ULI: RE Execs Favor 'Responsible' Investing

More than 80% of real estate executives in a recent survey said their company goes beyond legal requirements to address social or environmental issues, according to the Urban Land Institute.The ULI said this interest in "responsible property investing" indicates a willingness to adopt a "triple bottom-line" business approach that measures success in terms of social and environmental values as well as economic ones. More than 90% of the survey respondents agreed that pursuing social and environmental goals as a business strategy will be more important in the future. "We are seeing a definite shift in attitudes," said Stephen Blank, a ULI senior resident fellow. He said the survey shows that a growing number of real estate executives believe that "you can do well by doing good." The survey, cosponsored by the ULI, was conducted from November 2006 to January 2007 by Professor Gary Pivo of the University of Arizona. The ULI can be found online at http://www.uli.org.