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Energy Consumption and Efficiency

The ESG team carried out a study on energy consumption in shopping centers. The analysis, which examined 35 Italian shopping centers managed by Cushman & Wakefield from 2019 to 2022, highlighted a reduction in energy consumption, partly due to the occurrence of the pandemic.

The study also showed that energy efficiency measures can reduce energy consumption by up to 20%. The efficiency measures mainly focused on low-cost operational optimizations, such as temperature regulation and switching off unnecessary equipment, as well as investments in efficient technologies such as LED lighting and photovoltaic systems.

The study highlighted the specific characteristics of retail assets, characterized by extended opening hours, mixed activities (retail sales, food & beverage and leisure), and large structures often located outside urban centers.

These factors can impact both energy management and data interpretation. Collecting and managing energy data is indeed a challenge in this field, which can be overcome with the use of technology.

Francesca Altamura, Sustainability Lead Italy at Cushman & Wakefield, pointed out: ‘The availability, accessibility and quality of data are crucial. Despite the difficulties in such a complex sector, increasingly available technological solutions can help us unlock opportunities and define solid paths for efficiency improvement".

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We are aware that we can’t predict when the current headwinds will eventually subside. What we can do is read the past and look for opportunities for the next cycle. So: how was the market in 2022?


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