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The Ledger
Thought Leadership in Investment Strategy & Capital Markets


Operational Strategy: The Quiet Legal Innovation Powering Europe’s Green Office Revolution
Green leases are emerging as powerful legal tools in Europe's push to decarbonize its office buildings. From retrofit cost-sharing to enforceable ESG clauses, these contracts are reshaping asset value and regulatory risk. Discover how a quiet legal evolution is driving a green office revolution, clause by clause.
Apr 233 min read


Operational Strategy: The Retrofit Moment — Repricing, Regulation, and the Real Cost of Delay
Retrofitting is no longer just about compliance. As regulation tightens and tenant demand shifts, Europe's commercial real estate market is undergoing a decisive repricing. The opportunity now lies in identifying transition-ready assets before the market catches up.
Mar 264 min read


Primer: The Green Impact Multiple (GIM) ©
Rethinking green retrofits: How the Green Impact Multiple (GIM) aligns sustainability with short-term investment strategies and ROI.
Feb 64 min read


Capital Markets: Stranded Assets and the Financial Risk Multiplier in CRE
Stranded assets pose risks and opportunities. Explore how ESG, green retrofits, and tenant demand are reshaping CRE investments globally.
Jan 285 min read


Policy Brief: The Efficiency Reckoning Begins
As 2024 draws to a close, energy performance is moving from ESG checkbox to financial driver. Regulation, valuation standards, and early capital signals are converging to reprice inefficient assets across Europe. The efficiency reckoning has begun.
Nov 27, 20243 min read


Capital Markets: Catastrophe Bonds and Climate Risk Pricing in Real Estate
Catastrophe bonds provide a key insight into climate risk pricing, helping CRE investors align portfolios with rising climate-related risks.
Oct 9, 20245 min read


Energy Transition Watch: CFTC Tightens Oversight of Carbon Credits
New CFTC guidelines strengthen carbon markets, offering CRE firms a clearer path to credible decarbonization and investor confidence.
Sep 25, 20243 min read


Energy Transition Watch: Rising Catastrophe Losses and the Real Estate Imperative
Rising catastrophe losses threaten real estate investments. Discover strategies to protect and future-proof your portfolio.
Sep 18, 20244 min read


Energy Transition Watch: The Future of Carbon Credits and the Renewables Integrity Question
Renewable energy carbon credits face scrutiny, signaling a shift in carbon offset strategies for CRE investors. Discover how to adapt.
Aug 7, 20244 min read

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