To celebrate International Women’s Day 2024, which takes place today (8 March), BE News is running a series of interviews with inspirational women who work across the built environment sector
Name: Katerina Papavasileiou
Title: Director, ESG and responsibility, Federated Hermes Real Estate
What I do: I head up ESG and responsibility in the real estate team at Federated Hermes, which includes leading the net zero agenda across our $8.3bn real estate portfolio of both existing assets and new developments including our regeneration and placemaking schemes. My role involves ensuring the team progresses and meets our ambitious ESG commitments on climate resilience, biodiversity, and social impact, all while delivering sustainable returns for our clients.
Why I got into the property industry: Real estate impacts everything around it – from the people and communities who use it to the environment. I was attracted to the industry due to the exciting opportunity it offers to shape and contribute to society and the environment. It is a privilege to be part of such a dynamic sector which is constantly evolving and delivering tangible change for people and planet.
My inspiration(s): I have been lucky enough to work with a number of industry leaders who are at the forefront of driving innovation and change in the industry. If I had to pick one it would be Victoria Thornton OBE, the founder of the Open House for her vision on improving public engagement in architecture and urban design and creating a global movement.
The biggest challenge I’ve encountered to date: The scale of the challenge of decarbonising existing portfolios is one the biggest challenge I have faced in my career. With over 80% of the buildings that will exist in 2050 already built, we need tangible actions beyond bold commitments and strategies. Therefore, the pivotal question that we should answer is how we prioritise nature while creating opportunities for people and communities to thrive with fewer available resources.
My biggest screw-up: There have been a few, but my biggest mistake has been falling into the ‘busyness’ trap. We live in a very ‘busy’ world with never ending flow of information, emails, meetings. I was always on ‘action mode’ and I was not allocating enough time for deep thinking and strategic work. The benefits of slowing down are massive on productivity and creativity. So, what I have learn to do is to intentionally slow down and ask myself “Am I working on the right thing?”
My biggest bugbear about the industry/the one thing I would change about the industry: The pace of change. The initial enthusiasm for tackling the climate challenge in the property industry is often fades, and I find it frustrating that the industry is not moving fast enough given the urgency of the situation. Our sector can be a catalyst to sustainable development if we direct our efforts and expertise to accelerate our journey towards a just transition.
When I became interested in ESG: I have always been interested in how we can use the skills and the expertise of private sector for large-scale societal transformation towards sustainability. That’s why I started my academic training on management science and economics before I delved into the environmental policy. I started my career in the built environment with the aim of improving people’s lives while improving our environment. Initially I worked for an non-governmental organisation running sustainability awareness programmes before gaining additional experience at a construction company, followed by property management, where I advised investors on their ESG implementation plans.
Why I’m so passionate about DE&I: My diverse background and career path means I have seen the property industry from many different perspectives. If we want to make progress, we need to take a step back and consider diversity and inclusion challenges from new perspectives. At Federated Hermes we have implemented a number of diversity initiatives, including investment training programmes. I undertook inclusive and diverse recruitment training, helping us to create a more inclusive environment at senior-manager level to attract more diverse people.
What I do in my downtime: I am a self-confessed ‘art addict’ – and my posters from recent exhibitions I have visited offer a colourful backdrop for Teams calls and are a great conversation starter! I have a particular interest in artists whose works bring together my love of the natural environment with their art.
The job I’d be doing if I was not doing this: I would have been part of a production team who organises big immersive theatre performances. I find fascinating on how people collaborate to make an idea reality.
My advice for someone just starting out: The advice I would give is to invest in yourself, but you should not wait until you feel ready before you start pursuing your dreams. You become ready when you do the job. Also, embrace the uncertainty and not knowing exactly the destination. Joseph Campbell said: “If you can see your path laid out in front of you step by step, you know it’s not your path.”
My motto/mantra: Consistency over intensity! I am a big fan of the compounding effect.
