LISTEN: On this week’s Tech Talk Radio, Emily Wright chats with Fifth Wall’s Brendan Wallace and Tyson Woeste about their new fund, which they say is “one of the most significant things to happen to real estate since the internet”.
The fund will allow real estate companies to invest in sustainable and energy-efficient technologies.
The duo talk about why the time for action is now as the general public, capital markets and regulators alike are all starting to ask what the real estate sector is doing to take responsibility for its role in climate change.
“We want to make the real estate industry more energy efficient than it is currently,” says Wallace. “Everyone on planet Earth is in the middle of this crisis and real estate owners haven’t accepted the responsibility they have. It is time. The real estate industry has to come together to solve this.”
Wallace and Woeste go on to add that the problem will not be solved by hundreds or thousands of real estate owners looking to individually assess technologies and then individually apply them to their portfolios. Rather everyone needs to come together to solve a “collective problem”.
Given the fact that Fifth Wall manages “a billion dollars’ worth of capital” from 52 real estate corporates across the world already, it feels well placed to be the driving force behind bringing the sector together to help take on “the biggest fight of our generation.”
To send feedback, e-mail emily.wright@egi.co.uk or tweet @EmilyW_9 or @estatesgazette
