The Real Estate Developers Association of Nigeria (REDAN) has asked developers across the country to prioritise the Environmental, Social, and Governance (ESG) principles in their projects.
REDAN President, Akintoye Adeoye, said the move is part of the association’s drive to promote and institutionalise the ESG principles within the sector.
Adeoye while speaking with newsmen in Lagos said the need to embrace the ESG principles comes with an obligation to ensure that “our developments are environmentally friendly, socially inclusive, and governed ethically.”
According to him, climate change, social inequality, and governance challenges demand urgent action from all sectors, including that of the developers.
He said “In Nigeria, where urbanization continues to accelerate, the need for sustainable practices in real estate has never been more pressing.”
The President said by adopting the ESG principles, developers can reduce environmental degradation and contribute to national climate goals.
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He added that prioritising ESG principles would also help build equitable societies by promoting affordable housing, fostering community engagement, and enhancing well-being.
“In short, ESG is not just about compliance or ticking boxes—it is about creating lasting value for everyone involved in the real estate ecosystem,” he said.
Adeoye said the REDAN having recognised the importance of the principles, had established the ESG Committee under the leadership of Otunba Olusola Enitan, saying the committee has been instrumental in driving the ESG agenda, developing frameworks, conducting audits, and engaging stakeholders across the board.
Under the committee’s guidance, he said the association has created the Nigerian Real Estate ESG Handbook, which provides practical guidance for integrating ESG into real estate projects.
He said the committee has also helped drive capacity-building programs for members and partnerships with government agencies, financial institutions, and civil society organizations to amplify the impact of our efforts.
He said “For developers, embracing ESG principles offers clear advantages: enhanced reputation, improved risk management, increased property values, and greater market competitiveness. For homebuyers, it means healthier living environments, lower utility bills, and peace of mind knowing they are contributing to a sustainable future.
“For the nation, it means fostering economic growth, reducing urban poverty, and positioning Nigeria as a leader in sustainable development on the African continent.
“I call upon all real estate developers across the federation to join us in this transformative journey. Let us commit to making ESG an integral part of every project we undertake. Together, we can build a future where every development enhances the quality of life for Nigerians while safeguarding our shared environment,” the President said.
Corroborating the President’s views, Enitan stated that in an era marked by climate change, social inequality, and governance challenges, the integration of ESG principles has become a strategic necessity—not just for compliance but for long-term success.
He said: “For the Nigerian real estate sector, embracing ESG means, reducing environmental footprints while promoting energy efficiency and biodiversity conservation.
Others are Enhancing social inclusion through affordable housing, community engagement, and equitable practices while
strengthening governance frameworks to ensure transparency, accountability, and ethical business conduct.
According to him these principles not only align with global standards but also position us as leaders in sustainable development across Africa.
On the benefits and opportunities of ESG Adoption, he said: “For developers, adopting ESG principles offers tangible benefits such as enhanced reputation and brand value, attracting socially conscious investors and tenants and Increased property values and market competitiveness driven by innovative, sustainable designs”.
“For homebuyers ESG-driven projects mean healthier living environments, reduced utility costs, and peace of mind knowing they contribute to societal and environmental progress”.
He urged all real estate developers across the federation to prioritize ESG principles in their projects to ensure that every development enhance the quality of life for Nigerians while safeguarding our shared environment.
Enitan noted that adoption of the ESG principles will enhance social inclusion through affordable housing, community engagement, and equitable practices.
“ESG-driven projects mean healthier living environments, reduced utility costs, and peace of mind knowing they contribute to societal and environmental progress,” he said.
He explained that his committee on the scope of it works focused on three core pillars which include environmental, social and governance.