Los Angeles-based CBRE Group Inc. has announced the launch of 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.
Over the next four years, CBRE will award selected applicants 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 commercialize their ideas. CBRE is accepting submissions for research proposals through the end of the year.
‘We've seen growing market awareness of commercial buildings' impact on the environment,’ says Bob Sulentic, CBRE 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.’