A recent survey of the real estate industry by legal firm CMS found that the business is becoming more preoccupied by ESG (environmental, social and governance) policies a lawyer at the firm, Clare Thomas, told Real Asset Media’s Richard Betts.
However, global institutional investors are driving this new commitment. While 77% of those surveyed in this category said ESG was important, only 32% of property professionals agreed.
Nevertheless, ESG is more important when institutional investors are vetting prospective acquisitions which can frequently now sink or swim based on their ESG credentials.
The CMS survey commenced in March and April and it was also clear that the “S” (social) in ESG has become more significant to respondents, Thomas said.
Click on the video to watch the full interview or listen via the podcast below.