With a share of almost 40 percent of the global CO2 footprint, the real estate industry is one of the most important protagonists when it comes to achieving CO2 neutrality by 2050 in accordance with the Paris Climate Agreement. We are aware of this responsibility and see it as an opportunity to make a measurable impact by driving the decarbonization of our real estate portfolio.
That is why we have firmly anchored the topic of sustainability at Primonial REIM across all countries at the highest strategic level and in all corporate departments.
assets under management
of our assets undergo an ESG check
of our funds qualify under Art. 8 or Art. 9 Disclosure Regulation (SFDR)
in the healthcare real estate sector with assets under management of over 10 billion euros
The building sector has one of the largest environmental footprints anywhere. By focusing on decarbonizing existing buildings, we as an industry can make a real, measurable impact.
Peter Finkbeiner, CEO
DECARBONIZATION OF EXISTING Buildings
Around 60 percent of the CO2 emissions generated during the life cycle of a building are attributable to the construction phase - so-called embodied carbon. Embodied carbon (gray emissions) refers to all emissions generated during the production and transport of materials, the construction phase and the deconstruction of a building. Only 40 percent of CO2 emissions are attributable to the operation of the property. At Primonial REIM, we therefore pursue an investment strategy of modernizing existing buildings rather than focusing on new buildings, not only for cost reasons but also out of ecological conviction. Our ESG measures relate to the entire life cycle of a property with the aim of preserving its usability and extending its service life.
MEASURABILITY AND TRANSPARENCY OF DEFINED SUSTAINABILITY CRITERIA
Transparency plays a particularly important role in the area of sustainability. We therefore deliberately set ourselves ambitious, but also operationally realizable targets against which we can be measured and on which we report transparently.
ESG is now firmly integrated at all levels of our company. We are convinced that taking ESG criteria into account will not be a cost driver in the future, but on the contrary will secure returns.
Florian Wenner, Head of Research & ESG
Our ESG initiatives, certifications and partnerships:
We work with deepki for the collection and analysis of our ESG-related building data. Deepki is a leading provider of ESG and data intelligence solutions for environmental change in the commercial real estate sector.
We use GRESB, a leading rating system for measuring the sustainability performance of real estate companies and real estate funds. The weighting of seven different aspects produces the so-called GRESB Score, which makes a significant contribution to the transparency of the real estate industry in sustainability issues.
INREV is a European association for unlisted real estate companies. The association's goal is to promote transparency and improve professionalism and practices in the real estate sector, as well as to make the asset class more accessible and attractive to investors. The ESG standards developed by INREV, such as the Sustainability Guidelines and Global ESG Library, play an increasingly important role in this.
We received the Label ISR sustainability certificate from the French Ministry of Finance for our largest French real estate fund. The label is awarded to financial products that pursue a clearly defined and measurable ESG strategy.
We have joined the Science Based Targets initiative (SBTi). SBTi was created in 2015 to develop science-based targets and pathways for companies to reduce greenhouse gas emissions.
We see the Sustainable Development Goals (SDGs) of the United Nations as guidelines for our sustainability strategy.
We signed the UN Principles for Responsible Investment (PRI), an investor initiative established in 2006 in partnership with the UN Environment Programme (UNEP) Finance Initiative and the UN Global Compact to help build a more sustainable global financial system.
The Central Real Estate Committee (ZIA) is the umbrella organization of the German real estate industry. By joining, companies undertake to comply with a sustainability code.
We are not only a pioneer in social investments in Europe, we are also aware of our social responsibility and get involved. We have been supporting the German Children's Fund for several years. With the "Playground Initiative", we go beyond our financial commitment to improve the living space for children in disadvantaged neighborhoods. Together we create meeting places for social interaction, interculturalism, environmental awareness and to promote the physical and mental development of children.
In a joint team effort, we built a mud kitchen for the children of the International Children's House in 2023 - a day home for disadvantaged and refugee children in the area of Frankfurt's main train disrtict. The result can be admired in the image film.