The Property Working Group of the United Nations Environment Programme Finance Initiative has launched the first in a series of toolkits aimed at helping investors get to grips with responsible property investment (RPI).
The package, entitled ‘Committing and Engaging’, identifies the seven main steps organisations need to take to lay down a solid foundation to institutionalise RPI.
They include understanding the meaning and value of RPI for an organisation, identifying material risks and opportunities, managing and measuring success, and collaborating with stakeholders to develop and mainstream RPI practices.
The UN claims that responsible investment is fast moving up the agenda for institutional property investors, but that many remain uncertain about how best to put RPI into practice.
Professor Paul McNamara, co-chair of the UNEP FI Property Working Group and head of research at PRUPIM, said: “It is becoming increasingly clear that there is a growing willingness among property investors to take action and address material ESG issues, such as climate change, which property ownership and management raise.
“However, for many, the question is ‘Where do I start – and how?’ These toolkits are designed to show investors how best to apply RPI principles across all aspects of the investment process.”
