• The agreement will lend support and impetus to the shift towards a sustainable future for the built environment, drawing on Castellana Properties’ insight and experience as a retail sector innovator

• The company plans to explore the potential of a platform created by GBCe as a tool for assessing its properties against the requirements of the European Taxonomy for Sustainable Activities

• In addition, Castellana Properties will work with GBCe on national and international research projects, to help lay the groundwork for decarbonising the sector

Castellana Properties, a listed company specialising in the retail sector, has teamed up with Green Building Council España (GBCe). GBCe is at the forefront of the Spanish construction sector’s sustainable transition and a member of the World Green Building Council (WorldGBC), a global network with a presence in more than 70 countries. The association also oversees VERDE and DGNB certifications in Spain and serves as a prominent advisor on sustainability to the Spanish government and the European Commission.

Both sides are keen that the partnership should further the construction sector’s progress towards a more sustainable model. A strong focus will be on developing tools and practices that help key actors evaluate and verify environmental performance throughout the building lifecycle. GBCe’s first SOCIMI member, Castellana Properties brings a wealth of experience and knowledge as an innovator in the retail sector, as well as an eagerness to throw its weight behind the association’s initiatives.

One such initiative is a platform developed in partnership with Green Building Councils around the world to help owners and operators assess a property’s conformance with the European Taxonomy of Sustainable Activities. The platform will be updated as new technical requirements are announced. In keeping with its deep-rooted commitment to sustainability and transparency, Castellana Properties will study the platform’s usefulness in generating data for its annual monitoring report, testing it across the company’s portfolio.

In parallel, the firm will have opportunities to take part in national and European research projects, led by GBCe with public and private funding. This research is directed at a variety of goals, from compiling performance data for gauging progress on decarbonisation, to measuring the impact of ESG criteria on property valuations.

Jorge Orondo, Senior Energy & Utilities Manager at Castellana Properties, remarked “Joining GBCe is another way for us to show our steadfast commitment to sustainability. We welcome the application of these evaluation criteria to our own properties, along with the requirements of the EU Taxonomy. Indeed, at Castellana Properties we have observed the need for new initiatives to gather data on how construction affects the environment. We look forward to contributing to GBCe’s projects and hope to make a real difference in the pursuit of decarbonisation”.