Low-carbon large-scale renovations of housing stock: what it takes to interest Dutch investors

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2018-08-29
Language
en
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Abstract
The study ultimately aims to explore conditions that would enable Dutch large investors - pension funds - to invest in making Dutch housing stock more energy efficient through low-carbon/deep renovation. The model of the new practice creation enables to search for such conditions. The exploration is firstly focused on pension funds and the pressures influencing them. Secondly, the legislation affecting the energy efficiency and the state of housing itself are explored. Eventually, a non-exhaustive list of conditions stem from the initial research of literature and pension funds’ annual reports that are followed by experts’ interviews. The conditions under which Dutch pension fund investors would change their practice and invest in deep renovations of Dutch housing are identified. The investable size is one of them: the pension funds can invest only in larger projects so the bundling of individual renovations is needed. Furthermore, investors need transparency and credibility from the parties performing the renovations, hence it enables calculating investors’ risks and returns. The conditions related to monetary, legal and valuation mechanism are raised too. The conditions bridge the gap in knowledge of stakeholders in the deep renovation chain, their hurdles, requirements and laid the foundation for further research.
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Faculteit der Managementwetenschappen