1d ago

The One With… the Aerospace Engineer who spotted Real Estate's broken system — and built a firm to fix it

This episode is sponsored by MapMortar - the capital planning management tool that turns portfolio risk from a spreadsheet headache into a boardroom-ready capital plan in around 50% of the time and cost. Check out ⁠⁠https://mapmortar.io⁠ Basil Demeroutis founded FORE Partnership in 2012 with one conviction: sustainability and financial performance aren't in tension — the industry just built a system that treats them as if they are. Trained as an aerospace engineer at Cornell and shaped by years managing the real estate portfolio of Jeff Skoll's family office, Basil thinks in systems. And the system, he argues, is broken — not just the buildings, but the procurement, the capital allocation, and the culture that produced them. This episode goes deep on what innovation in real estate actually looks like in practice. At TBC.London, FORE tracked 2 million components from 565 suppliers. At One Poultry, they partnered with Breakthrough Energy and UKGBC to build a Commercial Retrofit Innovation Map — 160 points of intervention, 100+ products evaluated, 16 adopted — to stop good ideas dying at RIBA Stage 3. And at CADWorks Glasgow, switching to all-electric mid-build didn't cost more. It saved £200,000. Key timestamps [00:04:00] - From Cornell aerospace engineering to Jeff Skoll's family office to founding FORE[00:09:00] - What surprised Basil most when moving from advisor to principal investor[00:12:00] - TBC.London: 2 million components, 565 suppliers — the supply chain reality of a single retrofit[00:17:00] - "No one's ever asked me that" — the leadership failure slowing real estate innovation[00:19:30] - Introducing the Innovation Map: 160 points of intervention[00:21:30] - How the FORE, Breakthrough Energy and UKGBC partnership at One Poultry came about[00:25:00] - Bacteria-fired tiles from a North Carolina cave — backing early-stage material science[00:32:00] - The 3% problem: climate VC targeting 38% of global emissions[00:37:30] - How going all-electric mid-build saved £200,000 at CADWorks Glasgow[00:34:00] - Innovation for innovation's sake is just theatre[00:44:30] - What problem Basil is trying to solve right now[00:46:00] - Policy asks: VAT harmonisation for retrofit and the case for carbon pricing Organisations mentioned:FORE Partnership, MORE, Breakthrough Energy, UKGBC, Capricorn Investment Group, Skoll Foundation, 2150, MapMortar, Q Flow, KKR, Sage Group, Stiff + Trevillion Architects, McKinsey, Gallup What you'll learn aboutRetrofit-first investment strategy, Commercial Retrofit Innovation Map, procurement and innovation adoption, supply chain complexity in deep retrofit, climate capital misallocation, the green premium myth, VAT and carbon pricing policy The Future We Build is a podcast exploring sustainability, innovation and systemic change in the built environment, hosted by Alex Edds. New episodes released weekly.Filmed at Podcast RoomsProduced by Atalor. Follow the showLinkedIn: https://www.linkedin.com/company/the-future-we-buildApple Podcasts: https://podcasts.apple.com/us/podcast/the-future-we-build/id1877617346 Connect with AlexLinkedIn: https://www.linkedin.com/in/alexedds More about our guestsConnect with Basil Demeroutis: https://www.linkedin.com/in/basil-demeroutisFORE Partnership: https://www.forepartnership.com

Aug 12

The One With... the Engineer Turned AI Innovator and the 300-Year-Old Estate — Ranjeet Bhalerao & Simon Tranter

