There's a great article in this morning's Bisnow, focusing on the risk to investments of ignoring climate change. The commentary in the article bears out what we are seeing in practice and momentum in the real estate sector is building. Forward-thinking clients are reviewing their portfolios now in light of reinvigorated (or, in some cases, brand new) ESG strategies and considering the steps they can take to proactively protect investment value over the coming years. The collection and interpretation of data is going to be key, especially with further, more aggressive, regulatory changes anticipated in the fight to reach net-zero by 2050.
“When Mark Carney was head of the Bank of England, he had begun working behind the scenes on a quiet revolution to move the financial sector forward. His aim was to make climate risk a consideration in every investment decision. The result today is much greater investor pressure on real estate owners and managers.”