Being a signatory of the BBP Member Climate Change Commitment allows us to work with our peers to be a leader for change. Nuveen Real Estate’s tomorrow’s world approach is about delivering outperformance for our clients and protecting tomorrow’s world by implementing an investment strategy that aligns positive returns with taking action on climate change, as well as addressing a wide range of other environmental, social and governance issues.
We have made a commitment to reduce the energy intensity of our global equity portfolio by 30% by the year 2030. This responds to and supports the goals for sustainable real estate established at the Paris Accord in 2015 and puts us at the forefront of the transition to the low-carbon economy.
For some investors transparency around sustainable performance is now a deciding factor for where to invest capital
Therefore, the BBP’s commitments perfectly align with our own and it also makes business sense. One of the most significant recent changes we have noticed is the extent of engagement from investors on the topic of sustainability. For some investors transparency around sustainable performance is now a deciding factor for where to invest capital. We believe that net zero carbon buildings will be easier to sell, more attractive to tenants and less vulnerable to obsolescence.
Therefore, it is obvious to us that we should be supporting initiatives that are helping to ‘future-proof’ the industry and to develop understanding of the low carbon economy transition. We believe that transparency is key to change, and by asking its members to publish their pathways to net zero carbon by 2020, the BBP is creating accountability and leading the way for lasting change.
Abigail Dean is global head of sustainability at Nuveen Real Estate
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