The environmental, social, and governance (ESG) principles are no longer just a trend or a buzzword but are on track to become a norm in the real estate market in Romania.

In a period marked by increased awareness of environmental issues and heightened legislative oversight, the real estate sector is at a turning point. All involved parties must realign towards measurable and quantifiable ESG performance.

Colliers consultants emphasize that buildings that are not sustainable and fail to meet the new ESG criteria will have reduced chances of attracting important tenants, obtaining bank loans, or attracting the interest of renowned investors.

In this context, green certifications continue to be a benchmark in the ever-changing landscape of ESG regulations, highlighting a firm commitment from developers and owners to sustainable practices in the built environment.

Investments in green certifications are an important component supporting compliance with rigorous ESG regulations, enhancing credibility and attractiveness for all stakeholders.

Romania has recorded another successful year in 2023 in terms of LEED, BREEAM, WELL, and Access4you certifications, reflecting significant progress across various industrial, logistics, retail, and office sectors. Compared to previous years, including the pre-pandemic period when most green certifications were obtained by office buildings, their typology has become more balanced and diversified in 2022 and 2023.

Approximately 40% of green certifications (including those addressing the health and well-being of occupants) were obtained for office projects, which remain the primary category.

At the same time, around 33% of certifications were for industrial projects, while over 20% were for the retail sector. (Photo: Dreamstime)