In 2022, the commercial real estate industry has a unique opportunity to influence how the TCFD reporting guidelines are applied to property assets and funds.
UK’s Financial Conduct Authority continues to take a leading role on ESG issues. Large UK pension funds and fund managers have to comply with the TCFD guidelines, and the FCA looks to expand and broaden the guidelines through its Sustainability Disclosure Requirements.
The industry must take forward this initiative and address the quantitative and qualitative components that are unique to the sector. The article suggests solutions to be developed for appropriate commercial real estate metrics.