Over the past few years, the attention on environmental, social and governance (ESG) has increased. ESG factors are being used by investors as an asset risk management tool, demanding that they become more sustainable and comply to environmentally responsible principles, as Founder and President of Partner Energy, a division of Partner Engineering and Science, Tony Liou says.
According to Globest, attention surrounding that topic is here to stay. With stricter energy codes on the horizon in cities nationwide, real estate leaders are more focused on sustainability and energy efficiency than ever before. In the past, apartment owners have leaned into anything and everything to help with energy efficiency—from green rooftops to energy reporting software—in order to meet aggressive ESG targets, but architects also are playing more of a role in ensuring that both new and renovated buildings will meet both upcoming mandates and their own green design goals.
According to Nate Thomas, AIA, CPHC, director of sustainability at The Architectural Team, a leading national planner and designer of multifamily and mixed-use communities, “Multifamily developers and owners recognize that investing in sustainability and decarbonization today is an essential step towards reducing long-term operating costs, helping the environment, and improving quality of life for residents.”