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 has hosted multiple internal speakers and presentations on climate science, engineering reports on climate resiliency, and financial topics such as existing disclosure frameworks and green renovation financing; see here for previous and upcoming presentations or webinars.
- Transparency Subcommittee is identifying, for eventual inclusion into the Investor Reporting Package™, climate data that is both attainable and relevant for market participants; and
- Advocacy Subcommittee is monitoring relevant legislative and regulatory developments, including developing responses to the Securities and Exchange Commission’s 2021 Request for Input on climate disclosures and its 2022 Proposed Climate-Related Disclosures. We also share information and coordinate advocacy with other trade organizations and their ESG 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.