Real estate, through its construction, use and demolition, is responsible for around 30–40% of global carbon dioxide emissions. The Intergovernmental Panel on Climate Change identified buildings as offering the most significant opportunity for cost-effective emissions reductions worldwide.
Responsible Property Investment (RPI) is an approach to property investing that recognises these environmental considerations. It also explores social and governance considerations alongside financial objectives. It goes beyond minimum legal requirements to improve the environmental or social performance of a property.
About the work stream
The work stream has been working with UNEP FI’s Property Working Group (PWG) since 2007 to explore how the Principles apply to property investment and management practices.
Due to signatory demand, the PRI has recently dedicated further resources to this work stream to further support signatories investing in property. A consultation was undertaken during 2011 which formed the basis for a two-year strategy and work plan for the work stream.
Asset owner support working group
The aim of this group is to develop guidance focused on the specific challenges asset owners face when implementing a responsible investment program for property investing. All signatories, in particular asset owners, are welcome to join this group.
Resources listed may require PRI signatory extranet access.
- The environmental and financial performance of buildings: This report examines the key academic research available on the relationship between the environmental and financial performance of buildings. It seeks to provide investors with knowledge of the different ways that the environmental performance of a building can affect its appraisal value, occupancy rates, and rental and sale price. It also highlights existing gaps in research on responsible property investing.
- 2011 Property Report on Progress: This report demonstrates the progress of PRI signatories in implementing the Principles in their property investments. The content is based on the PRI’s 2011 reporting and assessment survey.
- Building responsible property portfolios: This reviews current responsible property investing practices and eas developed jointly by the PRI and UNEP FI’s PWG. By highlighting international best practice examples from leading PRI signatories and UNEP FI members, the report provides guidance on how the PRI can be applied to property assets.
- Property investors’ perspective on climate change policy (November 2011)
- Implementing Responsible Property Investment Strategies (February 2011)
- The investors’ perspective on the nature and need for sustainable property metrics (November 2010)
- Academic research on ESG and Real Estate (April 2010)
- Responsible property investing – committing and engaging (December 2009)
- Responsible property investment – Similar aims, different manifestations (September 2009)
- Sustainable Real Estate Portfolios (January 2009)
Previous PRI in Person sessions
- Assessing the impact of energy efficiency in property portfolios (September 2011)
- Responsible Property Investment- from policy to practice (October 2010)
- Responsible property ownership – the scope for tenant engagement (July 2009)
Additional sources of guidance
- An online global database of resourcesfor responsible property investors was compiled by the work stream in early 2012.
WORK STREAM MANAGER