Green Formula Capital attended the Nordic Real Estate Forum 2024!

NREF2024 offered a rich tapestry of discussions, with ESG practices in real estate. When we speak about real estate today, we inherently speak about ESG. So, here are some takeaways from the discussion:

The sector stands at the forefront of addressing some of the most pressing environmental challenges, underscored by the European Union’s ambitious roadmap. Vivian Loonela, Head of the European Commission representation in Estonia, highlighted the EU’s commitment to becoming neutral by 2050, with a specific target for the building sector to cut emissions by 60% by 2023. A stark reminder that buildings account for 40% of our energy consumption and over a third of greenhouse gas emissions.

From Sweden, Filip Elland, Chief Sustainability Officer at Castellum, shared insights into the evolving landscape driven by tenant demand for more efficient and sustainable assets. The challenge of new regulations, the need for standardization, and the emphasis on sustainable building materials during the development phase were key points. Elland’s perspective was a valuable reminder of the unique challenges and opportunities in the Nordic market, where renewable electricity and heating pave the way for innovative ESG strategies.

Evaldas Savickis, founder and CEO of Vesta Consulting in Lithuania, spoke on the growing demand for sustainability consultancy in the Baltics. The voluntary reporting of ESG results for branding and reputation, alongside the importance of technology solutions and education about green transitions, resonates with our commitment to ethical and transparent business practices.

Andres Tukk from Swedbank brought to light the complexities of ESG from a banking perspective, emphasizing the strong demand and need for ESG integration. His insights on navigating regulations and the critical role of education in renovations were particularly insightful.

The forum underscored a collective drive towards sustainability, innovation, and collaboration across sectors to meet the ambitious ESG targets. With eyes set on NREF2025 Green Formula Capital, we are inspired to continue pushing the boundaries of what’s possible in sustainable real estate!