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What is sustainability?

By Yoshinori Hirano MRE posted Mar 21, 2013 01:01 AM

  

Before facing economic crisis and tremendous earthquake in Japan, I worked very hard for myself and for pursuing my personal interests. At that time, my interests were to achieve high IRR and make profit for my clients. It was really fun and exciting to invest in commercial property and divest it with incredible high price in short term. I always thought how to maximize profit and return. What I did was to seek good investment opportunity and acquired it with low price, and sold it with high price without adding any value. But, economic recession put an end to our game, and many funds and REITs which couldn’t create any value left the market.  

In Mar-2011, we experienced unforgettably impressive big earthquake. Tremendous earthquake and tsunami wiped out everything and carried off the reason for living from many people. Many people lost their family and their loved one. Over 300,000 people lost their house and still living in shelter. Many people lost their hometown due to Fukushima nuclear power plant accident. Fukushima nuclear power plant is still leaking radiation and polluting atmosphere even though two years has been passed since earthquake. Before having such a big accident, all we thought that nuclear power generator was eco-friendly and more economical. But now, no one knows the total cost of decontamination and cost of tear-down Fukushima nuclear power plant. 

These significant events drastically changed my priority and way of thinking. I strongly felt that I wanted to become a professional who can create value and contribute to build sustainable community for local people. That was one of my biggest motivations to study abroad and joined grad school to study real estate. Two years have passed since earthquake. I have not found "the true meaning of sustainable" and "how can I contribute to create sustainable community", however I feel that I have begun to understand its meaning and how to contribute to local community through my study. My study will continue until I find the answer to those questions.

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