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Newmark Expert Contributes to Online Article Highlighting Role of ESG for Site Selection Amid COVID-
Newmark Senior Managing Director, Gregg Wassmansdorf recently contributed to an online article from Chemicals Technology titled
ESG comes to the fore amid COVID-19 crisis. The article explains that more and more companies are “embracing more stringent environmental, social, and governance (ESG) policies” to “market themselves as safe and attractive” after the business disruption from COVID-19. Mr. Wassmansdorf believes these policies will play an increasing role in site selection as well but there are trade-offs.
Excerpt below.
“Site selection is an area where the incorporation of ESG will play an increasingly significant role, especially as companies look to recover financially from the Covid-19 crisis. However, there are trade-offs to keep in mind.
Gregg Wassmansdorf, senior managing director in global strategy consulting at Newmark, says he is hopeful that companies will use the current situation to make business, property and facility location decisions that create more alignment across the objectives and functions of the business. This includes social and environmental considerations.
However, Wassmansdorf acknowledges that near-term essential challenges include personal health and safety, rebuilding revenue, restoring credit-worthiness and re-establishing investor confidence. At the same time, he argues that longer-term strategic goals can now be addressed to transform business operations and more fully incorporate the ESG factors that were top of mind for many investors, business leaders and customers before the crisis.”
Read the full article titled ESG comes to the fore amid COVID-19 crisis.