Click or search for a specific market to view its global rank and score. Find out about each country/territory’s strengths and weaknesses across six key categories: investment performance measurement, market fundamentals, governance of listed vehicles, regulatory & legal environment, transaction process and sustainability transparency.

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Sustainability transparency is becoming increasingly critical as the deadline to halve emissions by 2030 in line with the Paris Agreement nears and a growing number of countries and cities set out mandatory long-term decarbonization pathways. With new building energy performance standards, sustainability reporting requirements and corporate commitments ramping up, sustainability has been the largest driver of transparency improvements in 2024.

Despite the progress made so far, sustainability metrics continue to be among the least transparent globally. Many companies are still at an early stage in tracking their actual portfolio emissions, building level performance or climate risk, with a lack of standardized information and processes contributing to concerns about data quality and greenwashing. Markets with the clearest long-term pathway to more sustainable real estate – such as France, Japan, leading cities in the U.S., and the UK – will offer the most transparent and predictable environments, helping to address the significant shortfall in low-carbon buildings and allowing occupiers to make location and space decisions with confidence, governments to meet decarbonization targets and investors to future-proof their portfolios.