Click here to download the sustainability report 2023

Paul Frost, Managing Director of Puma Property Finance, one of our UKREiiF partners for 2024, delves into the transformative potential of the property finance market to foster the adoption of greener development practices.  He highlights that in an era where environmental consciousness is not just a trend but a necessity, the role of property finance in driving sustainable and socially impactful construction has never been more critical.

Through the introduction of the innovative Impact Lending Framework and a strategic partnership with UCL’s Bartlett School of Sustainable Construction, Puma Property Finance is setting a new standard for environmentally responsible investing in the commercial property sector.

Navigating Challenges in a Changing Landscape

The commercial property sector has encountered significant turbulence, exacerbated by the COVID-19 pandemic, inflationary pressures, and an acute housing shortage. These challenges have sparked a debate on whether sustainability initiatives are feasible in the current economic climate. Contrary to viewing these efforts as an extravagance, Puma Property Finance advocates for sustainability to be at the forefront of the UK’s recovery strategy, emphasising the indispensable role of property finance in achieving this goal.

Embracing ESG for a Sustainable Future

The adoption of Environmental, Social, and Governance (ESG) criteria is paramount in mitigating the construction industry’s environmental impact, responsible for a substantial portion of global carbon emissions. The transition towards sustainable construction is not without its hurdles, including cost implications, the availability of sustainable materials, and shifting consumer preferences. Despite these challenges, the urgency for change is palpable, with government initiatives and regulations fostering a move towards greener building practices.

Forging Collaborative Pathways

Understanding the complexities of sustainable construction, Puma Property Finance has embarked on a partnership with the Bartlett School of Sustainable Construction at UCL. This collaboration aims to amalgamate insights from industry, policy-making, and academia to craft actionable sustainability practices. Such synergistic efforts are vital in navigating the barriers to sustainable construction and devising strategies that resonate across various stakeholders.

Impact Lending Framework: A Catalyst for Change

In a bold move to promote sustainable and impactful building projects, Puma Property Finance has unveiled its Impact Lending Framework. This pioneering initiative seeks to financially reward developers who incorporate sustainable and socially beneficial elements into their projects. By aligning financial incentives with sustainability and social impact criteria, the Framework encourages developers to integrate eco-friendly practices and contribute to societal well-being. This innovative approach not only supports environmental sustainability but also stimulates investments in underserved areas and affordable housing projects.

Summary: Expanding the Horizons of Sustainable Property Finance

The introduction of the Impact Lending Framework by Puma Property Finance marks a significant milestone in the journey towards sustainable construction. This initiative exemplifies how the property finance sector can play a pivotal role in accelerating the adoption of sustainable practices in the built environment. By providing tangible incentives for green development, Puma Property Finance is leading by example, encouraging other industry players to follow suit. The collective efforts of financial institutions, developers, and policymakers are crucial in shaping a sustainable future for the commercial property sector.

As we forge ahead, the commitment of Puma Property Finance to sustainability and social responsibility sets a benchmark for the industry, demonstrating the transformative power of property finance in the green revolution. Through continuous innovation, collaboration, and advocacy, the goal of achieving a more sustainable and equitable built environment is within reach, heralding a new era of responsible construction and development.

Read about this subject in more depth HERE.

The urgency to mitigate the impacts of climate change has required a change in our approach to environmental sustainability. Members Equans highlight progress has been made in reducing coal use and adopting renewables, yet sectors like heat, buildings, and transport are still lagging.

Meeting the Climate Change Committee's Sixth Carbon Budget (2033-2037) requires a significant shift in how we heat, power communities, and get around. A range of low carbon measures, from heat pumps to energy-efficient lighting and EV adoption, offer support; but climate change can not be tackled in silos.

The pace of change varies across the UK's regions, necessitating tailored, whole-system solutions. Place-based decarbonisation has emerged as a promising strategy, recognising unique regional challenges and opportunities. It goes far beyond carbon reduction, envisioning a transformation of the built environments, economic landscape, and social dynamics.

Equans has developed a holistic, sustainable regeneration model integrating technical optimisation, blended funding, social impact maximisation, and legal and commercial innovation. This multifaceted approach aims not only to reduce carbon emissions but also to create lasting positive impacts on communities.

