Washington – Real estate industry experts anticipate a growing acceptance of, and scope of responsibility for, the race to net zero in 2022, according to a new report from the Urban Land Institute’s (ULI) Greenprint Center for Building Performance in collaboration with Ferguson Partners, a global boutique talent management company.
To accelerate decarbonization and create a more sustainable future for the built environment, the report emphasizes the need for unified leadership and a holistic approach driven by a long-term strategy, aggressive capital management, and agility to adapt to climate change.
ULI Global Sustainability Outlook 2022 addresses many of the challenges in the market and raises some of the issues that require more industry leadership and collaboration amid the growing climate crisis. The report is an annual publication first launched in 2021, and is a vehicle for ULI to share insights from member experts on the key environmental, social, and governance (ESG) issues that will impact strategic decision-making each coming year.
“The real estate sustainability industry is evolving and advancing faster than ever before,” says Marta Schantz, senior vice president of the ULI Greenprint Center for Building Performance. “Rising stakeholder expectations from investors, governments, and occupants are increasing pressure on real estate owners and developers to address their impact on climate change in transparent and accelerated ways, all while still achieving traditional returns and fiduciary duties. The Global Sustainability Outlook 2022 demonstrates the increasing sophistication of the global real estate industry when it comes to ESG, the progress of which is critical amidst the urgency of the climate crisis.”
The second annual Sustainability Outlook is based on interviews with members of ULI Americas Sustainable Development Council, ULI Europe Sustainability Council, and ULI Asia Pacific Resilient Cities Council who were asked what sustainability topics and issues are on the rise, why they matter, and what the industry should do about it. On the basis of the knowledge shared by these experts, Greenprint identified five issues that will shape real estate decision making in the months ahead and beyond: advancing the net zero agenda, navigating the reporting and measurement landscape, confronting climate risk, prioritizing existing buildings, and focusing on building materials.