TOWARDS A GREEN PROPERTY MANAGEMENT FRAMEWORK FOR GREEN

TOWARDS A GREEN PROPERTY MANAGEMENT FRAMEWORK FOR GREEN CERTIFIED BUILDING IN MALAYSIA

Sr Dr. Kho Mei Ye (Project Leader) 

Prof. (K) Sr Dr. Anuar Alias 

Dr. Teh Bor Tsong 

Dr. Sik Cheng Peng 

Dr. Ainee Binti Adam 

(University Malaya)

INTRODUCTION

Sustainable development has become a priority in the real estate sector worldwide, given that buildings contribute nearly 40% of global carbon emissions and significant resource consumption (Ionașcu et al., 2020). In response, Environmental, Social, and Governance (ESG) principles are increasingly recognized as critical to property development and management. Integrating ESG criteria from energy efficiency and carbon reduction (environmental), to health, safety, and community engagement (social), to transparency and ethical governance (governance) enables property management practices to support broader sustainability goals while enhancing asset value and resilience. Globally, the past decade has seen a surge in sustainability regulations and investor expectations. ESG reporting requirements have grown sharply; for example, the European Union’s Corporate Sustainability Reporting Directive (CSRD) and new international standards (e.g., IFRS Sustainability Disclosure Standards) are raising the bar for corporate transparency. Yet a gap between awareness and action persists: a recent survey by Jones Lang LaSalle (JLL) found only 18% of large firms had a decarbonization plan for their real estate portfolios (JLL, 2022). This underscores the need for clear frameworks to guide ESG integration in property management.