IS THERE A MARKET OF SUSTAINABLE PROPERTY INVESTMENT PRODUCTS?
||Lorenz, David; Thomas Lützkendorf
||IS THERE A MARKET OF SUSTAINABLE PROPERTY INVESTMENT PRODUCTS?
||Book of Abstracts: 13th Annual European Real Estate Society Conference in Weimar, Germany
||Efforts in contributing to sustainable development have resulted in various activities and initial successes within both the construction and property sector as well as within the finance, banking and insurance industries. The paper provides a brief analysis and classification of these activities (amongst others, e.g. UNEP FI, UNEP SBC, SRI, GRI) and shows that sustainable planning, construction and management of property assets is not yet sufficiently linked to the issues of property financing, insurance, valuation and to the development of new indirect property investment products. Starting from a brief description of Socially Responsible Investment approaches the authors discuss and estimate the potential market for sustainable property investment products and describe in how far the current niche activity of sustainable property investing could move into the mainstream. As a precondition for moving sustainable property investment into the mainstream the authors describe characteristics, attributes and requirements of sustainable buildings. In addition, the current state of discussion within international and European standardisation circles (at ISO and CEN) regarding the issue of ‘Sustainability of Construction Works’ is portrayed. The paper concludes with an identification and classification of possible sustainable property investment strategies and of new indirect property investment products.
||sustainable property investment; socially responsible investment; sustainable building
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