The AREF ESG & II Committee is delighted to launch the first in a series of three articles for our members exploring the concept of a 'Just Transition' within the context of UK real estate.
Climate change is an urgent challenge, with those most affected by its impacts often having contributed the least to its causation, frequently due to poverty. This situation has led to the concept of a 'Just Transition', which acknowledges that achieving net-zero emissions alone is not sufficient. To be truly effective, it is necessary to address the socio-economic impacts of transitioning to net-zero, such as potential job losses and rising energy prices.
For UK real estate investment managers controlling £360 billion of Assets Under Management committed to net-zero targets, this presents both a challenge and an opportunity. The question is not just whether we can decarbonise our portfolios, but whether we can do so in a way that protects and empowers the communities where we invest.
This article defines a Just Transition for UK real estate and explains why it matters now to us as an industry.
Look out for further articles in the coming months exploring how value derived for the community through a Just Transition can also be realised by real estate investors, as well as practical steps and considerations focussed on the real estate industry.
Download article here or click the image below.
For any enquiries relating to this, please email us in the first instance at [email protected] and we will forward your enquiry onto the authors/working group.
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