Sustainable real estate investment and finance in developing economies: challenges and opportunities

Frank K. Ametefe, Precious A. Brenni and François Viruly

Chapter 17 in Sustainable and Responsible Investment in Developing Markets, 2023, pp 262-285 from Edward Elgar Publishing

Abstract: The focus on sustainability-related issues has gained prominence in recent years, more so in the wake of the COVID-19 pandemic that has placed a growing emphasis on social well-being. With real estate occupying a central place in the built environment, developers, investors, and financiers are increasingly being called upon to play their part in achieving more sustainable outcomes. This chapter derives from a desk review of many academic and industry material on sustainable real estate investment, with a specific focus on the opportunities and challenges in developing markets. We primarily work within the ESG framework and utilise the NVivo software to systematically analyse a large volume of textual information. Our analysis of the literature suggests that debt instruments such as green bonds and sustainability bonds have huge growth potential in developing countries. There is a growing realisation that the ESG and sustainability debate should consider the specific socio-economic context of developing markets.

Keywords: Business and Management; Development Studies; Economics and Finance; Environment; Sustainable Development Goals (search for similar items in EconPapers)
Date: 2023
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