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:



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".




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


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


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


12/1/24 IPE Real Assets: News: Real estate association update proposals for ESG metrics

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


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


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


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


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

challenges arising from SFDR for real estate investments


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


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


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


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



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



7/1/22: IPE Real Assets Regulation: 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



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



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! 




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


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


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


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


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


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


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


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