Azora and CBRE Spain have launched the Climate Solutions Challenge, a European competition to identify leading companies specialised in the decarbonisation of real estate.
Applications will be accepted until Monday, December 11, and the winning project will be eligible to receive funding from Azora and work with both companies to boost its business development.
Azora and CBRE said that the aim of the Climate Solutions Challenge would be to identify leading companies that contribute to mitigating the environmental impact of real estate, increasing the adaptive capacity of urban ecosystems, and delivering a positive impact on society.
For this reason, Azora and CBRE are looking for companies that respond to key urban or energy challenges within the real estate sector through solutions such as energy efficiency, the use of renewable energy, waste management, sustainable mobility in urban areas, or smart building software, amongst others.
'The Climate Solutions Challenge is a direct route for leading European companies to access a unique business development opportunity in decarbonization by working with two of the most important companies in the Real Estate sector,' said Fernando Gómez Fortún, investment director at Azora.
European companies interested in participating in the Climate Solutions Challenge must have a customer base, demonstrated and proven technology and a viable business model.
The focus of the challenge is to identify leading companies in the lower middle market that have exhibited fast growth in recent years, and which generate an annual EBITDA of up to €10 mln.
The winner will be eligible for funding from Azora and will be able to collaborate with Azora and CBRE to boost its business development efforts.
'The incorporation of ESG factors into investment decisions is growing. At CBRE we have demonstrated the correlation between investments in sustainability and the creation of value in assets and with the Climate Solutions Challenge we hope to identify more innovative formulas with which to accelerate decarbonization and achieve a much more sustainable real estate sector.' said Patricia García de Ponga, head of ESG at CBRE Spain.
The collaboration between Azora and CBRE arises from the need to promote ESG investments and contribute to the decarbonisation of the Real Estate sector.
