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PATRIZIA Sustainability Strategy
At PATRIZIA, we recognize that responsible sustainable practices and investments go hand in hand. With the vast and complex global challenges that we face in terms of ESG, our commitment to corporate responsibility is at the forefront of our actions. To ensure we meet this responsibility to the best of our ability, we have set ourselves ambitious long-term sustainability goals, which are as follows:

Our Sustainability
Strategy
Sustainability is about taking actions
that create positive impact both
today and in the future. Real assets
play a pivotal role in society. Across
residential, commercial, logistics,
and infrastructure they serve basic
human needs such as housing,
workspaces, healthcare, energy,
connectivity, and transportation.
The impact we have as the real
assets industry – both on the natural
environment and the people that live
within it – cannot be downplayed or
ignored.
¹ As defined in the PATRIZIA Impact Investing policy, which broadly aligns to Article 9 of the EU Sustainable Finance
Disclosure Regulation (2019/2088) and equivalents in other jurisdictions.
² Includes operational emissions and embodied carbon for new developments and major refurbishments,
excluding the ‘sunk’ embodied carbon of the standing portfolio. Further details of the commitment, including a
granular breakdown of the scope of the target, can be found in the PATRIZIA Net Zero Carbon Strategy paper.
Achieve net zero carbon ²
status
across our corporate
operations and real asset
portfolio by 2040 or earlier,
with a clear ambition to
execute as fast as external and
our stakeholder requirements
permit.
Become a leading global
impact investor in the real
assets sector
with a meaningful part
of our assets under
management in impact
investments¹ by 2035.
Be an employer of choice in
the Real Asset sector, where
everyone feels included, repre-
sented, and valued equitably.
Become a leading
sustainable investor in real
assets
with a consistent UN
PRI five-star rating from
2025 onward.
Net Zero Carbon
Strategy
While the transition to a low carbon
economy will undoubtedly present
challenges, we believe that a
proactive approach will help to
protect and enhance long-term
investment value. Climate change
poses significant risk, but also
creates new opportunities for value
creation and differentiation.
PATRIZIA has defined a company-
wide net zero carbon strategy that
sets out steps for how we will
identify and manage the transition to
a low carbon economy, both for our
corporate operations and Assets
under Management.
¹ Arising from scope 1, 2 and 3 energy consumption.
² Subject to periodic review in line with best practice science-based target setting methodologies.
³ With the aim of increasing tenant data coverage.
⁴ Prioritising the use of supplies that demonstrate additionality in growing overall capacity for renewables.
⁵ Where regional energy supply markets allow.
⁶ Applicable to all assets but flexible in level of detail, depending on scope of landlord control and materiality of transition risk.
⁷ Where lease arrangements and phased maintenance and replacement programmes allow.
⁸ Where PATRIZIA has full authority over the development process.
⁹ Where PATRIZIA
has full authority over the development process.
¹⁰ The boundary of the commitment is defined in our Net Zero Carbon Strategy paper.
Mid-Term Decarbonisation Targets
As part of this strategy, we have set ourselves the following mid-term targets:
Category
Strategic Goal & Timeframe
Energy and Carbon
Intensity
Data Coverage
Renewable Energy
Procurement
Asset Level
Implementation
Develop a decarbonisation plan that applies the energy hierarchy, including
feasibility studies for onsite renewable energy, for all assets under
management⁶ by 2025.
Decarbonisation of
Heat
Remove fossil fuel heat sources across all Assets under Management, where
practically feasible⁷ by 2030.
Development
Emissions
Ensure that by 2030, all new developments⁸ are net zero carbon.
Corporate Emissions
Achieve net zero carbon status for the group’s own operations by 2030.
Reduce energy intensity by 30% and carbon intensity ¹ ² by 50% by 2030
across our Assets under Management, from an industry-wide baseline of
2019.
Procure electricity from renewable sources⁴ for all landlord-controlled
supplies by 2025⁵, while encouraging occupiers to adopt renewable energy.
Achieve 100% coverage of landlord procured energy data and establish an
effective tenant engagement strategy³ by 2025.

Fund
Management
ESG Fund policy
Regular ESG reporting
and analytics
Fund reviews to
challenge status
quo and evolve fund
strategy
GRESB assessment
Climate change risks
Exit/Sales
Continuous hold/sell
analysis
ESG DD checklist
Climate change risks
Development &
Refurbishment
Sustainable and
innovative building
design
Carbon neutral design
Sustainable materials
Circular economy
Green building
certification
Community engagement
Sourcing &
Acquisition
ESG DD and business
plans
Climate change risks
Potential for
improvement, legacy
issues and resilience
Sustainable investment
locations
IC scrutiny; verifying
compliance with
invest ment restrictions
and ESG targets
Asset
Management
Asset ESG performance
ESG data collection
Digitalisation and
smart meters
EPC ratings and
certifications
Tenant and partner
engagement
Green leases
Sustainable materials
Sustainable fit out
guide
Product
Development
Top-down analysis of
sustainable investment
themes and markets
Execution capability
through inter disci plinary
teams
Alignment of interests
ESG is firmly embedded in our Investment Process
Building stakeholder trust, increasing real estate efficiency and reducing operational risks.
Our Journey to Net Zero and a more sustainable future
We are excited to share with you the steps and strategies we intend to take to reduce our carbon footprint and create a more sustainable future.
Sustainability Strategy
In our Sustainability Strategy video, we explore the significance of creating positive impact for both present and future generations. As a real assets industry, we understand the crucial role we play in providing basic human needs such as housing, workspaces, healthcare, energy, connectivity, and transportation across residential, commercial, logistics, and infrastructure sectors. However, we are also aware of the impact we have on the natural environment and the communities that depend on it. Thus, we are committed to achieving net zero carbon status across our corporate operations and real asset portfolio by 2040 or sooner.
Decarbonisation and Net Zero Carbon Strategy
Our Decarbonisation and Net Zero Carbon Strategy aims to reduce carbon emissions across our operations and value chain while creating a positive impact on the environment and communities we serve. To achieve our goals, we're implementing sustainable practices such as using energy-efficient buildings, renewable energy sources, and circular economy principles. These actions will not only help us reduce our carbon footprint but also contribute to a more sustainable future for all. Join us on this journey.