CORESTATE today published its first comprehensive Sustainability Report covering the core areas of Environment, Social Affairs and Corporate Governance (ESG). With this report, the company underscores its commitment to responsible business operations and documents in detail how the issue of sustainability has been integrated holistically into the organisation and its products.
Frankfurt, 18 June 2019. CORESTATE Capital Holding S.A. (CORESTATE), a leading independent real estate investment manager in Europe, today published its first comprehensive Sustainability Report covering the core areas of Environment, Social Affairs and Corporate Governance (ESG). With this report, the company underscores its commitment to responsible business operations and documents in detail how the issue of sustainability has been integrated holistically into the organisation and its products.
“With our transparent and comprehensive sustainability strategy, we are setting new industry standards in the area of ESG. This is not an end in itself, but is due to the increasing demands of our stakeholders – above all our customers,” emphasizes Lars Schnidrig, CEO of CORESTATE. “Clear ESG criteria have now been implemented in our investment decisions, asset management and product reporting. We have thus consistently focused on sustainability within the Group and qualified ourselves as a reliable partner for our clients in this area as well.”
Investing on the basis of a comprehensible ESG catalogue is essential for institutional investors such as pension funds or pension insurers today. To this end, CORESTATE has anchored sustainability aspects in the entire life cycle of real estate investments. The first central steps included the signing of the UN Principles for Responsible Investment (UNPRI Charter) in February of this year and then the gradual conversion of its own fund products to the comprehensive INREV reporting standard.
“In the course of publishing our first ESG Report, we are at the same time committing ourselves to a whole series of concrete sustainability goals,” says Lars Schnidrig. “For example, we have committed ourselves to reducing CO2 emissions per square meter in our assets under management of over EUR 26 billion by at least 20 percent over the next five years – the same applies to water and waste consumption. We even want to increase energy efficiency by 30 percent. In doing so, we are making an important contribution to combating climate change.”
CORESTATE’s sustainability initiative is part of a broad customer offensive that is being implemented throughout the company. In addition to increased transparency, another internal focus is on digitalisation. In concrete terms, processes are to be further automated and access to CORESTATE’s range of services facilitated. On the basis of a newly designed company website, customers now have the opportunity to invest directly in individual products via a portal. The new website has also been online as of today.
In addition, the customer offering was further aligned to the major trends of urbanisation and demographic changes. CORESTATE’s market-leading solutions in the field of micro-living or financing of large real estate projects in German and European cities already provide adequate product responses to the housing shortage and the needs-based design of urban life.
About CORESTATE Capital
CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
Forward-looking statements
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