According to a news report on the matter, Bill Hughes, managing director of Legal & General Property and chairman of The Green Property Alliance, said: "There is a growing interest in the management of regulatory and financial risk for property arising from climate change, with a belief that its relationship to the financial performance of real estate may emerge in the near future. It is in the industry and Government's interests to ensure that laws and taxes designed to elicit energy and carbon efficient behaviours are achieving their objectives, not to mention those of the wider economy. In taking a broad view of the framework for carbon incentives and penalties, this project may also illuminate opportunities to influence energy efficient behaviour that we had not previously discerned."