This episode is sponsored by MapMortar - the capital planning management tool that turns portfolio risk from a spreadsheet headache into a boardroom-ready capital plan in around 50% of the time and cost. Check out ⁠https://mapmortar.io Ranjeet Bhalerao left his consultancy job after a £100k study could model just 5 of 300 buildings. He founded MapMortar.io to fix that. Simon Tranter has to decarbonise nearly 900 mostly-listed buildings across Marylebone by 2040 — and he's the one actually using the tool. One sells the fix. The other tests it in the real world. Alex has never used it, so he asks the awkward question: does AI-led retrofit planning change what actually gets built — or just produce a better-looking version of the problem? In this episode:→ Why "stop counting, start cutting" is the whole argument→ The £100k study that modelled 5 of 300 buildings — and started a company→ Why no landlord wants another dashboard: "outcomes, not software"→ Modelling a building from just its address: maps, LIDAR, EPC data→ The head-to-head — AI model vs on-site consultant survey. How close?→ EPCs as a milestone, not a destination→ Sequencing retrofit to tenancy and refinancing — when sustainability is just asset management Timestamps:[00:02:00] The decision dies in the meeting, not the modelling[00:03:00] "I've never used it — but Simon has." Why this isn't a pitch[00:09:00] From the Battersea Power Station retrofit to founder[00:11:30] The £100k study that could model only 5 of 300 buildings[00:16:30] "No landlord wants another software" — outcomes over dashboards[00:20:30] 14 prized assets surveyed — and why it won't scale to 900[00:39:30] Building a model from just an address: maps, LIDAR, EPC, GIS[00:42:30] AI vs the on-site consultant: results "came out very comparably"[01:00:00] Timing a boiler to a lease — and winning better refinancing rates[01:02:30] Buildings as products, and the one thing each would change Organisations mentioned:MapMortar, The Howard de Walden Estate, Arup, BuroHappold, Battersea Power Station, British Land, Imperial College London, Carbon13, University of Cambridge, UCL, IES, WSP, Max Fordham, CBRE, Climate Change Committee, Property Week, Yardi, CQuel. More about our guests:Ranjeet Bhalerao: https://www.linkedin.com/in/ranjeet-bhalerao-5a549617MapMortar: https://mapmortar.ioSimon Tranter: https://www.linkedin.com/in/simon-tranter-25814439Howard de Walden Estate: https://www.hdwe.co.uk Follow the show:🔗 LinkedIn: https://www.linkedin.com/company/the-future-we-buildConnect with Alex:LinkedIn: https://www.linkedin.com/in/alexedds Recorded at Podcast Rooms, 17 Hanover Square, London. Edited by Atalor. New episodes weekly.

Aug 5

The One With... the Team Who Mapped Every Barrier to Scaling Sustainability in Real Estate — UKGBC

This episode is sponsored by MapMortar - the capital planning management tool that turns portfolio risk from a spreadsheet headache into a boardroom-ready capital plan in around 50% of the time and cost. Check out https://mapmortar.io — The built environment doesn't have an innovation problem. It has a scaling problem. Emily-Rose Garnett and Philippa Birch-Wood of the UK Green Building Council authored the report mapping why sustainable solutions in real estate keep dying in pilot. Alex — who once ran innovation inside a major property firm — recognised every barrier in it. The solutions we need mostly already exist. The problem is systemic, not technical: risk-averse cultures, a certification catch-22 that starves materials innovators, and pilots never designed to scale. In this episode:→ Why the sector's problem is scaling and adoption, not a lack of ideas→ The certification catch-22 blocking low-carbon materials→ The funding gap that kills hardware innovators between pilot and manufacture→ Demand aggregation, collaborative pilots and collective insetting as fixes→ Who should lead — developers, the big advisory firms, or networks→ Whether the AI budget scramble is slowing everything else down Timestamps:[00:05:00] Not short of solutions — short of scaling[00:07:00] The seven barrier categories[00:11:00] The vicious circle blocking materials innovation[00:16:00] Demand aggregation and low-carbon concrete[00:18:00] The real pace of change in real estate[00:22:00] 20 years in real estate and never meeting[00:33:00] Where do JLL and CBRE actually sit?[00:41:00] Dropping "positive disruptors" into design teams[00:52:00] How AI budgets slow every other decision[01:01:00] Magic wand: consistency and sharing what fails Organisations Mentioned UK Green Building Council (UKGBC) Innovate UK ESBEM — Emergent Sustainable Built Environment Materials innovation network Accelerating Concrete Decarbonisation Group FORE Partnership Breakthrough Energy 2150 JLL CBRE Cushman & Wakefield LaSalle Investment Management MapMortar (episode sponsor) Reports & Tools Mentioned Scaling Sustainable Solutions for the Built Environment: Barriers & Enablers (UKGBC)Commercial Retrofit Innovation Map (UKGBC)UKGBC Solutions & Innovation Advisory GroupInnovate UK ESBEM UKGBC Solutions Library The Future We Build is a podcast exploring sustainability, innovation and systemic change in the built environment, hosted by Alex Edds. New episodes released weekly. Recorded at Podcast Rooms. With thanks to the production team at Atalor. Follow the Show and connect with Alex LinkedIn: https://www.linkedin.com/company/the-future-we-buildLinkedIn: https://www.linkedin.com/in/alexedds More About Our Guests Emily-Rose Garnett — Senior Advisor, Solutions & Innovation, UKGBC. LinkedIn: linkedin.com/in/emily-rose-garnett-381943109Philippa Birch-Wood — Head of Climate Action, UKGBC. Profile: ukgbc.org/our-teamOrganisation: UK Green Building Council — ukgbc.org

