The Law Society Gazette quotes Cara Imbrailo on ESG considerations for the property sector
From net zero developments to green leases, ‘ESG’ has become part of the lexicon of the commercial property lawyer.
Cara Imbrailo, Partner, is interviewed by The Law Society Gazette for the publication's 'Build Back Better' feature.
Read some of Cara's insights below:
"The pandemic really galvanised the ESG [environmental, social and governance] agenda in the sector. Green lease clauses and ESG weren’t really widely discussed before 2019/20… but Covid made it an absolute essential. Landlords are now really looking at their portfolios. They are asking, “what do I need to do to make sure we are taking this seriously?” ESG is there at every stage of the property life cycle."
She also notes that green leases are now the market standard:
"We are advising a lot on green lease clauses. They are now the market standard – landlords have really jumped on them as a vital tool to deliver on ESG objectives. Wherever they may be on their sustainability journey, building green clauses into their leases is effectively future-proofing, giving them the framework to collect data and energy usage, undertake works in the future and build protections to ensure that the tenant cannot use the building in a way that would adversely impact its environmental performance."
Read the full feature in the Law Society Gazette here.