London’s ‘green’ offices are expensive. But they may help retain workers

Employee satisfaction is a big motivator for companies to go green, particularly as the U.K. faces its tightest labor market in decades.

Hiroshi Watanabe / Getty Images

LONDON — A fifth of the world’s biggest companies have committed to reaching net-zero carbon emissions, according to analysis by the Energy and Climate Intelligence Unit, and a large portion of those emissions come from the workplace.

Demand for sustainable offices is high, which means prices are, too. In fact, there is now a 26% gap in sale prices between London buildings with sustainability ratings from organizations such as BREEAM and LEED and those without, according to data from analytics company MSCI.

That’s known as the “green premium.” On the flip side, less environmentally friendly, typically older, buildings come with a “brown discount.”

That seems to leave company bosses and investors with a simple choice between lower overheads and lower emissions — but

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Mayor Adams Unveils Recommendations to Convert Underused Offices into Homes

January 9, 2023

Office Adaptive Reuse Task Force Builds on Adams Administration’s Efforts to Revitalize Central Business Districts and Expand Housing Supply With 11 Concrete Recommendations 

With Recommendations in Place Alongside Current Rules, Office Conversions Could Create Homes for as Many as 40,000 New Yorkers Over Next Decade

NEW YORK – New York City Mayor Eric Adams today unveiled recommendations from a city-led task force to facilitate the conversion of underused office space into new housing for New Yorkers. Crafted by the Office Adaptive Reuse Task Force, and led by New York City Department of City Planning (DCP) Director Dan Garodnick, the New York City Office Adaptive Reuse Study presents 11 concrete recommendations that would make changes to state laws and city zoning requirements in an effort to extend the most flexible conversion regulations to an additional 136 million square feet of office space — roughly the amount of office

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