With Agenzia del Demanio, Officina per la rigenerazione dell'Immobile Pubblico
ESG strategies for Urban Regeneration
Milan
2023 - present
Urban Regeneration
Milan
2023 - present
Urban Regeneration
Research
Urban regeneration
PPP
Impact Investing
ESG
ESG strategies for Urban Regeneration: a public-private venture
Agenzia del Demanio and PlusValue, in partnership with Lendlease, Cassa Depositi e Prestiti and AREXPO, have established a collaborative working group on ESG strategies in urban regeneration and real estate.
A first workshop was organised in May 2023 to evaluate the current state of the art, drive innovation, and act towards implementing, integrating, and quantifying ESG criteria to create value in urban regeneration processes and foster sustainable real estate investments.
First insights:
- Both private and public players are facing challenges in the application of the European SDFR with varying interpretations of “sustainable investment”, misalignments between adverse activity indicators (PAI) and sustainability-harming (DNSH) activities.
- The public actor is essential for fostering impact-driven solutions: guiding the market, stimulating positive competitiveness, and looking at new mechanisms of impact-driven collaboration, incentives, and rewards.
- The real estate sector must compare its development assumptions with emerging and changing societal needs, thus regenerating the existing catering to communities’ requirements.
- The active participation of multiple actors shows a strong desire for collaboration, emphasizing the importance of forging public-private ecosystems and partnerships to drive innovation.
- Evaluation and monitoring frameworks to date are too focused on the environmental dimension, neglecting all other aspects, starting with socio-economic and governance aspects.
- The fulfillment of the social dimension remains complex but is the real opportunity.