The strategy revolves around four interconnected solutions:

  1. Systems Optimisation: Focusing on optimising technical systems like low carbon infrastructure and renewable energy integration to accelerate the path to net zero.
  2. Blended Funding: Combining central government grants, local stakeholder capital, and private finance to ensure financial resilience and inclusivity in sustainability projects.
  3. Social Impact Maximisation: Placing community engagement at its core, tailoring solutions to address community needs, fostering environmental stewardship and social cohesion.
  4. Legal and Commercial Innovation: Reshaping legal and commercial frameworks to support decarbonisation efforts, prioritizing long-term sustainability.

Success is measured across three key dimensions - economically, environmentally, and socially; anticipating job creation, reduced carbon emissions, improved air and water quality, and enhanced community well-being.

Place-based decarbonisation is a community-driven transformation, envisioning resilient, thriving places that serve as models for a sustainable future.

Read more at Equans



Driving Sustainable Growth: UKBCSD Leads Rebranded Pavilion for Sustainable Growth Agenda at UKREiiF 2024.

The Sustainable Growth Pavilion, previously Beyond Net Zero, is a cornerstone of The UK’s Real Estate Investment & Infrastructure Forum (UKREiiF) 2024, and is back for its third consecutive year. This pivotal event, slated to take place in Leeds, brings together industry leaders, sustainability advocates, and innovative companies to propel positive change within the property and construction sectors.

Partnership Driving Progress

The Sustainable Growth Pavilion is honored to welcome headline partners Sir Robert McAlpine and Sir Robert McAlpine Capital Ventures for the second consecutive year, alongside Prologis UK, fostering a collaborative approach to tackle sustainability challenges across sectors. Their continued support underscores a shared commitment to building a sustainable future.

A Nexus of Innovation and Collaboration

Set against the backdrop of UKREiiF, the Pavilion promises three days of immersive content, serving as the epicentre for exploring best practices and innovations in sustainable growth across finance, construction, property, energy, and real estate. Attendees can expect thought-provoking sessions, dynamic panel discussions, and invaluable networking opportunities, fostering knowledge sharing and partnership cultivation.

Jason Longhurst, Chair of UKBCSD, expressed his enthusiasm for the event, highlighting its role in fostering a more sustainable and inclusive industry.

“In its third year, the Pavilion remains a catalyst for meaningful conversations and collaborative efforts,” Longhurst stated. “We eagerly anticipate engaging with businesses and organisations seeking expertise on their sustainable development journey.”

Diverse Perspectives, Shared Vision

The event is expected to draw prominent figures from industry and politics, previous keynotes have included speakers such as Sir Andrew McAlpine, Chris Walker MP, and influential mayors. Their participation underscore the importance of collective action in driving sustainability agendas forward.

Industry Voices

Grant Findlay, Executive Managing Director Buildings at Sir Robert McAlpine, emphasised the value of partnerships in addressing pressing issues.

“We believe UKREiiF is the perfect environment to forge meaningful partnerships that drive solutions and innovation for a better future,” Findlay remarked.

Paul Weston, Regional Head at Prologis UK, echoed this sentiment, stating,

"As a leading voice in sustainability, UKBCSD is a natural partner for Prologis UK. We look forward to participating in a wide range of sessions within the Pavilion."

Paving the Way Forward

Equans UK and Ireland and Puma Property Finance, as session partners, will contribute their expertise to the Pavilion, further amplifying its commitment to collaboration and innovation within the built environment.

Opportunities for Engagement

For those interested in partnering with the Pavilion or becoming a UKBCSD member contact us.

Building a Sustainable Future Together

Organised by Built Environment Networking, UKREiiF 2024 promises to attract significant investment, drive economic growth, and foster a culture of sustainability and inclusivity. To stay updated on the Sustainable Growth Pavilion and UKREiiF 2024, visit here.

As the Sustainable Growth Pavilion prepares to take centre stage, it serves as a testament to the power of collaboration and innovation in driving positive change within the property and construction sectors. Together, we can build a more sustainable future for generations to come.


We are delighted to welcome Troup Bywaters + Anders LLP to the UKBCSD network.  In their latest ESG report readers can see the 'Three Pillars' approach of ‘Growing people’, ‘Sustainability at Heart’ and ‘Achieving Quality & Consistency’, as they work towards net zero carbon and wider sustainability goals.

Troup Bywaters + Anders LLP’s latest ESG Report brings together all of their activities and impacts over the past year (2022-2023) as a socially responsible and ethical partnership.

