RCS - IMMOFINANZ AG - IMMOFINANZ to reach emission-free status by 2040
17/12/2021 11:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211217:nRSQ0407Wa&default-theme=true
RNS Number : 0407W IMMOFINANZ AG 17 December 2021
IMMOFINANZ AG / Key word(s): Sustainability/Real Estate
IMMOFINANZ to reach emission-free status by 2040
17.12.2021 / 09:31
The issuer is solely responsible for the content of this announcement.
IMMOFINANZ to reach emission-free status by 2040
IMMOFINANZ is making an important contribution to the fight against climate
change with its new Net Zero Emission Strategy. Plans call for a reduction of
60% (below the 2019 level) in all greenhouse gas emissions by 2030 - and by
2040, this leading European commercial real estate company intends to be
emission-free along the entire value chain. That means IMMOFINANZ will clearly
exceed the goal set by the European Union to attain climate neutrality by
2050.
The real estate sector plays a decisive role in the fight against the steadily
progressing climate change. Roughly 40% of worldwide emissions are
attributable to the construction or operation of buildings. In order to limit
global warming to a maximum of 1.5 C, numerous measures are urgently needed.
IMMOFINANZ, as one of the leading commercial real estate companies in Europe,
has accepted this responsibility and intends to become emission-free by 2040.
"The acute climate crisis and the related ecological impact are the most
pressing challenges of our time, and we are all called on to act. We have
therefore set an ambitious goal to become emission-free in all areas of our
company by 2040. That reflects our commitment to accept responsibility for
mankind and our environment as well as our intention to play a leading role in
the sustainable transformation of our industry", commented Dietmar Reindl,
COO of IMMOFINANZ, on the company's ambitious sustainability programme.
IMMOFINANZ's Net Zero Emission Strategy includes solid and specific targets
and milestones. The most important goals are to reduce all climate-damaging
greenhouse gas emissions (e.g. CO(2), methane etc.) by 60% below the 2019
level by 2030 and to make the common areas and portfolio space managed by
IMMOFINANZ emission-free. The entire value chain is projected to be
emission-free by 2040, i.e. including construction and refurbishing measures.
Tenants will be supported in reaching net zero emission status. All greenhouse
gas emissions will be reduced, and only technologically unavoidable residual
emissions will be neutralised through compensation measures. The timetable
will be reviewed at five-year intervals up to 2040 to drive the related
measures, utilise opportunities and give customers, tenants and investors a
clear impression of the status of target attainment.
Green technologies for more energy efficiency
IMMOFINANZ has defined a wide-ranging programme of measures to reduce
greenhouse gas emissions and, in doing so, meet these ambitious goals. For
example: Each year; at least 5% of the property portfolio will undergo
extensive energy efficiency refurbishment. IMMOFINANZ will also significantly
increase its own renewable energy production by installing photovoltaic
equipment on the rooftops of the STOP SHOP retail parks and equipping all new
locations with photovoltaic systems. The myhive office buildings and VIVO!
shopping centers will be outfitted with photovoltaic equipment where possible
and depending on the location. External electricity supplies will be converted
to 100% renewable energy sources and the purchase of fossil fuels will be
terminated. Energy-saving lighting systems will be installed throughout the
entire portfolio in the future, and refrigerants with a high greenhouse gas
potential will be replaced. The use of smart technologies for all properties
will be massively expanded, including the digitalisation of consumption in all
areas. IMMOFINANZ is in close contact with its tenants and will support them
in converting to sustainable utilization.
Transition to a circular economy
The transformation to a circular economy is a further key element of the Net
Zero Emission Strategy. In the future, recycled materials that can be
purchased locally will be used in our renovation, refurbishment and new
construction projects. A broad-based waste management system will be
introduced to precisely review existing disposal contracts and develop new
guidelines. IMMOFINANZ is also preparing emission-free application standards
that will drastically reduce the amount of released carbon and so-called "grey
emissions" during project development and extensive renovations.
