The COVID19 pandemic has reshaped the World and, therefore, the real estate market. The profound change in habits that COVID has brought, awakened new needs in residential, office and public spaces. At the same time, concern for climate change and environment protection has increased exponentially. The urgency to take climate action and resource protection has clearly been perceived and described by the authorities and has resulted in a new set of regulations and financial instruments.
In March of 2020, the EU Commission published the EU taxonomy to clearly describe which activities may qualify as sustainable under the light of the Paris Agreement and the 2030 Agenda. This EU Taxonomy was recently updated by several Delegated Acts* to better outline the requirements in terms of transparency and reporting, among others.
The Eu Taxonomy defines 6 different axes of action to classify the environmentally sustainable economic activities. This enables the access to finance in the context of the Paris Agreement goals and the EU 2030 Agenda. Construction and Real Estate can contribute to achieve these Global Goals following the EU Taxonomy categories.
We address all of them to prepare your investment to qualify and help you meet your ESG and Net Zero Carbon targets.
*Regulation (EU) 2019/2088 on sustainable Finance Disclosure regulation (SFDR) and Delegated Acts April 2021. https://ec.europa.eu/info/business-economy-euro/banking-and-finance/sustainable-finance/eu-taxonomy-sustainable-activities_en