immo!nvest – Die Plattform für Standorte und Immobilien

Tag: Klimarisiken

  • No longer a bonus, but mandatory

    No longer a bonus, but mandatory

    From ESG label to strategic reality
    Sustainability in the real estate industry has had its noisy years behind it. After gaining a certain reputation as a differentiating feature, it has now taken its place as a strategic core issue in the form of ESG criteria. However, this is precisely why the topic is in danger of becoming quiet between reporting obligations and day-to-day business. What becomes the norm disappears from the limelight. But routine is no protective shield. Especially not in an industry that thinks in decades but often makes decisions in years.

    Because while sustainability is being discarded as a done deal in many places, the structural challenges remain. Real estate thinks in cycles of 30, 40 or more years. Net zero by 2050 is therefore not a distant vision, but a real planning horizon. This also means that a large proportion of today’s existing properties can only be properly renovated or completely refurbished once.

    Uncertainty as the new planning reality
    The current geopolitical situation, volatile markets and unclear framework conditions are currently making it difficult to draw up reliable climate reduction paths. In practice, this often leads to decisions being postponed or reduced to the most favorable short-term solution. However, those who persist in linear thinking are limiting themselves in the long term. Climate protection roadmaps, gray energy, life cycle costs and climate risks must be an integral part of every decision in order to achieve climate neutrality in an economically viable way. And not at some point, but now.

    In practice, it is becoming clear that portfolio holders are taking an increasingly differentiated approach to sustainability. In addition to traditional CSR approaches, a clearly risk-oriented approach is becoming established. The focus is on reliable data on condition, consumption and emissions as well as building-specific risk profiles, which are incorporated into the portfolio strategy as control parameters. This makes sustainability a strategic decision-making factor that goes beyond reporting. The location in particular is taking center stage: Real estate must not only be efficient, but also resilient to heat, water, extreme events and social tensions. Those who systematically assess these risks can take targeted action. Everyone else reacts to the consequences later.

  • Property sector facing change with obstacles

    Property sector facing change with obstacles

    Growing awareness of climate risks is increasing the pressure on the property sector to find solutions. According to the latest C-Change survey, 93 per cent of the investors surveyed take climate-related risks into account in their decisions. This trend reflects the increasing commitment to not only recognising climate policy requirements, but actively integrating them into the corporate strategy.

    Lack of data and knowledge
    Despite positive developments, there are obstacles to the implementation of decarbonisation measures. According to the survey, 61 per cent of companies lack the in-depth knowledge and qualitative data needed to take the right steps to reduce CO2 emissions. Aleksandra Smith-Kozlowska from ULI emphasises the need for systematic knowledge transfer and better availability of high-quality data.

    Transition risks on investment strategies
    The survey shows that transition risks are increasingly influencing investors’ strategies. 94 per cent of the companies surveyed report that the risks influence their portfolio decisions. Although 51 per cent make investments in properties with these risks and 30 per cent feel compelled to divest themselves of affected properties. The cost of retrofitting and the risk of asset losses are becoming the focus of attention.

    An instrument for risk mitigation
    The survey highlights the growing interest in a CO2 tax as a strategic tool for decarbonisation. 21 per cent of companies have voluntarily introduced internal carbon pricing mechanisms in the last 12 months. Around 71 per cent use a shadow price per tonne of CO2 to incorporate potential emissions costs into business planning

    Obstacles to the sustainable property industry
    Despite the progress made, there are concerns about competitiveness that have so far slowed down the industry-wide introduction of the carbon tax. Critical factors include lack of data consistency, lack of stakeholder support and uncertainty about the impact on financial results and operational strategies.

    As measures, the ULI calls for more intensive education and the introduction of clear guidelines. The ULI’s latest publications, including “Accelerating Accountability: The Case for Carbon Pricing” and “Universal Principles for Carbon Pricing in the Real Estate Sector”, are intended to help the industry establish carbon pricing as an integral part of the value chain and thus promote long-term sustainability goals.