How Knight Frank is pushing forward with ESG strategies to reduce climate impact of real estate industry: Eamon Fox

As 2025 gets under way, and we all return to work with new resolutions and objectives, the issues of sustainability, climate change and inequality should be at the forefront of our minds.

The real estate industry, often unfairly portrayed as a bastion of uncaring capitalism, has a pivotal role to play in tackling these social and geo-political problems. The challenges we face are massive and difficult to solve and we cannot underestimate how far we need to go. But by going together, working shoulder to shoulder in partnership, we can go further and be bolder.

We must work responsibly, as partners, to enhance people’s lives and environments.

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There’s no doubt that he built environment has a significant influence on the challenges we’re facing as a society, from climate change and managing our limited natural resources to social inequality.

Eamon Fox shares his expert insightEamon Fox shares his expert insight
Eamon Fox shares his expert insight

We want our influence to be positive, so it’s absolutely vital that, at Knight Frank, we use our global reach and independent voice to help our clients, and our sector become a responsible guardian of a sustainable future.

The threat of climate change is very real. Last year, for example, was one of the very hottest on record in the UK. So, it would be irresponsible not to share the growing concern over important environmental, social and governance (ESG) issues. That’s why Knight Frank is committed to lowering our operational footprint, encouraging a more equitable society, and helping those we work with to do the same.

We know that changes by all of us, for all of us, will sustain our planet for generations to come. We must shape our industry through partnership, working with clients, industry peers and research facilities to guide responsible development and find opportunities to enhance its positive impact.

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Our future success relies on embedding ESG thinking into everything we do. It’s key that it remains authentic and in harmony with our global purpose and shared values, which bind us together and keep us focused. Our purpose sets out what we bring to the world, and our values show the way we operate.

ESG is a vast, fast-moving landscape. While we can’t cover it all, we can set ourselves up to become leaders in the areas where we can make the biggest difference. Our ESG framework is divided into three areas for action:

  • Restoring the natural environment – we’re committed to reducing our carbon (greenhouse gas) emissions, helping restore nature, and advocating for climate resilience.
  • Creating inclusive workplaces – we’re committed to being an inclusive business, where everyone’s potential is unlocked, and difference is celebrated and valued.
  • Strengthening communities – we’re committed to supporting our communities, by understanding their needs and addressing local challenges through corporate investment and partnerships.

Our industry relies on products and services made or powered by natural resources.

Unsustainable consumption and production not only deplete those resources, but the associated extraction, processing, manufacturing and waste disposal often have a negative impact. This drives three planetary crises: climate change, biodiversity and nature loss and pollution.

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The built environment accounts for around 40 per cent of global carbon emissions. We’re committed to achieving net zero by setting ambitious emissions reduction targets in line with climate science. We’re working with our global partners to reduce emissions across our entire value chain.

Action already taken includes transitioning to electric vehicles where possible. We also joined the Race to Zero and Business Ambition to 1.5°C campaign. Meanwhile pollution reduces the quality and quantity of natural resources available.

Many of our offices globally are implementing resource use and waste management strategies to help reduce the need for new raw materials and cut down on greenhouse gas emissions.

Partnerships are key to the success of these ESG objectives, and I am proud to be working with some of the most enlightened developers in the UK here in Leeds. Kinrise, CEG, Rushbond, Opus North, Bruntwood, Town Centre Securities and MRP, who are responsible for most of the stunning new developments in the city.

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All these developers combine a keen commercial sense with an unwavering commitment to quality and sustainability.

Finally, and this is crucially important if we are to make a difference, it is vital we practice what we preach. We are committed to being an inclusive business, where everyone’s potential is unlocked, and difference is celebrated and valued.

We want every member of our team to feel comfortable bringing their true selves to work and safe to express themselves without fear of judgement or discrimination. Everyone should be supported, rewarded, and given the same opportunities to thrive, no matter their age, race, gender or sexual orientation.

We want our people to feel empowered to do great work, to feel included, and to be heard. We’ve renovated many of our offices – by modernising our working environments, we’re promoting healthier, more dynamic ways of working.

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We also know flexibility is important, so we allow our people to work flexibly out of the office on an as-needed basis, subject to their job requirements.

So, let’s start 2025 in a positive frame of mind. Yes, the challenges facing our industry and our planet are huge, but that doesn’t mean we shouldn’t tackle them. That’s my New Year’s resolution – and I hope it’s yours, too.

Eamon Fox is a partner and head of development at the Leeds office of global property consultancy Knight Frank

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