Half of UK property professionals say investors unfazed by climate change
Suzanne Lovell
Climate risks are irrelevant or not important to investors in the UK, according to 47% of respondents in a RICS commercial and construction survey.
The global survey of 4,000 real estate professionals found that the majority of construction participants believe investment decisions are made on cost, despite interest in future-proofing.
Some 25% of respondents said energy efficient buildings and those that rely on renewable resources are increasingly viewed as an attractive form of investment, compared to 30% globally and 41% in China and Hong Kong.
Additionally, 37% said investment into energy efficient buildings was still limited to niche investors.
Simon Rubinsohn, RICS chief economist, said: “While climate risk and resilience appear to be climbing up the list of considerations for investors in the built environment, the survey results suggest there is some way to go before these issues are treated as mainstream investment criteria.
“Nevertheless, the judgement that energy efficient buildings are being increasingly viewed as an attractive investment does suggest that there is a solid foundation to build upon in raising awareness of the importance of sustainability going forward.”
The survey was conducted ahead of the RICS World Built Environment Forum held on 13 and 14 May in New York. The summit will focus on responsible investment and the future impacts of real estate, technology and infrastructure.
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Source: EGI.co.uk
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