SGV Financial Accounting Advisory Services (FAAS) and Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte (BNV) was a panelist in the session on “Environmental, social, and governance (ESG) as a Value Driver for Real Estate” at the Net Zero Building & Net Zero City Summit Philippines 2023 held on 10 January 2023 at the Dusit Thani Hotel Manila. The session dissected the impact of social good on real estate projects, including why ESG reporting is vital for investors and what impact it has on the community.
Benjamin talks about ESG
Benjamin with the other panelists
Benjamin emphasized the importance and advantages of ESG in doing business, especially in the real estate industry. As investors pay more attention to ESG performance, companies are now integrating sustainability in their business models and plans to access more financing for their business operations and future expansion.
He said that companies are realizing that solely aiming for profit is no longer enough to sustain businesses and that creating positive impacts on the environment and society are now gaining momentum as more businesses around the world work toward more sustainable operations.
Given the current trend in the industry on sustainability and “greenwashing,” Benjamin encouraged everyone to act now, aside from just pledging. He also emphasized that when investing in ESG strategies, even though the returns may only manifest in 5-10 years, priority should be given to creating long-term value.