2024 Trends with Razvan Nica, BuildGreen

2024 Trends with Razvan Nica, BuildGreen

2024 Trends with Razvan Nica, BuildGreen 739 600 BUCHAREST REAL ESTATE CLUB


Razvan Nica, BuildGreen, Founder and Managing Director

Top 3 trends you foresee in 2024 for the ESG sector?

“Stronger ESG considerations in sustainable building:

  1. The role of ESG expands from basic reporting to a key pillar in business performance and development strategy.
  2. The publication of non-financial reports almost became a must, as well as the use of third-party verification to provide assurance on sustainability performance.
  3. Green building certifications incorporate more ESG metrics and changed their role from the main target in sustainable development, to a tool that helps developers in reaching more complex sustainability goals. “

Main challenges and opportunities in 2024?

“The definition of sustainable development continues to evolve from basic green building to complex goals beyond construction. The top sustainable building trends in 2024 are:

  • Decarbonization – the main driver worldwide.

The focus on decarbonization strategy and solutions continues to be the top priority worldwide, faced with global pressure on CO2 emissions. Every industry is transitioning to a low-carbon economy and the real estate market is among the top drivers. GHG reductions or elimination, nZEB pillars, net-zero energy solutions, renewable energy or smart building technology, recycled and reclaimed materials, increased use of sustainable materials and more green building solutions through nature are expanding.

  • AI enters the real estate market as a tool for sustainable building  

As Decarbonization covered virtually all ESG aspects and AI rapidly explored many fields of activity, 2024 marks the entrance of AI as a sustainability tool in the real estate market. AI solutions can help developers reach a faster and more exact path towards carbon neutrality – from simple ESG management, to accurate architectural plans or construction process in line with a specific project, location or development challenges.

  • Regulations boost corporate climate transparency

Top real estate developers want to become a benchmark in terms of sustainable development – by adhering to the guidelines of international organizations that set, monitor, audit or legalize the sustainability-related requirements at higher standards and more stringent actions. They add to strict legal packages such as SFDR, EU Taxonomy and the European Green Deal targets, intended to reorient financing and business to a more sustainable economy and drive toward net zero.

Last year, ISSB issued amendments to the Sustainability Accounting Standards Board (SASB) standards to enhance their international applicability. The amendments will be effective for annual reporting periods as of 1 January 2025, but concrete adjustments in sustainable development strategies will start this year.          

Overall, sustainability will continue its massive ascent on the development segment in 2024, as stakeholders demand more action on environmental and social issues, and businesses and governments respond to stricter demands imposed by politics and climate pressure.”

What are your company’s business targets in 2024?

“Our business targets for 2024 reflect our commitment to growth, with the ambitious goal of surpassing our previous year’s turnover of €8 million. In line with this, we are expanding our service palette, striving to offer comprehensive turnkey services across various segments, including banking, office, HoReCa, and residential. This expansion not only involves enhancing our project scope but also planning to grow our team by incorporating experts from various specializations. This strategic move is designed to enhance our capacity to handle a broader range of projects, thereby diversifying our expertise and reinforcing our market presence.

Our role as general contractors in boutique residential projects, where we construct villas for end beneficiaries, marks our venture into new territories and demonstrates our versatility and expertise. Alongside this, we are thrilled about our initiative in creating a boutique coffee shop and co-working space. This innovative project is much more than a physical space; it’s envisioned as a dynamic hub for business enthusiasts, fostering a community that’s deeply focused on design, learning, and growth.”