In Belgium, public initiatives often involve government policies and incentives aimed at promoting sustainability in real estate development. Some examples include the following:

• Green investment grants: The Belgian government offers grants and subsidies to support investments in renewable energy, energy efficiency and other environmentally friendly projects. These grants help businesses, local governments and individuals to finance the up-front costs of implementing green technologies.
• Renewable energy certificates (RECs): Belgium has a system of RECs that incentivizes the production of renewable energy. Renewable energy producers can earn RECs for each megawatt-hour of electricity generated from renewable sources, which can then be sold or traded to energy suppliers to meet their renewable energy obligations.
• Green building incentives: Regional governments in Belgium provide incentives for green building certifications such as BREEAM and Leadership in Energy and Environmental Design (LEED). These certifications recognize buildings that meet high standards of environmental performance and energy efficiency, and incentives may include tax breaks, grants or expedited permitting processes.
• Sustainable transport funding: The Belgian government invests in sustainable transportation infrastructure and initiatives to reduce greenhouse gas emissions and promote cleaner modes of transport. This includes funding for public transit projects, electric vehicle charging infrastructure and bicycle-friendly urban planning.
• Circular economy support: Belgium has initiatives to promote the circular economy, including funding programs for circular business models, resource efficiency projects and waste reduction initiatives. These programs aim to shift toward a more sustainable and resource-efficient economic model.

These are just a few examples of public green finance initiatives in Belgium, indicative of the general political climate geared toward promoting environmental sustainability and supporting the transition to a low-carbon economy.

Private initiatives typically involve real estate developers and investors incorporating sustainable practices into their projects. This could mean designing and constructing energy-efficient buildings with features like efficient insulation, LED lighting and renewable energy systems such as solar panels or geothermal heating. Additionally, there is a growing trend to incorporate green spaces, such as rooftop gardens or urban parks, into real estate developments to enhance sustainability and livability.

On a sector level, Agoria, a Belgian federation for the technology industry, and Febelfin, the Belgian financial sector federation, have collaborated on the development of a special tool for helping banks when evaluating loan requests for energy-saving or green investments. The tool uses a reference list indicating how much profit a certain green technology might provide in the future. The tool offers banks more certainty when assessing whether the proposed cost cuts will indeed be realized, thereby removing a barrier for the financing of sustainable real estate.

In terms of financing, banks and financial institutions in Belgium offer green financing options specifically tailored to support sustainable real estate projects. These may include green loans, green mortgages, green bonds, sustainability-linked loans, green business financing, sustainable investment funds or other financial products with favorable terms for projects that meet certain environmental criteria. These initiatives aim to incentivize and support the transition toward more sustainable and environmentally friendly real estate development in Belgium.