ESG FOR COMMERCIAL REAL ESTATE – THE KEY TO THE SUSTAINABLE FUTURE OF THE SECTOR [ENGLISH VERSION OF REPORT AVAILABLE]

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The Polish Council of Shopping Centers (PRCH), the Polish Chamber of Commercial Real Estate (PINK), and the Royal Institution of Chartered Surveyors (RICS) have presented their latest publication on sustainability in the commercial real estate sector, entitled “ESG for Commercial Real Estate 2.0: Selected Issues and Practices.” The document analyses the current challenges facing the commercial real estate market in the ESG transition.

The publication is intended for property owners, developers and investors. It provides guidance on how to meet increasingly stringent environmental, social and governance standards. This compendium provides a detailed overview of issues such as building taxonomy, energy efficiency and decarbonization of real estate, ESG factors in real estate valuation, and innovative management methods. The purpose of the document is to support the sector in adapting to ESG regulations and related EU standards.

– One of the key challenges remains the effective integration of environmental goals with business objectives. At a time when ESG is not only a legal obligation but also an investor expectation, the transparency of ESG strategies and their proper implementation are becoming the foundation for success – emphasizes Seweryna Afanasjew, President of the Board of RICS in Poland.

Key challenges in combining environmental and business goals

The publication analyzes key trends and challenges affecting the commercial real estate market, with a particular focus on sustainability issues and related innovative solutions. One of the main topics is smart building management, which involves the use of advanced technologies to optimize energy consumption and improve user comfort. The authors point out that the development of this segment can significantly increase the market value of real estate, while contributing to the achievement of global climate goals.

Another important issue is the development of green financing, which opens up new investment opportunities for the real estate sector. The compendium points out that investments in green solutions are becoming not only a regulatory requirement but also a key factor in market competitiveness. In this context, experts drew particular attention to the growing popularity of green leases, which motivate both owners and tenants to implement environmentally friendly practices.

– The effectiveness of ESG transformation depends on many factors, including precisely planned goals, a consistent action plan, and cooperation, e.g., between owners and tenants in commercial properties. A conscious approach allows us to identify the most important areas of change and break them down into well-thought-out stages. I hope that the publication “ESG for Commercial Real Estate 2.0” will support the industry in the green transformation process - says Marcin Klammer, managing director of the Polish Council of Shopping Centers.

In addition, in recent years, ESG issues have become increasingly important in the property valuation process. Growing regulatory requirements, the dynamic development of international standards, and growing public awareness of environmental and social responsibility mean that property valuation that takes ESG aspects into account is not only desirable but also necessary.

Decarbonization and innovation in building management

Importantly, the publication by PINK, PRCH, and RICS also contains a clear call for cooperation at the national and local levels. According to the authors, only coordinated action will allow for the implementation of innovations such as the decarbonization of commercial buildings and the promotion of local biodiversity. The key conclusions indicate that the real estate of the future must not only be more energy efficient, but also fit into the strategy to tackle the climate crisis.

- This publication is an excellent tool for companies that want to understand the new ESG standards and implement appropriate measures within their structures - notes Ewa Andrzejewska, COO of the PINK Association - We believe that it will inspire concrete actions that will bring the sector closer to achieving the goals of the green transition of the economy.

We encourage you to download and read the publication. It can be downloaded from the authors websites. It is available on the PRCH website.

The partners of the publication “ESG for Commercial Real Estate 2.0. Selected Issues and Practices” are companies and their representatives who contributed their expertise to the compendium. These include: Mota-Engil ATIV Polska, PwC, Reesco, Respect Energy, and Skanska.

The media patrons include: SCF News/Retailnet.pl, ESG Trends, Estate FM, oesg.pl, Property Insider, raportcsr.pl, and Wprost.

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Polska Rada Centrów Handlowych

The Polish Council of Shopping Centers (PRCH) is a not-for-profit association with over 200 members operating in the retail and services sector. It is a leading non-governmental organization that has been working for over 20 years to develop the retail sector. The Polish Council of Shopping Centers supports and represents its members in the business, political, and social spheres with the aim of creating modern retail, service, and cultural venues that offer unique consumer experiences. It participates in the creation and promotion of market standards by collecting, analyzing, and presenting reliable data on the industry and its development trends. It is the sector's expert voice on legal regulations. It develops and publishes materials and market research on shopping centers and their future.

Read more: www.prch.org.pl.

About PINK

The Polish Chamber of Commercial Real Estate (PINK) brings together participants in the commercial real estate market - developers, investors, property managers, project designers, building consultants, real estate consultants and legal, tax and financial services advisory firms - enabling them to have a real impact on the surrounding economic, political and social environment. PINK is both their representative and a platform for cooperation, exchange of experience and knowledge.

Read more: https://stowarzyszeniepink.org.pl/en/

The Royal Institution of Chartered Surveyors

The Royal Institution of Chartered Surveyors (RICS) is a global professional organization bringing together real estate professionals and working for the public good, with the aim of developing knowledge, creating and implementing market standards, and building a professional image for the real estate market. Our members help to create and protect the built environment, designed by people for people, taking into account environmental conditions and sustainable development.

With over 150 years of tradition, RICS sets standards for over 130,000 members and candidates of the organization, operating in the field of broadly understood real estate management, construction, and infrastructure in over 140 countries around the world.