@article{ART003117620},
author={Choi, Myung-Hwan and Kim, Sang-Jin},
title={Study of green and sustainability-linked loans in the real estate sector through CRREM (Carbon Risk Real Estate Monitoring) as an ESG tool},
journal={Legal Theory & Practice Review},
issn={2288-1840},
year={2024},
volume={12},
number={3},
pages={89-123}
TY - JOUR
AU - Choi, Myung-Hwan
AU - Kim, Sang-Jin
TI - Study of green and sustainability-linked loans in the real estate sector through CRREM (Carbon Risk Real Estate Monitoring) as an ESG tool
JO - Legal Theory & Practice Review
PY - 2024
VL - 12
IS - 3
PB - The Korea Society for Legal Theory and Practice Inc.
SP - 89
EP - 123
SN - 2288-1840
AB - This is because regulatory compliance, one of the key drivers for developing ESG standards within the real estate sector, is both an opportunity and a serious challenge. As new ESG and sustainability disclosure standards are implemented globally, real estate investors are already facing the complexities and potential challenges of adapting to the new regulations. At the same time, related topics such as climate change and climate risk are likely to dominate real estate sector discussions, as long-term climate goals may be reassessed to address short-term emergencies.
As we all know, the real estate industry is responsible for approximately 37% of CO2 emissions and has a significant impact on our daily lives. To meet the EU's climate and energy targets for 2030 and meet the goals of the European Green Deal, a growing number of real estate organizations are committing to sustainable climate goals, including zero emissions and keeping global warming below 1.5 degrees Celsius.
CRREM is an initiative to drive significant energy savings in buildings to maintain the climate goals of the Paris Climate Agreement. CRREM looks at the energy use and operational CO2 emissions of buildings and portfolios. A path has been established for the commercial sector to maintain each country's 1.5-2 degree carbon budget. CO2 emissions and consumption must be below the decarbonization pathway line to avoid being classified as stranded assets. CRREM's main objective is to contribute to increasing energy efficiency investments in the real estate sector by addressing the need to better understand the negative risks of climate change to real estate.
In this article, I review ESG experts in the Real Estate and Finance Working Group, who regularly share insights on ESG topics from a real estate perspective. Together with the ESG Focus Group, which consists of various working groups and domestic market experts, I support the convergence of the practical world and academia by combining ESG expertise, project and transaction advice, and transaction and litigation experience.
KW - environment;society;governance;carbon risk;real estate;sustainability;loan.
DO -
UR -
ER -
Choi, Myung-Hwan and Kim, Sang-Jin. (2024). Study of green and sustainability-linked loans in the real estate sector through CRREM (Carbon Risk Real Estate Monitoring) as an ESG tool. Legal Theory & Practice Review, 12(3), 89-123.
Choi, Myung-Hwan and Kim, Sang-Jin. 2024, "Study of green and sustainability-linked loans in the real estate sector through CRREM (Carbon Risk Real Estate Monitoring) as an ESG tool", Legal Theory & Practice Review, vol.12, no.3 pp.89-123.
Choi, Myung-Hwan, Kim, Sang-Jin "Study of green and sustainability-linked loans in the real estate sector through CRREM (Carbon Risk Real Estate Monitoring) as an ESG tool" Legal Theory & Practice Review 12.3 pp.89-123 (2024) : 89.
Choi, Myung-Hwan, Kim, Sang-Jin. Study of green and sustainability-linked loans in the real estate sector through CRREM (Carbon Risk Real Estate Monitoring) as an ESG tool. 2024; 12(3), 89-123.
Choi, Myung-Hwan and Kim, Sang-Jin. "Study of green and sustainability-linked loans in the real estate sector through CRREM (Carbon Risk Real Estate Monitoring) as an ESG tool" Legal Theory & Practice Review 12, no.3 (2024) : 89-123.
Choi, Myung-Hwan; Kim, Sang-Jin. Study of green and sustainability-linked loans in the real estate sector through CRREM (Carbon Risk Real Estate Monitoring) as an ESG tool. Legal Theory & Practice Review, 12(3), 89-123.
Choi, Myung-Hwan; Kim, Sang-Jin. Study of green and sustainability-linked loans in the real estate sector through CRREM (Carbon Risk Real Estate Monitoring) as an ESG tool. Legal Theory & Practice Review. 2024; 12(3) 89-123.
Choi, Myung-Hwan, Kim, Sang-Jin. Study of green and sustainability-linked loans in the real estate sector through CRREM (Carbon Risk Real Estate Monitoring) as an ESG tool. 2024; 12(3), 89-123.
Choi, Myung-Hwan and Kim, Sang-Jin. "Study of green and sustainability-linked loans in the real estate sector through CRREM (Carbon Risk Real Estate Monitoring) as an ESG tool" Legal Theory & Practice Review 12, no.3 (2024) : 89-123.