The report captures progress through their three pillars of ‘Growing people’, ‘Sustainability at Heart’ and ‘Achieving Quality & Consistency’, as they work towards net zero carbon and wider sustainability goals.

TB+A have recently been awarded the ‘Investors in People Platinum: Large Employer of the Year’ for their work on developing the skills for tomorrow through apprenticeships, training & development and initiatives to embed sustainability into the curriculum for a wide range of industry sector apprenticeships.

"TB+A's inclusion in the UKBCSD network is welcomed. Their ESG Report showcases a year of substantial progress towards net zero goals, underpinned by their commitment to nurturing talent, sustainability, and excellence. TB+A is setting the standard for future-focused, ethical partnerships. As we welcome them, we look forward to a shared path towards a sustainable, more responsible future for growth." - Jason Longhurst, Chair of UKBCSD

As a foreword in the report, Jill Nicholls, Head of Construction & the Built Environment, Transport and Logistics at Institute for Apprenticeships and Technical Education commented:

“TB+A were the obvious choice of partner for the Institute for Apprenticeships & Technical Education (IfATE) following the recommendation in our construction route review that sustainability should be compulsory content in apprenticeship and technical education products going forward in the construction & built environment route.

Their knowledge and experience of this agenda is obvious, evidenced by performance but almost understated in that they just do it, no fuss, it’s just business as usual. Therefore in only a matter of weeks, we had developed the sustainability knowledge, skills and behaviours to be used in the development and revision of all apprenticeship standards in the route. However thanks to TB+A’s bigger picture thinking, we developed two sets, one for construction & the built environment and one for all sectors. These now appear on our website and in only 8 months, we have already revised 40% of our apprenticeship standards to incorporate them.

And in even more exciting news, they are deemed as such a strong foundation, that they have been used to update our sustainability framework to strengthen our desire to support employers in reaching carbon zero goals, with apprentices leading the way and being the future sustainability leaders of their organisations.”

Read the full report at:

In today's rapidly evolving world, the quest for sustainability has taken centre stage in virtually every industry. One area where this is particularly crucial is housing. In a recent virtual gathering, stakeholders from across the housing sector convened to discuss the intricacies of sustainable homes, shedding light on key challenges and potential solutions.

The Sustainable Homes Matrix is the third research paper from industry workgroups part of UKBCSD members, the South East Consortium. It’s a guide to building and maintaining sustainable homes that are fit for the future with residents in mind.

UKBCSD Sustainable Homes Advisor Michael David, shares four key themes that emerged from this  roundtable event.

1.Understanding Stock Condition

One of the primary hurdles highlighted during the meeting was the inadequacy of residential stock condition surveys. These surveys conducted infrequently, often prioritise financial asset valuation over operational intervention. In stark contrast, the commercial sector conducts surveys biannually, delving into the entire lifecycle of the properties. To pave the way for sustainable homes, there's a pressing need for housing providers to gain a nuanced understanding of their stock condition on a more regular basis. This entails moving beyond mere financial valuation to operational insights that drive meaningful interventions.

2.Empowering Retrofit Initiatives

Retrofitting existing homes plays a pivotal role in enhancing sustainability. The government's release of SHDF2.2, allocating a substantial £800 million, underscores the commitment to this cause. However, challenges persist, including gaps in supporting factors such as the supply chain, training, and skill development. Moreover, there's a pertinent question regarding the retrofit sector's aspiration to merely achieve a 'C' energy performance certificate (EPC) rating. Should the focus be on a few outstanding cases or elevating the majority to a commendable standard? These questions prompt a deeper exploration of how retrofit initiatives can be optimized to drive sustainable outcomes effectively.

3.Embracing Smart Maintenance

Central to the discussion was the concept of smart maintenance, encapsulated in a six-step program. While the technical aspects are crucial, it's imperative to prioritize the tenant's perspective. After all, a home isn't just a physical structure—it's a sanctuary where individuals seek comfort and security. Recognising the subjective nature of home experience, the discussion underscored the importance of tailoring maintenance programmes to accommodate diverse occupant needs. Furthermore, drawing insights from international examples, such as Norway's low-maintenance homes or Spain's and Portugal's innovative cooling solutions, can enrich smart maintenance strategies and fortify resilience against future climate challenges.

