Mace survey shows global climate response is largely theoretical
Sustainability Mace survey shows global climate response is largely theoretical
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The survey spanning 14 sectors such as architecture and engineering, residential real estate, retail and leisure, and infrastructure, aimed to gain insights into how asset managers are addressing the global climate challenge
Mace has conducted a new worldwide survey that revealed that while 97% of asset managers believe they can keep pace with environmental regulations and reporting requirements, only 20% are actively implementing sustainability strategies and achieving sustainable outcomes.
Mace's State of Sustainable Assets report was conducted by Censuswide, who surveyed over 4,000 building portfolio and asset managers across the UK, UAE, USA, and Hong Kong. The survey, spanning 14 sectors such as architecture and engineering, residential real estate, retail and leisure, and infrastructure, aimed to gain insights into how asset managers are addressing the global climate challenge. With recent developments almost confirming that the world will surpass the Paris Climate Agreement's 1.5-degree target and the built environment contributing 40% of global emissions, the study underscores the urgent need for further action.
The report details the broad value creation when it comes to sustainable assets, including strengthened resilience, competitive advantage, reduced operational costs, and increased asset value. But what seems incongruous is that 54% of respondents recognise that more sustainable assets are crucial to unlocking financing for their business and are becoming a standard mandate from outside investors.
In the UAE, finance is a motivator that rises to 58% of asset managers, with the most important areas of investment to deliver sustainable portfolios being data and AI (52%), ahead of green skills and talent (17%), standardisation of reporting frameworks (16%), and decarbonisation technologies (14%). On the reporting side, 69% of UAE asset managers feel 'very able' to keep pace with regulations and reporting, compared to 57% globally, the report revealed.
James Low, Global Head of Responsible Business at Mace said, 'It is imperative businesses have sustainable assets and with many making Net Zero carbon commitments for 2030 and 2050, asset managers have a crucial role to play in shaping the future of our growing urban environments. This study has found that sustainable solutions can combine environmental and financial advantages, however, most asset managers have only just started their journey when it comes to implementing their strategies. But with asset managers now able to keep pace with current environmental regulations and reporting requirements, it's time to enact their strategies with tactics that can be implemented and measurement systems needed to get them off the mark.'
Tushant Suri, MEA Responsible Business Lead at Mace added, 'As we accelerate towards a Net Zero future, the report shows sustainable assets are no longer a niche – they are the foundation of resilient and future-ready infrastructure. At Mace, we believe the integration of sustainability into every stage of an asset's lifecycle is essential to unlocking long-term value, creating a positive impact on environmental, societal and financial outcomes.'
To achieve measurable outcomes, the report emphasises that asset managers should prioritise sustainable skills to adopt a digitally enabled approach. By aligning strategic thinking with technology, they can unlock the most impactful outcomes for greener portfolios.
While some strategies may not have been successfully implemented yet, there's a positive outlook for optimists. Asset managers hold a unique position as intermediaries between tenants and owners, enabling them to advocate for sustainability. Swift and decisive action now can lead to a healthier built environment in the future, the firm noted.
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