The Real Estate Sector's Reflection on Sustainability in the Real Estate Sector

Amidst global commitments to mitigate climate change and prioritise sustainability, the Real Estate Sector (RES) is a pivotal yet complex arena for sustainable development. Despite international agreements like the Kyoto Protocol and the Paris Agreement, carbon emissions have surged, with the RES significantly contributing to this trend. This dissertation delves into the perceptions and considerations of sustainability within the RES by stakeholders in the UK, recognising the sector’s crucial role in shaping urban environments and addressing climate challenges. This study is motivated by personal observations in London and Israel and global imperatives, highlighting the disjuncture between sustainability rhetoric and real-world practices in Real Estate development. Using qualitative research methods, in-depth semi-structured interviews were conducted to gather insights from UK RES stakeholders. The findings indicate a spectrum of sustainability interpretations and illuminate diverse perspectives on sustainability. Some stakeholders actively champion sustainable practices, while others prioritise financial gains over social and environmental concerns. Despite pockets of progressive sustainability leadership, decision-makers often overlook sustainability considerations constrained by entrenched moral norms rooted in capitalist economic growth paradigms. This, along with a lack of education and governmental inertia, hinders the progress towards sustainability goals. Through a comprehensive literature review, methodological insights, and empirical findings, this dissertation contributes to the discourse on sustainable urban development. It sheds light on the complex interplay between sustainability aspirations and practical challenges within the RES. The thesis concludes with reflections on the broader implications of the findings and underscores the urgent need for enhanced education, the importance of aligning economic incentives with environmental and social objectives and calls for proactive government intervention and leadership to drive meaningful change towards a sustainable built environment. Furthermore, it highlights the need for a paradigm shift in moral norms, moving away from profit-driven models towards holistic sustainability. The thesis offers valuable insights for future research, practitioners and policymakers striving to foster sustainability in the built environment.

Name dc:type.qualificationname

mba

Level dc:type.qualificationlevel

masters

Grantor dc:publisher.institution

University of Wales Trinity Saint David

Year dc:date.issued

2024

Author dc:creator

• Schumm, Melanie

• HD Diwydiannau. Defnydd tir. Llafur

Dc Identifier Grantnumber

UWTSD

OAI identifier oai:identifier

oai:repository.uwtsd.ac.uk:3095