ESG regulation is increasingly complex and can feel overwhelming for the whole real estate industry, stated Oliver Kummerfeldt, Head of European Real Estate Research, Schroders Capital.
In a recent interview with Real Asset Insight he said asset managers are going to take time to implement ESG strategies need resources as well as people with a variety of backgrounds, not just property.
“I think that is something where we really need to need to improve and we need to improve fast to get the right people in to be able to implement meaningful ESG strategies,” Kummerfeldt said.
“ESG is at the core of our investment strategy because we feel it as absolutely crucial to protect value in the future and we have that duty towards the money we manage,” he added.
“We believe if you don’t take action now you’re at the risk of ending up with stranded assets, with assets that cannot be leased anymore, or only at a discount, so it has to be at the heart of the strategy. We’re working very hard to get ahead of the curve.”