The real estate sector is currently responsible for around 40% of global annual CO2 emissions and 40% of natural resource use. This means that efforts to tackle climate change must focus on both the design and construction methods for new buildings but also more sustainable long-term solutions for existing properties. Our real estate department assists the public, private and third sectors with the management and development of their estates portfolios in ways that balance economic and social imperatives against environmentally friendly objectives to support the Green Industrial Revolution.
While environmental initiatives in the built environment were originally considered a ‘nice to have’, these are now ‘must haves’ and becoming increasingly financially viable. This means that the public sector can play a leading role in the Net Zero strategy by incorporating green strategies across its property portfolio.
Our real estate department has significant experience assisting clients with the development of new major EV charging schemes affecting highways, as well as implementation of discrete EV charging points within existing developments. We have also seen an increase in ‘smart building’ technologies with more opportunities to increase energy efficiency and decrease building operating costs, and we are here to assist with incorporating ‘green’ provisions within leases to ensure that both landlord and tenant is managing and/or occupying a site in a sustainable manner. It is becoming more frequent for occupiers to utilise green financing, and funding requirements include a building meeting the grade under a sustainability ratings scheme. Our team is here to assist with advising on BREEAM, MEES and other design criteria that funders will be considering in connection with KPIs under green loans.