Cities are really embracing sustainability across Europe and across the world in many different ways, says Sophie Chick, VP, research & advisory services, Europe, ULI Europe. While some cities are setting their own net zero targets, some are introducing more bike lanes and the concept of the 15-minute city is coming through in places like Paris.
“Investors are very keen to deploy capital in sustainable cities,” says Chick. “It’s a key driver for them. It was a popular topic and rising up the agenda pre-Covid, but I would say the pandemic has accelerated the trend and really put it front and forefront of people’s minds.”
ESG is key for all investors, but it is not easy within real estate because there are only a limited number of assets that tick all the ESG boxes. This means investors have to be proactive and find all the possible opportunities, but it also encourages them to retrofit and repurpose building to get them to the right standards.
Click on the video above to watch the full interview or listen to the podcast below.