Industry wasting time on data, says Allianz RE sustainability head

The real estate industry is wasting time on debating reporting and data auditing instead of acting to improve buildings, claims the head of sustainability for Allianz Real Estate.

“I understand there is a risk of greenwashing, but currently we are wasting too much time with proving we are doing the right things – with debates over reporting, auditable data and standardisation – instead of doing the right things”, Raphael Mertens, chief sustainability officer for Allianz Real Estate, which has €91.3 billion ($98.82 billion) of assets under management, told AsianInvestor magazine.

Time which should be spent on improving buildings’ sustainability was being wasted due to a focus on getting auditable data on emissions, he added, saying that he spent a lot of time talking to regulators and auditors about data harmonisation. 

Mertens also said asset owners needed to accelerate tenant engagement if they wanted to achieve their sustainability goals.