Incorporate environmental, social and governance initiatives in commercial property valuation: a case study of Klang Valley, Malaysia

Pang, Wiyett (2024) Incorporate environmental, social and governance initiatives in commercial property valuation: a case study of Klang Valley, Malaysia. Master dissertation/thesis, UTAR.

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Abstract

In recent years, there has been a growing recognition of the importance of Environmental, Social, and Governance (ESG) factors in the valuation of commercial properties. These factors, which encompass a wide range of issues such as energy efficiency, carbon emissions, social impact, and corporate governance, are increasingly being considered by investors, regulators, and society at large. However, despite the increasing emphasis on ESG considerations, incorporating these factors into commercial property valuation presents several challenges. These challenges can range from data availability and quality issues to the lack of standardized methodologies and frameworks for valuing ESG initiatives. This research seeks to explore the challenges faced by property valuers in incorporating ESG initiatives into commercial property valuation. By examining these challenges, this study aims to contribute to the growing body of knowledge on the valuation of sustainable buildings and to provide insights that can help property valuers, investors, and policymakers navigate the complexities of incorporating ESG factors into commercial property valuation. Through a qualitative approach, specifically Grounded Theory (GT), this research aims to identify the challenges faced by valuers in considering ESG factors in commercial property valuation in Malaysia and Poland. By adopting a flexible and open-minded approach, this study seeks to uncover the underlying issues and complexities that may not be apparent in a more structured research design. It is my hope that this research will not only contribute to the academic literature but also provide practical insights that can help improve the integration of ESG factors into commercial property valuation practices.

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