ARTICLES LABELLED WITH TAG ESG

In 2024, the Polish commercial property market will be largely impacted by growing ESG regulatory pressure, says Cushman & Wakefield in its latest report. Following the entry into force of the EU reporting standards and the revised EPBD, investors will be required to place an increasing emphasis on implementing practical sustainable solutions for their property portfolios.

According to experts from Colliers, the Czech real estate market is facing several challenges this year.

Capital Park Group has started to power its investment projects exclusively with energy from renewable sources. As of January 2024, Norblin Factory, Royal Wilanów and two Vis à Vis street malls use 100% green energy. The total area of all projects powered by RES is more than 110,000 sqm. The energy supplier is Enefit. The Westbridge Advisory team advised Capital Park in the procurement process.

7R will introduce a battery energy storage unit at 7R Park Wrocław West II. This innovative solution is unprecedented in facilities of this type. It will allow for storing the energy and, consequently, a significant reducing of the carbon footprint.

The Romanian property market remains attractive for investments, with 65% of investors surveyed by Cushman & Wakefield Echinox saying they are looking to expand their presence in the local market.

Uncertainty and volatility have been the two dominant trends shaping the commercial real estate market and buyer sentiment in recent months. However, according to the latest report from Cushman & Wakefield, the Polish market, whose fundamentals remain strong, is broadly expected to regain equilibrium. Change is being seen in the number and types of real estate transactions taking place – due to the constrained availability of safe prime assets for sale on the office market and high financing costs, investors seeking higher returns are turning their focus to higher-risk transactions. With retail footfall figures for large schemes back at satisfactory levels after the pandemic and attractive asset pricing, the retail market has become an interesting sector for bargain hunting. The warehouse and logistics sector continues to feature prominently on investors’ radars.

White Star Real Estate has published its ESG report for the year 2022, which includes a review of activities related to the areas outlined in its ESG Policy: environmental, social and corporate governance. Despite no legal obligation to prepare a non-financial report for 2022, the company opted to create a report in reference to the Global Reporting Initiative (GRI) guidelines.

With the upcoming introduction of mandatory non-financial reporting, which will require companies to report on how they are performing in the areas of environment, employee relations and responsibility, and ethical working practices, industrial and logistics companies are taking a keener interest in sustainable solutions. This interest is then reflected in their demands for the properties on which they are based. Research by Colliers shows that the sustainability issue has so far been most commonly addressed by large multinationals, who expect properties to be equipped with sustainable technologies such as heat pumps, heat recovery units, energy-efficient smart lighting and photovoltaics. Experts from Colliers predict that interest in this topic will also increase next year but among smaller local companies. 

Some of the largest cities in Romania, including the capital, have some of the newest office stocks in CEE that have certifications, according to CBRE research.

To address climate change-related challenges and help investors and occupiers comply with relevant regulations or government targets, as well as meet their own ESG commitments, CBRE's Southeastern Europe (SEE) office is expanding its services with the launch of a new business line, 'ESG & Sustainability Services'.