How Can Real Estate Groups Define the S in ESG?

Camber Creek contributed to a working group within the Pension Real Estate Association that produced What is the S in ESG? A Guide for Real Estate Investors. Over the past several years, there has been widespread industry adoption of technology, practices, and metrics around the E (Environment) in ESG, while the S (Social Impact) has been less well understood. The guide’s editors hope to inspire curiosity, awareness, and thoughtful action in this area. The resource is part Why To with a lot of How To and is built on the following premises.

1.      Real estate is always socially situated. The built environment and the greater society in which it operates influence one another.

2.      Because of this, awareness of social impact is not only the domain of those who self-identify as social impact investors. Every real estate asset affects and is affected by society.

3.      You can define, measure, track, and improve real estate’s impact.

4.      Social impact takes many forms. The authors highlight three broad areas: community impact, health and wellness, and human capital.

5.      While there are some methods in real estate for defining and measuring the S in ESG, there is, to the authors’ knowledge, no one-size-fits-all solution. The authors try to equip organizations to identify and act on what is most material and urgent for them.

The guide lists a number of technology solutions that can support social impact, including Camber Creek portfolio companies Bilt Rewards, Flex, and PetScreening.

Photo by Marcus Lenk on Unsplash