UNEP FI launches Corporate Real Estate Sustainability Management Framework for the financial industry

In the presence of leading real estate asset managers and investors, the United Nations Environment Programme Finance Initiative (UNEP FI) launched a report which proposes a framework for Corporate Real Estate Sustainability Management (CRESM). The framework is a useful tool for real estate asset managers to mitigate risks and create opportunities across the investment process and ensures that sustainability information will become a valuable resource for boards and key decision makers. It also helps investors both protect the value of real estate funds and comply with their fiduciary duties. 

Sustainability Metrics: Translation and Impact on Property Investment and Management highlights that the property investment community has already developed a relatively sound understanding of what sustainability means in relation to single buildings and investment vehicles. However, it also suggests that the data and information crucial for sustainability performance assessment and management are not yet systematically captured and processed, even though it may already be available within an organisation.  

With approximately 70% of the world’s wealth bound up in land and real estate, the sector is vital to economic development, helping to underpin stable, sustainable investment and growth around the globe. Buildings also account for approximately a third of the world’s energy consumption; they contribute to global greenhouse gas emissions and are considered a sector requiring urgent action to mitigate climate change.

Led by the Property Working Group within the UNEP Finance Initiative and developed by the Centre for Real Estate at the Karlsruhe Institute of Technology, the report represents a joint venture between leading stakeholders in the field of property investment, advice and management. It was supported by the Royal Institution of Chartered Surveyors (RICS), the Institutional Investors Group on Climate Change (IIGCC) and the PRI. 

 

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