Assessing the Impact of Voluntary Certification on Sustainable Development in the Real Estate Industry

Kilian Arthur Jea Enders

ERES from European Real Estate Society (ERES)

Abstract: This research examines the role of voluntary certification, especially concerning the sustainable and governmental aspects for the real estate industry. The underlying paper delves into the implication and effectiveness of voluntary certification as a tool to promote ESG-conformity practices in real estate. By applying a systematic literature review on current academic papers, fragmented opinions regarding a certificate’s effectiveness can be perceived. The author identifies several key trends and controversial opinions regarding voluntary certification while examining its impact on investment decisions, market values, and regulatory landscapes. The findings indicate a complex interplay between economic-driven incentives, governmental regulation, and standards set within voluntary certification. This study contributes to understanding the dynamics between sustainable development and sustainable ambitions of and for the real estate industry.

Keywords: Environmental impact assessment; Governance & Regulation; sustainability; Voluntary Certification (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2024-01-01
New Economics Papers: this item is included in nep-env and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2024-063

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