European competition targets decarbonisation

A new competition has been launched for companies specialised in the decarbonisation of real estate.

European investment manager Azora and CBRE Spain have launched the Climate Solutions Challenge, a European competition to identify leading companies which contribute to mitigating the environmental impact of real estate, increasing the adaptive capacity of urban ecosystems and delivering a positive impact on society. 

The competition is open for smaller companies with EBITDA of up to $10 million.

“The Climate Solutions Challenge is a direct route for European companies to access a unique business development opportunity in decarbonisation by working with two of the most important companies in the real estate sector,” said Fernando Gómez Fortún, investment director at Azora.

“With the Climate Solutions Challenge we hope to identify more innovative formulas with which to accelerate decarbonisation and achieve a much more sustainable real estate sector", said Patricia García de Ponga, head of ESG at CBRE Spain.

Applications will be accepted until Monday, December 11, and the winning project will be eligible to receive funding from Azora and work with both companies to boost its business development. More details are available here.