Irvine, CA
Investors are increasingly focusing on ESG solutions. RiverRock Real Estate Group, which is shifting to a more client-centric strategy, is seeing an increased demand from pension funds for "meaningful solutions" to the environmental, social and governance issues that come with real estate ownership. As a result, the firm has included a focus on ESG solutions for its clients.
"Looking outward, we see that across the real estate spectrum there is an increased urgency focused on a broad range of Environmental, Social, and Governance (ESG) which refers to the three central factors in measuring the sustainability and societal impact of an investment in a company or business," John Combs, founder of RiverRock Real Estate Group, tells GlobeSt.com. Our clients, especially pension fund advisors and their pension funds, are demanding meaningful solutions to the environmental, social and governance issues inherent in real estate ownership.
The regulatory environment, particularly in California, is fueling this demand. "They are increasingly being challenged to demonstrate their efforts through numerous protocols and scoring regimens," says Combs. "This is a critical aspect of our strategic plan and another reason for engaging David in the process. His long record of leadership in this field is a key part of our strategy plan going forward."
This is one aspect of the firm's new business strategy goals. In 2020, it will analyze client needs to identify areas ESG solutions and needs. "We are taking a critical evaluation of the organization to best understand our strengths to capitalize on them, and our weaknesses to improve on them," David Pogue, chief strategy officer at RiverRock Real Estate Group, tells GlobeSt.com. We're looking at every aspect of employee and client relations with the same aim. As noted, we will examine what we can offer clients to help them better measure their sustainability and societal impact and we will look at the changing real estate landscape and how that is impacting the role of the property manager. That means, we will be evaluating both new service offerings and geographic reach to consider how each can best serve our clients and their portfolio's evolving needs."
In addition, the firm is going to recruit employees that match this culture. "And we want to make sure that we are telling our story well, both internally and externally, to reach our appropriate audiences," says Pogue. "Employee attraction and retention will remain challenging so our ability to create and sustain a strong culture will be increasingly important to our success."
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Kelsi Maree Borland
