The World Economic Forum aims to develop a common set of environmental principles in partnership with the real estate industry. The goal of this effort is to ensure that the decision-making and operations of real estate firms place a high priority on becoming environmentally sustainable. Although there are a growing number of diverse environmental standards at the building level, at the company level as well as at the urban and national governmental level, the real estate industry lacks a uniform set of sustainability principles. Current initiatives often lack a wider context, a value proposition and a broader vision. In addition, there is fragmentation and confusion and a widespread belief that real estate lags behind other sectors in responding to environmental challenges.