Jul 29

The One With... the QS Who Went All In On AI

If AI has only made us 20% faster in five years, James Garner calls that abject failure. Everyone in the built environment is talking about AI. Very little of that conversation is about what people are actually doing with it today. James Garner has spent 20 years as a quantity surveyor and now leads AI and data at Gleeds. He sits on the RICS panel that wrote the profession's new AI standard, and hosts Project Flux. This conversation is about practice, not projection — where AI is genuinely changing decisions, and where the industry is quietly kidding itself. In this episode: → Why the real picture of AI adoption is "jagged" — brilliant and broken inside the same firm→ The capability gap: everyone has the tools, almost nobody has the skill→ Why shaving 20% off a process misses the point entirely→ Cutting 10% off a building's carbon vs asking whether you need the building at all→ The RICS AI standard, broken into four plain-English parts→ Where your agency actually sits when frontier labs are becoming empires→ A half-hour exercise anyone can do today to make better decisions Timestamps: [00:01:00] Twenty years a QS — and a 1990s dissertation on digitising construction[00:05:00] How a friendship at Imperial College produced his first machine learning model[00:09:00] Where AI is genuinely working right now — and why there is no gold standard[00:17:00] The capability gap, and the risk of a two-tier industry[00:26:00] Susskind's question, the drill and the hole in the wall[00:28:00] Procurement, beauty parades, and buying car insurance before the internet[00:37:00] Why technology was never the bottleneck — culture was[00:41:00] Wrong decisions made early, then defended for a decade[00:45:00] Build your own AI board of advisors — the half-hour exercise[00:47:00] The RICS AI standard: literacy, governance, use, and bias[00:55:00] Closing questions: education, and ripping up the curriculum The Future We Build is a podcast exploring sustainability, innovation and systemic change in the built environment, hosted by Alex Edds. New episodes released weekly. Filmed at Mute showroom, Great Sutton Street, London. Produced by the team at Atalor FOLLOW THE SHOW 🎧 Apple Podcasts: https://podcasts.apple.com/us/podcast/the-future-we-build/id1877617346🔗 LinkedIn: https://www.linkedin.com/company/the-future-we-build CONNECT WITH ALEX 🔗 LinkedIn: https://www.linkedin.com/in/alexedds MORE ABOUT OUR GUEST James Garner, Senior Director and Global Head of AI and Data, Gleeds🔗 LinkedIn: https://www.linkedin.com/in/jamesgarner1976🌐 Gleeds: https://www.gleeds.com🌐 Project Flux: https://projectflux.ai

