Breaking Property News – 15/09/2023
Daily bite-sized proptech and property news in partnership with Proptech-X.
Where does Blackrock stand on ESG?
For several months Blackrock has been seen to be embattled with many of its investment strategies seen as being at odds with the now polarising call for ESG. Whilst it is logical with the management of so many assets across numerous verticals, there is likely to be clashes between core needs of these industries to execute and the need to save the planet it looks like the CEO Fink is having to be more decisive.
As far back as a year ago Blackrock which manages over $8.59 worth of assets, was seen to be reigning in its overall ESG strategy, balancing it against the needs of stakeholders wanting financial returns, but now it seems that its present stance on Glencore the huge mining conglomerate, it is now nailing its colours to the mast.
As reported in CITY.AM, by Charlie Conchie, ‘Blackrock has criticised “inconsistencies” in the climate policy of mining giant Glencore and voted against the firm’s green strategy at its annual general meeting earlier this year, according to new filings. The world’s biggest asset manager, the third biggest shareholder in Glencore with a stake worth some $9bn, was among a host of investors to reject Glencore’s climate policy at its shareholder gathering in May.
“While the UK-listed mining company has improved their disclosure of climate-related risks and opportunities and has continued to deliver on their Climate Action Transition Plan, BIS is concerned that aspects of the report and recent developments have pointed to inconsistencies in the company’s stated strategy,” Blackrock said in its stewardship report.
Cakebot helps with lease management
PRESS RELEASE – Leasecake, a leading provider of lease management software, is proud to announce the launch of its ground-breaking new tool, Cakebot: Approachable AI for Lease Management. Featuring both a Lease Chatbot and Lease Clause Summarization, this new offering is set to redefine how business owners and operators navigate the complexities of lease agreements, streamlining processes and empowering users with newfound efficiency.
Lease agreements have long been notorious for their intricate and lengthy language, often posing challenges for tenants. Deciphering these documents requires intensive analysis, especially for real estate and accounting experts who aren’t legal specialists. But, Leasecake’s Cakebot is here to transform the game.
Leasecake is harnessing the power of large language models (LLMs) to simplify the leasing process. Users can ask Cakebot questions about their lease and get quick answers. The AI-powered tool analyses and extracts vital information from even the most complex agreements and provides assistance on lease related questions. In addition, it offers concise, easy-to-understand summaries of otherwise complex legal critical clauses.
Facilio – examines the automation of Facilities Management
Prabhu Ramachandran is the CEO & Co-founder of proptech company Facilio Inc. which offers cloud software solutions to manage the built environment. Headquartered in New York City with offices in Dubai, London, Chennai, Australia & Singapore, Facilio is a global company backed by leading investors including Accel Partners, Tiger Global Management, Dragoneer Investment, and Brookfield.
Here Prabhu gives his thoughts and oversight on the changing landscape of facility management as it moves from analogue to digital,
‘Remember when IT was a humble back office function, typically depicted in movies and TV as the team that sits in a dark and dingy basement office covered in wires and servers? Something changed the face of IT, which was essentially a back-office accounting resource, and what it meant to a company–bringing it from the basement to the executive’s table, transforming it from a cost centre to a strategic lever.
The thing that changed was technology, advances facilitated the digitization of core business processes like financial asset management, accounting, order processing, production scheduling, and more, proving the ability of IT to align with strategic business objectives and significantly impact costs and capability.
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