The London and Dublin stock exchanges are at a critical juncture. Once vibrant hubs of capital formation and economic dynamism, both are now facing a stark decline in primary market activity, such as IPOs.

Risk remains in the sector, but retail assets are certainly rebounding, with a number of large deals recently bolstering confidence.

The real estate fund sector in the UK and Ireland continues to face mounting challenges, closing 2024 with full-year net outflows of £1.155 billion, according to the latest data from Calastone, the largest global funds network. This marks the seventh consecutive year of capital flight from the sector.

Where does ESG find itself within real estate today, and does it have a future? This type of grand strategy within the sector is what Jon Lovell, co-founder of Hillbreak, is best placed to guide, given his role as one of the first movers and shakers in the industry to recognise the need for bridging the gap between financiers and the narrative-driving sustainability types. This week’s PropCast, with Andrew Teacher and in partnership with Property Week, seeks to engage with the big questions, ranging from the huge risk and opportunity of stranded assets, the looming deadline for 2030 net zero targets, the skills deficit on both sides of the ESG fence and, perhaps most importantly, the profound implications of the Paris Accord’s 1.5°C goal being effectively dead in the water.