Jul 22

The one with... the Housebuilder Seeking To Decarbonise 8500 Homes A Year

Bellway builds around 8,500 homes a year — and a large share of its carbon footprint comes not from construction, but from the homes people live in after they buy them. Jamie Bursnell, Group Head of Technical and Innovation at Bellway Homes, has spent years working out how you actually decarbonise a new home at scale. His conclusions upend a few assumptions. The gas boiler won't be banned — the compliance tool will simply make it impossible to build with. And the hardest problem isn't technology, it's pricing: with electricity roughly three times the cost of gas, the greener home can cost more to run, and no politician wants to move that cost. In this episode:→ Why the end product, not the process, is where real estate must innovate→ How the Future Homes Standard ends the gas boiler without banning it→ The Energy House: testing a full home in a climate chamber→ What the heat pump research revealed: more is less→ Why electricity at 3x the price of gas is the real barrier→ How batteries and smart charging change the maths→ Embodied carbon, timber frame, and why bricklayers matter Timestamps:[00:01:00] Why house builders are the closest thing real estate has to a product[00:02:00] Bellway's scale, and its two drivers for innovation[00:03:00] The Future Homes Standard and the end of the gas boiler[00:11:00] Why not build somewhere to test and iterate the product[00:12:00] The Energy House opportunity — a home you can experiment on[00:16:00] The heat pump lesson: fewer pumps, simpler controls, more is less[00:21:00] Electricity at three times the cost of gas — the core problem[00:26:00] Smart charging, batteries and running cycles on free solar[00:34:00] Embodied carbon: 35 tonnes in a typical home, and timber frame[00:43:00] Why bricklayers didn't enjoy the low-carbon bricks[00:45:00] The magic-wand fix: invert the cost of gas and electricity The Future We Build is a podcast exploring sustainability, innovation and systemic change in the built environment, hosted by Alex Edds. New episodes weekly, filmed at Mute showroom, Great Sutton Street, London. 🔗 Show LinkedIn: https://www.linkedin.com/company/the-future-we-build Connect with Alex✉️ alex@thefuturewebuildpodcast.com🔗 https://www.linkedin.com/in/alexedds

Jul 15

The One With... The Investor Who Switched Sides To Run The Climate Standard For Real Estate

CRREM tells real estate investors whether their assets are Paris-aligned or heading for stranding risk. Andrea Palmer is one year into the role as CRREM's first CEO — appointed after leading ESG integration for PGGM's global listed real estate portfolio, where she was pricing climate risk into valuations before most of the industry was paying attention. She previously worked at LaSalle Investment Management, GRESB, and Triodos. In this conversation she draws a hard line between two ways the industry uses CRREM — and argues that collapsing them is where the confusion starts. The first is transition risk assessment: understanding exposure, pricing it, and deciding whether to mitigate, accept, or get paid for it. The second is portfolio climate alignment — a different intent that can be achieved through capital reallocation without any CapEx. Andrea also addresses whether grid decarbonisation gives asset owners a free pass, reveals methodology assumptions being retired, and explains the deliberate strategy to embed CRREM into existing tech platforms rather than building a standalone tool. Key timestamps [00:00:00] Andrea's path from Chicago to Amsterdam via LaSalle and GRESB [00:06:00] How she approached CRREM — and what the first year has been like [00:13:00] The two buckets: transition risk assessment vs climate alignment [00:21:00] Grid decarbonisation assumptions baked into CRREM — policies not targets [00:25:00] Top-down pathways vs bottom-up asset reality — the pizza oven problem [00:36:00] Expanding to climate zone pathways for the US and Australia [00:39:30] Data centres: why they need an entirely new methodology [00:42:30] London Climate Week — Technical Council and the 0.8 version of CRREM's 2030 vision [00:48:00] Hong Kong — self-organised data sharing and the open contribution model [00:50:30] The one-to-many strategy and why Andrea doesn't want another login [00:54:30] Embodied carbon — relevant but not ready [00:57:00] Magic wand: data sharing across the board [01:00:00] Education at LP and banking level — the critical missing piece Organizations mentioned CRREM Foundation PGGM / PFZW LaSalle Investment Management GRESB Triodos Investment Management EPRA Norges Bank Investment Management (NBIM) U.S. Green Building Council (USGBC) APG Asset Management International Energy Agency (IEA) CBRE The Future We Build is a podcast exploring sustainability, innovation and systemic change in the built environment, hosted by Alex Edds. New episodes released weekly. Filmed at Obolife showroom, 8 Goswell Road, London - with thanks to Gary Helm Post production by Atalor Follow the show LinkedIn: The Future We Build Connect with Alex Connect on LinkedIn More about our guest Connect with Andrea Palmer on LinkedIn CRREM Foundation: https://crrem.org

Jul 8

The One With... the World’s First Green Bond in Real Estate — Anna Denell, Vasakronan

