Businesses renovate office spaces at a historic pace, China plans to build a 3D-printed hydropower dam without human workers, the U.S. infrastructure package has thousands of projects underway, and more.
Do Municipal Gas Bans Slow the Clean Hydrogen Transition in Real Estate?
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Clean hydrogen has the potential to play a significant role in the energy transition by serving as a carbon-free form of energy storage and heat production. In real estate, hydrogen could provide heating, replace or supplement natural gas in many applications, or store excess rooftop solar power. The United Kingdom, United States and Japan are all homes to pilot projects attempting to scale out hydrogen for use in communities.
5G Technology and the IoT Introduce New Regulatory and Security Concerns for Developers
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Over the last several years, the proptech movement has become entrenched in the lexicon of the real estate industry as developers use the term as a catch-all term for using technology in the construction of new commercial buildings and begin planning for Smart Cities. The various technologies incorporate wireless sensors, broadband service and other cloud-based applications to reduce energy costs, improve transportation and enhance security.
Smart Building and Smarter Protocols: Mitigating IoT Cybersecurity Risks in Commercial Real Estate
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From our homes to our workplaces, the deployment of smart technology is becoming increasingly prevalent. The Wall Street Journal notes that smart-building-related companies raised $2.88 billion in venture capital in 2021. In previous posts, we’ve discussed the increased use of smart technology in commercial real estate, the importance of a thorough and rigorous research and evaluation process, and various factors to consider in contracts for smart technology. These evaluation and contract processes are vital for developing security guardrails to which smart technology suppliers must adhere. A rigorous, security-centric approach to smart home technology can help protect real estate companies from catastrophic PR and financial fallout from a security incident such as the Mirai malware attack in 2016 that targeted insecure Internet of Things (IoT) devices. The average cost of data breach incidents increases with each year and, in 2021, the average cost of a data breach incident was $4.24 million. More than ever, companies must not only be aware of the cybersecurity risks of these technologies but take the necessary steps to address their vulnerabilities.
Real Estate & Construction News Round-Up (05/11/22)
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The supply of homes for sale is on the uptick, the White House releases a plan to improve the permitting process for infrastructure projects, cryptocurrency opens the door to a new class of property owners, and more.
NFT Use Cases in Real Estate
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Non-Fungible Tokens (NFTs) are changing how we think about asset ownership in the real world and in the digital world. NFTs—unique digital tokens stored on a blockchain ledger that represent ownership of an asset, either real or virtual—have gained significant popularity in realms such as art, gaming and entertainment, as a means to establish authenticity and transfer various rights. As a result, entrepreneurs are searching for new industries to disrupt utilizing the advantages offered by NFTs and blockchain more generally. The traditional real estate industry, together with virtual land in the evolving Metaverse, has been on the radar of many.
Real Estate & Construction News Round-Up 05/04/22
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Construction payment apps are on the rise, the European Union proposes to block Russians from buying European real estate, warehouse vacancy rates hit a 27-year low, and more.
Developments in Energy and Environmental Regulation: The View From Austin
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Pillsbury’s Anne Idsal Austin moderated a Federal Bar Association (Houston Chapter) panel discussion with Erin Chancellor, Director of Legal Services at the Texas Commission on Environmental Quality (TCEQ), and Sam Gammage, General Counsel of the Texas Chemical Council (TCC), on Monday, April 18. The panelists brought to bear their regulatory, legislative, and legal expertise to discuss EPA’s increased emphasis on environmental justice (EJ) and Title VI, the TCEQ’s proposed compliance history rule, and the upcoming Sunset Review of the TCEQ
Proactive and Realistic: Anticipating ESG-Related SEC Scrutiny
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Though ESG has been around for a while, with roots that extend back to the environmental sustainability movement, the script for current ESG litigation and investigations is still being written. ESG efforts have expanded to include diversity within companies and an increased focus on compliance and governance within organizations. Regulatory oversight, especially from the SEC, has swiftly come to the fore to monitor those compliance efforts. As with many areas where the precise regulatory and enforcement regime is still coming into focus, it is crucial to recognize the importance of being both proactive and pragmatic.
Real Estate & Construction News Round-Up 04/27/22
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The Biden Administration plans to require U.S.-made steel and iron for American infrastructure, two major real estate players expand into the metaverse, robotics may be a solution to the construction industry’s labor shortage, and more.