通过占领者的视角：重新思考2025年ESG优先事项

knightfrank.com.hk/researchMay 2025 | Rethinking ESG Priorities in the Office SectorGreen Premium50% of occupiers are ready for suchpremium for buildingsthat meetESG standards, indicating thatsustainable practices positively impactoccupier satisfaction and loyalty.10%UP TOIn the fast-evolving landscape of commercial realestate, Environmental, Social, and Governance (ESG)considerations have emerged as non-negotiable prioritiesfor many. As the demand for sustainable practicesintensifies, stakeholders—including investors, developers,and occupiers—are recalibrating their strategies to alignwith these values. This shift is not just about compliance; itis about resilience and long-term growth potential.This study is based on the Q4 2024 Occupiers ESGSentiment Survey of 153 office occupiers and Knight Frank’sKey FindingsKnight Frank’s office buildings analysis unveils 78% of the Hong Kong landlords have pledgesustainability, yetfive out of the 17 features assessed have adoption rates below50%, falling short of occupiers’ demands.Occupiers look beyond certifications, valuingsix top ESG featuresand new rising ESG features in rent and occupancy decisions—multinationals lead with a 20% edge onamenity focus.132More than half of the respondents believe ESG features influence their perceptions of rental values,and among them:Securityand AccessControlsIntroductionEnergy, Water andWaste ReductionSystems1These figures are based on responses to our survey conducted among Hong Kong office building occupiers. These percentages reflect occupiers’ perceptions of value associated with ESGfeatures, rather than guaranteed or definitive market outcomes. Brown Discount179% of occupiers expectrentalreductionsfor non-ESG-compliantbuildings, a stark warning that goinggreen is no longer optional—it’s amarket mandate.20%UP TOanalysis of 181 office buildings. It aims to explore how ESGfeatures influence rental pricing and occupancy choices,identify occupiers-prioritised features, assess marketavailability, and offer practical strategies for occupiersand landlords. Some 48% of surveyed occupiers aredissatisfied with current ESG performance. The findingshighlight a critical gap between occupiers’ expectationsand market realities, urging stakeholders to act to enhancesustainability and competitiveness.including traditional factorsRenewableEnergySourcesIndoor Air QualityMonitoringSystemsBuilding Managementand Smart ControlSystems 1 | Rethinking ESG Priorities in the Office SectorOur data underscores a clear expectation from occupiers:financial incentives are closely tied to sustainability.According to the responses collected from the 153 officeoccupiers, 58% of respondents believe ESG featuresinfluence their perceptions of rental values of Hong Kongoffice buildings.1. The Effect of ESG Features on RentalPricing: Occupiers’ PerspectivesOccupiers in Hong Kong show heightened awareness of office buildings withinadequate ESG performance, with 79% seeking brown discounts due to theseshortcomings. This underscores the vital importance for landlords to incorporateESG features into their properties to mitigate the risk of such discounts.21%29%50%expected rentaldiscounts forinadequateESG performanceexpected bothrental premiumsand discountsindicated willingnessto pay premiumsfor buildingsthat meet theirESG standardsFigure 2. Occupiers’ Expectation for ESG Driven Rental PricingYES 58%NO 42%Figure 1. Do ESG Features Affect Your Views on OfficeRents?•Additionally, 29% expect discounts for bothunderperforming buildings and premiums forESG-compliant ones, indicating a sophisticated,dual-pronged approach to rental valuations shapedby environmental, social, and governance factors.Martin WongSeniorDirectorHead of Research &Consultancy,Greater ChinaAmong these respondents who recognise the influenceof ESG considerations on rental, the survey reveals diverseexpectations:•Half of these respondents anticipate rental discounts forproperties with inadequate ESG performance, seekingfinancial compensation for sustainability shortfalls.•In contrast, 21% are willing to pay rental premiums forbuildings meeting their ESG standards, reflecting acommitment to sustainable investments. | Rethinking ESG Priorities in the Office SectorUp to 10% Green Premium & Up to 20% Brown DiscountAmong those willing to pay a premium for buildingsthat fulfil their ESG requirements,a majority indicatedthey would be comfortable paying no more thanan additional 10%. This indicates that while there isan appreciation for the intrinsic value of sustainablebuildings, occupiers are cautious about the extent of thefinancial commitment they are willing to make. Beyondthat,Multinational Corporations (MNCs) occupiershave revealed a stronger financial incentive to aligncorporate ESG goals, with 13% of them willing to considerpremiums exceeding 10%, whereas none of the localcorporations surveyed expressed a similar openness to suchpremiums.On the other hand,most occupiers expect browndiscounts equal t