DGAP-News: Corestate Capital Holding S.A.
/ Key word(s): Sustainability/Real Estate
CORESTATE publishes ESG report: Well above plan on key ESG targets
Frankfurt, September 30, 2021. CORESTATE Capital Group S.A. (Corestate), a leading independent real estate investment manager in Europe, continues to set itself high standards when it comes to sustainability objectives and maintains a responsible investment strategy to future-proof assets under management through an ESG due diligence process. Corestate has adopted ambitious environmental, social, and corporate governance (ESG) targets to align their business goals with sustainability goals. The ESG report published today demonstrates the progress made in implementing the ambitious plans. For example, Corestate was able to reduce CO2 emissions/m² in managed properties by 8% compared to the previous year, six percentage points more than planned. Energy consumption/m² fell by 7% in the same period (target 5%). Water consumption was reduced by 1% (target 2 %). René Parmantier, CEO Corestate Capital Group: "At Corestate, we aim to prove every day that we can make a significant social and economic contribution when it comes to our ESG objectives in the Real Estate industry and beyond. We are on the right track which is also reflected by the recently published ESG study "Ecology, Economy & Social Value" by Focus-Money, which named us "Germany's Most Valuable Company" in the category of real estate investment companies. Our quantifiable ESG targets and strategy set us apart from our peers as we not only deliver measurable results but also take action in aligning ourselves with the EU Green deal action plan. Ashley Wester, Senior Associate ESG Corestate: "This year we standardised our ESG due diligence process to address physical climate risks and transitory risks implemented for all new acquisitions and offered our investors sustainable products aligned with the Sustainable Finance Disclosure Regulation SFDR at the beginning of the year. However, not to be left out, social and corporate governance are equally important to us and so we have made great strides in these aspects across the Group as well." Streamlining data flow Compared to the report from the previous year (covering FY 2018-2019), consumption emission data from 188 buildings, representing 15% more (+25 buildings), have now been recorded and taken into account. In addition, up-to 33,000 data points for consumption data for assets under management were reviewed, which represents an increase of around 85% compared with the analysis from last year. This was only made possible by improving data flow work streams and utilizing a centralised data platform. The data coverage is expected to increase even further once the roll-out of smart meters for the general electricity meters is completed, which should be expected at the turn of 2022/2023. Further smart-meter solutions for water and waste are also planned. Diversity, non-profit and corporate governance In addition to its environmental goals, Corestate is focusing particularly on social issues and corporate governance. The company has created structures and processes that specifically promote the advancement of women into leadership positions. The company has set itself to increase the proportion of female managers by 5% per year by 2025 and has clearly exceeded this with an increase of 9% compared to the previous year. However, diversity encompasses much more than gender. For this reason, Corestate established the "CORESTATE Capital Pride Network" (CCPN), CORESTATE's LGBTQ+ diversity group. With the establishment of the Corestate Foundation at the end of 2019, the company supports local projects, associations and organisations whose work is dedicated to the betterment of the lives of children and young people. Notably, with 2020 being heavily impacted by COVID-19, the company was able to support seven local organisations. Clear and transparent corporate governance is the basis of every business relationship for Corestate. Annual compliance and governance training for employees and managers, an expanded Code of Conduct, and ethics training are therefore central and recurring elements. The ESG report is available online here: https://corestate-capital.com/wp-content/uploads/2021/09/esg-report-2021.pdf
30.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Corestate Capital Holding S.A. |
4, Rue Jean Monnet | |
L-2180 Luxembourg | |
Luxemburg | |
Phone: | +49 69 3535630-107 |
Fax: | +49 69 3535630-29 |
E-mail: | IR@corestate-capital.com |
Internet: | www.corestate-capital.com |
ISIN: | LU1296758029 |
WKN: | A141J3 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1236978 |
End of News | DGAP News Service |
|
1236978 30.09.2021