Disruption ahead for those not yet aligned with ESG principles
Although interest rates have become one challenge for all areas of the business, ESG is also disruptive and investors’ and banks’ responses to the new regulations mean that it will soon be impossible to buy a product which is not ESG compliant according to Adrian Karczewicz, head of divestments CEE, Skanska Commercial Development Europe.
“So it’s something which will totally change the market,” he said. However, Skanska has been conscious of the environmental sustainability of its buildings for some time.
“Basically, from 2002 we have been reporting sustainability factors to our investors. Today you call it ESG but we have been doing this for 20 years,” he said.
The company has developed various solutions such as concrete which emits much less CO2, concrete which absorbs polluted air in town centres, photovoltaic panels LED lighting and facades which absorb energy from and reduce the air conditioning load and heat pumps that decrease dependency on fossil fuels.
Skanska was also an early adopter of the social aspects of ESG. “Again, this started many years ago We were always talking to communities around our developments, our neighbours, cities municipalities, developing bike paths, developing transportation solutions around our places,” Karczewicz said.
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