“In recent years, the pandemic has also highlighted the importance of the quality of our built environment in safeguarding our health, which is why Budapest Airport [BUD] has reviewed and further developed its processes for a safe passenger experience with a focus on health protection and emergency preparedness,” the airport operator explains.
“This means the airport operator is taking all measures to prepare for the rapid and effective management of any emergency, be it a pandemic or any other experience that could potentially threaten the safety of aviation and passengers,” BUD says.
“To examine these processes and to demonstrate its crisis resilience from as many aspects as possible, Budapest Airport applied for the rigorous accreditation process required for the international Well Health and Safety accreditation,” the operator ads.
The rating is designed to support business owners and operators in protecting health. Awarding the Well Health and Safety seal is a sign of a company’s commitment to the health and well-being of staff and visitors to its building. The process is typically targeted by office operators but is spreading to other commercial real estate sectors, such as industrial/logistics. BUD is one of the first airport operators to have submitted itself to the rating process.
“The airport terminals are a special area from a health and safety perspective, with more than 50,000 passengers passing through every single day and with staff on duty 24 hours a day. Operating a busy facility like this, which accommodates people from many different places, requires a lot of attention and expertise, and in many cases special equipment,” comments Lászlo Eiszrich, chief technical officer at BUD.
“During the rating process, we had to meet strict criteria; in addition to the cleanliness of the terminals, air and water quality, the experts also examined the crisis resilience of Budapest Airport’s strategy in the event of a possible emergency,” he adds.
Hungary’s industrial park developers and operators are increasingly developing sustainability-accredited projects in reaction to changing tenant demands and environmental regulations. CTP is now committed to developing Breeam-accredited buildings throughout its Central European logistics portfolio. HelloParks, part of the Futureal Group, is developing according to the New Construction category of Breeam to achieve an “Outstanding” rating and comply with EU Taxonomy requirements in its industrial halls in Hungary. Panattoni is looking to add energy-efficient solutions to its products, such as solar panels, electric vehicle charging facilities, and heat pump systems. It aims for Breeam “Excellent” New Construction accreditation as a standard for its products in Hungary. Prologis is developing its parks to at least Breeam “Very Good” standards. Belgium’s VGP says it is committed to becoming carbon neutral by 2025. It is also seeking Breeam/DGNB certification and green power generation across its European portfolio, including six parks in Budapest and provincial hubs across Hungary. In addition to sustainable energy, VGP wants all its parks equipped with EV charging facilities and access to public transport.
The Urban land institute (ULI), European Association for Investors in Non-Listed Real Estate Vehicles (Inrev), and Principles for Responsible Investment (PRI) have undertaken what they describe as a ground-breaking study that maps out the evolving landscape for ESG regulation. “There is no one-size-fits-all reporting standards, and this is not expected to change in the short- to medium-term, as ESG is so broad and complex it will continue to evolve as social knowledge grows and social norms become more widely accepted,” says the report. It aims to help real estate navigate the growing myriad of ESG regulations and reporting standards.
Hungarian Minister for Agriculture István Nagy is to attend the two-day AIM (Agriculture Innovation Mission) for Climate Summit in Washington DC in May. The U.S./UAE-led event is supported by 47 countries, including Hungary, and 275 NGOs. John Kerry, U.S. Special Presidential Envoy for Climate, and former U.S. Vice President and climate change activist Al Gore will also attend. The summit “aims to raise ambitions, build collaborations and share knowledge on climate-smart agriculture and food systems innovation in the lead-up to COP28.”
The listed Hungarian solar energy company NAP Nyrt. has purchased three solar parks with a combined capacity of 2.5 MW, according to an announcement on the Budapest Stock Exchange website. NAP already has 70 solar parks in its portfolio with a total capacity of 36 MW. The company aims to expand this to 100 MW by the year’s end.
This article was first published in the Budapest Business Journal print issue of April 21, 2023.
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