Let’s give social impact the attention it deserves in commercial schemes

By Alex Groot 2024-03-06T07:00:00

Engaging in socially responsible practices is morally commendable and strategically advantageous, says Alex Groot, project director at M3 Consulting

In recent years, ESG has become a non-negotiable in real estate development, with a particular emphasis on environmental sustainability (the “E”), involving efforts to decarbonise the built environment, create urban greening and enhance biodiversity.

There is also a well-established path through governance (the “G”) via BREEAM, NABERS, WELL, WiredScore and other accreditations. However, the social (“S”) component remains less quantifiable and more challenging to define. With this challenge comes opportunity, and I see this as an important industry theme for 2024.

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