At the Bucharest Business Forum, organized by Property Forum, Răzvan Nica, CEO and Managing Director of BuildGreen, offered a comprehensive perspective on how the real estate industry must evolve in the face of intensifying ESG requirements and sustainability expectations. With over 15 years of experience in sustainable building consultancy and certifications, Răzvan’s intervention drew a clear line between the early days of green real estate and the new era of performance-driven, data-backed ESG leadership.
CSRD and the data challenge
One of the most pressing topics at the forum was the complexity of CSRD compliance. Răzvan Nica noted that while the directive represents a major step toward transparency and accountability, it also introduces significant challenges. The volume of required data is high and much of it is difficult to access or aggregate, particularly in the early stages of adoption. Still, he expressed optimism that processes and tools will become increasingly streamlined as the industry adapts.
Life Cycle Assessment and embodied carbon
A critical advancement in sustainable building practice has been the integration of Life Cycle Assessment (LCA) methodologies into certification systems. Introduced nearly a decade ago, LCA provides a holistic view of a building’s environmental impact, with a special focus on embodied carbon, which accounts for more than 50% of total emissions throughout a building’s lifecycle.
However, calculating embodied carbon is far from simple. It requires detailed collaboration across the supply chain and complete transparency from contractors and suppliers. While emissions data typically falls under the contractor’s Scope 1, 2 and 3 categories, it ultimately contributes to the developer’s Scope 3, making it a key element in long-term ESG planning.
Green leases and operational collaboration
Another focal point of the discussion was the rise of green leases and the changing dynamic between landlords and tenants. Operational emissions, particularly those generated by tenants, are gaining visibility, with an increasing number of occupiers requesting specific carbon thresholds and performance commitments.
This shift reflects a broader trend: sustainability is now a shared responsibility. Just a few years ago, it was largely the domain of landlords and developers. Today, it is embedded into leasing structures, tenant relationships, and operational management.
Răzvan Nica emphasized that much of the relevant data exists as early as the design phase. The challenge lies in extracting, mapping, and using it effectively, a task in which AI and data analytics can play a transformative role. Smart digital tools can identify gaps, inform design adjustments, and support real-time performance monitoring.
ESG performance and capital markets
Beyond environmental and operational outcomes, good ESG performance has a direct impact on financial access and credibility. As Răzvan Nica explained, companies that demonstrate measurable progress in sustainability enjoy better positioning with investors and lenders.
This alignment between sustainability performance and capital strategy will continue to shape the investment landscape. ESG is no longer just a reputational asset, it is a gateway to capital and a metric of resilience in a rapidly changing world.
BuildGreen remains committed to guiding the real estate sector through this transformation, by offering deep expertise in certifications, lifecycle analysis and carbon strategy, and by empowering stakeholders to make sustainability both actionable and measurable.
