On 28 and 29 February, INREV conducted the second edition of the Advanced ESG course in Frankfurt, Germany. The first day started off with a welcome lunch, then an introduction by our course leader, Abigail Dean from Nuveen Real Estate. On the second day, participants delved into the subject matter, concluding the day with a group case study that synthesized many of the topics discussed during the course.
Here are some highlights and key learnings from the course:
- Aleksandra Njagulj walked us through the rollercoaster of regulatory initiatives affecting our industry. Regulations have yet to align, and definitions and concepts, including “Sustainable Investment”, still require clarity.
- Daniel Chang walked us through Hines’ approach to delivering net zero at the asset level, addressing variations that may arise across different geographies and sectors. He highlighted the importance of considering both embodied and operational carbon emissions.
- Brett Ormrod presented several tools and case studies to support the decarbonisation journey, and stressed the need for action to reach our goals.
- Derk Welling walked us through APG’s approach to climate risk management, with a focus on methods to assess the potential impact of extreme weather events, whilst stressing the limitations and advocating for the use of multiple sources.
- Shuen Chan explained Legal & General’s Place-based Impact Framework and their early adopters programme – the focus is on meaningful and intentional impact, though it remains difficult to quantify as impact cannot be solely measured in monetary values.
- Emily Hamilton delivered an insightful presentation on biodiversity, emphasizing the importance for the industry to acknowledge the impact of the built environment. Although still emerging, the industry can benefit from the expertise of non-profit organizations and charities in this field.
- Honoré Achille Simo showed us that sustainability factors do impact property values, and as more information becomes available, we will better understand how mature that impact is.
- Abigail Dean wrapped up the course by outlining the evolution of sustainability within the investment management process, now recognised as a crucial component throughout the entire life cycle of a deal.
We would like to thank everyone for making this event a success, and a special thanks to all our dedicated speakers.
If you are interested in joining us for the next edition of the Advanced ESG course, please contact academy@inrev.org.