Key Highlights: 

• New Scope: Reporting is now focused on companies with over 1,000 employees and €450M turnover while smaller companies can voluntarily report their Taxonomy alignment. 
• "Alignment Gap": The significant gap between the eligible and aligned activities in the Belgian real estate sector and how closing it represents a major strategic opportunity.
• "Green CapEx Plan": How many market leaders are now using forward-looking CapEx plans to communicate their future strategy to investors and how assurance is adding credibility to these plans.
• Prerequisite for Green Finance: Why a robust, assured EU Taxonomy report is increasingly becoming a prerequisite for securing green loans and issuing sustainable bonds.
• A Leader's Playbook: A clear view of the best practices that differentiate market leaders, from building internal playbooks to leveraging integrated technology.

Strategic Value of EU Taxonomy 

The EU Taxonomy evolves from a compliance document into a strategic compass which can be used internally to drive better business decisions, enhance resilience, and add credibility to the overall corporate sustainability strategy. It provides a science-based compass to guide CapEx decisions, helping in distinguishing between future-proof green investments and those at risk of becoming 'stranded assets', while the 'Do No Significant Harm' (DNSH) criteria constitute a best-in-class risk management tool. Furthermore, EU Taxonomy disclosures can be seen as carrying the same level of importance as GHG emissions data and, just as market leaders have long sought independent assurance on their carbon footprint, seeking assurance on EU Taxonomy KPIs is poised to become the new standard for credible corporate sustainability reporting—providing the proof behind your green strategy. 

Meeting Market Demands 

In today's market, the most significant pressure to adopt the EU Taxonomy comes directly from the commercial and financial ecosystem. Belgian banks, now required to disclose their Green Asset Ratio (GAR), are actively prioritising financing for companies that can provide robust, assured Taxonomy data. Simultaneously, asset managers, driven by the Sustainable Finance Disclosure Regulation (SFDR) to report on their portfolios' sustainability, making real estate companies’ Taxonomy alignment crucial for attracting the rapidly growing pool of ‘green’ capital. This commercial pressure extends to tenants, as large corporate users with their own CSRD obligations actively seek verifiably "green" spaces, making Taxonomy-aligned buildings more attractive and valuable assets in the leasing market. 

EU Taxonomy in Practice 

The EU Taxonomy provides a practical playbook for the real estate sector, mapping activities such as development and investment, revenue generation, and portfolio operations. It requires meeting specific energy performance criteria and ensuring activities do not harm other environmental objectives. However, even experienced reporters face common hurdles in data availability and quality, criteria interpretation, and strategic integration. Our document demonstrates how these challenges can be transformed into significant opportunities: by building robust data governance systems to create portfolio intelligence, developing internal playbooks to ensure consistency, and embedding your Taxonomy performance into your financial strategy to unlock competitive financing. 
 

Benchmark Insights 

Observing the alignment gap in the Belgian real estate benchmark reveals key insights. Leading European real estate firms signal their commitment to improving Taxonomy alignment through forward-looking CapEx plans and increasingly linking management incentives directly to Taxonomy-related goals. Furthermore, they use the EU Taxonomy framework to bring structure to their entire sustainability strategy. Crucially, they understand that credibility is key: independent, third-party verification is treated as essential, and a robust Taxonomy profile is used as a primary tool to unlock access to green finance.  
 

Best Practices from Frontrunners 

Our analysis shows that frontrunners move beyond basic compliance by embedding several key best practices into their process. They develop a clear and compelling narrative around their Taxonomy KPIs to proactively engage investors and secure green financing. To ensure this narrative is credible, they seek limited assurance on their disclosures and build a robust foundation by engaging technical experts early in the process. Furthermore, they extend their due diligence into the value chain, for example, by inserting minimum-social-safeguard clauses into their supplier agreements to manage risk and ensure compliance.  
 

Unlock the Full Potential of the EU Taxonomy 

Translate your complex EU Taxonomy data into a clear and credible narrative that resonates with investors, banks, and tenants. Our end-to-end EU Taxonomy services are designed to help you build a robust, assurance-ready process that meets the highest standards of stakeholder scrutiny. Join the growing number of Belgian real estate leaders who have enhanced their reporting with our tailored, assurance-led guidance. Let us help you transform your Taxonomy reporting from a complex obligation into a powerful tool for value creation. Navigate the future with confidence and precision.