While an interest in understanding and improving environmental and social impact of the real estate industry is growing, there are gaps in knowledge around the role that real estate investment plays in social value creation and how social value can be defined and measured.
The ULI report “Zooming in on the “S” in ESG: a road map for social value in real estate” offers a shared understanding of social value in real estate. Challenges and opportunities were identified through global surveys and in-depth interviews with practitioners. Existing frameworks and tools were mapped with the aim to support real estate investors and developers to better incorporate social value in their decision-making. The report concludes with a road map highlighting six areas of actions to enhance real estate’s contribution to creating healthier, more equitable and more sustainable cities and places.
The report is a product of co-creation between co-authors, COCREATIF Founder Eime Tobari and The Good Economy CEO Sarah Forster, ULI and the steering group. This collaboration helped understand the complexity of the real estate industry and broader context concerning social value creation. The report is available on Knowledge Finder for ULI members. If you are interested to learn more, please contact.
“As providers and stewards of the built environment, the real estate industry clearly has a clear role to play in creating social value. However, the financialisaton of real estate – where property is solely looked at through the lens of being a financial asset which can generate revenue and profit – has led to a disconnect between financial value creation and social value creation.”
Lisette van Doorn, CEO of ULI Europe
"We hope our research enables the real estate industry, through the Urban Land Institute, to begin to consider how it creates value beyond property values and yields. We hope this is the start of a journey that will enable companies to account for the contribution they already make to wider society and, more importantly, consider how this can be enhanced in the future.”
Sarah Forster, The Good Economy's CEO and co-author of the report
The post image: the report cover by courtesy of Urban Land Institute.
Brent Cross Town visualisation looking east, London. © Cityscape Digital.