Francine Pickup: More investment needed in sustainable housing projects

Viewing housing solely as an economic asset leaves low-income people and informal settlements largely unattended, Francine Pickup, deputy director of the UNDP Bureau for Policy and Program Support, said at an event during WUF13 in Baku, Report informs.

She noted that because investments are primarily directed toward high-end housing projects, internally displaced people, small towns, and informal settlements are neglected: "We should view housing not only as an economic asset, but also through the lens of its social function. Housing provides people with access to healthcare, jobs, and services, while strengthening social cohesion and trust within communities."

Pickup cited the example of Colombia, noting that UNDP worked with 170 municipalities in the country, which experienced years of conflict: "Housing is also a crisis-resilience issue. No one is immune to climate, economic, or migration crises anymore. Housing policy determines the resilience of cities and people to crises. An integrated approach to housing is needed, and this area is closely linked to issues of governance, financing, and gender equality."

She expressed a desire for investors and banks not to view housing solely as a high-yield sector: "More investment is needed in sustainable housing projects."