PwC has published an English language version of its 600-page ESG Handbook for Real Estate which covers all aspects of ESG and how it affects the property business.
The handbook examines aspects such as politics and regulation, ESG in management, investment, financing and valuation as well as sustainable urban development and European Union taxonomy.
The firm points out that the real estate industry is particularly affected by environmental, social and governance factors but that a cohesive overview has been lacking.
“The challenges associated with implementing ESG criteria still raise many questions in the real estate industry. Our handbook sets the framework for action and provides answers,” explains co-editor Florian Hackelberg, professor of real estate economics and management at HAWK Holzminden.
The editors, Thomas Veith, Christiane Conrads (both PwC), and Professor Hackelberg assembled a collection of more than 40 renowned authors from corporate practice, consulting, and academia to cover all of the key ESG aspects of the industry.
Among the authors were: Roger Baumann, COO and head product development global real estate of Zurich Insurance Group; Jens Böhnlein, global head of asset management at Commerz Real; and Martin Brühl, member of the management board of Union Investment Real Estate, who discuss the ESG strategies currently implemented at their companies.
“We are very keen to see the internalisation of social and ecological consequential costs become standard in the real estate industry in the short term,” said Thomas Veith, who is partner and head of real estate at PwC Germany.
Co-editor Christiane Conrads, head of the EMEA real estate ESG Group at PwC, added, “The challenge now for the real estate industry is to address the market failures that still exist today through effective ESG strategies.”
The book is available for purchase with hardcover (€69.95) or as an E-book (€59.99).