Marian V. Popa, Managing Director for Romania at Globalworth: “ESG requirements […] are not only demanded, but they are also written into the contract. […] I’m convinced they are going to become a standard of our next life.”
In the introduction to its guide regarding Environmental, Social and Governance reporting requirements applicable in Romania, the Bucharest Stock Exchange mentions that, worldwide, integrating ESG criteria in major investors’ capital allocation decisions has been a prominent topic in the last few years.
When the experts taking part in the Office Panel held at CEDER 2023 were invited to share their views on strategies to maximize the value of investors’ projects when preparing them for sale, Laurențiu Lazăr, Managing Partner and Head of Investment at Colliers, Romania emphasized ESG as one of the main points that developers need to take into consideration. “We developed an ESG review, […] a short one and a longer one. And we are working with one developer right now just to prepare the property from this point of view, to know [how] to answer the questions. Because if a property is a prime property, they will get those questions for sure from now on.”
Marian V. Popa also confirmed that “ESG at the time being is something which is coming and has to be followed, exactly like artificial intelligence is coming and has to be followed. It is not a question if, it is just a question how.” He pointed out that in recent times, more reasonable financing options are ESG-linked, such as green bonds and ESG bonds. He went on to say that the regulation relating to this issue is stricter every day. “But the biggest pressure from all […] is that more and more tenants […] are putting a bigger accent on ESG requirements.”