Anna Denell is the Chief Sustainability Officer at Vasakronan, a Swedish office real estate company managing 2.4 million square metres across Stockholm, Gothenburg, and Sweden’s other major cities. Owned by three state-controlled pension funds, Vasakronan has been embedding sustainability into its business model since 2008 — nearly two decades before it became a regulatory expectation for most European operators. What listeners come away with is a rare thing: a long-run case study where the financial and sustainability arguments genuinely converge, built on 15 years of integrated, audited reporting. Anna also lands a pointed critique of the EU’s CSRD rollback — arguing that one word change in the omnibus legislation has inadvertently exempted nearly the entire European real estate market from the reporting obligations that were beginning to drive real capital allocation change. [00:00:00] Welcome from Milan: recording live at GBCI, what prompted Alex to seek out a Scandinavian voice[00:01:00] The shift from strategy-setting to execution in real estate sustainability — and why the language is changing[00:03:00] The 2008 origin story: a major Swedish real estate merger and sustainability as the cultural binder between two organisations[00:03:30] Owner mandate: pension fund owners demanding returns without burden on environment or society[00:06:00] Integrated non-financial reporting: 16 years of GRI reports, 10 years of audited accounts, CSRD-ready before it was required[00:07:00] The 2008 energy target: 50% below industry average — achieved in eight years, then set again[00:08:00] Scope 1 & 2 emissions down 90%: what drove it (reduction + renewable transition) and where they are now[00:08:00] Embodied carbon: Vasakronan was calculating and reporting it ten years ago — “nobody at that time was talking about it”[00:10:00] The financial proof: why reducing environmental impact and improving profitability are not in tension[00:10:00] Energy included in rent: the Nordic landlord model, how costs and incentives are structured differently from the UK[00:12:00] Why green buildings attract tenants, extend leases, and narrow yield spreads — the evidence base [00:12:30] 2013: Vasakronan issues the world’s first corporate green bond. Overnight: investor interest triples [00:14:00] The magic wand: the EU’s CSRD omnibus mistake and why “and” vs “or” in the threshold criteria changes everything [00:16:00] What debt investors actually want from sustainability data — and why building certification counts are the wrong answer Companies & organisations mentioned VasakronanAP GBCI (Global Building Certification Institute — event host, Milan) LEED (referenced in closing exchange re: certification vs impact data) CSRD — EU Corporate Sustainability Reporting Directive GRI — Global Reporting Initiative (Vasakronan used for 16 years, audited for 10) EPBD — Energy Performance of Buildings Directive (provides national LCA definitions for embodied carbon) LCA (Life Cycle Assessment) — methodology used for embodied carbon calculation The Future We Build is a podcast exploring sustainability, innovation and systemic change in the built environment, hosted by Alex Edds. New episodes released weekly. Filmed on location at GBCI Circle, Milan. Follow the Show LinkedIn: https://www.linkedin.com/company/the-future-we-build Apple Podcasts: https://podcasts.apple.com/us/podcast/the-future-we-build/id1877617346 Connect with AlexLinkedIn: https://www.linkedin.com/in/alexedds More About Our GuestAnna Denell on LinkedIn: https://www.linkedin.com/in/annadenell/ Vasakronan: https://vasakronan.se/en

Jul 1

The One With... The Sustainability Valuer - There's No Such Thing As a Green Premium

