Earlier this year it was hard to open a newspaper without reading something about the ESG agenda and sustainability; when it came to Real Estate this was doubly the case.
The impact of the Environment Bill's implementation of a net zero carbon target for the UK by 2050 is a game changer for the property industry. The quest for reductions in carbon emissions, both during construction and the subsequent lifecycle of a building meant that new strategies were already being put in place across the property and finance sector.
Of course most of the attention right now is on the Coronavirus pandemic sweeping the world and the huge challenges and changes it is presenting us with. But that doesn't mean that the ESG agenda has disappeared; in fact most of the events have moved online - such as the UKGBC Circular Economy Guide launch - and while it is not on the front pages any more it is still making its presence felt in the press.
In fact, some of the impacts of adapting to the ESG agenda are becoming more apparent during this turbulent period. ESG funds seem to be having a softer landing during the current market freefall with the expectation that new investment will likely favour responsible investment vehicles and funds. Real estate investment trusts and companies are also continuing their progression towards becoming greener and more sustainable businesses.
ESG might be quieter right now but it is still a headline consideration in Real Estate.
UKGBC is launching circular economy guides to encourage reuse and products as a service in the buildings industry.
https://www.ukgbc.org/events/circular-economy-guide-launch/
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