At the turn of 2022 and 2023, the Polish Chamber of Commercial Real Estate (PINK) began work to harmonize ESG standards considered when making financing and investment decisions in real estate. As part of this work, the "Green Financing" Working Group was established, bringing together representatives of PINK member companies and several banks operating in Poland and abroad. They held a series of meetings to exchange experiences in assessing real estate from a sustainability perspective, determine the current status of incorporating ESG aspects in investment decisions, and determine further steps towards the commonality of ESG assessment criteria for real estate. A summary of the Working Group's activities implemented in 2023 was included in the article "ESG Criteria: New Challenges for Banks and Requirements for the Real Estate Sector," which is part of a publication jointly issued by the Polish Chamber of Commercial Real Estate (PINK) and the Polish Council of Shopping Centers (PRCH). „"ESG for Commercial Real Estate. Selected Issues and Practices"”.
In the first half of 2024, the Working Group undertook activities aimed at collecting and summarizing ESG criteria stemming from European regulations directly related to real estate valuation. This article is the result of this work.
We would like to thank the experts from the Green Financing Working Group established by the Polish Chamber of Commercial Real Estate (PINK), in particular the representatives of the banking sector and industry organizations: PINK, POLSIF and PRCH, for their valuable substantive contribution and sharing their practice.