A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Sustainable Real Estate Development: How to Measure the Level of Introduced Sustainability?
Climate fragility has shifted economies to sustainable principles. The global concerns of climate and business ethics make operators of all markets interested in environmental, social and governance (ESG) issues, which add sustainable risks and opportunities in traditional financial analysis.
In this context, the real estate market plays a key role in reducing the environmental pressure. Buildings are higher consumer of resources, producer of emissions, and fundamental drivers of society and the economy. However, the real estate market poorly addresses the environmental and social costs/benefits of operations. For real estate, investors are still unclear about which operations can improve ESG and can hold additional financial benefits.
Thus, the present research reason on the ESG implementation in the real estate market. The aim is to implement an ESG framework to evaluate and compare the effects of different investment decisions on real estate operations.
First, after underling the context of sustainable real estate operations, and analysing the state-of-the-art in the application of ESG, the present research concentrates on the definition of the framework. This is made of 52 indicators, divided into six clusters (Site, Territory, Services, Materials – Technologies, Energy – Emissions, Water, Well-being, Social – Economic, and Governance).
Second, the Analytic Hierarchy Process (AHP) is chosen to implement the weights’ matrix due to its usability to disentangle complex issues into little steps, and its ability to measure and compare qualitative and quantitative performances.
Finally, the framework is discussed, and some possible improvements are presented. Especially, the application to a case study would help to test the reliability and effectiveness of the framework.
Sustainable Real Estate Development: How to Measure the Level of Introduced Sustainability?
Climate fragility has shifted economies to sustainable principles. The global concerns of climate and business ethics make operators of all markets interested in environmental, social and governance (ESG) issues, which add sustainable risks and opportunities in traditional financial analysis.
In this context, the real estate market plays a key role in reducing the environmental pressure. Buildings are higher consumer of resources, producer of emissions, and fundamental drivers of society and the economy. However, the real estate market poorly addresses the environmental and social costs/benefits of operations. For real estate, investors are still unclear about which operations can improve ESG and can hold additional financial benefits.
Thus, the present research reason on the ESG implementation in the real estate market. The aim is to implement an ESG framework to evaluate and compare the effects of different investment decisions on real estate operations.
First, after underling the context of sustainable real estate operations, and analysing the state-of-the-art in the application of ESG, the present research concentrates on the definition of the framework. This is made of 52 indicators, divided into six clusters (Site, Territory, Services, Materials – Technologies, Energy – Emissions, Water, Well-being, Social – Economic, and Governance).
Second, the Analytic Hierarchy Process (AHP) is chosen to implement the weights’ matrix due to its usability to disentangle complex issues into little steps, and its ability to measure and compare qualitative and quantitative performances.
Finally, the framework is discussed, and some possible improvements are presented. Especially, the application to a case study would help to test the reliability and effectiveness of the framework.
Sustainable Real Estate Development: How to Measure the Level of Introduced Sustainability?
Innovative Renewable Energy
Sayigh, Ali (editor) / Pomè, Alice Paola (author) / Ciaramella, Andrea (author) / Sdino, Leopoldo (author)
2023-09-08
14 pages
Article/Chapter (Book)
Electronic Resource
English
Embedding Sustainability in Real Estate Transactions
| British Library Online Contents | 2019
Real Estate & Sustainability Assessment. Invited Speech
| DataCite | 2007
Towards sustainable real estate appraisals
| British Library Conference Proceedings | 1995