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News

  • New: Sustainable Real Estate Investment. Implementing the Paris Climate Agreement – An Action Framework
    Launched in February 2016 by UNEP FI in collaboration with IGCC, IIGCC, Ceres INCR, PRI and RICS, the framework sets out the actions to improve returns and better protect the future value of real estate investments through engagement with the ESG and climate agendas.
     
  • Contribution to the G20 and mobilisation on energy efficiency at the COPs: G20 Energy Efficiency Investor Statement
    Since UNEP FI is part of the Secretariat of the G20 Energy Efficiency Finance Task Group, created to promote Energy Efficiency (EE) Finance, notably in buildings. As part of this ongoing work at G20 level, UNEP FI has led with partners, CERES and PRI, the mobilisation of investors on energy efficiency finance for COP21. The result was an unprecedented mobilisation on this strategic topic, increasing its visibility and sending a strong positive signal from the Investment Community at COP21, with the signature by investors managing close to $4Tr of assets. The Statement remains in 2016, for the G20 Leaders Summit and COP22. The mobilisation continues. Join us. For further information, please contact Annie Degen at annie.degen at unep.org
     
  • Key facts: What is PWG, what do we offer and why you should join
     

Introduction

Property investing is a multi-trillion dollar worldwide industry that can have profoundly positive or negative effects on environmental, social and cultural goals. Issues as diverse as urban poverty, global warming and indigenous people’s rights are affected by decisions about the development, refurbishment, and management of properties. Investors cannot only have a positive influence on these decisions, but also benefit directly from integrating ESG considerations in Real Estate.

"Buildings account for approximately a third of the world’s energy consumption and global greenhouse gas (GHG) emissions. As physical, regulatory and reputational ESG risks are being increasingly felt, real estate professionals, as the building owners and operators, are in a unique position to proactively address those risks. By doing so, they are not only mitigating risk, but also safeguarding and increasing the value of their assets in the long term."

Frank Hovorka
Director, Responsible Property Director, Caisse des Dépôts et Consignations
Tatiana Bosteels
Head of Responsible Property Investment, Hermes Real Estate

Our Work

UNEP FI’s work on property investing is undertaken by the Property Working Group (PWG). It is composed of members of UNEP FI’s Investment Commission with an interest in Real Estate. The PWG’s purpose is to encourage property investment and management practices that achieve the best requisite balance between possible environmental, social and financial results.

The PWG strives to encourage sustainability in property finance and scale up Responsible Property Investment (RPI) as well as increase market spread of ESG in Real Estate investments.

Aims of the Property Working Group

  • Drive innovation in RPI by facilitating access to relevant information and best practice and collaboratively develop the necessary tools to enable property investors and professionals to systematically apply and integrate ESG criteria into investment and lending decisions.
  • Promote and encourage RPI by collecting and providing evidence to show how it can protect or increase financial performance throughout the lifecycle of buildings while simultaneously reducing detrimental environmental and social impacts.
  • Collaborate with policy-makers and the real estate investment community on developing and establishing the appropriate policy and regulatory frameworks for RPI practices to grow.

Work program 2016

The PWG’s objective is to address the most imminent challenges in the field of sustainable real estate investment through the following work program:

  • Capacity building and dissemination of tools: Engage real estate investors on the Sustainable Real Estate Investment Framework through a series of events globally.
  • Policy engagement: In collaboration with the Global Alliance on Buildings and Construction identify investment gaps in countries’ NDCs with regards a sustainable built environment and work on a roadmap for countries to finance their sustainable building commitments.
  • Energy Efficiency: Further promote enabling policies for energy efficiency investment through participa¬tion in the Secretariat of the G20 Energy Efficiency Finance Task Group.
  • Positive impact finance: Provide an open space through the Positive Impact Incubator in which banks, investors, clients and further stakeholders can come together to look at ways to open markets in relation to specific needs and impacts on the build environment. E.g.: energy efficiency financing.

