EVORA at New York Climate Week: What’s Happening and What’s Next

New York Climate Week is back, and the urgency around climate action has never been clearer. As EVORA attends events throughout the city, we’re eager to continue the momentum from last year and explore how the industry is responding to the growing demand for sustainable solutions. Our team is ready to engage in the key conversations shaping the future of real asset investment and sustainability. Here’s what we’re expecting, and how we see the path ahead. 

There’s a clear sense that this year’s event will build on the progress we’ve seen since last year. Private investment in clean energy has surged, and the landscape is changing rapidly. “Financing has seen a huge uptick since last year’s Climate Week”, says Ed Gabbitas, Founder and Head of North America. “Private companies have invested billions in clean energy manufacturing, electric vehicles, batteries and clean power generation. State and Federal incentives, such as the Inflation Reduction Act and NYSERDA’s energy programs and incentives, have been a key catalyst. As interest rates start to fall, I expect funding to increase further as the cost of capital reduces, which adds to the business case of taking action.” 

So, what are the key conversations shaping this year’s Climate Week? For Kris Kolenc, Business Development Manager, North America, who’s attending for the first time, several topics stand out: “Decarbonization and climate action will continue to be key themes, but I’m also looking forward to discussions around sustainable finance, health and wellbeing, and nature – another key topic will be determining how industry and policy can work together to support climate action. Very excited to be part of these discussions and how they intersect with the built environment.” 

EVORA at New York Climate Week: What’s Happening and What’s Next These discussions aren’t just theoretical. They have direct implications for real asset investors, who face mounting pressure to align portfolios with Net Zero targets. Audrey Buckman, Senior Consultant, advises on how to start: “For entities in the beginning of their journey, they can start by calculating and assessing their existing carbon footprint to understand their baseline emissions. Once known, they should develop and set clear reduction goals and targets in alignment with industry standards and best practices. Next, the entity should prioritize implementation measures and upgrades that will yield favorable outcomes, while ensuring integration with capital expense planning and execution processes. Finally, the entity should develop procedures and systems to enable ongoing performance management and monitoring, tailored to the portfolio and stakeholders, that will allow for long-term success”, she says. 

One barrier that remains for real asset owners? Reliable data. “Access to timely data is still a challenge, especially for owners relying on tenant cooperation,” Audrey notes. Her suggestion: “Owners should consider integrating green clauses into leases and investing in bespoke data collection processes and tools to best suit the assets.” 

As EVORA participates in events across the city this week, we look forward to diving deeper into these conversations. If you’re attending Climate Week, we’d love to connect – whether at one of the events or at our office. 

Reach out to us via [email protected] if you want to meet up!