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Environmental Sustainability Principles for the Real Estate Industry


COMMENTARY 

Your final reading is a report produced by the World Economic Forum, an international membership club for many of the world’s largest companies. It organizes high-level summits and seeks to facilitate learning and agenda-setting within and across industries, recognizing the increasingly interconnected and complex nature of the world economy.

This recent report is partially a response to the landmark global agreements negotiated in 2015; both the Sustainable Development Goals agreed in New York in September and the global climate agreement reached in Paris in December.

In this context, the WEF Agenda Council on the Future of Real Estate acknowledged that the real estate industry is lacking a set of clear principles regarding environmental sustainability. This report is their attempt to suggest what these might look like.

In reading this report, consider the different factors that influence a firm’s decisions regarding efforts to take sustainability seriously. As Campbell argues in the article you have read this week, sustainability is not only a function of governments’ laws and regulations.

The intuition behind the WEF’s agenda-setting efforts is that peer pressure among firms might influence corporate behavior and lead to the development of new industry norms.

This report highlights the growing importance of comprehensive sustainability in real estate (i.e. more than just greenwashing). Socially responsible real estate must incorporate sustainability into its development and ongoing operations processes. In addition, this report also emphasizes the increasing number of firms recognizing the value of proactive corporate socially responsibility for not only “doing the right thing,” but also advancing corporate financial interests. Financial success and social responsibility are not mutually exclusive; together they are mutually beneficial.

Reflection questions:

1.   According to the report, its “goal is to embody a wider sense of stewardship for the natural environment, consistent with the ethical and professional conduct of business” (p.3). What are the authors assuming about the responsibilities of business? Do you agree? 

2.   Do you think high-level aspirational principles such as these will have a visible effect on industry behavior? 

3.   In light of our discussions on environmental and social impact assessment, what aspects of socially responsible real estate investment are missing from these principles? Do you think application of these principles would have changed the way the Forest City case developed, for instance? 

READING

Environmental Sustainability Principles for the Real Estate Industry


下一节:Module 5

返回《Socially-Responsible Real Estate Development: Learning to Use Impact Assessment Tools Effectively》慕课在线视频列表

Socially-Responsible Real Estate Development: Learning to Use Impact Assessment Tools Effectively课程列表：

Introduction to the MIT STLx Series

-Welcome

--Welcome

Get Started

-Course Welcome

--Welcome

--Course Overview

-Entrance Survey

--Entrance Survey

-Entrance Survey

-Learning Objectives

--Learning Objectives

-Course Schedule

--Course Schedule

-Meet Your Course Instructors

--Professor

--Teaching Assistant

-Grading and Completion Criteria

--Grading and Completion

--html

Module 1: Introduction

-Introduction

--Introduction

--The Stakeholders

--DEVELOPER

--ENVIRONMENTALIST

--REGULATOR

--COMMUNITY REPRESENTATIVE

--TECHNICAL EXPERT

--BUSINESS REPRESENTATIVE

--FACILITATOR

--Community Discussion

--Module 1 Animation

-Lectures

--html

--Lecture 1

--Lecture 2

--Key Takeaways

-Readings

--Social Impact Assessment: The State of the Art

--Social Impact Assessment and Public Participation in China

-Developer Interview

--Module 1

--html

-Questions

-Assignment

--html

--Grading Overview

--html

--Submit and Review Peers

--Peer Assessment

-Debrief

--Assignment Debrief

--Discussion 1 - part 1

--Discussion 1 - part 2

--Discuss

Module 2: Environmental Impact Assessment

-Introduction

--Introduction

--Community Discussion

--Module 2 Animation

-Lectures

--EIA Primer

--Lecture 1

--Lecture 2

--Lecture 3

--Key Takeaways

-Readings

--Methods of Environmental Impact Assessment

--Public Participation and Environmental Dispute Resolution

--Environmental Impact Assessment for Developing Countries in Asia

--Importance of Nonobjective Judgements

--Example Environmental Impact Statement

-Developer Interview

--html

--Module 2

--html

-Questions

-Assignment

--html

--Submit and Review Peers

--Peer Assessment

-Debrief

--Assignment Debrief

--Discussion 2 - part 1

--Discussion 2 - part2

--Discuss

Module 3: Social Impact Assessment

-Introduction

--Introduction

--Text

--Module 3 Animation

-Lectures

--SIA Primer

--html

--Lecture 1

--Lecture 2

--Key Takeaways

-Readings

--Introduction to Social Impact Assessment

--Effectiveness in Social Impact Assessment

--Example Social Impact Statement

-Developer Interview

--Video

--Text

-Questions

-Assignment

--INSTRUCTIONS

--Submit and Review Peers

-Debrief

--Assignment Debrief

--Discussion 3 - part1

--Discussion 3 - part 2

--Discuss

Module 4: Case Study: Forest City

-Introduction

--Text

--Module 4 Animation

-Forest City Case Study

--Part 1

--Part 2

--Part 3

--Additional Forest City Information

-Lectures

--Lecture 1

--Lecture 2

--Key Takeaways

-Readings

--Dealing with An Angry Public

--Facility Siting and Public Opposition

-Developer Interview

--Practitioner Perspective

--Module 4

--Text

-Questions

-Assignment

--html

--INSTRUCTIONS

--SCENARIO

-Debrief

--Assignment Debrief

--Discussion 4

--Discuss

Module 5: Applying SIA and EIA in a Socially Responsible Manner

-Introduction

--Introduction

--Community Discussion

--Module 5 Animation

-Lectures

--Lecture 1

--Lecture 2

--Lecture 3

--Key Takeaways

-Readings

--Create More Value

--Why Would Corporations Behave in Socially Responsible Ways?

--Social Impact Assessments of Large Dams Throughout the World

--Environmental Sustainability Principles for the Real Estate Industry

-Developer Interview

--Module 5

--Practitioner Perspective

-Questions

-Assignment

--html

--INSTRUCTIONS

--SCENARIO

-Debrief

--Assignment Debrief

--Discussion 5

--Discussion

Course Wrap Up

-Further Resources

--Further Resources

-Thank You

--Thank you for taking the course

-Acknowledgements

--Acknowledgements

Environmental Sustainability Principles for the Real Estate Industry笔记与讨论

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