Insights from MIPIM 2024: Meeting Global Demand with Data-Driven Value

From the CEOConferencesFeaturedESG
Written By Janelle Decarreau

This month, our President and CEO, Joanna Frank, joined more than 20,000 real estate professionals — many of them Fitwel Champions, affiliated partners, and Best in Building Health Award winners —in Cannes, France, for MIPIM 2024. While the discussions were varied, all focused on the industry's changing priorities and the challenges faced today and in the near future.

Here are our top 4 takeaways.

1. Unveiling Social Performance™ by Fitwel® Sparked Industry Interest 

Today, the industry understands the impact of the 'E' in ESG on financial performance and recognizes that the 'S' represents the next frontier. Fitwel-specific conversations focused on the recent announcement of our new certification pathway, Social Performance by Fitwel, developed in collaboration with EVORA Global. Our social solution links asset value to social performance strategies and is applicable across a portfolio of assets. As EVORA’s Director and Head of Social Well-being, Sarah Coughlan shared, “This approach focuses on concrete data and business cases for doing good while driving financial outcomes, rather than proxy values, unlike social return on investment strategies (SROI), which are more familiar to UK audiences and primarily estimate a strategy’s impact on individuals and the economy.”

Following the successful completion of the initial pilot with industry leaders such as PGIM Real Estate, QuadReal Property Group, and others, many of whom were in attendance at MIPIM, we launched this ground-breaking tool, which has sparked strong interest in its use at scale across a wide range of asset types and asset classes.

2. Streamlining ESG for Value was Top of Mind  

Environmental, Social, and Governance (ESG) teams at MIPIM expressed frustration with bureaucratic paperwork and reporting requirements that limit strategic action. These teams are looking for "so what" — actionable ESG data insights that can help improve asset performance. In response to this industry gap, we are developing ever more streamlined tech-enabled tools and standardized evidence-based solutions to assist ESG teams in optimizing their assets and portfolios. Our goal is to accelerate real estate ESG initiatives by providing a roadmap for improving asset performance through data collection and actionable outcomes, alleviating outdated administrative burdens.

3. The Future of Investing: Multifamily, Student, Industrial

Industry-wide conversations emphasized investments across various asset types but particularly highlighted all types of residential housing as well as industrial. There was also a focus on adaptive reuse and the growing trend of converting vacant offices into residential and even industrial spaces. These discussions reflect shifting market dynamics and a strategic shift toward maximizing the utility of existing assets in response to changing demands and preferences.

4. Showcasing a Culture Shift Toward Equity

Everyone attended MIPIM, but women truly made their mark. One of the most noticeable trends that was observed was the number of women in attendance. Joanna was one of more than 40% of the women panelists at the conference. In her words, 'It was empowering and enlightening to see, but the quality of conversations among leaders, regardless of gender, was the most compelling part.'

Fitwel is committed to continuing to support the industry in future-proofing assets of all types globally and responding to the needs of our customers. Fitwel is investing in data-driven, entity-wide solutions including Social Performanc by Fitwel. To learn more and become an early adopter of Social Performance, enroll today at: fitwel.org/social-performance.

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Janelle Decarreau
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