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MIPIM: Governments lag institutions in zero carbon race

While central governments battle with local authorities over whose remit particular areas of climate change legislation falls under, in some cases institutional investors and banks are actually moving faster to impose sustainability criteria, according to Colliers Netherlands’ CEO Dirk Bakker.

“Banks are already penalising people that are not up to standard on ESG,” he told Real Asset Insight’s Richard Betts at MIPIM yesterday.

“The pension funds are all trying to be best in class and are moving faster than the legislature can,” he said. Although private equity has lagged, these investors are also catching up, Bakker added.