<p>Environmental, Social and Governance needs a regulation overhaul to aid growth opportunities in the housebuilding sector, according to a new report.</p> <p>A joint study from law firm Womble Bond Dickinson and the University of Cambridge finds that a lack of clarity over regulation in the Environmental, Social and Governance (ESG) space is creating differences in approach, limiting growth opportunities in the UK.</p> <p>The report, <i>ESG: Investing in the built environment</i>, which considers the impact of ESG principles on the operations of built environment companies, also finds that the environmental aspect of ESG appears to be the focus. The report points to a recent survey of 1,000 European sustainability investment managers showing that overall, investors prioritised the environmental dimension of ESG.</p> <p>The authors of the report also call for further guidance on the UK Green Taxonomy – a system aiming to assess whether an investment is sustainable. According to the report, while environmental targets and measurements were the “standout principle” of ESG, a lack of detail around the UK Green Taxonomy presented a “risk”. More information here “would provide clarity on sustainable activities, disclosure requirements and key performance targets”. </p> <p><span>Charlie Reid, partner at Womble Bond Dickinson, said that with a …