Conclusion

As reflected above, new European regulations and directives in the field of sustainability will have significant impact on real estate enterprises in the short term. Real estate enterprises will have to work their way through the reporting requirements, sustainability qualifications and material requirements for their buildings. But even for enterprises for who real estate is not their core business, the sustainability requirements and reporting obligations to which (the use of) real estate is subject, will be of importance in relation to the real estate that is owned or used by these enterprises for the operation of their business. ESG will present challenges, in particular as regulations in this area are still evolving. We will continue to monitor these developments closely.

Since the most important ESG regulations and directives originate from the European Union, we as CMS follow developments not only in Amsterdam but with our colleagues throughout Europe. In a European context, we develop tools for our clients so that they can stay up-to-date. For example, CMS has recently introduced the Corporate Sustainability Due Diligence Directive-Navigator, a tool that enables our clients to assess whether and to what extent their enterprise and supply chain are compliant with the CSDDD. CMS also published the ESG “Roadmap to Social Profit” in collaboration with the Dutch Society of Corporate Counsel (Nederlands Genootschap van Bedrijfsjuristen (NGB)). In addition, we organize seminars on ESG on a regular basis.

If you would like to stay up to date on the latest developments, or are interested in attending one of the ESG seminars, please let us know and contact us.