Increasing regulation and corporate reporting In recent years there’s been a significant shift towards benchmarking and reporting ESG performance. While corporate reporting obligations have ramped up (like the Task Force on Climate-related Financial Disclosures (TCFD) recommendations), many property portfolio owners are looking for accreditation via industry benchmarks (like the Global Real Estate Sustainability Benchmark (GRESB)). The GRESB used in 2020 by 1200 companies worldwide represented $4.8 trillion worth of assets under management. Green finance The UK Government recently announced its ambition to make the City of London the global centre for green finance. Against a backdrop of increasing expectations for green lending, there’ll be new opportunities for investors to gain exposure and, in some cases, access a pricing advantage for capital via margins. Environment Act 2021 While the delayed bill won’t come into force until 2023, it’s already having an impact. Businesses should start preparing now to adapt to some of the more far-reaching proposals. 37 ESG