As a major property owner across Germany, we recognise our own responsibility to contribute towards global efforts to address climate change, and to minimise the impact our operations have on the environment around us.
The implementation of our environmental strategy supports and strengthens our core strategy: transforming business parks into modernised fit-for-purpose assets through investment and intensive asset management. Our sustainable strategy of maintaining and refurbishing existing buildings means that we can help minimise urban sprawl and contribute to protecting undeveloped land. By recycling existing properties, we conserve resources and minimise the use of materials and energy required to construct new properties.
However, we are also aware older buildings can be responsible for higher emissions which is why we committed a number of years ago to sourcing our electricity consumption of our portfolio from renewable sources. By January 2021, 99.4% of the energy consumption of our portfolio was sourced from 100% certified green electricity sources.
We are firmly committed to playing our part in responding to climate change and are creating a roadmap to manage and minimise our environmental impact. This includes focusing on calculating and understanding GHG emissions from our activities to reduce our emissions and implementing the recommendations of the Task Force on Climate-related Financial Disclosures (“TCFD”). This entails managing and integrating climate risks and opportunities within our strategic and operational processes.
As we continue to build our environmental strategy and targets, we recognise that climate change cannot be solved by one group alone. That is why we are working closely with a variety of stakeholders, including local and national government, tenants and the communities in which we operate.