It’s a two-tier market in terms of progress

How do you assess the real estate sector’s progress on sustainability in 2026?

The sector has made meaningful progress over the past few years, particularly in terms of awareness, target-setting and transparency. Sustainability is now firmly embedded in investment decision-making for most institutional players.

But progress remains uneven: the leaders in the industry are moving quickly toward measurable transition plans, while a significant portion of the market is still at an early or compliance-driven stage.

What would you say is the biggest issue facing the sector when it comes to sustainability?

The key challenge is execution, compounded by the shortfall of capital availability from both equity and credit. In Europe, decarbonisation is no longer a conceptual debate – it is necessary and requires credible, asset-level transition pathways supported by capital and operational capability with analysis based on data.

Regulation has raised the bar, but fragmentation of data and the complexity of implementing solutions at scale remain major obstacles.

What are your specific plans and key priorities for 2026?

Our priorities for 2026 focus on accelerating portfolio decarbonisation, strengthening data-driven asset management, including reducing operational emissions and addressing embodied carbon in development and refurbishment. We are also focused on implementing an impact strategy which sets ex-ante environmental and social goals at a building and district level.

Kelly Russell Catella, Coima