Sustainability is becoming a financial consideration for more and more property owners. A combination of increased interest in ESG investing and new government regulations drive this shift in thinking. Property owners are taking a closer look at their HVAC systems as a result and spending more in some cases.
A panel at the recent Urban Land Institute family meeting discussed how a push for net zero carbon emissions affects their decisions about HVAC equipment. Alexander Hancock, a portfolio manager for real estate domestic equity at Nuveen, said the path there is a major undertaking. It’s something Hancock thinks about daily.