4. Shaping Sustainable Homes Policy

Beyond individual homes, sustainable housing policy must consider broader infrastructure considerations, including energy sources and district heating systems. While energy often dominates discussions, water sustainability emerged as a significant concern, with proportionally larger price increases than electricity. As stakeholders engage with policymakers, it's crucial to ensure that sustainability encompasses multifaceted dimensions beyond energy efficiency. This includes financial affordability, space standards, amenity space, and adherence to the Future Home Standard (FHS). Acknowledging the additional costs associated with FHS compliance, discussions must address how these investments translate into tangible benefits for homeowners and communities alike.

In essence, the Sustainable Homes Matrix meeting served as a catalyst for dialogue and collaboration, emphasising the imperative of collective action in fostering sustainable housing solutions. As stakeholders continue to navigate challenges and opportunities, the journey towards unlocking the full potential of sustainable homes promises to be both complex and rewarding.


New members the Green Infrastructure Consultancy (GIC) discuss how retrofitting green infrastructure into the existing fabric of a city is all too often overlooked. Tim Gardner from The GIC explores four ways this can be done.

The focus, by and large, is on including green infrastructure in new developments to meet planning requirements. Retrofitting, however, is possible and has the potential to deliver a range of benefits.

Green infrastructure plays a crucial role in creating sustainable and resilient communities and retrofitting green infrastructure to housing estates is essential for addressing the environmental challenges we face today. Here are reasons to implement this;

1. Mitigating Urban Heat Islands: One of the primary reasons for retrofitting green infrastructure is to address urban heat islands (the phenomenon where urban areas are hotter than the surrounding countryside). Housing estates, dominated by buildings and sealed surfaces , often suffer from excessive heat during the summer. . Adding green roofs, rain gardens and street trees can significantly reduce the temperature and create a more comfortable living environment for residents.

2. Managing Stormwater Runoff: Another important function for green infrastructure is managing stormwater runoff in housing estates. Conventional impermeable surfaces contribute to flooding and water pollution. Retrofitting with permeable pavements and rain gardens can help capture and filter rainwater, preventing it from overwhelming storm drains and improving water quality.

3. Enhancing Biodiversity: Retrofitting green infrastructure provides an opportunity to enhance biodiversity within housing estates. Planting with native species or species with a documented value for wildlife creates habitats for wildlife. This, in turn, benefits people, contributing to better air quality, reducing noise, encouraging outdoor activity and overall improving health and wellbeing..

4. Promoting Community Engagement and Social Cohesion: Green infrastructure retrofit projects offer a platform to engage and involve the community. Stakeholders, such as residents, local authorities, non-profit organisations, and businesses, should collaborate to ensure the success of these initiatives. By involving residents in planning, decision-making, and maintenance, a sense of ownership and social cohesion can be fostered, leading to more sustainable outcomes.

To make these retrofitting efforts successful, a range of stakeholders need to be involved. This could include residents, community representatives, schools, housing providers and developers, local government agencies, urban planners, landscape architects, environmental NGOs, and academic institutions. Collaboration among these stakeholders is crucial for securing funding, obtaining necessary permits, designing effective green infrastructure solutions, and ensuring long-term stewardship.You can read more about how we helped the London Borough of Hammersmith and Fulham in this case study. 

Are you planning to attend UKREiiF in May 2024? If so we invite you to join us as a partner in the Sustainable Growth Pavilion. We have a limited number of opportunities remaining, so read on.

As a partner in the Sustainable Growth Pavilion, you'll enjoy an unparalleled profile and exposure in a high footfall area. The pavilion location is strategically positioned to attract the right audience for your business. Plus, you'll benefit from promotional activities as part of the pavilion, increasing your visibility and potential reach as well as networking with the other partners.

You can read more here about what is included in each of our packages and look at the programme structure over the 3 days 21-23 May 2024.

Sustainable Growth Pavilion Partner
£40K only one remaining - limited to three
There is one remaining opportunity to join Sir Robert McAlpine, Sir Robert McAlpine Capital Ventures, and Prologis for this high-profile experience.

Session Partner / Tier One Sponsor
£20k – Only 4 available *ONLY 2 LEFT*

Panel partner (Tier Two Sponsor)
£10k – Only 2 available

Networking partner breakfast / afternoon drinks (Tier Two Plus)

£15k - Subject to availability Tues/Weds - refreshments included

If you're interested and want to learn more about these exciting partnership opportunities, please don't hesitate to reach out us to have a conversation about suitability and provide you with all the necessary details.

Don't wait too long, as these opportunities are filling up quickly!

Planning Portal is welcomed into the UK Business Council for Sustainable Development membership.