Members

  • Allianz Real Estate (Allianz SE), Germany
  • Aviva Investors (Aviva plc), UK
  • Axa Real Estate Managers (Axa – Group Management Services), France
  • Bentall Kennedy, USA & Canada
  • BNP Paribas Real Estate Investment Services (BNP Paribas Fortis), France
  • Caisse des Dépôts et Consignations, France
  • Colonial First State Global Asset Management (Commonwealth Bank of Australia), Australia
  • Deutsche Bank, Germany & USA
  • F&C REIT Asset Management, UK
  • Hermes Real Estate, UK
  • Inflection Point Capital Management (UK) Co., Ltd
  • Infrastructure Leasing & Financial Services, India
  • Lend Lease, Australia
  • M&G Real Estate, UK
  • Mitsubishi UFJ Trust & Banking Corporation, Japan
  • RobecoSAM, Switzerland
  • The Link REIT, Hong Kong
  • Sumitomo Mitsui Trust Bank Limited
  • Thomas Lloyd, UK
  • UBS Global Real Estate (UBS AG), Switzerland

Chairs

  • Tatiana Bosteels, Head of Responsible Property Investment, Hermes Real Estate (2014-2016)
  • Frank Hovorka, Director, Responsible Property Director, Caisse des Dépôts et Consignations (2015-2017)

Advisory Group

  • Maria Atkinson, Director, XO
  • Michael Brooks, CEO of the Real Property Association of Canada (Canada)
  • Ryuichi Horie, Co-founder and CEO, CSR Design Green Investment Advisory (Japan)
  • David Lorenz, Professor for Property Valuation and Sustainability, Karlsruhe Institute of Technology (KIT)
  • Paul McNamara, Founder and Director, Linden Parkside Limited
  • Gary Pivo, Professor of Urban Planning and Professor of Natural Resources, The University of Arizona
  • Sarah Sayce, Professor of Sustainable Real Estate, Royal Agricultural University

Collaboration

One of the key elements for the development of our work on property investment is the active collaboration with market players with an expertise and deep interest in real estate investments.

Contact

Katharina Lütkehermöller
property [at] unepfi.org

 


Property Publications
  PDF Property Working Group - Key Facts
(360 KB | 1 pages)
 
    
  What is PWG, what do we offer and why you should join  
     
  PDF Sustainable Real Estate Investment
(6.6 MB | 70 pages)
 
    
  Implementing the Paris climate agreement: an action framework
Executive summary
 
     
  PDF Integrating Climate Risks in Real Estate
(524 KB | 4 pages)
 
    
  French version
Press release
 
     
  PDF Energy Efficiency – the first fuel for the EU Economy
(2.7 MB | 127 pages)
 
    
  How to drive new finance for energy efficiency investments - Final Report covering Buildings, Industry and SMEs
Executive Summary
 
     
  PDF Sustainability Metrics: Translation and Impact on Property Investment and Management
(5.5 MB | 111 pages)
 
    
  A report on how property managers and investors can use sustainability metrics in their decisions.
Japanese version
Executive Summary
Presentation
Press Release
Flyer
Event Page
 
     
  PDF Commercial Real Estate: Unlocking the energy efficiency retrofit investment opportunity
(670 KB | 32 pages)
 
    
  A briefing on why investors should invest in retrofit opportunities.
Japanese version
Press release
Event page
Webinar
 
     
  PDF Responsible Property Investment – What the leaders are doing 2nd edition
(3.9 MB | 46 pages)
 
    
  A collection of case studies of leading property investors applying RPI principles within their decision-making.  
     
  MoreAll Publications  
Property Events
  German launch of the Sustainable Real Estate Investment Report
14 September, 2016
Munich, Germany
 
     
  Lunch Discussion, Sustainable Real Estate Investment
7 September, 2016
Singapore
 
     
  French launch of the Sustainable Real Estate Investment Report
20 April, 2016
Paris, France
 
     
  Managing Climate, Environment, Social and Governance in Real Estate
8 February, 2016
London, UK
 
     
  MoreAll Events