In 2021 we launched EVORA Insights, a series of industry engagement events, reports, and thought leadership – to better understand the ESG evolution in real asset investment. This is aligned with one of our strategic objectives – to understand our clients better, so that we can support them to accelerate the evolution and adoption of sustainable real asset investment.

Latest News:

Regulations, Policy and Frameworks

G7 pledges to invest $600 billion into infrastructure for developing countries

G7 to set up Climate Club | G7 Germany 2022

CDP’s 2022 campaign calls on the world’s highest impact companies to disclose environmental data

Sustainability reports and disclosures to be audited for large non-EU companies

Pension Fund required to disclose portfolio alignment to 1.5 Degree Celsius

The European Union has agreed on a landmark deal requiring that companies ensure at least 40% of their seats on corporate boards go to the “underrepresented sex,” which is typically women. The move comes after 10 years of stalemate over the proposals.

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The Bank of England (Bank) has today published the results of the Climate Biennial Exploratory Scenario to explore the financial risks posed by climate change for the largest UK banks and insurers (participants).

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The European Union is pursuing its own sustainability standard-setting agenda via the Corporate Sustainability Reporting Directive (CSRD), which aims to move investors towards sustainable investments. The CSRD would replace the Non-Financial Reporting Directive (NFRD), which was introduced in 2014.

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The role of Environmental, Social, and Governance issues – or “ESG” – in investing has undeniably changed over time. Investor demand for products and strategies that take into account ESG factors has increased dramatically over the past decade. And, the asset management industry has responded to meet that demand.

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The proposed rules, applicable to both domestic and foreign registrants, would require significantly enhanced climate-related disclosures in registration statements and annual reports (e.g., on Form 10-K).

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The Climate Corporate Accountability Act (CCAA) – Corporations with more than $1 billion in annual revenue would be required to disclose all scopes of their greenhouse gas emissions to the California Secretary of State’s office under a first-of-its-kind bill the state Senate passed on Jan 26, 2022.

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The AMF (Autorité des Marchés Financiers) sets out in this document its priorities for action for 2022, the last year of implementing its five-year strategic plan #Supervision2022.

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The Monetary Authority of Singapore (MAS) and CDP, signed a Memorandum of Understanding (MOU) to promote sustainability disclosures and access to quality ESG data across the financial sector and the real economy.

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In March, Canada’s new 2030 Emissions Reduction Plan (the “Plan”) was tabled. The Plan describes the existing and new measures that seek to ensure that Canada reaches its emissions reduction target of 40 to 45 per cent below 2005 levels by 2030 and sets Canada on a path to achieving net-zero emissions by 2050.

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Framework/Institute level updates

TNFD releases second iteration beta framework

ESAs provide clarifications on key areas of the RTS under SFDR

Advancing sustainable production on land and sea

Integrated Reporting—articulating a future path

Construction leaders launch EU Policy Roadmap

A group of 16 investors representing the US $19 trillion have launched a round of coordinated engagements to strengthen dialogue on ESG performance and GRESB participation with real estate companies across 12 key markets in the APAC region.

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TNFD knowledge partners are a multi-disciplinary group of leading international organisations that will support the Taskforce in developing integrated risk management and disclosure framework for nature-related risks.

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Beta release is the first integrated approach to incorporating nature-related risk and opportunity analysis into the heart of corporate and financial decision making. The release marks the start of an 18-month process of consultation and development together with a broad range of market players and stakeholders.

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The second round of Net Zero Company Benchmark assessments shows some corporate climate progress against key climate indicators, but finds much more action is urgently needed from focus companies to support global efforts to limit temperature rise to 1.5°C

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The IFRS Foundation and Global Reporting Initiative (GRI) have announced a collaboration agreement under which their respective standard-setting boards, the International Sustainability Standards Board (ISSB) and the Global Sustainability Standards Board (GSSB), will seek to coordinate their work programmes and standard-setting activities.

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The International Financial Reporting Standards Foundations (IFRS) announced the release of the first exposure drafts of proposed standards for company sustainability and climate-related disclosures by its International Sustainability Standards Board (ISSB).

