The Real Estate Developers Association of Nigeria (REDAN) has called on real estate developers to prioritize Environmental, Social, and Governance (ESG) principles to ensure environmental sustainability and enhance the quality of life for Nigerians.
REDAN President, Akintoye Adeoye, made this appeal at the presentation of the ESG framework for real estate developers, organized by REDAN’s ESG Committee in Lagos. He emphasized that climate change, social inequality, and governance challenges require urgent action from all sectors, including the housing industry.
“As urbanization accelerates, integrating ESG principles in real estate is essential to reducing environmental degradation, promoting community well-being, and fostering trust through transparent business practices,” Adeoye stated.
He highlighted that ESG is not merely about compliance but about creating lasting value for investors, developers, and communities. To this end, REDAN has established an ESG Committee tasked with developing frameworks, conducting audits, and engaging key stakeholders.
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Adeoye noted that REDAN has made significant strides in advancing sustainability in Nigeria’s real estate sector through:
Capacity-building programs – Training sessions to equip developers with knowledge and tools for sustainable practices.
Strategic partnerships – Collaborations with government agencies, financial institutions, and civil society organizations to amplify ESG adoption.
Benefits of ESG Adoption in Real Estate
According to Adeoye, embracing ESG principles offers multiple advantages:
- Developers – Improved reputation, risk management, increased property value, and enhanced market competitiveness.
- Homebuyers – Healthier living environments, reduced utility costs, and assurance of contributing to a sustainable future.
- Nigeria – Economic growth, urban poverty reduction, and positioning the country as a leader in sustainable real estate development in Africa.
The Chairman of REDAN ESG Committee, Olusola Enitan, outlined the three core pillars guiding the ESG initiative:
- Environmental Responsibility – Sustainable building practices, carbon footprint reduction, energy efficiency, and biodiversity conservation.
- Social Impact – Affordable housing, community engagement, and prioritization of health and safety standards.
- Governance Excellence – Transparency, anti-corruption measures, and fair competition in the real estate sector.
With ESG compliance gaining momentum worldwide, REDAN’s commitment to sustainable development is set to reshape Nigeria’s housing sector, ensuring long-term benefits for all stakeholders.
