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Property investing is a multi-trillion dollar worldwide industry that can have profound 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 can have a positive influence on these decisions. "It is a truism that properties accommodate most human activity. However, the corollary of this is that properties are also the places where a significant proportion of CO2 emissions are generated. The Association for the Conservation of Energy in the UK estimates that, through their construction, use and demolition, built structures are the source for nearly 50% of such emissions. [....]
Hence, there is a need for concerted thought and action to be given to finding ways to reduce the environmental impacts of the existing built stock. This is the specific subject area that UNEP FI’s Property Work Stream is committed to exploring. The complexities surrounding how properties are owned, leased and occupied are such that this requires specialist attention."
Dr Paul McNamara
Director, Head of Property Research & Information Team
Prudential Property Investment Managers
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Our Work
UNEP FI’s work on property investing is carried out by the Property Working Group. Its purpose is to encourage property investment and management practices that achieve the best possible environmental, social and financial results. The working group's current projects include:
- Responsible Property Investment (RPI)
This project aims to study property investment portfolios managed taking account of sustainability or ESG issues. We present case studies that demonstrate the financial and environmental value of RPI and show best practice with demonstrated high financial return. The study makes the connection between financial gain and responsible property investment. First results of this study are summarised in the CEO Briefing “Responsible Property Investing – What the leaders are doing”. The full study will be available by end of June 2008.
- What Do I Do Next? Toolkits to Assist Property Investors Become Responsible
The aim is to develop a set of ‘Toolkits’ which outline the key initial steps for property fund and asset managers who wish to manage their funds and investments more responsibly and assist them to do so. The toolkits present the link between theoretical knowledge on responsible property investment and practical implementation in asset management.
- Developing a guide to Global Green Building Standards
The group will develop a guide for investment decision-makers which compares and contrasts the currently established guides for green buildings, to allow them to understand how relatively demanding each one is in absolute terms and relative to one another.
- Identifying why SRI in property is practically different to SRI in equities
Brief note for publication to SRI investors explaining that, whilst the same principles can be applied to property as equities, with respect to SRI, the nature of direct property as an investment type means that there are practical differences in how to implement them.
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