Within the world of real assets, we must engage across the spectrum — our stakeholders come in all forms, whether that be investors, occupiers, borrowers, local authorities, local communities, partners in our supply chain and even consumers. And thus, to achieve meaningful change at scale, we need global collaboration alongside clear and considered regulation.
For example, there is no "one" standard for a net-zero building. To tackle this, in the U.K., a number of climate groups have come together to produce a coalition — to ultimately conclude on a U.K. net-zero carbon buildings standard. This is an important step, and one that needs to happen globally; with a lack of standards, we are faced with a range of goalposts. If we can't set the goal, how do we get there? Without an aligned approach, or even an agreed understanding of what success looks like, we won't progress.
The asset management industry has an important role to play in expediting the transition to a low-carbon society through the capital we invest and manage on behalf of our clients. Our purpose as an industry is unequivocal –— protecting our society and future generations from the consequences of climate change, and as a result, supporting a more environmentally, economically and socially sustainable world.