Although the current high energy costs are a challenge for the sector, they also provide an opportunity to accelerate ESG initiatives. Energy efficiency has always been important for Multi. Back in 1999, we were a frontrunner in ESG with the development of the European headquarters of Nike in the Netherlands, acclaimed as the greenest office building in the world at that time.
Over the last few years, we have intensified our ESG initiatives and the current high energy costs have significantly reduced the earn back time for energy efficiency investments. Last year, we implemented an energy saving project at Forum Palermo, in Italy. This included installation of a new 500 kWp photovoltaic park, a new electric car charging station and a replacement of the Building Management System, while at Espacio Léon in Spain we are kickstarting another solar power project.
The energy crisis provides the perfect opportunity for new ESG initiatives, and we are seeing this also through the sharp increase in requests Multi receives from clients to advise on ESG strategies. Energy efficiency investments do really have a benefit for the environment, the tenants through lower utility and service charges, and landlords as it optimizes net rental income.
Read more about expert opinions in our Online Special: “Industry Outlook 2023”.
