Implementing ESG at senior and student housing assets
Alternative asset classes, such as student accommodation and senior living, have particular challenges related to implementing environmental, social and governance (ESG) measures, but they also have particular opportunities, especially in the current environment.
The biggest challenges to implementing ESG measures at senior or student housing assets are related to their smaller size and shorter lease terms. As an example, Jill Brosig, chief impact officer at Harrison Street, notes that smaller properties face a higher per-square-foot cost for implementing certification from organizations such as LEED or BREEAM.
But that does not mean such asset types do not address ESG factors. Taking measures to improve energy efficiency are important and provide environmental benefits and cost savings, no matter the building size. And senior and student housing assets are especially well suited for the implementation of measures to improve the social element of ESG.