An initiative to tackle the harmful effects of commercial property on the environment is to be launched next week by a group of the sector’s leading organisations and corporate occupiers. Financial Times

The so-called 'environment code', which has the support of bodies such as the CBI, the employers’ organisation, and RICS, as well as companies such as Barclays and BP, aims to provide a single international benchmark to assess the impact of buildings on the environment.

Corporate property is estimated to be responsible for some 20% of global CO2 emissions, mainly via energy use, but also through waste and water production. About 50% of a company’s CO2 emissions are said to be produced by its real estate, making it a key target for tackling pollution under many corporate social responsibility programmes.

The code, to be launched next Tuesday at City Hall in London, has been formulated by IPD, CB Richard Ellis, and Bureau Veritas, the business consultant.