December 2015, the Paris Agreement is a landmark international accord that was adopted by nearly every nation to address climate change and its negative impacts. The agreement aims to substantially reduce global greenhouse gas emissions in an effort to limit the global temperature increase in this century to 2 degrees Celsius above preindustrial levels, while pursuing the means to limit the increase to 1.5 degrees.
2015 all United Nations Member States adopted the 2030 Agedna for Sustainable Development to promote peace and prosperity for people and the planet. At its heart are the 17 Sustainable Development Goals (SDGs), which are an urgent call for action by all countries – developed and developing – in a global partnership (poverty eradication, improve health and education, reduce inequality and spur economic growth whilst also tackling climate change).
The figure below gives an overview of the relationship between existing standards and frameworks, including their relationship to the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).
Housing-companies´ task: Filter the relevant sub-set of GRI/CDP topics
* including assumptions and cash flow projections
** Reflects the scope of CDP survey, insofar as it functions de facto as disclosure standard for climate, water and forest, as well as the scope of CDP´s data platform
The EU-taxonomy is a classification system, establishing a list of environmentally sustainable economic activities. The EU-taxonomy wants to enable and scale up sustainable investments and implement the European Green Deal. By providing appropriate definitions to companies, investors and policymakers on which economic activities can be considered environmentally sustainable, it aims to create security for investors, protect private investors from greenwashing, help companies to plan the transition and mitigate market fragmentation.
It increases requirements for sustainability reporting: Companies that are obliged to report non-financially according to NFRD – “Climate Change Mitigation” and “Climate Change Adaptation” from 2021 onwards.
The Good Economy published the final report of the ESG Social Housing Working Group, a unique collaboration of 18 banks and investors, housing associations, service providers and impact investing organisations. The working group was set up in 2019 in response to concerns ESG investments were being inhibited by the absence of a common reporting standard.
RITTERWALD is an official endorser of the reporting standard and provided its Environmental and Social Criteria Catalogues.
ESG-related articles by RITTERWALD
A comment by Austen Reid and Ad Hereijgers. (in: Social Housing).
RITTERWALD analyzed the extent to which German housing companies make use of green bonds – and what advantages they generate. (Article in German).
RITTERWALD took a closer look at the sustainability reports published by the top 50 companies in the German housing sector.
Across Europe, social housing is being delivered and operated in a highly regulatory environment. Although smaller in tenure than homeownership, social housing is regarded as a professional risk- adjusted asset class that attracts private ESG investors.
RITTERWALD has undergone a study to not only provide insights on the French, Dutch and German markets respectively, but also to understand how in these regulated markets, the role of institutional investors is being affected by the public debate.