The funnel is tightening! New sustainability regulations impact performance and viability of commercial assets

According to Luiza Junqueira, one of the most significant changes is the growing requirement for sustainability reporting, which now demands concrete data from companies rather than just institutional messaging.

Metrics such as energy intensity, carbon emissions, water consumption, operational efficiency, and asset resilience are beginning to be systematically monitored and reported to the market.

“This forces the real estate market to look at these issues more deeply. It is no longer enough to talk about sustainability or present certifications. Now it is necessary to measure and report real data,” explains Junqueira.

Another important point is that these requirements are not limited to large corporations or publicly listed companies. Entire corporate value chains are being impacted, including subsidiaries and business partners.

For Eduardo Straub, ESG has also been consolidating as an important risk management tool for investors and stakeholders.

According to him, companies that adopt consistent sustainability strategies tend to demonstrate a greater ability to adapt to regulatory, environmental, and economic changes.

“When investors analyze a company that takes ESG seriously, they see an organization that is focused on the long term, not just immediate profit, but on long-term resilience,” says Straub.

This perspective also influences investment decisions in real estate, where asset analysis is moving beyond traditional factors such as location or rental value.

The new wave of regulation is also putting pressure on existing buildings, especially those developed before sustainability practices became widespread.

In this context, retrofitting—upgrading older assets to more efficient standards—is gaining prominence.

According to Junqueira, assets that fail to keep up with this evolution may face increasing obsolescence risks.

“The market is starting to discuss concepts such as green premium and brown discount. In other words, sustainable assets may gain additional value, while inefficient assets may suffer devaluation,” she explains.

This trend is already common in more mature markets, particularly in Europe, and is gradually emerging in Brazil, especially in major urban centers such as São Paulo, Rio de Janeiro, and Belo Horizonte.

Another element gaining importance is the role of environmental certifications.

Beyond serving as a quality seal, they help standardize communication regarding building environmental performance.

In practice, many companies—especially multinationals—already have internal policies that restrict occupancy to certified buildings.

Straub notes that he has witnessed cases where developments lost tenants precisely because they lacked environmental certification.

“Sometimes a building is competitive in many aspects, but without certification it fails to meet certain companies’ internal criteria.”

Beyond energy and water efficiency, other dimensions of sustainability are also gaining space in the corporate real estate market.

These include user well-being strategies such as natural lighting, proper ventilation, green areas, and biophilic design elements.

According to Straub, healthier environments can directly impact corporate indicators such as productivity, employee satisfaction, and turnover reduction.

“When people feel good in their work environment, it affects mood, performance, and even metrics such as absenteeism and healthcare costs.”

These factors, although often intangible, are increasingly being incorporated into the metrics required by new sustainability regulations.

Despite regulatory advances, the adoption level of sustainable practices in the Brazilian real estate market remains relatively low.

According to Junqueira, estimates indicate that only around 16% of the country’s construction sector is effectively engaged with the topic.

However, this scenario may change rapidly.

The combination of new regulations, investor pressure, multinational requirements, and evolving climate policies is expected to accelerate the sector’s transformation.

“ESG has definitively moved beyond marketing. It is now becoming part of financial reporting and corporate performance metrics.”