British Land has made a strategic investment into Fifth Wall’s Climate Technology Fund, following on from its previous investment into US-based VC’s Fund 11.
The investment will see the developer collaborate with real estate tech businesses across the world looking to find innovative solutions to the climate crisis.
The fund, launched by Fifth Wall at the start of 2020, looks to invest in climate-focused technologies which directly impact the carbon footprint throughout the real estate lifecycle, from innovative materials to demolition, building operation and recycling.
David Walker, chief operating officer at British Land, said: “Sustainability is integral to our business and we have a clear strategy to deliver against our ambitious 2030 goal to make our whole portfolio net zero carbon.
“As we continue to make progress, we know that new technologies will play an increasingly important role in both the development and operation of our places. This investment will help us grow our expertise in climate tech, gain exposure to innovative solutions that are directly applicable to our business, and retain our industry-leading position on sustainability.”
Brendan Wallace, co-founder and managing partner of Fifth Wall (pictured), said: “The real estate industry is recognising its role in contributing to climate change and is taking steps to decarbonise the built environment in order to achieve a more sustainable world for all. We look forward to connecting British Land to critical decarbonisation technologies that can advance their sustainability priorities.
“The challenges we face are all-encompassing in scope and global in reach and therefore it is critical that we uncover and invest in the solutions that can decarbonise the world’s largest asset class. We look forward to continuing to partner with real estate industry leaders like British Land, from whom we can also learn and which are key to ensuring that vital new technologies are deployed.”
To send feedback, e-mail emily.wright@eg.co.uk or tweet @EmilyW_9 or @EGPropertyNews
