CoreLogic UK’s Post

Here is my latest article in this month's Intermediary magazine. Have a read. https://lnkd.in/eXJZVBmU https://lnkd.in/eWApcVp5 #qualitydata #netzero #biodiversitynetgain #newbuild #retrofit

The #IFC is investing US$301 million in #Vinte’s #GreenHousing to advance #Sustainability, affordable housing and #ClimateGoals. Visit #MexicoBusinessNews for updates on the #RealEstate industry! #Mexico #EDGEcertified #HousingInnovation

In this article, Mark Carney highlights the risks to property owners and lenders from older buildings that cannot adapt in a move to net zero, resulting in “significant stranded assets” in commercial real estate. This is underscored by a report by investment manager AEW finding that "European real estate investors need to increase their annual capital spending by 30 per cent to get on top of upgrading buildings". Infrastructure is an area that will require significant prioritisation in coming years in order to transition to a low carbon economy but also to protect the value of investments in assets, minimising the risk of assets becoming stranded. #sustainableinfrastructure https://lnkd.in/e4TQSwYj

Sustainability isn’t just a buzz word anymore. René Demers from National Bank of Canada emphasizes the risks of non-green real estate becoming obsolete due to stricter regulations and higher demand for sustainable properties. The bank has committed to green financing, exceeding its green loan targets in 2023.🎯 It also advocates for both new constructions and retrofits of existing buildings to meet #netzero emissions goals. Despite challenges in retrofitting, the bank sees significant opportunities for #energyefficiency improvements. The shift toward green building is driven by both regulatory pressures and the financial benefits of lower energy costs and higher rental premiums. National Bank supports this shift through financing incentives and aims to lead in the transition to a low-carbon economy. ‼️Read more about it here: https://lnkd.in/gan3DscE

One of the more positive trends I've noticed of late is the realization that neighborhood-scale action is critical to solving some of the most pressing climate challenges. Here's an example of why this matters: In the wake of the financial crash, newly elected President Obama passed the Recovery Act in 2009, which included a $5 billion home energy retrofit/weatherization program that was designed to boost the economy while also helping homeowners reduce their energy bills and carbon emissions. Win-win-win, right? My late mother, who lived in a lovely bungalow house built in the 1930s that still had its ORIGINAL FURNACE, benefited from this program. But here's the thing: she was a very proactive and informed person who knew how to take advantage of such things. She was also semi-retired and had the time to be her own advocate. This is not most people's situation. By January 2012, 612,390 homes or apartments had received energy retrofits courtesy of the stimulus bill. This is a good thing but not nearly good enough. Today, only 1% of buildings globally have undergone retrofits, and it's not necessarily due to a lack of money. It's due to putting the burden on individuals versus a community-scale approach. This is why Bankers without Borders (BwB) has developed a "place-based approach" to financing and implementing residential retrofits. Find out how bankers without borders is one of a growing number of organizations that is pioneering place-based action to address climate challenges. Thanks to Christine Zhou and Rupesh Madlani for this Agenda post for the World Economic Forum. https://lnkd.in/eRcWTDBw

Which market was valued at USD 4.18 trillion in 2023? That's right; the green financing market 💰 Thanks to government push and strong investor sentiment, green loans are growing in availability and popularity and the market is expected to grow at 21.25% in the next decade. Not too shabby. So, what is a green loan anyway? It's a type of loan that exclusively funds projects that are environmentally friendly and contribute to the green transition (like reducing greenhouse gas (GHG) emissions). In essence, green loans can finance various projects as long as they contribute to the climate targets – reducing emissions and limiting global temperature rise to 1.5 degrees Celsius by 2050. There are many benefits (for everyone) but they're particularly beneficial for the real estate industry. They can be leveraged to construct sustainable buildings and infrastructure projects and provide funding for making existing buildings greener. When it comes to green loans and real estate, it's important to note that green certification, such as BREEAM, DGNB, or LEED, may be a core requirement to prove the building’s structure and operation's eco-friendliness. Want to know more about both green loans and certifications? Check the link in the comments 👇

Climate transition planning in residential real estate or your measurable contribution as social and affordable housing provider towards a lower-carbon economy. It may not keep you awake at night unless you are on holiday in the 35+ degrees Mediterranean climate. With national climate targets still ambitious yet more realistic, to keep on track with retrofitting legacy housing stock remains quite a balancing act due to funding and supply chain challenges. However, housing lenders and investors rely on timely retrofit delivery of their borrowers to reduce their financed emissions in their loan books. This paper provides further insights and aims to guide social housing providers, particularly in the UK, towards effective climate transition planning, informed by lenders’ expectations. Decarbonisation pathways are co-driven by lenders' climate transition plans for the simple fact that both must avoid stranded assets. Therefore, we advocate that housing providers make a step change in their carbon counting and carbon risk methodologies thereby learning from and adopting standards from the global financial services sector, eg. PCAF, TPT and CRREM.   Also, customised energy management models will support the housing sector’s contributions to affordable, viable and timely retrofit practices. These models are quite common for social housing providers in continental Europe and could be ‘low hanging fruit’ for UK housing associations assuming proper alignment with the regulatory UK energy market.   This paper brings together the expertise of RITTERWALD Unternehmensberatung GmbH, pan European residential consultancy serving public and private sector housing and energy companies and Lookthrough, Swiss based AI-driven software firm for developing and implementing financially viable decarbonisation pathways for residential asset managers of institutional investors. #climatetransitionplans #digitisation #socialhousingretrofit #housingdecarbonisation #sustainablehousingfinance #energymanagement