We are committed to attracting members from across value chains in the built environment, and the Planning Portal is providing us with a critical link to Planning and Planning data through this partnership.

Sarah Chilcott, Managing Director, says:

'We are thrilled to be a part of this esteemed group of leaders and innovators from the built environment sector who all share a common goal of creating a more sustainable future for all."

The UK planning process is crucial in supporting a more sustainable future for the built environment. Planning decisions can influence the type, location and design of new developments, which, in turn, can impact energy efficiency, carbon emissions and local wildlife habitats.

Our Chair Jason Longhurst comments,

"Planning Portal's involvement in UKREiiF, as part of their membership offer, provided a link to the wider components needed to create a more sustainable future, and make sure that we are seeing the whole picture when coming up with solutions."

By ensuring that sustainable principles are incorporated into planning policy and decisions, the UK can pave the way for a more environmentally-friendly and resilient built environment. Including these important planning considerations can lead to benefits such as improved air quality, increased biodiversity and reduced carbon footprint.

We are delighted to have Planning Portal on board.  Read more on their website.

Chris Skidmore MP has urged the UK to move "further and faster" in the global race to net zero - or risk falling behind.

Mr Skidmore, Chair of the Independent Government Review on Net Zero told an audience at the UKREiiF conference in Leeds: "This is the only game in town and the greatest economic opportunity of this decade if not this century.

"We risk falling behind. The cost of inaction is now so great.

"We are in a global net zero race where other countries recognise the opportunity not just of seeing net zero as a tool for tackling the climate crisis but seeing economic opportunity it provides."

Mr Skidmore, who was Minister of State for Universities, Science, Research when he signed the UK’s net zero pledge into law, published his Mission Zero report in January in which he warned politicians were failing to act quickly enough on the climate emergency.

His report contained 129 recommendations across key sectors including renewable energy, green finance, and the built environment.

Mr Skidmore was speaking today at the UK Business Council for Sustainable Development’s Beyond Net Zero pavilion on the third and final day of the conference.

He said it was vital to see net zero as "above all an opportunity" rather than a challenge, adding: "We need to move faster, we need to move further."

Mr Skidmore paid tribute to a new report, commissioned by UKBCSD, which found the UK could achieve £70bn of annual economic benefits by adopting an ambitious "beyond net zero" strategy.

The UK could become a net exporter of up to £17bn of clean energy every year, the report found.

"That is a fantastic vision to look at," said Mr Skidmore.

"But in order to achieve it we have to tackle barriers.

"We need to push further around ensuring net zero is mainstreamed into every institution, into our planning system, so that it becomes the new normal.

"We need a 'whole society' approach."

Mr Skidmore called for the UK to take a longer-term, more strategic approach to net zero, rather than planning around traditional government spending cycles.

And he said net zero could play a vital role in the levelling up agenda by placing "industries of the future [in places] that led the industries of the past".

In order do so, however, he said policy makers and industry had to take local communities with them on the journey.

"We can't simply impose net zero on communities that see it as threatening their way of lives," he said.

"We have to make the case: they will be warmer and richer through year-on-year savings."

Mr Skidmore warned against focusing only on the government's target of hitting net zero by 2050, warning it would fail to do so unless it took action now.

"The net zero clock is literally ticking," he said. "The consequences of delay will be that we fail."

Mr Skidmore said it was impossible for the UK to compete in a "subsidy war" with the USA.

But he said the UK could benefit from the USA's recent huge investments in clean technologies, through the Inflation Reduction Act - for example by exporting technologies and expertise.

"There is a real opportunity to create a green special relationship," he said.

The pavilion had earlier seen an early-morning keynote address by Caroline Norbury, CEO of Creative UK, on the importance of building investible, place-based and community-driven cities.

She spoke of the importance of creativity and how culture was central to everything that cities did.

The day's first panel session - chaired by Bradford Council leader Susan Hinchcliffe - featured Lorraine Cox, Creative Assets Manager of Creative Estuary; Simon Delahunty-Forrest, Assistant Director for Development Planning at Birmingham Council; and James Pitt, MD for Yorkshire and North East at Muse.

Mr Delahunty-Forrest said cities needed to be "bold" to bring in investment and make sure local communities felt involved and empowered to express their own creativity.

He said cities needed to continually evolve and adapt, adding: "If my city looks the same as it does today in five, ten, 15 years then we have failed."

