Environmental, social, and governance (or ESG) criteria are the standards by which conscious investors can review an investment or company. Companies can also create ESG strategies that they share with their investors. These criteria can be applied to a variety of investments, but one major area of concern is within the real estate industry.
In real estate, we use ESG as a guideline to evaluate how a real estate company or portfolio manages opportunities and risks, especially in terms of the ever-changing market. For example, how does the portfolio address changes in social systems? What about economic and environmental systems? All of these areas affect the way in which buildings operate.
ESG issues can be defined differently from industry to industry. However, there are some fundamental ways to describe each category:
● Environmental: A company’s environmental stewardship and environmental impact.
● Social: The way a company manages relationships with its stakeholders.
● Governance: The practices, policies, philosophy, shareholder rights, and internal controls that a company has and its leadership abides by.
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Resilience and Sustainability are very crucial in architecture. Resilience is the way to strengthen infrastructure sustainability to prevent or recover from damage. It refers to the recovering capability of any infrastructure when stressed by the load and accidental or natural attack.
Sustainability refers to the design that aims to reduce adverse environmental impacts, the use of human resources, and energy consumption. It is also called ecological architecture for creating healthy living environments.
Climate Resilience and Sustainability have become more critical after the repetitive natural calamities to lighten the impact of climate change.
No, Sustainability is not the same as Resilience. But of course, Resilience is required for Sustainability.
Resilience is the capability to recover from any load, damage, or hardness. And Sustainability is the ability to avoid any negative natural impacts and energy consumption, and Resilience is the influencing factor that leads to Sustainability.
If Infrastructure is Resilience, then it can have better Sustainability that people need to maintain their well-being.
Sustainable Infrastructure Development means planning, designing, and constructing an infrastructure to ensure social, environmental, and economic Sustainability over the lifecycle. It seeks to reduce the ecological impact of infrastructures through efficiency and moderation of energy and material. It uses a considered approach to building materials, construction methods, energy, and environmental conversion.
Resilience in Environment means the capability to deal with change and recover from damage from natural calamities. Resilience is essential in the Environment because all communities face natural adversity, and Resilience can be an influencing factor that leads to the vulnerability of a system.
To build a Sustainable infrastructure, We need to plan, design, and construct an infrastructure to ensure social, environmental, and economic Sustainability over the lifecycle. Sustainable Infrastructure reflects on the construction design, material, methods, and resources. Smart strategies, embracing digital innovation, and an outcome-focused approach are crucial to building a Sustainable Infrastructure.
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