EPRA Monthly Brief
October 2018
At EPRA we always welcome every opportunity to promote the benefits of the listed real estate sector together with our members, and October was a particularly productive month in that regard. I am pleased to say that over the past month we have been meeting with investors and industry stakeholders in London, Munich, Paris, Madrid, Budapest, Taipei, Seoul and Tokyo. In Germany we attended EXPO Real together with other key players in the industry while in Madrid and Paris we met with several members. In Asia, together with the Investor Outreach team, I met with over 25 investors in preparation for the 11th Asia week in early December.  The meetings were very successful and I now look forward to the upcoming reciprocal outreach week we have planned together with Nareit in November.
Our annual requests for research proposals are still open, and I encourage you to apply before November 14. More information on possible topics and application procedure for the 2019 edition are outlined in greater detail further below. If you are interested in finding out more about EPRA’s recent research projects and activities, you may find them compiled in our Research Digest, which is also available in video format.

On a final note, don’t forget to mark your calendars for our flagship Insight events  at the beginning of next year, which has proved to be an industry highlight. On 7 January we will be in London and on 9 January I am pleased to announce that we will be in Brussels for the first time. More information will be communicated to you shortly.

Dominique Moerenhout, EPRA CEO

EPRA news
European stakeholder meeting on non-financial disclosure
On October 18, EPRA participated in the open stakeholder meeting on non-financial disclosures, organised by the European Commission (EC). The event included a debate on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) being incorporated into the Commission’s guidelines on Non-Financial Reporting (NFR) Directive and related work of the Technical Expert Group (TEG) on Sustainable Finance.

As one of the stakeholders, EPRA discussed with EC representatives and members of the TEG issues of relevance for listed real estate companies. Specifically, we raised the issue of the scope of the recent EU Taxonomy proposal, to which Tom Dodd from DG FISMA responded that the intention of the Commission is to create a classification system of sustainable economic activities. This means that, rather than it being a question of whether a company is sustainable or not, it is a question of whether the company’s economic activity corresponds to the taxonomy classifications.

EPRA recommended both the EC and TEG to consider sector specific best practice recommendation for reporting on non-financial information, as we strongly believe that this would keep the EC’s guidelines more flexible. If the EC were to focus on those sectors that might have the greatest climate impact, such as real estate, it could help achieve the goal of the ongoing review of the Commissions Guidelines on the NFR Directive that aims to tackle climate issues. As the next step,  EPRA wishes to further communicate with the EC and TEG to explain the specific benefits of our sustainability best practices recommendations (sBPR), which are widely used by the European listed  real estate sector.

More information on the sBPR are available here and EPRA’s full position paper on the EU Taxonomy is accessible here.

ESG Workshop - Sustainability and the listed real estate sector
For the third year in a row, EPRA will be organising our sustainability workshop to discuss progress and challenges for the listed real estate sector. The full day event will take place in London on November 23 and we will be joined by key market players and inspirational speakers that will be exploring themes ranging from strategies to keep global warming under 1.5°C, new technologies for improving energy management and well-being in the listed real estate sector and how to build inclusive communities through diversity and inclusion, and how to incorporate sustainability ratings in corporate strategies. More information on the agenda is available here and registration is accessible here.
Take part in the well-being investment survey about the increasing role of wellbeing in real estate investment decisions. This survey is undertaken by the Urban Land Institute UK Sustainability Council and is available here. Submit your answers before mid-November.
Request for Research Proposal 2019
With deadline for submissions only two weeks away, we welcome you to submit your Proposals for Research by 14 November 23:59 CET. Both academic researchers and market practitioners are encouraged to apply with a topic of relevance for the European listed real estate sector. Submissions may include, but are not limited to, the following priority themes:
  • Market structure and how the traditional property sector measures against emergent sectors;
  • Industry focus, including an international comparison of listed and unlisted real estate or an assessment of mergers and acquisitions;
  • Active and passive fund management;
  • Innovation and the impact of market disruptors.
More information on the topics and application procedure is available here.
EPRA Corporate Access Event
We are pleased to announce that we will be organising for the first time a large-scale corporate access event in London on December 12, where participants will have the chance to take part in up to 7 one-on-one and/or group meetings with over 20 European listed real estate companies. The day will kick off with a networking breakfast and an interview with James Seppala of Blackstone, both sessions brought to you by Green Street Advisors. Throughout the day you will have the opportunity of meeting the companies of your choice, with a requirement of selecting a minimum of 5 meetings. For more information on schedule and companies, please click here. Slots are still available on a first come first serve basis, so be sure to secure your spot by registering here.
Additional reading
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