ULIs Global Sustainability OutlookLaunched in 2021 by the Randall Lewis Center, it has become the organization's annual barometer on the sustainability issues shaping real estate and land use. Each year, the report synthesizes insights from global industry leaders to identify the key themes most likely to influence strategic decision-making in the coming year and beyond. The first report in 2021 included ten key topics, and in subsequent years ULI has refined the focus to the five most important topics. Read previous reports Here.
From lofty climate goals to grim regulatory and political realities, the global outlook for sustainability reflects the long-term shift underway across the industry, bringing with it a growing skepticism of buzzwords and a greater respect for concrete action. So what has endured, what has evolved and what has faded?
This graphic illustrates how the themes of the Global Sustainability Outlook have evolved, repeated and changed over the last five years. Each column lists the key themes of this year's Global Sustainability Outlook report. Some themes emerged year after year, particularly decarbonization and resilience. Others emerged in 2021 and re-emerged later, such as human-centered sustainability, decarbonization of entire buildings, and energy. Reporting and regulation were at the forefront of the Global Sustainability Outlook reports from 2022 to 2024, while water slipped under the radar. Read the upcoming 2026 report in January to see what the top priorities are.
(Adam Giordano and Melissa Goodwin)
Advancement to action
Despite the changing political and economic landscape, unshakable imperatives remained. ESG (environmental, social, governance) may not be mentioned as much in 2025, but its cornerstones still form the basis of business strategy and risk management – with environmental performance at the forefront. The focus is on decarbonization, one of the most pressing ESG dimensions. While in previous years there was a focus on setting ambitious net zero targets and ESG investments, in 2022 to 2024 there was a greater focus on reporting and regulation, when facilitating decarbonization became the top priority.
The ESG forecast for 2025 predicted an industry focused on simplifying and implementing practical solutions. Implementability and scalability became critical – solutions that needed to span across asset classes, geographies and portfolios if they were to embark on the path to a sustainable future.
Building materials have also been in focus over the years, first appearing on the market in 2021 and re-entering the market in 2025, largely because embodied carbon – the emissions from the extraction, manufacturing and transportation of materials – can represent a significant portion of a building's overall carbon footprint. Between 2021 and 2022, reports highlighted the importance of tracking and reducing these emissions. Now the focus has increased, driven by improved data and growing pressure to reduce Scope 3 emissions. This shift highlights a broader perspective: sustainability in buildings now takes the entire life cycle into account, with the choice of materials playing a crucial role in achieving climate goals.
Although decarbonization is often at the forefront of sustainability goals, it is not alone. Reducing operational and embodied emissions is only part of the equation. The sector also needs to be prepared for the physical risks posed by climate change. Therefore, resilience remains an important factor that is one of the industry's top priorities every year Global Sustainability Outlook. From wildfires in California to floods in Bangladesh, climate disasters have worsened around the world, and climate risks are no longer abstract predictions but an urgent reality. To protect both buildings and the people in them, the industry has moved from simply identifying vulnerabilities to actively developing solutions and seeking funding for them.
One of the things we are seeing is extreme weather conditions affecting the resilience of most networks. For example, we experience shutdowns due to wind events. There is therefore an increased focus on investing in resilience. Suddenly energy storage becomes a very real issue. But each location has its own specific risks and opportunities. Detailed analysis is required to determine the best course of action to strengthen resilience worldwide.
Peter Tomai, Partner and Chief Investment Officer, Specific Performance Inc. ULI Global Sustainability Outlook 2024
As of 2021, people-centered sustainability remains the focus, but the discussion has evolved. Beyond tenant satisfaction and productivity, the focus is now on holistic health and human-centered design, recognizing that comfort, mental well-being and air quality are not luxuries but essentials.
Changing trends, lasting meaning
The same approach extends to social justice. While stocks have been highlighted as a standalone theme in 2021, recent reports are increasingly integrating them into the industry's broader sustainability strategies. These global priorities must ultimately be realized at the local level and address the needs of marginalized communities, particularly in the Global South, who face the greatest physical and transition risks despite contributing the least to global emissions.
Other issues that were once in the spotlight have also seen changes in the way they are dealt with. Water, an issue in 2021, has received less explicit attention in recent reports, likely because it was needed less ongoing investments compared to decarbonization, flood protection and the like.
Grid interactivity gained attention in 2021 as a potential driver of energy efficiency and resilience, but has not yet been deployed at scale globally. Its presence in recent discussions has become part of broader conversations about responding to increasingly volatile energy prices, with an increasing focus on green power procurement and storage in 2025. New technologies in particular continue to gain in importance. The rise of AI and the resulting growth of data centers have made digital infrastructure and network considerations crucial to the future.
Collaboration was a key theme in 2023. From tenant engagement to climate resilience, collaboration is anchored across topics, even if it doesn't appear to be a clear trend. This development reflects a more mature understanding of collaboration as a fundamental competency rather than a stand-alone initiative. Many experts continue to emphasize the importance of partnerships between stakeholders to achieve meaningful impact, emphasizing that collaboration is ongoing and necessary.
We're just getting started. This is our opportunity to pool capital, build partnerships and cross-market relationships to further drive innovation.
Julie Hiromoto, Partner and Integration Director, HKS ULI Global Sustainability Outlook 2025
Looking ahead
Overall, these changes illustrate how some aspects of sustainability have become established elements of real estate practice, while newer strategies are still being developed.
It's clear that the industry is shifting from aspiration to action, with a greater focus on practical, scalable solutions. Looking to the future, the ULI is excited to see what topics will determine this Global Sustainability Outlook 2026which is scheduled to appear in January 2026. Will new technologies, policies or market forces be the focus? Or will ongoing challenges such as decarbonization and resilience continue to dominate? Stay tuned for the ULI report and introductory webinars in early 2026.