Regional CEE Report on green certification in real estate
Certifications associated with real estate are an integral part of ESG strategies. Interestingly, they are not only concerned with the environmental aspect, but also with other components of sustainability and ESG. The regional report "The Journey Towards ESG Compliance" analyzes the region's performance in terms of economic and energy efficiency. It also introduces the certifications that are available on the market, discusses what they cover, and who should consider them as part of their ESG strategy. The publication outlines the situation in Poland, Bulgaria, the Czech Republic, Romania, Slovakia, and Hungary.
What are the key findings from the report?
- Real estate contributes about 40% of all greenhouse gas emissions globally, of which 30% is due to development and construction processes, and 70% is caused by the buildings' operation.
- Western European countries have a higher share of energy consumption in commercial and public services, while CEE-6 countries tend to consume more energy by households.
- Poland and Hungary have relatively low levels of energy consumption per capita, but appear to be less efficient in energy use.
- Romania has the lowest level of energy consumption in the EU, with most of the other CEE-6 countries also at the bottom of the ranking.
Green certification in practice
- Looking more closely at the most recently delivered stock, from 2017 to the first quarter of 2022, it is encouraging that on average 75% of office buildings in CEE have either achieved, or sought-after certifications that will deliver part of their commitment to ESG compliance. In some countries, this number was as high as 100%.
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Andrzej Gutowski |
What will you learn from the report?
- what ESG challenges Central and Eastern European countries are facing;
- how certification can help your ESG strategy (with consideration of office tenants, new developments, existing buildings, and new types of certification);
- what WiredScore and SmartScore technology certifications address and what parameters they verify;
- what is the correlation between the LEED certification and the EU taxonomy;
- what is the correlation between the WELL certification and GRESB (Global Real Estate Sustainability Benchmark);
- what zero-carbon is and how to achieve it;
- what is the landscape of green certification in office markets in the capitals of the regions.
The report provides answers to some of the most frequently asked questions about ESG, illustrated by examples of projects that we have conducted, along with an explanation of the tools and services available at Colliers. Most of the information in the report is related to office space, but many of the principles are applicable to all types of real estate.
We invite you to read it!
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