Industry unity needed in the face of new environmental law
In the face of a growing body of complex environmental laws and regulations in Europe, real estate investors need to work together in order to establish benchmarks and best practices according to Jan Kristian Westerlund, chief commercial officer at indoor climate management specialist Freesi.
“There is new legislation coming out from European Union, some of it is still incomplete, and real estate owners and managers are having difficulties understanding what they need to do when they look into the future,” he told Real Asset Media.
“For example, the implication of the new Energy Performance of Buildings Directive that just came out this April is that all non-residential buildings need to be equipped with monitors for indoor air quality and controls for sustaining a high quality environment for the people inside.”
He said this means that refurbishments now need to have this along with new builds and all existing assets need to be upgraded.
“That is a major undertaking for any real estate owner or manager and what I’m hoping is that they will start strategising together, finding benchmarks and best practices within the industry to help each other, because we all have to get there.”