Savills Starts Separate Unit For Green Properties
Samuel Han leads the department, which offers customised energy and sustainability solutions for property owners, tenants, and investors seeking to minimise operational expenses and embodied carbon emissions while keeping their assets relevant.
The establishment of the ESM department was a response to the heightened public consciousness regarding sustainability as well as the implementation of Singapore's Green Plan 2030, aimed at attaining net-zero carbon emissions.
As per Savills Q4 2022 Office Leasing Report, the new requirement for multinational tenants to comply with their respective country of origin's ESG standards has resulted in an upsurge in demand for green-rated Grade A offices.
Savills anticipates a 2% year-on-year (YoY) increase in overall gross rent for its basket of CBD Grade A offices in 2023 due to three reasons: the ongoing trend of shareholders and clients prioritising sustainability, the continuous growth of family offices establishing in Singapore, and the impact of inflation on the service charge component.
Samuel Han, Energy and Sustainability Lead of Energy & Sustainability Management, Savills says, “Whilst many asset owners, occupiers and real estate investors feel the urgency and demand for green properties, they may not understand how to get there. Our goal is to be their choice consultant to take them step-by-step to green their properties and achieve their sustainability targets. We drive progress through sustainable solutions and securing our tomorrow.”
"Since many companies operate in vertical silos or separate entities, embedding sustainable practices horizontally across regions and silos can be challenging. Often this starts with education, but leadership and a diplomatic approach are essential to ensure compliance while securing ‘buy in’ from different business units," comments Sam Crispin, Regional Head of Sustainability and ESG at Savills Hong Kong.
“Landlords should consider introducing green leases, which can promote mutually beneficial energy saving and waste reduction in collaboration with tenants. In much of Asia, the reality is that green leases may not be included in the legal documentation at all but be part of a voluntary arrangement between landlord and tenant. A more collaborative approach to landlord/tenant relations is important for both in meeting ESG goals," Crispin adds.
Marcus Loo, CEO of Savills Singapore, said: "With ESM onboard, Savills is empowered with more capabilities to provide a full suite of services to our clients, both local and overseas. ESM will be complementary to our other business lines as asset owners across multiple asset classes continue to grapple with challenges to reduce their carbon footprint and enhance the value of their assets in today’s world. This fits into Savills’ broader strategy to expand service offerings to meet the increasingly complex and varied demands of our clients.”
With nearly a decade of hands-on experience in the sustainability management industry, Samuel Han is the Energy and Sustainability Lead for the Energy & Sustainability Management department at Savills. He holds certifications as a Leadership in Energy and Environmental Design (LEED) Green Associate, Green Mark Accredited Professional (GMAP), and Singapore Certified Energy Manager (SCEM). Samuel's expertise includes providing end-to-end retrofitting services, Green Mark consultancy, energy monitoring systems design and deployment, detailed gap analysis for efficiency opportunities, and energy audits to advise and assist clients.
Savills has made a commitment to ESG and sustainability by striving to connect more individuals with eco-friendly properties. Through its provision of energy and sustainability management solutions, the company is helping its clients achieve their sustainability objectives and contribute to a more sustainable future. This effort aligns with the implementation of Singapore's Green Plan 2030, aimed at achieving net-zero carbon emissions.