The Importance of Supporting Biodiversity in Commercial Assets
Biodiversity is not only a cornerstone of healthy ecosystems but also plays a crucial role in enhancing the quality of life for local communities. As urbanisation and the built environment continue to reshape landscapes, integrating biodiversity into commercial assets can result in numerous benefits that extend far beyond environmental considerations.
In commercial assets biodiversity has a positive impact on local wildlife. Urbanisation tends to displace many species, but well-planned green spaces can serve as valuable habitats. Chirping birds, the buzzing of bees and the presence of butterflies contribute to a richer and more dynamic environment. This not only enhances the overall ecological balance but also fosters a sense of connection with nature among users. We in Bannon have seen this first hand where we have numerous assets involved in the All-Ireland Pollinator plan. We create a landscape in our assets where pollinators can thrive and restore pollinators populations to healthy levels. Pollinators are integral to all local ecosystems as they help fertilise flowers, crops and wild plants.
One of the primary advantages of promoting and integrating biodiversity in commercial assets is the positive impact on the overall well-being of the users. Green spaces with diverse flora and fauna provide recreational opportunities, offering users an alternative to the built-up environment many are now surrounded by. Access to natural environments has been linked to improved mental health, reduced stress levels, and increased overall happiness. Integrating biodiversity into retail and office spaces contributes to creating a more enjoyable user experience.
Adding greenery into commercial spaces enhances the aesthetic appeal of the area. Landscaping with a variety of plants, trees and flowers not only beautifies the surroundings but also creates a welcoming atmosphere. This visual appeal can attract more visitors to the commercial area, boosting footfall for occupying businesses.
In addition to the aesthetic and recreational benefits, biodiversity in commercial assets has tangible economic advantages. Green roofs not only provide habitat for plants and animals but also offer insulation, reducing energy consumption for heating and cooling within buildings. This, in turn leads to cost savings for the service charge and creates a more sustainable and economically efficient asset.
The promotion of biodiversity aligns with growing consumer preferences for sustainable and eco-friendly practices. Businesses that actively engage in biodiversity programmes and showcase their commitment to environmental responsibility are likely to attract environmentally conscious consumers. This creates a positive feedback loop where businesses, customers and the environment all benefit from a shared commitment to biodiversity.
Integrating biodiversity into commercial assets requires a multifaceted approach that yields numerous benefits for local communities, owners, and users alike. The importance of promoting biodiversity is undeniable. By recognising the interconnectedness of ecological health and prosperity, Property Managers can work together to create vibrant and sustainable commercial assets that benefit owners, users, and the environment.
The Bannon Property Management team manage a large portfolio of assets including Offices, Shopping Centres and Retail Parks in Ireland. We are actively implementing this multifaceted approach to biodiversity across our portfolio.
Author: William Lambe, Divisional Director, Bannon
Date: 6th March 2024
