La Financiarisation De I'Immobilier Et La Durabilite Paperback

Thierry Theurillat

To what extent do Swiss pension funds take sustainable development criteria into account in their practices? To answer this question, it is necessary to consider the context of financialization of the economy. Two real estate investment circuits are to be distinguished. In the first direct channel, the caisses act as entrepreneurs and investors, the investments are regional and are evaluated according to caisse-specific terms and conditions. In this context, the consideration of sustainability criteria is the responsibility of the Caisse's governing bodies. In the second financialized circuit, the caisses behave only as investors. As a result, there is a functional and spatial distance between pension funds and objects and places of investment. All decisions on sustainability aspects are left to the specialized financial institutions. Investment valuations are based on financial performance, risk and liquidity criteria, and preferred investment regions are the major urban areas of the country.

9786131536878

French

Omniscriptum

136