The real estate sector faces the challenge of sustainability: new trends and ESG indicators
The College of Economists of Catalonia has hosted the presentation of a new balanced scorecard model containing indicators to measure the results in companies in the real estate and construction sectors.
Original News published by Col·legi d’Economistes de Catalunya.
Experts from the real estate and financial sectors met on Wednesday 5 March at a round table to discuss the importance of ESG (environmental, social and governance) information as a fundamental tool for the sustainability and competitiveness of companies. The event, organised by the Economics and Sustainability and Accounting Committees of the College of Economists of Catalonia (Col·legi d’Economistes de Catalunya), brought to the table new trends in the management of ESG indicators and the challenges facing the sector.
In this context, the ” Sustainable Balanced Scorecard for the real estate” study (see the Spanish Version) was presented, from the UPF-BSM Chair of Decent and Sustainable Housing, in collaboration with the Metropolitan House Foundation, an essential tool for integrating ESG criteria into the business management of the sector.
A key sector in decarbonisation
The real estate sector is the second most important in economic terms, and plays a decisive role in decarbonisation. Aspects such as the energy efficiency of buildings, water footprint or waste management are essential factors in reducing environmental impact. In this context, ESG information allows companies to improve their management and access more favourable sources of financing.
Presentation of the balanced scorecard
During the event, Ramon Bastida, director of the Chair of Decent and Sustainable Housing at UPF-BSM, in collaboration with the Metropolitan House Foundation, presented a new balanced scorecard model adapted for construction and real estate companies. This system integrates indicators that allow measuring environmental, social and governance results, in addition to economic ones, facilitating decision-making based on reliable and up-to-date data.
Practical experiences: digitalisation and regulatory compliance
The round table, moderated by Ana García, president of the Economics and Sustainability Commission of the College of Economists of Catalonia, was attended by representatives from the financial and real estate sectors.
Sandra Jiménez, director of ESG risk admission at CaixaBank, highlighted that the European Union is establishing deadlines for buildings to comply with demanding energy certifications. “All buildings that do not comply will have to invest to adapt to the new requirements,” she said. In this regard, she argued that financing funds are very careful when financing a new real estate project, paying attention to whether compliance with energy certifications is taken into account.
In this regard, Juan José Rodríguez, technical director of Metropolitan House, added that it is very important that the entire sector is aligned because otherwise “we will encounter difficulties in credit, contracting and housing production.” He also stressed the social responsibility of real estate companies, and gave as an example the action carried out by Metropolitan House, promoting affordable housing and collaboration with social projects within the municipalities where they build.
Ambròs Martínez, vice president of the Gremio de Constructores and director of contracting and development at COPISA, stressed the role of digitalisation and business intelligence in improving sustainability processes. “Digitalisation has allowed us to reach the single data, which has offered us the opportunity to work with unique and specific data from each area, making it possible to draw real conclusions,” he explained.
Challenges and opportunities for the sector
The speakers agreed on several challenges and opportunities for the future of the sector:
- Approaching the Sustainable Development Goals and ensuring that strategic plans are met year after year.
- The need to harmonise ESG information to facilitate comparison between companies and projects.
- Integrating the sustainable dimension into the business strategy and adapting to new regulations to continue adding value to society.
Conclusions and closing
The event was closed with a speech by Fátima Piqué, deputy director general of UPF-BSM, who highlighted the importance of sustainability research and the need to improve the transfer of knowledge to the business and social fabric.
The real estate sector is facing a profound transformation to adapt to new sustainability requirements. ESG indicators are emerging as a key tool to improve management, reduce risks and promote a more sustainable and competitive development model.
- Sustainable Balanced Scorecard for the real estate sector study (Spanish version)
- More information about the Chair of Decent and Sustainable Housing
- See the Studies of the Chair
