Stockholm (NordSIP) – For the first time since its creation five years ago, Stockholm made it to the Schroders’ Global Cities Index top 30, thanks to its environmental credentials.
The index from the British asset manager ranks the top economically strong cities for global real estate investing based on three dimensions. The addition of the Swedish capital was primarily motivated by a revision of the methodology of the index, which for the first time included an environmental measure. The Environmental Impact Score (EIS) quantifies which cities have the lowest environmental risks. Previously, the aggregate index only included an Economic Impact Score (EcIS) and the University Impact Score (UIS).
According to Tom Walker Co-Head of Global Real Estate Securities at Schroders, “Stockholm has become the first Scandinavian city to enter the top 30 of the Schroders Global Cities Index. This is because of its robust economy and commitment to reducing its environmental impact.”
Walker highlights the 25% reduction in CO2 emissions Stockholm achieved since 1990 and its aim to be the first climate positive city in the world by 2040. Another initiative that impressed Schroders was the capital city’s use of energy waste, such as the heat produced by the city’s many data centres, to heat homes and businesses. The initiative was facilitated by a heat pump facility financed as part of the GrowSmarter project, which brought together cities and industry to integrate and demonstrate ’12 smart city solutions’ in energy, infrastructure and transport.
“Stockholm is fortunate in that there is a low probability of ‘physical’ and ‘well being’ risks. In addition, it is clear from the various national goals set by the Swedish government that there will be a strong score for ‘policy’,” Walker added.
According to the Global Cities Index, Stockholm was upgraded 17 places in 2019. Last November, Stockholm was awarded the Smart City 2019 Award for its ‘innovation, openness and connectivity’ at the Smart City Expo World Congress in Barcelona.
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