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Sustainability - PATRIZIA ESG Strategy

Environmental, Social and Governance

Acting responsibly has always been part of PATRIZIA’s business approach. As a leading global partner for pan-European real estate investment, PATRIZIA is aware that real estate is one of the largest contributors to worldwide energy consumption and CO2 emissions that drive climate change. We understand our responsibilities as an investment manager to reduce the carbon footprint of our asset portfolio and business operations. We are also very committed to our corporate social responsibility and it is of major importance for PATRIZIA to contribute to society in a positive way. For us, sustainability is an ongoing effort of measuring, improving, sharing, and learning and our objective is to become a driver for change in the industry. 

Watch the video to learn more about sustainability at PATRIZIA

A subject of priority

PATRIZIA’s ESG programme is championed at the most senior levels of our business and led by the ESG Committee chaired by the COO. The ESG Committee defines and drives the company’s ESG agenda and supports our ongoing commitment to ESG matters including our corporate governance framework. It also ensures that we work according to the highest standards of conduct in our approach towards our clients, our staff, our service providers and those who are affected by the properties we manage.
 

Transparency as a guideline

We want to share our efforts throughout our journey to creating a real estate business that is more friendly to both people and the planet. And we encourage our stakeholders to join us on this journey, in cooperation, in inspiration and mutual engagement. We share our ESG Strategy in alignment with industry-wide reporting and benchmarking protocols, such as the UN PRI and GRESB, to ensure transparency and comparability for our investors and to stimulate an open dialogue about sustainability matters. 

 

Our mission for the PATRIZIA ESG Strategy

Invest in sustainable futures, building communities and striving to set industry benchmarks 

Sustainable Futures

Buildings account for a substantial proportion of worldwide greenhouse gas emissions and energy consumption. With EUR 40bn assets under management, we recognise the major contribution we can make to the creation of a sustainable environment. With this in mind, we are continuously increasing our efforts and activities in this area.

Environmental

  • Reduce our carbon footprint

    Our guideline is to apply environmentally sustainable principles into our business plans wherever feasible. We strive to cut our overall carbon footprint, as a generic metric of our environmental performance. 
     

  • Measure and digitise our non-financial impact

    We are working hard on continuously improving our system to gather and assess our environmental performance. We work closely with our property managers to improve data coverage and develop relevant KPIs to include in our business plans. Our primary objective is to improve our real estate portfolio’s energy and water efficiency and reduce waste.

  • Integrate ESG KPIs in decision making

    In addition to using environmental asset data to comply with reporting standards we are analysing our asset portfolio and business operations to reduce our environmental impact to a minimum. Also, we are continously improving the standardised documentation and digitalisation of compliance with health and safety standards.

Building Communities

The social component of ESG has been a focus of PATRIZIA since the company’s beginnings. Investing in real estate means investing in communities; PATRIZIA aims to do both in a sustainable manner. With our ESG Strategy, we safeguard the social impact of our business and try to improve and adapt continuously.

Social

  • Stakeholder Engagement

    In order to finding solutions to decrease our environmental impact we rely on cooperation with our stakeholders and therefore stay in constant dialogue with our investors, tenants and service providers. Teaming up with our stakeholders is of major importance to us, to identify common interests and because we are convinced that together with our stakeholders we are stronger when it comes to working towards a more sustainable real estate business.

  • Employee development and growth

    Our employees are at the heart of our business and we commit to ensuring a sustainable and healthy workplace, an interesting and challenging work environment and relevant training opportunities to promote the professional and personal development of our PATRIZIAns. 

  • Support PATRIZIA Children Foundation

    Part of PATRIZIA’s corporate culture is the understanding that some of the Group’s success must be shared with those who are in desperate need. This is one of our core beliefs and led to the foundation of the PATRIZIA Children Foundation 20 years ago.

Industry Benchmarks

PATRIZIA is committed to high standards of governance and risk management and keep our investors and shareholders transparently informed. Governance especially is perceived as a window that provides insights for clients into PATRIZIA’s overall management quality and organisation.

Governance

  • Compliance with advancing regulation

    The fight against climate change is driving many global agreements and these changes are making themselves felt in changes to regulations and laws that will affect our industry for years to come. In the Paris Agreement EU member states have set national climate targets, which are now reflected in increasing legislation and regulation. We are closely monitoring this development and the regulation which addresses real estate owners and asset managers to prepare our portfolio respectively. Regulatory changes include stricter requirements for developments and installations as well as obligatory disclosure of energy consumption and CO2 emissions.

  • Climate change risks and opportunities

    Our ESG Strategy is embedded in an Environmental Management System (EMS) to better control climate change risks and opportunities and manage improvements. In addition to the regulatory transition, as described before, climate change also means a physical risk for real estate properties and taking the long-term investment horizon of our investments into consideration it is inevitable to integrate such risks into our decision making processes. To do so we align our risk management procedures with the recommendations of the TCFD (Task Force on Climate-related Financial Disclosures). 

  • Transparent reporting and corporate governance

    We align our ESG reporting with industry guidelines where appropriate, such as the UN PRI, GRESB and INREV to provide transparent and comparable information to our investors. Our corporate governance framework is equally aligned with established standards.

 

Sustainability Case Studies

  • 50,000 tons less CO2 each year

    by running a major share of PATRIZIA’s real estate portfolio on 100% renewable energy

  • First carbon-negative business park

    by expanding a solar park to produce more energy than is consumed

  • Improved energy efficiency

    by improving the energy efficiency of 180 apartments and reducing heating costs for tenants

  • PATRIZIA ART LAB

    revitalises real estate to benefit the PATRIZIA Children Foundation

  • Industry Standards

    Transparent reporting and comparability by aligning with industry standards

Anne BökerAssociate Sustainability Management