The background of our thesis is the fact that properties and their related industry have a big negative impact on our environment. Since the real estate business is an important part of how the society is constructed, environmental solutions and sustainable real estate development can contribute to positive climate changes globally. The last decades have shown an increasing number of green properties, however the proliferation on the Swedish market is still slow. Existing research describes different benefits and motivators that should encourage investments in environmentally certified properties among real estate companies. Benefits that are established are for example lower energy- and maintenance costs, lower vacancy rate, an improved company image and increasing market value. We believe there is a gap of information considering how the real estate companies experience that these benefits are generated from a green building, as well as how motivators have impacted on the companies’ investment decisions. The purpose of this thesis is therefore to explain how different motivators affect real estate companies to invest in environmentally certified properties. To answer the purpose of our thesis, we have created four different hypotheses based on existing research which includes an improved result, increased economic profitability, improved company image and the opportunity of incentive programs and economic contributions. The hypotheses of our study have been tested with a quantitative method, through a survey. Collected data from our study has been analysed through a multiple regression analysis, where the four motivators have been analysed against the real estate companies share of investment decisions in environmentally certified properties. The conclusion of this thesis is that none of the hypotheses reached statistical significance and therefore the collected data cannot prove any relations between the motivators and companies’ investment decisions. Although, through our study, we have been able to identify both differences and similarities between theoretical claims and the result from our study. Even though statistical relations cannot be confirmed, the survey has collected descriptive data which contributes to a general view of how Swedish real estate companies today evaluate environmentally certified properties and how they are motivated to invest in these properties.

One major lesson derived from the implementation of the Endangered Species Act (ESA) over the past 30 years is that direct regulation is not the only nor the optimal way to protect endangered species on working lands because of an undue burden imposed on private landowners. The role of a voluntary conservation program is to rearrange incentives so that society bears the cost rather than the landowner. Employing a survey research methodology, I used theories of reasoned action and random choice to explore landowners? stated preferences for conservation programs. I found landowners? stated interest in compensation programs to be moderate at best. For those willing to consider programs involving endangered species, associating land management requirements for species conservation with direct benefits to the landowner is important, but perhaps not as important as ensuring that the program provides adequate financial incentives, consideration of the term of the program, and a level of certainty regarding the landowner?s future obligations under the ESA. Landowners are not a homogenous group. I identified two classes of landowners according to preferences for program structure. One group was highly sensitive to program structure, aside from financial incentives, while the other was likely to participate if adequately compensated with financial and technical assistance. These differences related to opinions on endangered species protection and dependence on their land for income. Voluntary incentive programs increasingly are a popular tool to maintain and enhance conservation; however, these programs are only successful insofar as landowners choose to enroll. This research demonstrates that improving recovery efforts on private lands requires program administrators to have a more complete understanding of landowners? views on endangered species and conservation programs in general, as well as their motivations for owning and operating their land. By doing so, programs with broader appeal and greater efficacy can be designed and implemented.