Episode 365: SPECIAL EPISODE: Norges Bank Says Real Estate Facing Tremendous Pressure to Decarbonize
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Nina Galbiati, Norges Bank\\u2019s global lead sustainability for real estate, was a guest on a special episode of Nareit\\u2019s REIT Report podcast.
Norges Bank is a long-term investor that has roughly 4.1% of their global investment portfolio invested in real estate, with about half of that allocated to public REITs. With the firm\\u2019s focus on maximizing risk-adjusted returns, Norges has been an influential leader in promoting the adoption of sustainability for real estate companies globally for many years.
On this episode of the REIT Report, Galbiati joined Nareit\\u2019s Senior Vice President of Environmental Stewardship and Sustainability Jessica Long to discuss how the real estate industry is addressing a key challenge of decarbonization planning and the importance of real estate companies in the U.S. clearly disclosing their strategy, decision making, and targets around key environmental matters.
\\u201cReal estate is facing tremendous pressure to decarbonize. This is partly regulatory pressure, but it\\u2019s definitely coming from a shift in demand from tenants as well as investors. We don\\u2019t think the current market valuation is pricing those risks adequately today,\\u201d Galbiati said.