Environmental, Social and Governance


Melville is considered a leading commentator on ESG-related regulatory issues related to the UK and European real estate sector. He is focused on issues including:


  • assisting real estate owners looking to enhance the green premium in buildings and minimise the stranded asset risk, and improving disclosure against real estate metrics will feed into market values.
  • leading and actively contributing to a dynamic, consensus-focused engagement between industry and regulators. This dovetails with the hope that regulators will endorse industry initiatives.


He advocates that there is a win-win outcome for the real estate sector collaborating with regulators in prioritising and solving the metrics and labelling challenges for real estate.


Melville – conferring with industry network contacts as well as Financial Conduct Authority (FCA) officials – spearheaded this defining 12 January 2024 submission for the UK and European real estate sector: https://www.aref.org.uk/resource/esg-metrics-for-real-estate.html


The submission represents a response to a request from the FCA for input on the development of real estate-specific metrics and the FCA's Policy Statement issued 28 November 2023 with its Sustainable Disclosure Requirements:

https://www.fca.org.uk/publication/policy/ps23-16.pdf

 

He asserts:


"The growing popularity of sustainable real estate funds means that UK fund managers must make sure that they are thoroughly familiar with SDR.


The FCA states that its SDR “aim … is simple – financial products that are marketed as sustainable should do as they claim and have the evidence to back it up”. The SDR package “has consumers at its heart”, with elements of the regime also applying to professional or institutional investors.


What may not be so obvious is the fact that SDR must be embedded throughout the fund manager’s organisation. SDR is for all staff, not only for ESG specialists".

 

https://www.esginvestor.net/uk-real-estate-fund-managers-embrace-sdr/



Articles


19/6/24 IPE Real Assets: News: Real estate industry welcomes proposal to introduce ‘transition’ category to SFDR

https://realassets.ipe.com/news/real-estate-industry-welcomes-proposal-to-introduce-transition-category-to-sfdr/10074068.article

10/4/24 IPE Real Assets: News: Real estate industry welcomes UK Transition Plan Taskforce sector guidance

https://realassets.ipe.com/news/real-estate-industry-welcomes-uk-transition-plan-taskforce-sector-guidance/10072655.article


09/04/24 INREV: ESG metrics for real estate endorsed in TPT guidance

https://www.inrev.org/news/inrev-news/esg-metrics-real-estate-endorsed-tpt-guidance

12/1/24 IPE Real Assets: News: Real estate association update proposals for ESG metrics
https://realassets.ipe.com/news/real-estate-associations-update-proposals-for-esg-metrics/10070976.article

5/1/24 ESG Investor: UK Real Estate Fund Managers: Embrace SDR!

https://www.esginvestor.net/uk-real-estate-fund-managers-embrace-sdr/

29/11/23 Property Week: FCA statement outlines rules for sustainable real estate investment products

https://www.propertyweek.com/finance/fca-statement-outlines-rules-for-sustainable-real-estate-investment-products/5127801.article

28/11/23 IPE Real Assets: Real estate industry welcomes UK’s new SDR sustainability product labels

https://realassets.ipe.com/news/real-estate-industry-welcomes-uks-new-sdr-sustainability-product-labels/10070329.article

28/7/23 IPE Real Assets:Guest view:Property fund managers need comprehensive ESG disclosures

https://realassets.ipe.com/news/guest-view-property-fund-managers-need-comprehensive-esg-disclosures/10068029.article


7/6/23 - Working Group: AREF/INREV/IPF: SFDR Real Estate Solutions Paper: Proposals for solving

challenges arising from SFDR for real estate investments

https://www.inrev.org/system/files/2023-06/SFDR-Real-Estate%20Solutions-Paper-June-2023.pdf


7/6/23 - IPE Real Assets News: Real estate industry proposes solutions for problematic SFDR regulations

https://realassets.ipe.com/news/real-estate-industry-proposes-solutions-for-problematic-sfdr-regulations/10067009.article


3/2/23 : IPE Real Assets Guest view: Should UK real estate managers adopt FCA’s SDR labels?

https://realassets.ipe.com/real-estate/guest-view-should-uk-real-estate-managers-adopt-fcas-sdr-labels/10064902.articl


27/12/22: AREF: ESG Metrics for Real Estate

https://www.aref.org.uk/resource/esg-metrics-for-real-estate.html


29/7/22: Net Zero Investor: Decarbonising the real estate sector

https://www.netzeroinvestor.net/news-and-views/decarbonising-the-real-estate-sector

 

13/4/22: IPE Real Assets: UK urged to adopt real estate metrics and product labels for SDR regime

https://realassets.ipe.com/news/uk-urged-to-adopt-real-estate-metrics-and-product-labels-for-sdr-regime/10059167.article

 

7/1/22: IPE Real Assets Regulation: Shaping the TCFD metrics for commercial real estate

https://www.tcfdhub.org/resource/shaping-the-tcfd-metrics-for-commercial-real-estate/

 

 

10/11/21: IPE Real Assets Opinion: Ensure the right ESG metrics are applied to commercial property

https://www.tcfdhub.org/resource/ensure-the-right-esg-metrics-are-applied-to-commercial-property/

 

23/7/21: IPE Real Asset Analysis: Disclosure, disclosure, disclosure: Get ahead of regulation

https://realassets.ipe.com/analysis/disclosure-disclosure-disclosure-get-ahead-of-regulation/10054168.article

 

Jan/Feb 21: IPE Real Assets expert view: Real estate managers must prepare for SFDR. The Top expert view IPE Real Assets magazine article of 2021! 

https://realassets.ipe.com/sustainability/expert-view-real-estate-managers-must-prepare-for-sfdr/10050476.article

 


Seminars

19/1/24 - AREF/BPF/INREV/IPF - How SDR applies to real estate

https://www.aref.org.uk/events/ems-event-calendar/how-sdr-applies-to-real-estate.html


26/5/23 - Apex Group - International alignment of ESG metrics in Real Estate

https://www.apexgroup.com/insights/international-alignment-of-esg-metrics-in-real-estate/

19/1/23 - Carbon Intelligence Event - SDR: An ESG regulatory game changer?

https://register.gotowebinar.com/recording/1409122436104473


25/11/22 - AREF/BPF/CREFCE/INREV/IPF: How will SDR affect Real Estate?

https://www.aref.org.uk/resource/post-event-materials-sdr-re.html


25/5/22 - Carbon Intelligence Webinar: ESG in real estate: Are we about to see a metrics game changer

https://www.aref.org.uk/events/ems-event-calendar/carbon-intelligence-webinar-esg-in-real-estate-are-we-about-to-see-a-metrics-game-changer.html


23/11/21: AREF TCFD webinar: enhancing climate-related disclosures

https://www.aref.org.uk/resource/post-event-materials-tcfd-webinar-nov.html


1/9/21: AREF, INREV & IPF:FCA CP21/17 Enhancing climate-related disclosures

TCFD Knowledge Hub -webinar recording,slides


9/6/21: Net Zero Pathways – AREF, PropertyMatch & Real Estate Investors’ Forum

https://www.aref.org.uk/resource/post-event-materials-investor-webinar-net-zero-pathways-9th-june-2021.html


7/1/21:REIF, AREF Investors & PropertyMatch: 2021 Market Prospects and Sustainable Financial disclosure

https://www.aref.org.uk/events/ems-event-calendar/investor-event-2021-market-prospects-and-sustainabile-financial-disclosure.html