Sam Carson leads sustainability within CBRE’s Valuations practice — a role that sits entirely separate from the firm’s sustainability function, by design. After fifteen years in consultancy, Sam joined CBRE to solve the question the sector had been dancing around for years: what does sustainability actually do to value? It’s a question that turns out to be harder than it sounds, and far more consequential than most people appreciate. Key Timestamps [00:00:00] Sam’s background: 15 years in sustainability consultancy, and the “value problem” that nobody could answer — what does sustainability actually do to the numbers? [00:02:27] Why Sam’s role sits inside CBRE Valuations, not the sustainability function [00:04:52] The case for sustainability professionals embedding inside real estate business lines rather than sustainability teams [00:07:19] The coming market cycle: why the period of low transactions is the moment to stake your ground on what sustainability does next [00:09:33] What a valuer actually does — valuing cash flows assigned to buildings, not buildings themselves [00:11:59] Why sustainability improvements often don’t show up in valuations [00:14:26] “Prime is green”: why preserving the link between prime real estate and sustainability credentials is the market’s biggest achievement [00:16:39] The RICS ESG and Sustainability in Commercial Property Valuations — 4th Edition [00:19:04] The long tail problem: writing a standard that works for a chip shop in Aberdeen, not just institutional London [00:21:34] Why Sam loves EPCs: the only tool that shows you the full quality spectrum, and why they’re repricing the market in ways sustainability teams aren’t paying attention to [00:26:19] Sustainability’s communications failure: too focused on what isn’t working [00:28:42] Why sustainability professionals struggle to claim credit for systemic wins [00:31:08] The ULI PRESERVE tool: building a shared language for value and CapEx decisions [00:33:32] The brown discount thesis: why waiting to retrofit is a compounding cost [00:35:53] Place-based transformation: King’s Cross as the template, and why a version of it on the high street could become an institutional asset class [00:38:12] The brown-to-green investment opportunity: why 20–30% of buildings may be mispriced relative to their EPC performance [00:40:36] AI in real estate valuations: CBRE’s Ellis tool, automated valuation models, and why human judgment in valuations isn’t going anywhere soon [00:49:36] What AI is genuinely well-suited for in the built environment: physical climate risk data, building performance optimisation [00:52:01] Closing questions: If you had a magic wand... Organisations Mentioned CBRE RICS (Royal Institution of Chartered Surveyors) IVS (International Valuation Standards) ULI (Urban Land Institute) JLL LaSalle Investment Management Octopus Energy Reports & Tools Mentioned RICS ESG and Sustainability in Commercial Property Valuations — 4th Edition (Professional Standard) RICS Valuation — Global Standards (Red Book) ULI PRESERVE Tool — Assessing Transition Risk in Valuations (C-Change) CRREM — Carbon Risk Real Estate Monitor (Risk Assessment Tool) UK Government — Non-Domestic MEES: EPC B Implementation Consultation The Future We Build is a podcast exploring sustainability, innovation and systemic change in the built environment, hosted by Alex Edds. New episodes released weekly. Filmed at Mute showroom, Great Sutton Street, London. Follow the Show LinkedIn: https://www.linkedin.com/company/the-future-we-build Apple Podcasts: https://podcasts.apple.com/us/podcast/the-future-we-build/id1877617346 Connect with Alex LinkedIn: https://www.linkedin.com/in/alexedds More About Our GuestSam Carson on LinkedIn: https://www.linkedin.com/in/samcarson/ CBRE: https://www.cbre.com

The Future We Build

The One With… the Aerospace Engineer who spotted Real Estate's broken system — and built a firm to fix it

The One With... the Engineer Turned AI Innovator and the 300-Year-Old Estate — Ranjeet Bhalerao & Simon Tranter

The One With... the Team Who Mapped Every Barrier to Scaling Sustainability in Real Estate — UKGBC

The One With... the QS Who Went All In On AI

The one with... the Housebuilder Seeking To Decarbonise 8500 Homes A Year

The One With... The Investor Who Switched Sides To Run The Climate Standard For Real Estate

The One With... the World’s First Green Bond in Real Estate — Anna Denell, Vasakronan

The One With... The Sustainability Valuer - There's No Such Thing As a Green Premium

Trailers

Season 2 Trailer - The Future We Build

The Future We Build Season 1 Trailer

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The Future We Build

Episodes

The One With… the Aerospace Engineer who spotted Real Estate's broken system — and built a firm to fix it

The One With... the Engineer Turned AI Innovator and the 300-Year-Old Estate — Ranjeet Bhalerao & Simon Tranter

The One With... the Team Who Mapped Every Barrier to Scaling Sustainability in Real Estate — UKGBC

The One With... the QS Who Went All In On AI

The one with... the Housebuilder Seeking To Decarbonise 8500 Homes A Year

The One With... The Investor Who Switched Sides To Run The Climate Standard For Real Estate

The One With... the World’s First Green Bond in Real Estate — Anna Denell, Vasakronan

The One With... The Sustainability Valuer - There's No Such Thing As a Green Premium

Trailers

About

Information

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