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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. 150+ members across three subcommittees: Education, Transparency, and Advocacy seek to:

Source and provide robust educational resources that frame the issue for the Commercial Real Estate sector;
Promote transparency by encouraging relevant reporting standards and best practices;
Advocate for productive partnerships with government and other organizations; and
Foster financing solutions that enhance both the public good and the liquidity of the CRE finance market

In order to ensure that our SI prioritizes the sustainability topics most important to our membership, we have conducted three member-wide surveys.

Member-Wide Survey | June, 2024
Member-Wide Survey | May, 2022
Member-Wide Survey | June, 2021

Please contact Sairah Burki, CREFC Managing Director, Regulatory Affairs & Sustainability, or Kevin Fagan, Senior Director, Head of CRE Economic Analysis, with any questions.

The Sustainability Initiative’s Three Major Subcommittees

The SI has over 150 members and is composed of three subcommittees, all of which have been very active over the past year:

Education

The Education Subcommittee has hosted presentations on climate science, property resiliency, and financial topics such as existing disclosure frameworks, insurance issues, and green financing in the past year.

Subcommittee Goals: Create a knowledge resource platform that incorporates a wide range of relevant climate topics, including science, physical risks and mitigants, financing, credit and economics, insurance, legal considerations, and regulations. The platform will also serve as a tool to connect market participants, and provide education on broader ESG concerns.
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Transparency

The Transparency Subcommittee has worked towards identifying, for eventual inclusion into the Investor Reporting Package™, climate data that is both attainable and relevant for market participants and developing related Best Practices on disclosure.

Subcommittee Goals: Evaluate and identify key metrics and reporting standards for assessment of ESG risks and regulatory compliance. Make recommendations on reporting and disclosures that best serve investors and overall market efficiency, utilizing existing recognized standards where appropriate. Heightened transparency also will facilitate the development and enhancement of financial solutions that align CRE finance with efforts to mitigate climate risks and encourage environmental, social, and corporate responsibility.
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Advocacy

The Advocacy Subcommittee has monitored 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. It also shares information and coordinates advocacy with other trade organizations and their Sustainability efforts.

Subcommittee Goals: Identify major policy and regulatory goals, and advocate for mutually beneficial solutions where the CREFC mission is in alignment with those of policymakers. Explore industry collaboration and partnerships to leverage past work and achieve greater impact through combined efforts.
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