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Sustainability: The risk management category

Author

Listed:
  • Walraven, Brenna

    (Executive Strategic Advisor, RE Tech Advisors, USA)

  • Wattamwar, Shila

    (Vice President of Shared Services, RE Tech Advisors, USA)

  • Curzi, Colin

    (Head of Building Policy, RE Tech Advisors, USA)

Abstract

The growing emphasis on sustainability in the real estate market is being driven by regulatory demands, stakeholder expectations, and positive financial outcomes into becoming a vital risk management strategy. Investors, lenders, and tenants are increasingly integrating environmental, social, governance, and resilience (ESG+R) considerations to enhance efficiency, position for resilience, and positive financial performance and mitigate compliance risks. It is essential for real estate owners and operators to be engaged in these climate transition and physical risks from topdown and bottom-up on regulations and climate reporting mandates, such as the EU’s Sustainable Finance Disclosure Regulation, the Securities and Exchange Commission (SEC) Climate Disclosure Rules, and the array of locally legislated Building Performance Standards policies across the USA. Understanding key material risks, including transition and physical risks associated with climate impacts, and adoption of frameworks, such as the Task Force on Climate-Related Financial Disclosures (TCFD) and International Financial Reporting Standards (IFRSs) for risk assessment, is crucial. Implementing ESG+R initiatives can improve operational efficiency, resulting in cost savings, enhanced tenant/occupant satisfaction, and increased asset value. Effective climate risk management in this evolving regulatory landscape requires collaboration across organisational levels and strategic planning to achieve sustainability goals and optimise long-term investment returns.

Suggested Citation

  • Walraven, Brenna & Wattamwar, Shila & Curzi, Colin, 2025. "Sustainability: The risk management category," Corporate Real Estate Journal, Henry Stewart Publications, vol. 14(3), pages 266-279, March.
  • Handle: RePEc:aza:crej00:y:2025:v:14:i:3:p:266-279
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    More about this item

    Keywords

    sustainability; environmental; social; and governance (ESG); climate; climate resilience; risk management; transition risk; physical risk; building performance standards (BPS);
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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