Events

LBS Alumni in Singapore join us to discuss "Building Economic Resilience in Sustainability" with LBS Former Dean François Ortalo-Magné.

NY Climate Week panel on Decarbonizing Built Assets

London Business School Alumni Sustainability Club and Columbia Business School's Women's Circle, we're thrilled to share highlights from our NY Climate Week panel on "Decarbonizing Built Assets".

We'd like to thank our moderator, Stijn Van Nieuwerburgh, professor of real estate at Columbia Business School and co-director of the Paul Milstein Center for Real Estate.

We'd also like to thank our panelist and industry leaders Daniel McGee, PE, David Davenport (CBS '95), and Shanta Tucker, who unpacked the intersection of zero-carbon standards, financing strategies, and the long-term value of resilient buildings.

Stijin opened to remind us the impetus of decarbonizing the built environment is the urgency of climate impacts. To mitigate these factors, he set-up four themes:

1) The Building Science of Decarbonization: Shanta shared that designing new buildings with lower carbon materials, specifically mass timber, carbon-smart concrete, and glass-based replacements aren’t just sustainability wins; as Dan validated, these materials reduce embodied carbon while making buildings easier to run and more rentable. For NYC, both David and Shanta recommended multi-family and commercial managers to start with lighting and then progress to more complicated mechanical solutions to meet LL (97, 84, 133,154) compliance requirements.

2) Financing the Transition: David discussed from weatherization and heat pumps to full-scale retrofits, sequencing upgrades is as much about how to fund them (ESCO models, revolving loan funds, incentives) as what to build. Financing design is now central to climate resilience. David also emphasized the importance of timing: he urged real estate owners/REITs to take advantage of refinancing moments, property sales, or end-of-life system replacements. These are all critical decision points for deploying capital into energy efficiency and can positively impact NOI, insurance, and appraisals.

3) The Investment Case and Ownership Lens: Dan led a discussion with all three panelists on how electrification, climate resiliency, and on-site water capture aren’t “costs”—they’re opportunities. Buildings the embrace sustainability deliver operational resilience, regulatory compliance and strong portfolio performance.

4) Scaling and Policy Levers: All panelists shared their optimism, specifically generational and global momentum; increasingly younger tenants and investors demand sustainable alignment, while global pressure—especially from China’s role in renewables—sets the pace for costs and adoption.

Coming out of this panel, it's clear that the future of real estate is being shaped by a simple truth: as long as the cost of energy continues to increase, sustainability isn’t just about values—it’s about long-term returns.

Thank you to all our participants for joining.

Alexander Sultan Teri Mendelsohn Brad Pickar

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