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By DEB NOLLER | The Business Times | July 21, 2022
Sustainability has been a focal point of businesses for more than a decade, but companies often consider it as a nice-to have measure, and for years it did not foster any major change to business practices.
The real estate industry, in particular, has been trying to incorporate a more holistic approach around environmental, social, and governance (ESG) factors. The impacts of climate change have already influenced real estate markets at a global scale, with 65 percent of investors expressing their motive for considering ESG issues to help manage investment risks, as 35 percent of real estate investment trust's properties are exposed to climate hazards.
In fact, the World Green Building Trends report has shown that about two-thirds of owners and developers believe that green building will increase a new building's asset value by 6 percent or more.
Across the board, for developers and investors, this trend creates a clear business case, there is heightened financial opportunity from asset value of sustainable buildings. Committing to action on sustainability across all built assets makes financial sense.
Read the news article here.
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