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compliance",false,"https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002F1920x577_2022_9_15_16_25_53_1663269953.jpg","https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002FCover_2022_9_15_16_25_53_1663269953.jpg","https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002FTop_2022_9_15_16_25_53_1663269953.jpg","2022-09-15T00:00:00.000Z","Credit: NASA (Unsplash)","#FFFFFF","The European Union has been formulating bold objectives to decrease environmental damage, by reducing greenhouse gas emissions in the real estate sector","https:\u002F\u002Fcdn.griinstitute.org\u002Fuploads\u002Fhubnews\u002FSocial_2022_9_15_16_28_14_1663270094.jpg",1500,"2022-09-15T16:25:53.000Z","2024-05-28T05:54:45.000Z",[1464],{"id":1465,"newsId":1447,"languageId":47,"title":1450,"subtitle":1466,"content":1467,"summary":8,"takeaways":8,"seoTagConversionId":8,"seoTag":8,"seoTitle":8,"seoKeywords":8,"seoDescription":8,"seoAbstract":8,"seoImage":8,"createdAt":1468,"updatedAt":1469,"language":1470},2028,"If you feel like climate change is gaining more momentum in conversations, news feed, radio, or tv time, you’re not alone","Heatwaves, droughts, wildfires, and floods, along with the Russian wars in Ukraine, have been the protagonists of the summer. In Europe, one of the consequences of these unfortunate events is that energy prices are soaring.&nbsp;\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nThe European Union has been formulating bold objectives to decrease environmental damage, by reducing greenhouse gas emissions in the real estate sector.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nThose medium to long-term strategies, combined with short-term tactics (for example, energy sobriety), proposed for 2022, are multiplying with the growing concern of climate change.&nbsp;\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nRegarding decision-makers on the owner and occupant side of the real estate sector, several regulation deadlines are coming up, along with the complications of energy saving throughout the heavy winters &ndash; this should be more than enough to motivate them to strengthen their strategies.\r\n\u003Ch3>Energy sobriety\u003C\u002Fh3>\r\nA study by the Met Office Hadley Centre in the UK revealed that even if all countries reduce greenhouse gas emissions as they&rsquo;ve pledged, 2022&rsquo;s record-breaking heat wave will become the \u003Cem>new normal summer\u003C\u002Fem> in Europe by 2035.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nAs a result of this hot and dry weather, the droughts manifested all over the area hitting new records as well as the raging wildfires sweeping Portugal and France during the past weeks have left the feeling of \u003Cem>irreversible consequences\u003C\u002Fem> all over the world.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nAdding to this scenario and because of Russia&#39;s invasion of Ukraine on February 24, 2022, the amount of natural gas flowing to Europe from Russia has dropped by more than half, driving energy prices to record levels.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nThis is a significant issue, as many eurozone countries rely heavily on Russian fossil fuels to heat or cool their homes, let alone power their economies.&nbsp;\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nIn May, the European Commission introduced the \u003Cstrong>\u003Ca href=\"https:\u002F\u002Fec.europa.eu\u002Fcommission\u002Fpresscorner\u002Fdetail\u002Fen\u002FIP_22_3131\" target=\"_blank\">REPowerEU\u003C\u002Fa>\u003C\u002Fstrong> plan aiming to fast-track the green transition and reduce dependence on Russian fossil fuels.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nThrough energy savings, diversification of energy supplies, and accelerated deployment of renewable energy to replace fossil fuels in homes, industry, or power production, the REPowerEU Plan helps achieve this goal. The expected result is for Europe to strengthen its economic growth, security, and climate action.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nLast week, after the G7 had agreed to cap Russian oil prices in an effort to stem funds flowing to Vladimir Putin, Gazprom extended the \u003Cstrong>shutdown\u003C\u002Fstrong> of its Nord Stream 1 pipeline to Germany, without specifying when it will reopen. Energy ministers plan to meet soon after three countries announced relief measures.\r\n\r\n\u003Ch3>The importance of energy management\u003C\u002Fh3>\r\nProjections look pretty grim regarding energy costs for renters as CFOs of major retailers will need to address the urgency of energy management.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nOn July 26th, \u003Ca href=\"https:\u002F\u002Fwww.perifem.com\u002F\" target=\"_blank\">the Perifem Federation\u003C\u002Fa>, -- which brings together all the actors of the distribution and their suppliers around the concerns of environment, energy, security, and technological innovation &mdash; presented a crisis energy protocol that will be implemented by the end of the year.