Asset owners outline challenges in making properties 'green'
The head of ESG at Allianz Real Estate said that making brown buildings green adds only 5% to 10% to renovation costs. Yet some investors are reluctant to make the changes.
The chief sustainability officer at Allianz Real Estate has said that the cost of reducing a building’s emissions was low when done as part of routine refits and should not provide grounds for delay.
“[ESG refits] are usually done when we have to upgrade or refurbish a building anyway. The additional cost of the ESG upgrade is minimal. Sometimes there is no additional cost,” said Dr Raphael Mertens, chief sustainability officer at Allianz Real Estate, the company managing the pr…
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