Here’s our round-up of the main #UKHousing policy news and events from the past week 🏘️ 📰 ◾The King’s Speech set out the new government’s priorities for the year ahead. We’ve produced a CIH member briefing ➡️https://ow.ly/FASp50SFNQO ◾CIH & Savills have published a new report on how an updated debt settlement could improve council housing investment in homes ➡️https://ow.ly/Bxrv50SFNQQ ◾We joined with Crisis & partners in calling on the new govt to scrap the Vagrancy Act ➡️ https://ow.ly/a5X550SFNQC ◾The Regulator of Social Housing has published its annual consumer regulation review report which identifies areas for learning ➡️https://ow.ly/tai150SFNQw ◾The Housing Ombudsman has published a complaint handling failure order report which highlights high records of non-compliance ➡️https://ow.ly/Gi5050SFNQF ◾Shelter have published a plan to deliver more social homes & affordable housing ➡️https://ow.ly/kQPN50SFNQN ◾KPMG have published a new report on decarbonising homes ➡️https://ow.ly/nzAs50SFNQK ◾The Competition and Markets Authority has published new guidance on how insulation & green heating technologies should be marketed ➡️https://ow.ly/I6vi50SFNQG ◾Kings College London have published an analysis of the future of Work Capability Assessments ➡️https://ow.ly/CfCg50SFNQL ◾The Climate Change Committee have published their 2024 progress report, highlighting we are off track to meet emissions reduction targets in buildings ➡️https://ow.ly/pOei50SFNQu ◾The final report of the London Climate Resilience Review has been published ➡️https://ow.ly/4q0E50SFNQy ◾The latest English Housing Survey summary reports, covering 2022, have been published ➡️https://ow.ly/46W250SFNQv ◾Around 300,000 houses could be delivered on the ‘Grey Belt’, according to Landtech ➡️https://ow.ly/uQY150SFNQH ◾CIH has responded to the government’s STAIR consultation (thanks to members who fed in) ➡️https://ow.ly/BxQP50SFNQA ◾Updated guidance & application timelines for the Green Heat Network Fund & Heat Network Efficiency Scheme have been published ➡️https://ow.ly/xTR150SFNQE ◾House of Commons library reported inflation falling to 2% but food prices are still rising, impacting those on the lowest incomes the most ➡️https://ow.ly/bKKA50SFNQB ◾Welsh Government has published its heat strategy ➡️https://ow.ly/qPLa50SFNQz ◾Wales’ First Minister has announced that Jayne Bryant MS has been appointed the Cabinet Secretary for Housing, Local Government and planning ➡️https://ow.ly/H8mR50SFNQP ◾Welsh Government has published the results of the homelessness outcomes framework workforce survey ➡️https://ow.ly/g6vR50SFNQx ◾Homes for Scotland reports that 1,800 affordable homes have been stalled due to Scottish Government budget cuts ➡️https://ow.ly/2yAS50SFNQJ 👀ICYMI 👀 If you work in supported housing & missed yesterday's network meeting you can watch the recording ➡️https://shorturl.at/p56pA 📧[email protected] to register for future mgs

🏘️💰 Net Zero Plan: A Billion-Pound Challenge for Landlords 🌍💸 Ed Miliband's ambitious net zero strategy could reshape the UK's rental market: 🏠 Landlords face potential £36 billion bill for property upgrades 💷 Average cost per property could exceed £10,000 🎯 Goal: Boost minimum EPC rating to C by 2030 🏃♂️ Critics fear landlord exodus and rising rents 🏢 Housing associations also impacted, with billions in estimated costs 🏚️ Older properties present significant retrofit hurdles 🤔 Debate: Landlords' moral duty vs financial burden 👷♀️ Concerns over skilled workforce availability for renovations 💡 Proposed support: Tax breaks, grants, and low-interest loans 👨👩👧👦 Government aims to lift 1 million+ households from fuel poverty Is this plan a necessary step towards sustainability or a potential market disruptor? Share your insights below! 👇 #NetZero #PropertyMarket #ClimateAction #UKHousing

Here is our take on #Budget2024. Lots of pre-announcements removed some of the mystery of the Budget, and from a climate perspective it would have been great to see the EV ITC be broader to assist in the deployment and adoption of battery storage for electricity purposes. Overall, steps in the right direct for housing affordability but with a lack of commitments to energy efficiency risks long term affordability and carbon reductions. #cdnpoli #cdnecon #fiscal #climate #taxcredits