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Boo Il Lim

Boo Il Lim Image readingcampus


  • Climate-related risks and ESG ratings, premium of green certifications and energy efficiency, the impact of Covid-19 on green premium in the housing market.

My research questions emerged from the interest concerning green premiums on the properties’ prices. Many researchers revealed green premiums on the properties, but most research showed a negative relationship between the E-pillar score and the assets’ returns despite the surging trend of ESG investing. One of the reasons why the adverse impact of the E component on the assets’ returns is the divergence of ESG ratings due to employing various ESG data, methodologies, and indicators. This has confused financial market participants and led to scepticism of the E pillar score. In addition, compared to the high interest in transition risk and lower carbon emission risk by implementing a strict lower carbon emissions policy, the physical risk of climate change has less attention in industries. However, the significant loss and hazard due to acute and chronic climate events require ESG rating’s progress. Therefore, I will explore the impact of the divergence of the ESG ratings and climate-related risk on the REITs' markets.

Research topic:

The Influence of ESG Disagreement on REIT Risks and Returns; Different responses to climate-related risks according to the ESG rating agencies create confusion for investors.


Dr Yuan Zhao Yuan Zhao | Henley Business School and Prof Yiquan Gu Yiquan Gu | Henley Business School


Licensed Real Estate Agent by Ministry of Land, Infrastructure, and Transport

Engineer Information Processing Qualification (visual basic programming) by Human Resources Development Service of Korea

The University of Manchester, MSc Real Estate Asset Management

The University of Reading, MSc Real Estate Finance

Research grants:

Reading Real Estate Foundation studentship


Best Realtor CEO Award, Songpa-gu government office in Seoul, Republic of Korea

Excellence CEO Award, Dongguk University

Grand prize for 2007 Good Partnership, Standard Chartered Bank Korea Ltd.