Sustainable real estate and construction
When it comes to achieving net zero goals, companies in the construction and real estate sectors have extraordinary potential to contribute through wide-scale change.
Globally, the built environment accounts for about 40% of energy use and about 30% of energy-related greenhouse gas emissions, according to the United Nations Environment Programme.
Reducing these figures entails extensive retrofitting and the application of new ESG building standards, such as LEED Platinum and BREEAM, the Home Performance Index.
Our deeply experienced Real Estate and Construction teams have deep experience in advising on emerging trends, compliance with the SFDR, CSRD and other standards, and how to integrate new practices and standards.
Our clients include major contractors, developers and financiers, and we have advised on many significant developments, including Ireland’s largest renewable energy projects. We also advise on green lending, green leases, sustainability and supply chain clauses, and the circular economy.
Developers and buyers are unquestionably facing ever more regulatory and contractual demands on sustainability and energy efficiency. The focus of those in commercial real estate is firmly on both green lease clauses and how to assess the environmental sustainability of a business.
Our specialist team has deep knowledge of the practical implications of green clauses, which aim to promote landlord/tenant co-operation, along with the overall legal and regulatory framework. That means we work with clients to achieve their ESG strategy and targets smartly for each asset.
Our Real Estate team also works closely with our Corporate, Finance and Asset management & Investment Funds practice groups to help ensure our clients meet the Taxonomy Regulation, the SFDR and the CSRD. We also support with green and sustainable borrowing, which is increasingly evident in property finance transactions.
With construction critical to broader green goals, it’s no surprise funders, developers, owners, contractors and other stakeholders are ever more focused on sustainability. They’re doubling down on retrofitting and using modern methods of construction and other sustainable build and operation practices.
They’re also keen to adopt green contract clauses on sustainability and energy efficiency, and know they must comply with the Taxonomy Regulation and the CSRD. Moreover, development finance transactions are increasingly involving green and sustainable loans.
Our expert team's deep understanding of the practical implications of each of these enables us to guide and collaborate with our clients on meeting LEED Platinum and BREEAM, as well as on contracts, supply chain clauses, green loans and more.
Experience
-
Owners and developers
on obligations to deliver developments meeting specified ESG specifications, such as LEED Platinum and BREEAM, the Home Performance Index.
-
Multiple real estate clients
Developing bespoke green lease clauses tailored to bespoke requirements.
-
Lenders
on green and sustainable lending matters.
-
EU Taxonomy compliance
the drafting of specific contractual requirements around EU taxonomy.
-
Circular economy
including the EU’s circular economy action plan and the Construction Products Regulation.
-
Retrofitting and upgrading
preparing contracts for the retrofitting and upgrading of existing buildings.