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nThe leaders of the biggest retail brands in France and Europe (Syst&egrave;me U, Leclerc, Carrefour, Auchan, &nbsp;Franprix, Casino, Lidl, Monoprix, Picard, and more) \u003Ca href=\"https:\u002F\u002Fwww.lsa-conso.fr\u002Fcrise-energetique-les-enseignes-s-unissent-pour-baisser-la-consommation-electrique-des-magasins,416101\" target=\"_blank\">have already adopted this protocol\u003C\u002Fa>, of which the main measures are aimed at extinguishing the luminous signs as soon as the store closes and systematizing the drop in light intensity during the day.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nNot to mention the ambition to apply more sober management of energy, like the interruption of the air renewal at night.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nBut this might not be enough. As retail actors need to reduce their energy consumption, produce additional energy on their own, and comply with regulatory obligations, it is unlikely that the sector will be able to finance everything from both upgrades and transition investments without support.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nMoreover, support based on data and ESG \u002F Energy management expertise will be required.\r\n\u003Ch3>The regulation ecosystem and deadlines\u003C\u002Fh3>\r\nThe EU keeps pushing for tighter ESG regulations to achieve its 2030 and 2050 climate change objectives. The goal of these regulations is to reach carbon neutrality across the continent by 2050, prevent greenwashing as well as provide transparency to investors.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nThe most famous examples are the Taxonomy Regulation and the SFDR but several countries went ahead and implemented additional regulations at the national level, such as the Tertiary Decree. These three examples, like others, have their first deadlines in 2022.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nIt&rsquo;s evident that in the last few years the regulatory ecosystem for ESG has grown exponentially and with the current and future scenarios, the layout will surely continue to develop efforts to mitigate the damages.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nGiven this year&#39;s deadlines, the real estate industry will soon receive further results on the submissions, and we&rsquo;ll have some insights into their short-term impact. One way or another, changes will be implemented based on the feedback.\r\n\u003Ch3>A combination of goals\u003C\u002Fh3>\r\nEnergy management and regulatory compliance are complex, and their planning and execution take time and effort from a team of aligned stakeholders.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nThey are the strategies that the real estate sector needs to urgently put in place, not only to mitigate climate risk but also to preserve the value of their portfolios.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nAs 2050 approaches, these efforts will need to escalate exponentially. So, if real estate actors want to keep up, this is the moment to start.\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\nAside from the resources needed to put in place a proper strategy, the data collection, action plan, and follow-up are important duties to take care of.&nbsp;\u003Cbr \u002F>\r\n\u003Cbr \u002F>\r\n\u003Cspan style=\"color:#777777\">\u003Cem>Written by:&nbsp;\u003Cstrong>Maria Eugenia Ortiz\u003C\u002Fstrong>, from \u003Ca href=\"https:\u002F\u002Fwww.deepki.com\u002F\" target=\"_blank\">Deepki\u003C\u002Fa>\u003C\u002Fem>\u003C\u002Fspan>\u003Cbr \u002F>\r\n&nbsp;","2022-09-15T16:28:18.000Z","2022-09-16T11:01:00.000Z",{"code":13},{"id":25,"color":27,"translations":1472},[1473,1475,1477],{"title":26,"slug":30,"language":1474},{"code":13},{"title":37,"slug":38,"language":1476},{"code":18},{"title":33,"slug":34,"language":1478},{"code":23},[1480,1488,1496],{"id":81,"label":1359,"translations":1481},[1482,1484,1486],{"label":1359,"slug":1370,"language":1483},{"code":13},{"label":1373,"slug":1374,"language":1485},{"code":18},{"label":1377,"slug":1378,"language":1487},{"code":23},{"id":97,"label":1029,"translations":1489},[1490,1492,1494],{"label":1029,"slug":1040,"language":1491},{"code":13},{"label":1043,"slug":1044,"language":1493},{"code":18},{"label":1047,"slug":1048,"language":1495},{"code":23},{"id":93,"label":1253,"translations":1497},[1498,1500,1502],{"label":1253,"slug":1264,"language":1499},{"code":13},{"label":1267,"slug":1268,"language":1501},{"code":18},{"label":1271,"slug":1272,"language":1503},{"code":23},[1505],{"name":1506,"enName":1506,"ptName":1506,"iso2":8},"All",[],{"en":1509},"\u002Freal-estate\u002Fthe-mix-of-energy-management-and-regulation-compliance_1874",[1511,1512,1513,1514,1515,1516],"Infra Brazil","Infra Latam","Real Estate Brazil","Real Estate Europe","Real Estate India","Real Estate Latam"]