In this episode of the Property Funder Podcast, host Michael Dean sits down with Ghislaine Halpenny, Director of ESG and Corporate Affairs at Regal. The two discuss the significance and intricacies of ESG (Environmental, Social, and Governance) in the property development sector.

Highlights:

Understanding ESG in Property Development

• Ghislaine elaborates on what ESG encompasses and why it is crucial for developers to prioritise these components. She explains that focusing on ESG is not just a societal obligation, it also yields better long term returns. The conversation delves into the specific meanings of the Environmental, Social, and Governance elements, illustrating how Regal incorporates these into their projects for substantial, positive community impact.

Real-World Application and Challenges

• The discussion shifts to practical applications, highlighting how Regal actively implements ESG strategies. Ghislaine provides insights into the challenges of balancing development goals with social responsibilities, such as affordable housing and community benefits. She also addresses the concept of greenwashing, explaining how Regal strives for genuine sustainability efforts as opposed to superficial environmental claims.

The Impact of ESG on Financing and Investments

• Exploring the financial aspects, Ghislaine discusses how ESG factors into planning applications and the increasing regulatory requirements that developers face. She emphasises the emerging trends in financing where ESG performance can influence investment decisions, highlighting the need for transparency and genuine practices in reporting ESG impacts.

The Broader Implications of ESG

• Ghislaine and Michael ponder the broader implications of ESG on the industry and the potential for these practices to reshape public perceptions of property development. They discuss the necessity for the industry to lead with integrity and transparency to foster trust and community support.