It has been a busy year for the European Commission’s corporate accountability initiatives, including updates to the EU Sustainable Finance portfolio. These policy changes, reflecting the Commission’s focus on improving the energy performance of the EU building stock, are consequential for EU real estate investors and developers.  New sustainability-linked financing models and Environmental Social and Governance (ESG) ratings standardisation complement the European Green Deal by directing financing to real estate construction and renovation that maximises energy performance. These programs enable EU real estate investors and builders to collaboratively reduce energy use and meet the EU Climate Law’s 2030 goal of reducing greenhouse gas (GHG) emissions by fifty-five percent. Strategic policy and research consultant Lisa Chase has summarised the policy framework for Property Forum.

More than three-quarters (76%) of office stock across Europe will be at risk of obsolescence by 2030 according to the latest report from Cushman & Wakefield. One of the reasons is the increased level of legislative action around sustainability requiring investors to modernise real estate to ensure ESG compliance. To take one example, commercial property landlords are required in a growing number of cities across North America and Europe to install green roofs that help increase urban biodiversity, optimise energy costs and improve the user experience.

Despite the pandemic, travellers and businesses have seen several large-scale real estate-related developments at Liszt Ferenc International Airport in Budapest during the past few years. There will be more huge investments over the coming years. Property Forum asked Rene Droese, Chief Development Officer about each of them, including reopening Terminal 1 and preparations for a new Terminal 3.

Sierra Balmain has published its first ESG report. Among its achievements, the company highlights e.g., reducing electricity consumption by 40% in managed facilities, implementing projects designed to benefit local communities, as well as an effective equal opportunities policy in its own organization.

Colliers released its third annual Impact Report, highlighting progress towards realizing a more sustainable and equitable future for all. This report includes information on how Colliers is delivering resilient buildings, inclusive workplaces, and spaces that promote health and well-being.

The opening panel of European ESG Property Forum 2023, which took place last week in Warsaw, has shown that the best stimulator to implement ESG strategies in the property market are always the financial and legal regulations.

Ann Gray FRICS, President of the Royal Institution of Chartered Surveyors (RICS) and President-Elect Tina Paillet FRICS spoke to Property Forum at MIPIM about the recent and upcoming changes in the organization, innovative carbon reduction standards and creating equal opportunities in the property industry.

CTP is contributing to the carbon neutrality of the warehouses of CTPark Prague North with the use of trapezoidal sheets made of XCarb ‘green’ steel, manufactured by Arcelor Mittal. It will be added to the entire roof area of a warehouse designated D8.7B with a total area of 32,000 sqm. This resulted in a saving of 835 tonnes of CO2, the equivalent of 348 people living without a car for 1 year.

Prague's famous brutalist-style Intercontinental Hotel is undergoing a complete renovation. After the reconstruction, the hotel will operate with sustainability principles and will become part of the Fairmont chain, the daily E15.cz reports without mentioning the price of the planned reconstruction.

Investors and tenants in Romania appear to have higher expectations regarding the environmental characteristics of the building than their counterparts in other countries, according to a survey by CBRE of 20 building owners in Romania.