The built environment is responsible for approximately 40% of energy use and around 40% of the UK’s total carbon footprint. Decarbonising buildings is a critical element in creating the net zero carbon economy to which the UK has committed to achieving by 2050. Globally, 20% of global greenhouse gas emissions come from buildings, which use approximately 40% of the world’s raw materials.
Sustainable real estate also provides opportunities for tenants and owners alike – often offering more attractive rental/sales prospects through more efficient and affordable operating costs, and greener reputations. And whether for intrinsic reasons, or in anticipation of growing legislation, demand for sustainable real estate stock (both new and retrofitted) is on the rise.
In October 2022, Bridges invested in Evora Global, a UK consultancy that helps clients around the world to improve the sustainability and reduce the climate risk of their real estate portfolios. The consultancy provides services to many of the biggest names in global real estate investment, across 10 offices and 38 countries. Its proprietary software, SIERA, helps its clients to leverage data and make better investment decisions around sustainability.
Bridges’ market-leading credentials in the area of sustainability and impact, including its status as a ‘Best for the World’ B Corp, along with its track record as a sustainable real estate investor, was a clear differentiator for the team.
Evora is committed to ensuring buildings can be sustainable – as well as productive, profitable, and resilient to change. Since inception, it has mobilised and managed sustainability data for approximately 8,000 assets, and its services range from ESG strategy to data intelligence, smart buildings to its newly-introduced social wellbeing services.
Evora’s recent expansion into the US demonstrates both real demand for its services, and the continued opportunity to make huge impact in a sector that needs urgent change.