Real Estate Gazette: special edition — sustainability

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In the current economic climate, it is by no means unusual, or necessarily unhealthy, for a business to obtain short-term funding by making use of an overdraft facility. However, according to many environmental campaigners, we are operating in the red in a far more important sense — humanity is overspending on nature’s budget. The Earth has less and less in the way of raw materials to offer us. We have to use what is available more wisely. As a result, all those involved in the real-estate market need to work towards improved environmental practices for communities and corporations, better-informed public policy decisions, more effective use of our natural resources and innovative designs. Advancing sustainability, and the requirement to make office, retail and residential spaces eco-friendly, has become imperative.

DLA Piper’s lead article (page six) focuses on the need for sustainability throughout the lifecycle of a building, looking at the recurring legal issues that arise all over the world in the process of ensuring sustainability. One of these issues (the implementation of green leases) is taken up in more detail on page 30, where the Swedish approach to the use of green leases in commercial real estate is examined. Illustrating that environmental issues affect everyone involved in real estate, the other featured articles cover topics as diverse as subsidies introduced in Belgium to encourage the development of sustainable business parks (page 18); measures initiated in Denmark to help tenants benefit from reduced prices for electricity produced by sustainable energy plants (page 20); a recent court ruling in Poland that may well have an adverse effect on the continuing operation of wind turbines (page 26); and a new Environmental Protection Agency standard introduced in the US for Phase I environmental site assessments (page 34).

In addition, articles on Angolan investment funds (page 38), recent developments in Russia in the area of complex real-estate developments (page 66) and an examination of real-estate investment trusts (REITs) in Spain (page 70), among others, will ensure there is something of interest to all readers in this issue…

Click on the link below to read the rest of the DLA Piper briefing.