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Jones Lang LaSalle supporting EPRA as Expert Adviser on Sustainability Reporting Best Practices Recommendations

Jones Lang LaSalle, acting as an expert adviser to the European Public Real Estate Association (EPRA), has recently supported  EPRA in the development of Best Practice Recommendations (BPR) on sustainability reporting. The BPR will assist the European listed real estate sector in their sustainability disclosure efforts and are being launched at EPRA’s Annual Conference at London’s Landmark Hotel on 1 and 2 September 2011.

Jones Lang LaSalle is also launching a Technical Guidance Note in collaboration with EPRA in order to help companies understand the BPR on sustainability reporting through practical examples. 

Commenting on the launch of the BPR and the Technical Guidance, Matthew Tippett, Director in Jones Lang LaSalle’s Energy and Sustainability (ESS) team, said; “Sustainability reporting places sustainability firmly on the boardroom agenda. We hope that our work with EPRA in this area will provide an incentive for companies to take voluntary action in this important area.”

Gareth Lewis, Finance Director at EPRA and lead on the project, added: “One of the key findings from consultation with our members was the breadth and range of practice in sustainability disclosure in the real estate sector, which we felt was hindering robust company sustainability reporting.  This is a timely intervention in light of growing acceptance that the real estate industry has a leading role to play in the fight against business critical global environmental challenges such as climate change.”

The practice of voluntary sustainability reporting has become increasingly common in Europe in recent years particularly among larger listed real estate companies. Research by Jones Lang LaSalle found that for the 2010 reporting year, 38 per cent of the EPRA members produced some form of corporate sustainability disclosure. An area of growing policy debate over the past few years has been the potential introduction of mandatory sustainability reporting regulation at EU level and across member states.  This important new development has potentially significant implications for all European listed real estate companies from the perspective of corporate reporting to investors and analysts, particularly those who have not yet published a sustainability report.

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Notes to Editors

About EPRA:
EPRA aims to provide European public real estate companies with effective and continuous leadership in matters of common interest. EPRA will encourage discussion of issues impacting the industry both within the membership and with appropriate Governmental and regulatory bodies.  EPRA will endeavour to develop policies concerning standards of reporting disclosure, ethics and industry practices. Although not a disciplinary body, EPRA will actively encourage adherence to these policies.  EPRA will sponsor and publish research, analysis for the benefit of members.