Unite ESG Community launched to encourage green buildings, responsible investing

A major highpoint of the just concluded Real Estate Unite (REU) Summit in Lagos was the launching of a network known as ‘Unite Environmental Sustainability Goal (ESG) Community for the promotion of green building and responsible investment.

The community, according to its promoters, will also encourage Individual ESG assessment, Sustainability Education, EDGE and other certifications, sustainability policy statements, ESG and climate strategy, green finance, ethical construction practices and use of empirical data.

“The community is a network of climate tech, sustainability and ESG leaders from the real estate sector in Africa with the common goal to achieve a sustainable and equitable future,’’ Ruth Obih, the managing director of 3INVEST and founder of the Unite Community, explained at the launch.

Obih added that the Unite ESG recognition is a tool to encourage, empower and spotlight real estate professionals, organizations and projects embracing sustainability by using ESG metrics to measure and assess their performance and their commitment to the United Nations’ SDGs.

A good number of institutions are already leading in the journey towards a sustainable culture and the 3Interest boss listed them as IFC, ACTIS, Sintali, Africa Capital Alliance, Misa Group, Elalan Construction Company, Karmod Nigeria and Family Homes Funds, etc. All these, she said, were commended for their commitment to a sustainable future.

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REU, the main event, now in its 10th edition, is an annual gathering of real estate developers, service providers, professionals, and sundry stakeholders from various parts of the world. It is hosted by 3invest.

This year’s edition had in attendance, people from real estate communities in Africa, Europe and the United Arab Emirate (UAE). It welcomed 60 speakers, 50 exhibitors, 650 delegates and over 1000 combined footfalls.

Unlike the previous editions, the focus of this year’s edition was Climate technology, sustainability and Environmental Sustainability Goals (ESG) with the theme, ‘Towards A Sustainable Culture.

It featured a Sustainability conference, Exhibition and ESG recognitions attended by industry stakeholders and individuals who are passionate about improving the efficiency and environmental impact through sustainable practices in the real estate sector.

Obas John Ebohon, Professor of Sustainability and Environmental Law, London South Bank University, emphasized that how and where we build can have a great impact on the African environment and also on health.

“A 36 percent reduction in CO2 emission by 2030 is expected of the real estate sector to remain under the 2oC target, benchmarking with the Paris agreement target. The ultimate goal is carbon neutrality by 2050,” Prof Ebohon said.

Industry stakeholders such as IFC EDGE, Stanbic IBTC, Broll, Elalan, Mixta Africa, Purple, Landwey, Clifton Homes, Karmod, Rendeavour, Dutum, The Address Homes, Horizon Estates, Haven Homes, Master Builders, ACTIS, Family Homes Fund, Home Works and Afriland Properties PLC, Damac Dubai, UPDC, CPL Ghana, Strongmas and 3INVEST represented half of Unite 2022 Summit audience.

Dennis Papa Odenyi Quansah, Green Building Lead, IFC Nigeria, Ghana and Kenya representative, noted that the estimated $768 billion investment potential in green buildings between 2018 and 2030 in emerging markets is due to see sharp increase in building construction expected over the next few decades.

Quansah in a presentation on ‘Introduction to Sustainability in the Built Environment, gave insights into Excellence in Design for Greater Efficiencies (EDGE) and how it aligns with all the major international green finance standards. “Green buildings cost 3 percent more upfront with a 3-year payback period,’’ he said.