Biodiversity and careful resource management
IMMOFINANZ has set a goal to significantly reduce water consumption.
Water-saving fittings will be installed throughout the entire portfolio and
rainwater utilisation systems will be integrated in all new projects. The
biodiversity programme includes the design of green areas at the IMMOFINANZ
properties to support the local ecosystem. These plans will be part of new
property development in the future, whereby no pesticides will be used to
maintain the green areas.
Innovative real estate solutions for more sustainability
IMMOFINANZ expects to implement its sustainability activities through specific
real estate projects in the office, retail and residential businesses. Initial
projects include the myhive Urban Garden in Vienna and the first TOP on STOP
apartments in Austria, Slovakia and Serbia.
myhive Urban Garden: The successful myhive office brand will be expanded to
include an "urban garden" concept. It is characterised by numerous green
areas, state-of-the-art economical technologies and the highest possible
sustainability certification (BREEAM). Green facades, terraced landscapes,
gardens and green oases in the offices will create a feel-well atmosphere and
an attractive microclimate for tenants, who will also be asked to commit to
careful energy consumption and the minimisation of waste. The myhive Urban
Garden will offer tenants a perfect work & life balance and, at the same
time, support IMMOFINANZ's efforts in the interest of the Net Zero Emission
Strategy.
TOP on STOP: IMMOFINANZ is creating affordable, sustainable living space with
its TOP on STOP concept. On the single-storey STOP SHOP retail parks, up to
12,000 apartments will built in modular wood construction according to the
highest sustainability and energy saving standards and with affordable rents
for many residents. This resource-conserving approach will make an important
contribution to the fight against climate change, ground sealing and the
explosion in housing costs.
International Science Based Target Initiative as a guideline to reduce
emissions
As part of its Net Zero Emission Strategy and a commitment to the
internationally recognised Science Based Target Initiative (SBTi), IMMOFINANZ
has agreed to set scientifically based emission reduction goals for the entire
value chain which will limit global warming to 1.5 C over the pre-industrial
level. The scientific approach applied by SBTi includes a validation
programme. In agreement with the requirements defined by SBTi, IMMOFINANZ has
focused its Net Zero Emission Strategy on the latest scientific findings. "We
are convinced that we are on a very ambitious - but also a very right course
with our net zero emission strategy. However, we realise that we can only meet
these targets together with all our stakeholders. A focus on sustainability
will strengthen our portfolio performance, protect our competitive advantages
on the market, and generate long-term value for our shareholders. We are aware
of our responsibility and well prepared to consistently implement this
strategy", added Dietmar Reindl in conclusion.
On IMMOFINANZ
IMMOFINANZ is a commercial real estate group whose activities are focused on
the office and retail segments of eight core markets in Europe: Austria,
Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and the Adriatic
region. The core business covers the management and development of properties,
whereby the STOP SHOP (retail), VIVO! (retail) and myhive (office) brands
represent strong focal points that stand for quality and service. The real
estate portfolio has a value of approx. EUR 5.0 billion and covers roughly 210
properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX
index) and Warsaw. Further information under: https://immofinanz.com
(https://immofinanz.com/)
For additional information contact:
Bettina Schragl
Head of Corporate Communications and Investor Relations
IMMOFINANZ
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com (mailto:communications@immofinanz.com)
investor@immofinanz.com
1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com
17.12.2021 This Corporate News was distributed by EQS Group AG. www.eqs.com
Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 9
1100 Vienna
Austria
Phone: +43 (0) 1 88090 - 2290
Fax: +43 (0) 1 88090 - 8290
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000A21KS2
WKN: A2JN9W
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Munich, Stuttgart; Warschau,
Vienna Stock Exchange (Official Market)
EQS News ID: 1259185
End of News EQS News Service
1259185 17.12.2021
This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END NRAUBOKRASUUARA