The European Association for Investors in Non-Listed Real Estate Vehicles (INREV) has formed a new focus group, created to further support the integration of environmental, social, and governance (ESG) factors into real estate investment valuations and underwriting.
The group comprises senior experts from across the industry, such as investment managers, institutional investors, valuers, and representatives from the Big Four accounting firms. The organizations include:
KLP
APG
PGGM
Ivanhoé Cambridge, the real estate group of CDPQ
CBRE IM
DWS
AXA IM Alts
Altera
Savills
JLL
PwC
EY
Most notably, the group will seek to drive greater consistency across the industry on how ESG data and assumptions are incorporated into future value estimations.
One of the focus group’s key objectives is to develop a framework of ESG factors that should be considere