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How does ESG and financial compliance affect the commercial real estate market?

How does ESG and financial compliance affect the commercial real estate market?

Interview with Edina Hornok, sustainability director at DVM group.

An article in the BBJ – Budapest Business Journal, featuring respected industry experts in the real estate sector, examined how ESG and financial compliance are impacting the commercial real estate market. Edina Hornok, Sustainability Director at DVM, believes that architects have an important role to play in helping investors achieve their ESG goals. When designing, they are expected to create buildings that meet both environmental aspects and user needs.

“They can mostly influence the ‘environmental’ and ‘social’ components of ESG. The practices they use need to be changed: they have to focus on energy efficiency and net-zero emission, building cohesion in communities, and rehabilitation of public spaces.” – emphasized Edina Hornok.

The reduction of negative environmental impacts during the construction of a property has become part of social awareness and a positive evaluation criterion in decision-making.

„In some respects, refurbished older buildings are more sustainable since there is less need to produce and transport materials (concrete, for example, which has a massive environmental impact). There are many good examples of sustainable refurbishment projects; for example, the Eiffel Palace in Budapest, which received both LEED and BEEAM certification,” – concluded her thoughts.

The interview appeared in the 10 February 2023 issue of BBJ: https://bbj.hu/business/real-estate/office-market/esg-and-financial-issues-have-dual-impact-on-commercial-real-estate