What will you find out from this interview:

  • The 3 pillars for ESG Development in Colliers and the optimisation of the impact on the environment through their own operations and those from their partners.
  • Wellbeing for their employees is a key strategy on the long term for any company with a fair ESG policy.
  • The real estate industry challenges regarding sustainability - now and 10 years ago.
  • 100 projects in which Colliers was involved and how they improved the sustainability practices in the real estate area.
  • ESG will become mandatory for all companies.
  • If we are talking about the built environment, sustainability was improved in the last 10 years through green certifications and international standards such as LEED and BREEAM”
  • ESG specialists will have to improve their expertise step by step.

ESG objectives for Colliers on a regional level

The regional ESG strategy is aligned to the strategic plan of Colliers, named „Elevate the Built Environment”, with local implementation particularities for each pillar. This was conceived to account for all the best ESG practices for the entire organisation.

  • Elevating the Environment - We will minimise the impact on the environment through Colliers own operations, but also through services offered to our clients to improve the health of our planet.
  • Elevanting Inclusiveness - We will improve diversity, equity and inclusion in Colliers and in the company's acquisitions.
  • Elevanting Health & Wellbeing - We will promote health and wellbeing in Colliers and through client services to improve quality of life.

ESG beyond Environment

Sustainability seems to be the most important when we talk about ESG, especially because the built environment is one of the key factors in protecting the environment. We, through the nature of our services, have a direct impact.

Our company DNA is based on an ethical culture, compliance and integrity. So it was natural to lay the groundwork for governance criteria.

When talking about the "social" aspect, there has always been a concern inside the company for the health and wellbeing of both our employees, but also for society's health and the impact we could have there. By setting specific goals and articulating a better strategy, we will be able to effectively monitor how we meet the criteria related to social issues.

Real estate companies challenges to reach the ESG goals

The first challenges on the market appeared 10 years ago and were related to the lack of information, basic knowledge, specialists and good practices.

There were also budgetary constraints, especially since the implementation and adoption of certain construction practices came with additional costs. But as the years went by and more and more green buildings were developed or the existing portfolio was improved in terms of sustainability. So the practices began to fit into the traditional procedures of a real estate developer or owner.

For a consultant in the real estate market, the challenges were reduced, because we approached the topic of sustainability years ago. Colliers is the only real estate consulting firm in Romania with a history of over 10 years in offering active consulting in the field of green or health certifications. We were able to see the impact in sustainability through over 100 projects (more than 3 million square meters built) that we worked on.

Also, having an internal know how in obtaining accreditations such as LEED AP, WELL AP or BREEAM Assessor, it's not difficult to practice what we preach. Recently, we also obtained the WELL Health-Safety for our office space.

At the moment, given the changes in European legislation, the decarbonisation targets for the built environment and the improvement in energy efficiency, the challenges will be bigger. Owners and developers will need to pay more and more attention at their carbon footprint throughout the entire lifecycle of the building, but also to come up with concrete strategies to implement them, as to reduce emissions and reach Net Zero until 2050.

How to train your employees in the ESG field

By implementing the EU taxonomy and the Corporate Sustainability Reporting Directive, ESG will become mandatory for companies in Europe starting in 2022. It's just natural to wish that every consultant, from each business line, have a solid foundation in terms of concepts, methods and risks associated with ESG.

Therefore, the ESG education program in Colliers aims at two aspects. First, the global ESG framework, with the local characteristics and also, secondly, the added value that we can bring through our consulting services in which we incorporate the ESG knowledge.

How to involve your employees in ESG strategies

For me, what I do is not just a job, but a way to have a significant impact on what surrounds me and on what the future generations will inherit. And I'm sure my colleagues feel the same way.

For example, our new office layout is a good example of our colleagues' engagement. It is an arrangement coordinated by our technical team, but designed following the feedback from our colleagues through a series of customised surveys, resulting in a warm place, where we are happy to come, knowing that each area of the office has its unique story.

The ESG strategy will need to include some non-negotiable issues, as required by international regulations or investors requirements. As long as the ESG strategy is not just a simple list of criteria, but a result of discussions, exchanges of ideas, questionnaires among colleagues, the more its implementation will come naturally and with pleasure.

Mistakes made by companies when it comes to ESG

Companies have already adopted ESG related policies and they learn, year by year, what needs to be changed, adapted so that it makes sense for the entire organisation. Although many of these policies already existed before, now, by creating the ESG framework, they can be more easily tracked, evaluated, audited and to come up with improvements.

The profile of a future ESG specialist

It depends on the profile of the company in which you want to incorporate ESG criteria. In a real estate company, for example, is important for the specialist to have a sustainability background.

If we talk about the built environment or real estate in general, sustainability has been seen in the last 10 years in Romania through green certifications such as LEED and BREEAM. Personally speaking, the know how obtained in the 10 years of consulting provides me with a solid basis in understanding and being able to analyse in detail all the complex aspects that make up the E in ESG.

When talking about social and governance aspects, there will always be a coordination between HR, Marketing, Legal and Compliance, for sustainability it is vital to have a proven experience as an expert. At the same time, the industry knowledge, the business experience and the leadership skills will play a very important tole.