Embodied carbon, sponge cities and digital material passports among standout concepts at real estate innovation showcase
The second edition of the MIPIM Challengers initiative saw 16 under-30 professionals from across Europe present forward-thinking solutions to the property sector’s most urgent challenges during MIPIM 2025 in Cannes.
The programme, launched in 2024, gives young professionals a platform to challenge traditional industry thinking. This year, audience participation was introduced for the first time, with the concept of treating embodied carbon as a financial asset emerging as the most popular idea.
Tom Sells, Audit Senior at EY, led the presentation, proposing that embodied carbon be accounted for as an "asset" to be amortised. He argued this could shift financial models to favour retrofit and reuse over demolition and rebuild. He was joined by professionals from Colliers, Knight Frank, Savills, Mitiska REIM and IREBS University.
Fellow presenter Ioana Orzea emphasised the investment sector’s need for a regulatory body to support the integration of embodied carbon in valuations. Betsy Brady of Knight Frank noted that high rents in London continue to incentivise new development despite sustainability concerns.
Other standout presentations included the “Sponge cities” concept, addressing urban flooding. Justine Noulin of PCA-STREAM and her team highlighted recent European floods and called for policies to support rain gardens, green roofs and other Sustainable Urban Drainage (SUD) features.
Meanwhile, a third group introduced “material passports” to track building components through their lifecycle, aiding reuse and reducing waste. Bijou D'Arcy Louise Dunn of Shoosmiths LLP highlighted the role of AI and blockchain in standardising this approach, referencing British Land’s Broadgate scheme.
Adina David, founder of Poem Capital and Patron of the Challengers, praised the initiative: “All the 16 finalists are really inspirational. I learned a lot from them, discussing topics I don't often think about.”
The MIPIM Challengers competition will reopen in September 2025, with MIPIM 2026 set to take place in Cannes from 9–13 March.