About CREFC’s Sustainability Initiative
CREFC launched its Sustainability Initiative (SI) in early 2021, focused largely on the intersection between climate risk and CRE finance. The SI has over 150 members and is composed of three subcommittees, all of which have been very active over the past year:
- Education Subcommittee: hosts presentations on climate science, property resiliency, and financial topics such as existing disclosure frameworks, insurance issues, and green financing.
- Transparency Subcommittee: identifying, for eventual inclusion into the Investor Reporting Package™, climate data that is both attainable and relevant for market participants. Also developing related Best Practices on disclosure.
- Advocacy Subcommittee: monitoring relevant legislative and regulatory developments, including the Securities and Exchange Commission’s climate disclosure framework, state-level disclosure requirements, and developments in the E.U. We also share information and coordinate advocacy with other trade organizations and their Sustainability efforts.
In order to ensure that our SI prioritizes the sustainability topics most important to our membership, we have conducted two member-wide surveys. Please see
here for results from our 2021 survey. Results of our 2022 survey can be found
here.
As we continue to explore the interplay between climate change and CRE, we are also expanding our focus the “S” (Social) portion of ESG, particularly affordable housing.
Please feel free to contact
Sairah Burki, CREFC Managing Director, Regulatory Affairs & Sustainability, or
Kevin Fagan, Senior Director, Head of CRE Economic Analysis, with any questions.