The Dutch pension fund is working with investment managers to make the social impact of property investing more quantifiable on a per fund basis even as poor measurement remains a challenge for the sector.
The head of ESG at Allianz Real Estate said that making brown buildings green adds only 5% to 10% to renovation costs. Yet some investors are reluctant to make the changes.
Stakeholders across the global industry are failing in their responsibilities, says property investor Allianz Real Estate’s chief sustainability officer.
Norges Bank Investment Management and PGGM Investments say while green leases are highly useful in improving data and cutting property emissions, regulation is vital to improve the pace of growth.