module specification

Societal demands in response to climate change and social injustices are forcing real estate investors, owners and occupiers to become increasingly accountable for the impact of their decisions not only on the environment but on people and communities as well. ESG (environmental, social and governance) initiatives are the response to these concerns. Responsible development, investment and management of real estate are at the core of these initiatives, affecting all aspects of real estate and influencing business decisions.

Reporting metrics and regulation are evolving to meet stakeholder demands to improve climate stewardship, social value and ethical governance across the real estate sector and you will examine reporting mechanisms, along with looking at a broad base of examples from around the world. Throughout the module you will be expected to critically examine sustainability at all stages of the property lifecycle, in relation to ownership, development and investment in property; from government and shareholders to supply chains and local communities.

• Definition of environmental, social and governance in relation to real estate (LO1)
• Public sector requirements (LO1)
• Decarbonising and net-zero (LO1)
• Defining social value (LO1, LO3)
• Ethical/unethical business practice (LO1, LO4)
• Metrics of sustainable performance  (LO2, LO4)
• Established and emerging legislation and regulations (LO2)
• ESG across the globe (LO3, LO4)
• Investment and valuations (LO3)

Study will be supported via lectures, seminars, workshops, and guided asynchronous activities. Where appropriate, activities, will be captured and made available to allow asynchronous access. The value of this blended approach is that you will be able to continue to explore topics beyond the classroom and interact with your cohort to expand on discussions and debates. Use of the VLE will also enable communication between academics and students and between students using discussion boards and other tools such as Padlet.

Lectures will help develop your knowledge and understanding gained from level 4 and 5, and workshops and other activities will allow you to apply your learning to a range of situations, helped by peer and tutor support.

You will receive formative feedback at regular intervals.  Formative means that the feedback will not go towards your final mark for the module, but you will be able to use the feedback to learn, improve your knowledge of key topics and to develop your academic writing skills. Students will be given the opportunity to self-assess their learning in small group sessions and discussions.

You will be asked to do independent and guided reading and research to support your learning, this will help you to build a wider knowledge of economic theory and how it relates to the built environment and how it will affect you as a real estate professional.

On completion of the module the learner, operating independently and applying their knowledge and skills, should be able to:
1. Critically examine the social and environmental sustainability drivers on real estate.
2. Appraise sustainability accounting procedures and their effectiveness in a variety of circumstances.
3. Investigate the relationships between environmental, social and governance performance and value creation in relation to real estate.
4. Critique examples of sustainable business models.

There is no single text currently in publication that provides a comprehensive coverage of all aspects of this module. The majority of resources relating to this subject area are available via the websites of organisations, such as the UK Green Building Council (UKGBC), Social Value UK, Better Buildings Partnership and B Lab UK.

Core:
Armstrong, J. (2023) The Future of Energy. Energy Technology Publishing.
Berners-Lee, M (2021) There Is No Planet B. Updated edn. Cambridge: Cambridge University Press.
Better Buildings Partnership (2023) What is social value? Available at: https://www.betterbuildingspartnership.co.uk/ (Accessed: 10 May 2023).
B Lab UK (2023) Knowledge and resources. Available at: https://bcorporation.uk/act-and-learn/knowledge-and-resources/ (Accessed: 10 May 2023).
Social Market Foundation (2022) Investing in social value: Perspectives from the real estate sector. Available at: https://www.smf.co.uk/publications/social-value-of-real-estate/ (Accessed: 10 May 2023).
UKGBC (2022) A guide for delivering on social value on built environment projects. Available at:  https://ukgbc.org/resources/a-guide-for-delivering-social-value-on-built-environment-projects/ (Accessed: 10 May 2023).
UKGBC (2023) Advancing net-zero. Available at: https://ukgbc.org/our-work/topics/advancing-net-zero/ (Accessed: 11 May 2023).