Among the effects of the ongoing health crisis on the real estate markets is the increased attention now being given to ESG issues, in particular environmental and social considerations.
“Another really interesting difference that we’ve seen in this crisis compared to prior crises is really in downturns in the past there’s been very little focus on issues of people and planet,” said Gabi Stein, managing director and senior real estate specialist at Nuveen.
“But that has been a massive change this time round. Despite the upheaval that we’ve seen in the last 18 months it’s become impossible to ignore the climate emergency.”
Talking to Real Asset Insight’s Richard Betts, she said that the pandemic has shone a light on social and economic imbalance and investors are “really awake” to it and large numbers of managers and investors have gone public with ambitious pathways and targets to net zero carbon.
Click on the video above to watch the full interview or listen to the podcast below.