Record number of Due Diligence Update participants:
This year’s edition of the ‘Due Diligence Update – Legal and Technical Topics and Trends’ event, jointly hosted by Drees & Sommer and HEUKING KÜHN LÜER WOJTEK, took place on May 19, 2021. This time the focus was on the Green Deal, the EU taxonomy, and ESG in practice.
More than 450 external participants followed the panel discussion and debated the current status of implementation of the EU Action Plan and its impact on the commercial real estate transaction market.
The following representatives of the real estate industry attended:
- DR. ANNE DE BOER, HEUKING KÜHN LÜER WOJTEK
- DR. ANNE BRAUNE, GERMAN SUSTAINABLE BUILDING COUNCIL (DGNB)
- CLAUDIO TSCHÄTSCH, DREES & SOMMER
- DANIEL CHANG, HINES
- DOMINIK STRAKA, DREES & SOMMER
- DR. FRANK BASSLER, HEUKING KÜHN LÜER WOJTEK
- CHRISTIAN GIRKE, LANDESBANK BADEN-WÜRTTEMBERG
- PROF. DR. GÖÖTZ, DREES & SOMMER
The highlights and key takeaways from the discussion were:
- There is huge potential in the real estate sector for reducing carbon emissions. Even today, noticeable reductions can be achieved by taking simple measures (such as an energy audit, intelligent measuring, Green Lease, etc.).
- In the long term, it will be difficult to justify real estate investments or obtain attractive financing without compliance with the EU Taxonomy.
- The strong focus on environmental goals is gradually being supplemented by social and corporate policy aspects. Fair rents and appropriate management compensation structures are aspects of a new, holistic ESG strategy.
- The legal framework is currently in flux. The players want clarity and planning certainty for the future.
- The narrow goal of simply achieving climate neutrality by 2045 leaves too many questions unanswered. All participants held the view that a clear political target would make the ambitious climate goals achievable.
- The younger generation, the YOUNG professionals, are already demanding a climate-neutral future.
You can access the introductory slides on the topic here.
Dominik Eberle (Graphic Recording) provided graphic support for the event.
In keeping with the motto ‘Shaping the future yourself’, participants were given the opportunity to try outlining initial steps with the experts after the panel discussion.