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Finance

Nuveen ETF Provides Global Economy’s Transition to Net Zero Carbon

Brookfield Raises Record $15 Billion For Inaugural Global Transition Fund

Singapore Gears Up for Green Bond Sale With New Framework

PGIM Investments Launches Third ESG Bond Fund

PGIM Real Estate finances record $22B in loans globally in 2021

Industry updates

Hines Sets Net Zero Goal Across All Buildings By 2040 Without Buying Offsets

BlackRock Urges SEC to Change Climate-Risk Disclosure Plan

Shell, Chevron, ExxonMobil: how we’re voting at oil and gas AGMs

Aviva Investors makes strong progress towards net zero targets

DWS secures green energy across European real estate assets

Driven by increased client demand for climate aware solutions, the L&G Net Zero Global Corporate Bond Fund is an active strategy that aims to deliver long-term returns, net zero carbon emissions and improved ESG outcomes.

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S&P Global Ratings expects global issuance of sustainable bonds–including green, social, sustainability, and sustainability-linked bonds–will surpass $1.5 trillion in 2022.

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The EIB approved the new Environmental and Social Sustainability Framework (ESSF). As part of the framework, for the first time, a Group-wide Environmental and Social Policy outlines the Group’s vision on how to address the environmental and social challenges we are facing and uphold human rights in all of its activities.

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The International Capital Markets Association (ICMA) has warned that proposed amendments to the European Commission’s initiative to regulate the green bond market could result in a loss of EU sustainable finance leadership, and disruption to the broader international market for sustainable bonds.

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The NGFS announced that Mr Ravi Menon (Managing Director of the Monetary Authority of Singapore) has been named the new Chair of the Network for Greening the Financial System and Ms Sabine Mauderer (Member of the Executive Board of the Deutsche Bundesbank) has been named Vice-Chair, both for a two-year term starting in January 2022. Thereafter, Ms Sabine Mauderer will take over as Chair for the subsequent two years.

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The Fund invests in issuers globally that are expected to enable, and/or benefit from, the transition to a lower greenhouse gas emissions economy and to net-zero carbon emissions.

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Nuveen, the $1.2 trillion AUM investment manager of TIAA announced the launch of Nuveen Green Capital, a new brand for its sustainable commercial real estate financing solutions business Greenworks Lending.

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Goldman Sachs Asset Management (GSAM) announced a series of updates to its proxy voting policy, raising expectations for companies on climate reporting and in other sustainability-related performance areas.

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Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has announced plans to refurbish 30 Golden Square in Soho, London W1, as part of its ongoing commitment to decarbonising existing buildings in its portfolio.

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M&G plc has acquired a majority stake in sustainable housebuilder Greencore Construction (“Greencore”), on behalf of policyholders in its £143 billion Prudential With-Profits Fund. The investment will help Greencore to significantly expand its capacity and increase its impact across the UK.

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Reports

Market Intelligence Report

January – March 2022

Quarterly digest capturing real estate sustainability and ESG industry updates

Market Intelligence Report

January 2022 Edition

Industry highlights from last year and insights into what we can expect from 2022

Market Intel Report

Market Intelligence Report

July – September 2021

Quarterly digest capturing real estate sustainability and ESG industry updates

real estate sustainability and ESG industry updates

Market Intelligence Report

April  – June 2021

Quarterly digest capturing real estate sustainability and ESG industry updates

Market Intelligence Report

January  – March 2021

Quarterly digest capturing real estate sustainability and ESG industry updates

White papers

COP26: A Summary

Everything you need to know about COP26.

Scenarios for Strategy Planning

The use of scenarios is a popular tool in strategic planning. This paper looks at why scenarios are becoming so important for sustainability strategies.

SFDR & Infrastructure Investments

A review of SFDR’s impact and the suitability of existing sustainability reporting frameworks for SFDR

Climate Risk is Investment Risk

An introduction to climate risk for investment managers and strategies for how to mitigate these risks

Climate Risk Readiness

Climate Risk Readiness

Helping companies to understand, manage and talk about climate risk

SDGs and Infrastructure

An introduction to Sustainable Development Goals (SDGs) and how it connects to infrastructure

Mispricing Climate Risk in Real Estate

12 questions to be asked by banks, asset managers and institutional investors.

Blog posts