Schroders has joined the Global Real Estate Engagement Network (GREEN), a non-profit engagement network comprised of global institutional investors committed to advancing sustainability within the real estate industry.
Schroders shared that by joining GREEN, its global cities team aims to collaborate with peers in engaging with listed real estate companies to drive “meaningful change”.
Given that the real estate sector contributes around 40% of global greenhouse gas emissions, GREEN focuses on aligning the industry with the goals outlined in the Paris Climate Agreement. Through collective efforts, members seek to guide real estate companies – listed and non-listed – in enhancing sustainability performance and mitigating financial and non-financial climate risks.
A notable initiative involves the development of an investor statement, endorsed by all members, outlining actions related to climate change and sustainability, including enhanced disclosure, governance frameworks, science-based transition pathways to help meet Paris Agreement goals and the promotion of certified data across portfolios such as building certification.
Andy Howard, global head of sustainable investments at Schroders, said: “Aligning with other investors through GREEN will help us achieve even greater impact and influence with real estate companies across different markets.”
Tom Walker and Hugo Machin, co-heads of global listed real assets at Schroders, commented: “Real estate and cities are major carbon emitters and the potential cost of inaction or maladaptation could lead to significant material and financial consequences. Collective action is essential given the scale and regional impact of the consequences besides impacting individual assets at risk.”
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