The war in Ukraine and the covid pandemic before it have helped to change attitudes to ESG dramatically according to PwC director Sebastian Kreutel.
“Almost every week we get several requests to help our clients with their ESG strategy and to operationalise their ESG strategy,” Kreutel told Real Asset Insight’s Richard Betts.
And he pointed out that this does not just apply to real estate but to infrastructure too.
“And we’re increasingly seeing more in terms of institutional investment focusing on this area,” he added.
“It seems that Corona as well as, let’s say, the latest developments in Eastern Europe led to an acceleration when it comes to ESG behaviour.”
Consequently, Article Eight funds will be the new normal and there will only be very few cases where Article Six funds will be launched in the future, he said.
“Most of them are also looking forward and thinking about how Article Nine funds, especially in real estate, can become more normal in the future.”