The late-morning panel session focused on how Bradford was using culture as an economic driver after being named City of Culture for 2025.

The panel featured Kersten England, Chief Executive of Bradford Council; Dan Bates, Executive Director of Bradford 2025; Caroline Norbury; and Nicola Greenan, Head of Cultural Partnerships at Bradford Council.

Nicola Greenan explained that Bradford’s decision to bid to become UK City of Culture was part of their 10-year culture strategy which aims to create a long-term, sustainable cultural legacy for culture in Bradford.

Bradford also embedded the UN Sustainable Development Goals into their bid to become UK City of Culture for 2025.

As part of this they are going to invest into decarbonisation plans in the cultural sector.

A new report outlining how the UK could win a £70bn a year "prize" by leading the global charge to clean growth was launched at UKREiiF today.

The report, called "Sustainability Superpower" was commissioned by UKBCSD and written by former government economist Chris Walker. It was sponsored by industry partners Prologis and Inspired Plc.

The report presented two scenarios facing the UK: a "just enough" strategy in which it continued on its current course of near net zero by 2050, and a "beyond net zero" scenario in which it took the lead in the energy transition and maximised its potential in wind, solar, retrofit and other clean growth areas.

The "beyond net zero" strategy was forecast to bring £70bn in annual economic benefits, support 654,000 British jobs, and see the UK export £17bn of clean energy every year.

The report was launched by UKBCSD at the Beyond Net Zero pavilion on the second day of the UKREiiF conference in Leeds.

Speaking at the launch, Jason Longhurst, chairman of UKBCSD, said sustainable growth was now firmly in the economic and political mainstream.

"We have taken the language away from 'could we possibly deliver' and have started putting figures on it," he said. "We have gone beyond mere viability - it is now a competitive area and UK plc should be playing a role in that."

The pavilion also hosted a string of talks and panel sessions focused on innovation, opportunities, and challenges in "clean" construction.

The day began with a keynote address by Sir Andrew McAlpine.

That was followed by an early-morning panel session on understanding the total impact of projects in a net zero environment.

The session was introduced by Angela Blake, assistant director of Bradford Council, and featured Phil Hampshire and Anthony Davis, co-founders of 3ADAPT.

3ADAPT have been working with Keyland Developments on developing a model for "positive living".

The scheme involves better quantification to drive better, more sustainable growth in housing developments.

The mid-morning session - moderated by Chris Carr, chairman of the Federation of Master Builders - tackled issues around mainstreaming sustainable housing.

Panelists included Nigel Banks, R&D director at ilke Homes; Nicola Clayton, Business Development Director at Etopia Homes; and Sarah Chilcott, MD of Planning Portal.

The pre-lunch panel session focused on innovation. It was chaired by Professor Amir Sharif of the University of Bradford and featured Steve Gilley, Director of Infrastructure at the University of Bradford; Iain Jenkinson, Executive Director of Planning at CBRE; Stephanie Townley, partner at Addleshaw Goddard; and Joanne Hyde, Strategic Director for Corporate Resources at Bradford Council.

Introducing the session, Professor Sharif noted that Bradford was the leading university for providing AI programmes in the UK.

The afternoon began with a session asking how public and private sector partners could "pick up the pace" of change.

The panel consisted of Emma Harvey-Smith, Programme Director at the Green Finance Institute; Eleni Polychroniadou, co-founder of Sintali; Lydia Dutton of CBRE; David Willock, Managing Director for ESG and Finance at Lloyds Bank; and Anand Rajagopal of Phoenix Group.

Emma Harvey-Smith said: "The time for pure analysis has been and gone.

"We need to act now. We need to undertake actual projects. We needs innovative financial solutions, we need bankers to be speaking to their clients.

"You can't fatten a pig by weighing it."

David Willock stressed the need for flexibility, pointing out that different solutions were needed for different sectors.

He warned investors would have to adapt their attitude to risk appetite, adding that while there was "a lot of liquidity in the easy areas", it was other areas that needed investment.

Mr Rajagopal called for a more supportive regulatory system that allowed a more flexible investment approach among pension funds and insurers.

The final session, on building sustainable communities and creating value, looked at Springfield Village - the redevelopment of Springfield University Hospital. The site was a partnership between  Sir Robert McAlpine Capital Ventures and Kajima Partnerships and put world-class mental health facilities and well-being at the heart of a broader community, with a 32-acre park and 839 sustainable homes with a district heating system.