial buildings in Brazil, says that more than a differential to increase the rental price, certification is a tie-breaking criterion when a company chooses where to set up its office or distribution center, which reduces the vacancy rate of these buildings.

This analysis is supported by Mariana Hanania, director of research and market intelligence at consultancy Newmark. According to her, certified buildings in São Paulo have an average vacancy rate of 10%, while the average stock in the city, for the same standard, is 14%.

Therefore, for Perroni, the presence of buildings with a sustainability certificate in the portfolio should be one of the evaluation criteria for those who decide to invest in real estate funds.

“There are many people who analyze what is yielding the most, but they also have to look at the ballast that this fund has for generating income in the long term”, he says. “[A presença do selo Leed] It’s one of the items you look at that shows that the building is energy efficient and attracts first-rate occupants.”

Of the manager’s 15 buildings, 14 have certificates. The only one without the seal, in Rio de Janeiro, should be sold soon.

In the universe of high-end offices, known as AAA, having a sustainability certificate is a prerequisite. “There is no longer AAA building that is developed and implemented that does not certify, because otherwise it starts with the asset already undervalued”, says Manoel Gameiro, director of Ecoquest, an air quality consultancy, and former director of GBC Brazil.

Sustainability seals arrived in Brazil in 2007 and are more present in new buildings, but it is also possible to certify old buildings. What changes is the type of seal. When the building is ready, you can try an operation seal, such as Leed O&M and Aqua cycle operation, which are renewable.

Having a certified building requires investment in materials with less environmental impact, as this item is also analyzed, and in technology. Sensors help to quantify electricity and water usage and assess air quality, for example.

Building automation helps reduce the use of these resources and adapts the building to new situations, such as when the pandemic started and most employees stayed at home.

Souza emphasizes that certifications help to create a culture of sustainability within the construction production chain, which is forced to innovate to achieve the goals of saving natural resources.

The evolution of technology allows stamps to be more demanding. An example is the Zero Energy certificate, created by GBC Brasil, for buildings that generate all the energy they consume.

As Felipe Faria, executive director of the entity, says, there are already 20 certified buildings and 75 more are in the process of obtaining the seal.

In addition to sustainability certificates, there are specific seals on the well-being and health of building occupants, such as the Well and Fitwell, which have gained more attention with the pandemic.

These certificates analyze ergonomics, encouragement of physical activity, the presence of spaces for decompression and the quality of air and water, among other items. “Four years ago, there was no relevant demand for a seal of well-being, but in the pandemic, an important change began to be noticed”, says Gameiro. “We will have to find a balance between making a building sustainable and one that guarantees health and well-being for the occupants.”

Brookfield is also certifying its buildings with the Well. Souza and Gameiro see this type of seal as a new front for competitive differentiation.

Logistical condominiums can also be certified, but they are behind corporate buildings in this process. For Perroni, one of the reasons is that the image of companies is much more linked to their offices than to logistics warehouses.

Commercial office buildings, for smaller companies and professionals, are also far behind in the certification. According to Faria, this is explained by the difference in audience between these rooms and high-end corporate slabs, since large companies are more subject to ESG charges. “It may be that, in the view of the developer, there would be no competitive differential for the audience of the rooms”, he says.

Since the beginning of certifications, the payback time on construction investment has been decreasing. If it used to take six years to compensate for the expenses with building improvements, today it is possible to obtain a return in a year and a half or two years, analyzes Souza.

Discover the main certificates

SORROW

– The Leed seal (leadership in energy and environmental design), granted by the GBC (Green Building Council) Brazil, is of American origin and is used in commercial buildings
–Analyzes items such as the location of the building and access to public transport, materials used in the work, efficiency in the use of water and energy and quality of the internal environment
– There are four certification levels: certified, silver, gold and platinum, depending on the score obtained
– There are 1,712 buildings registered to receive certification, with 748 already certified
– GBC Brasil also has other seals, such as Zero Energy, for buildings that generate all the energy they demand; there are 75 buildings registered to receive this seal, 20 of which have already been certified

AQUA

– The Aqua-HQE seal (High Environmental Quality), has French origins and was adapted to Brazil; is granted by the Vanzolini Foundation, linked to professors at the Polytechnic School of USP
– The certification analyzes the materials used in the construction, the impact of the construction site, the energy and water efficiency of the building, waste management and thermal, acoustic, visual and olfactory comfort, among other items
– There are 292 certified non-residential buildings, which include corporate buildings
– The seal is also popular among residential constructions, with 457 certified

44%

of the corporate slabs in the main office regions of São Paulo has some type of certification
146

buildings are certified in the city, out of a total of 687, from categories AAA to B
27%

is the reduction in the volume of vacant square meters in certified buildings, in São Paulo, in relation to those that do not have seals

Source: GBC Brasil, Vanzolini Foundation and Newmark real estate consultancy