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EPRA Monthly Brief
November 2021
This month the world turned its attention to Glasgow and to COP26. EPRA fully supports the international drive towards addressing climate change as expressed during COP26. With buildings accounting for 40% of energy consumption and 36% of CO2 emissions in the EU, any hope of delivering the Paris Agreement goals is dependent on the real estate sector's actions to reduce this impact.

Our members have already put in place strategies to decarbonise their assets and to transition towards climate-neutrality. From sustainability certifications, through energy efficiency measures and renewable energy installations in new constructions or major refurbishments, our members strive to tackle climate change and the sector decarbonisation.

ESG will be undoubtably one of the topics discussed at our flagship Insight events at the beginning of the year. Registrations are now open, and we remain optimistic that the 2022 edition will be held in person in Paris, Brussels (to be confirmed), London while our newest market addition to our event series, Germany Insight, will remain virtual.
 
On this note, I wish you all a happy holiday season and I look forward to meeting you in-person again in 2022.

Last but not least, I would like to welcome our newest members: Aedas Homes, Premia Properties and Stenhus Fastigheter.

 
Dominique Moerenhout, EPRA CEO
EPRA news

Building blocks for a prosperous future

To unlock capital, face global challenges such as climate change, and build the cities of tomorrow, the European Union needs to encourage more stable and cross-border investments aligned with its long-term objectives. EPRA believes that the listed real estate sector is part of the solution to empower the EU to deliver on its ambitions internally and elevate its leadership externally and proposes a set of recommendations for policymakers in order to address these challenges. Read more here.

Impact of EU ETS & ETD on real estate values

The EU is attempting to be a leader at the global level in its approach to environmental regulations. In 2005 it established the world’s first major carbon market, the EU Emissions Trading System (ETS), which has evolved and grown since, with other ETS systems arising in other geographies. In 2021, the European Commission has made a swathe of new proposals under the European Green Deal, the Commission’s flagship strategy to meet its Paris Agreement commitments. This includes an extension of the ETS to include energy supplied to heat buildings, as well as the revision of its Energy Taxation Directive (ETD). EPRA and JLL have investigated the scope and potential impact of the new proposals for the EU ETS and ETD, as they pertain to real estate. Read the white paper here.

Emerging markets report

Although the pandemic is not over yet, global data from H1 2021 reveal a slight recovery on the emerging markets. Something noticeable on the listed real estate too, as the FTSE EPRA Nareit Emerging Markets Index ended up the first semester of the year with a positive performance of 2.47% total return (vs. -22% total return achieved in H1 2020). This was just before the well-known debt issue of the giant developer Evergrande came into light. In this report EPRA briefly goes through the composition and performance of the emerging index before focusing on China and the Evergrande case. Access the full report here.
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If you would like more information about any of the upcoming events, contact us at events@epra.com
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