CBRE Group, Inc.. has launched the Real Green Research Challenge (RGRC), a four-year, $1 million commitment to fund leading-edge sustainability research and innovation relating to commercial real estate.
The program was unveiled yesterday (Tuesday) at The Climate Group’s Climate Week NYC.CBRE is accepting submissions for research proposals, with the goal of developing solutions to the industry’s critical environmental challenges.
“We’ve seen growing market awareness of commercial buildings’ impact on the environment,” said Bob Sulentic, CBRE’s president. “This has inspired new thinking and innovation in sustainability research. However, people with good ideas often lack financial support and access to real-time market data and insight into building construction, occupancy and management that only a global firm like CBRE can provide.
“Our RGRC program will help to unleash innovation by connecting ideas with funding and with CBRE’s unparalleled information and people resources.”
Over the next four years, CBRE will award up to $1 million to fund independent academic research into sustainable real estate practices. Selected applicants will receive up to $250,000 for basic research and implementation, with initial funding in February 2013.
In addition to monetary funds, RGRC-funded projects will have access to CBRE’s global market data and resources, which can help them to commercialize their ideas.
“We are pleased to announce the creation of the industry’s first dedicated funding mechanism to support substantive research for commercial real estate,” said Dave Pogue, CBRE’s Global Director of Sustainability and head of the global sustainability taskforce that developed the RGRC.“Through this collaborative approach, we hope to create a meaningful impact in sustainable commercial real estate practices.”
Full details about the RGRC, its evaluation criteria, and terms and conditions are available at www.cbre.com/rgrc. Submissions will be accepted through December 31, 2012.