{"id":2927,"date":"2023-03-01T11:34:27","date_gmt":"2023-03-01T10:34:27","guid":{"rendered":"https:\/\/www.x-project-ag.com\/?p=2927"},"modified":"2024-01-30T09:20:27","modified_gmt":"2024-01-30T08:20:27","slug":"x-project-ag-and-king-spalding-llp-review-compliance-with-eu-esg-requirements","status":"publish","type":"post","link":"https:\/\/www.x-project-ag.com\/en\/press-release\/x-project-ag-and-king-spalding-llp-review-compliance-with-eu-esg-requirements\/","title":{"rendered":"x.project AG and King & Spalding LLP review compliance with EU ESG requirements"},"content":{"rendered":"\n

For the first time, taxonomy compliance confirmations for real estate portfolio holders<\/strong><\/p>\n\n\n\n

The real estate and IT specialist, x.project AG, and the international law firm, King & Spalding LLP, are starting to review the compliance of real estate with the EU Taxonomy Regulation. For this purpose, the partners have developed a Compliance Report. This will be the first time that real estate portfolio holders and investment fund companies receive an external confirmation of their compliance with the EU\u2019s ESG requirements.<\/p>\n\n\n\n

During the long-term cooperation between the two partners, the engineers and technology specialists of x.project AG will handle the individual reviews \u2013 such as those pertaining to the energy-efficient building structure, the resource-saving design of the technical building equipment, the recording of consumption values and the use of raw materials in new buildings. The legal reviews are carried out by the lawyers at King & Spalding. Subsequently, a statement on the level of compliance with the EU Taxonomy Regulation will be issued.<\/p>\n\n\n\n

\"\"<\/figure>
\n

“The real estate market\u2019s need for a technically and legally integrated ESG review with confirmation of compliance is enormous. Furthermore, although we have been able to carry out ESG reports to date \u2013 for example, with regard to technical requirements with the environmental criteria \u2013 this has, however, not included confirmation of conformity in accordance with the requirements of the EU Taxonomy Regulation. This is now possible with immediate effect,”<\/em>explains Holger Weber, CEO of x.project AG.<\/p>\n<\/div><\/div>\n\n\n\n

\n

“For a holistic review that sheds light on the level of compliance of real estate investments with EU taxonomy, the real estate industry requires \u2018ESG audits\u2019 in which technicians and lawyers work hand in hand,”<\/em> explains Dr. Axel J. Schilder, Lawyer and Office Managing Partner of King & Spalding\u2019s Frankfurt office. “We are all the more delighted by the work together with x.project AG.”<\/em><\/p>\n<\/div>

\"\"<\/figure><\/div>\n\n\n\n

Going forward, the Compliance Report will also be updated in terms of other environmental objectives besides climate change mitigation and the climate change related adaptation of the EU Taxonomy Regulation, and is particularly relevant for so-called impact funds according to Article 9 and for ESG strategy funds according to Article 8 of the EU Sustainable Finance Disclosure Regulation (SFDR), which have or strive for a minimum share of \u201csustainable investments\u201d. The report can also be relevant for companies with real estate holdings. This is because, in addition to financial reporting, they may, in future, also be obligated to report on sustainability in accordance with Article 8 of the EU Taxonomy Regulation. The two cooperation partners will start ESG reviews in accordance with the EU Taxonomy Regulation in spring 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

Press release<\/b>
\nThe international law company King & Spalding LLP and we are starting to review the compliance of real estate with the EU Taxonomy Regulation.<\/p>\n","protected":false},"author":8,"featured_media":2366,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[],"class_list":["post-2927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"_links":{"self":[{"href":"https:\/\/www.x-project-ag.com\/en\/wp-json\/wp\/v2\/posts\/2927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.x-project-ag.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.x-project-ag.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.x-project-ag.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.x-project-ag.com\/en\/wp-json\/wp\/v2\/comments?post=2927"}],"version-history":[{"count":0,"href":"https:\/\/www.x-project-ag.com\/en\/wp-json\/wp\/v2\/posts\/2927\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.x-project-ag.com\/en\/wp-json\/wp\/v2\/media\/2366"}],"wp:attachment":[{"href":"https:\/\/www.x-project-ag.com\/en\/wp-json\/wp\/v2\/media?parent=2927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.x-project-ag.com\/en\/wp-json\/wp\/v2\/categories?post=2927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.x-project-ag.com\/en\/wp-json\/wp\/v2\/tags?post=2927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}