PwC’s Johannes von Richthofen explained the impact of the new EU Taxonomy of Sustainable Activities on the real estate sector.
He said it is necessary to understand the overall goal of the taxonomy which is to channel investments towards sustainability to achieve the European Union’s climate change goals and to meet the requirements of the Paris Agreement of 2015. The the taxonomy provides a framework by which all economic activity can be assessed in terms of its sustainability.
For real estate there are four major “strings” to the taxonomy, he explained to Real Asset Insight’s Richard Betts. Buildings that are not compliant could face limitations in terms of their potential investor universe he said.
Click on the video above to watch the full interview or listen to the podcast below.