I saw a horrific image on my Instagram this week. It was the charred body of a wallaby pressed up against a wire fence. An innocent animal trying desperately to escape the inferno that was to envelop it. It was an image that brought a tear to my eye, caused me to clench my fists in anger and brought with it an overwhelming sense of shame. You and I killed that wallaby. And so many more.
According to the World Wildlife Fund, more than one million animals have died in the Australian bushfires. More than a million animals have died from our selfish and, dare I say it, stupid behaviour.
I was all set to write this leader as a “reasons to be cheerful” start to the year. I’d been looking through Blackstone’s “10 surprises for 2020”, its predictions for the year. Things it thinks “average investors” would assume unlikely, but that super-smart Blackstone thinks probable.
I was ready to be cheerful because among those surprises was the mega investor’s belief that the UK would turn out to be a winner in our Brexit deal. That the equity market would rise, the pound rebound and growth would top 2% as foreign investment flooded back to the country. The UK would also be the only European market that didn’t underperform against the US and Asia. Hurrah! I thought. We’re back.
I read on. Inequality and climate change will become more important politically, said Blackstone. Yes! I thought, finally. But, continued the oracle, centrist views will prevail. Back down to earth I go again with a thud.
But no. I don’t accept that. And I don’t believe you do either. No-one can look at what is happening in Australia today and not put battling climate change at the top of their agenda. If we don’t have a habitable planet, nothing else matters.
And if politically it is not going to be front and centre, let’s take control and put it front and centre in the business world.
That was certainly one of the strongest messages that came out of JLL’s annual property predictions event this week.
“One of the biggest changes during 2019 has been the recognition from the industry of the importance of sustainability and the climate emergency,” said UK chief executive Chris Ireland. “The real impact we can make as a business is working with occupiers and investor clients to help embed sustainability across all of your portfolios.”
And this is no longer an option. Not only is this a moral imperative, this is now a business imperative.
Lloyds Banking Group’s Madeleine McDougall said banks will not finance buildings that haven’t been built, and cannot operate, sustainably. Tenants won’t occupy those buildings, she said, and banks will not lend on obsolete buildings.
So I challenge Blackstone on that “surprise”. I’m most definitely a “less than average” investor, but I have faith that the centrist view will not prevail. Please don’t let me be wrong. I’m a really sore loser.
Talking of losers. Here’s how not to be one. Start thinking about your entry for this year’s EG Awards now. We have 20 awards for 2020, neatly split into four groups – company, sector, deal and human. Alongside some of the more traditional elements of the sector, we will also be seeking to celebrate those among you who are doing your bit for the planet with a sustainability award; we want to celebrate the best in the build-to-rent sector and find the stars operating in property management. Find out more about all of the categories by visiting www.egi.co.uk/eg-awards-2020 and if you have any questions, please don’t hesitate to ask. The competition starts now.
To send feedback, e-mail samantha.mcclary@egi.co.uk or tweet @samanthamcclary or @estatesgazette
