Our ESG Journey at CORESTATE
Establishment of a Group-wide ESG department
December 2018
Corestate becomes a signatory to the UN PRI
February 2019
Publication of the first annual ESG Report
June 2019
Establishment of an ESG Investment Policy
June 2019
Use of a digital platform to measure & optimise consumption & emissions
July 2019
Comprehensive
INREV Fund
Reporting
September 2019
Introduction of the
CORESTATE Women’s
Network
November 2019
Establishment of the
CORESTATE
Foundation
November 2019
Joining the
ESG Circle
of Real Estate
February 2020
Joining the
PRI Taxonomy
Group
February 2020
Energy tender will save
>€400,000 by 2024 and
drive smart meters forward
April 2020
Carrying out GRESB
reporting for a large
German institutional client
July 2020
Second annual ESG report highlights overachievement of most annual targets
August 2020
CORESTATE offers a
qualified ESG fund for
the first time
March 2021
Participant in the technical exchange of
the “Pathways to Paris” project
May 2021
Establishment of the
Corestate Capital Pride
Network
June 2021
Second year Carrying out
GRESB reporting for
institutional and
club deal clients
July 2021
CORESTATE named “Germany’s most valuable company in ESG” (real estate investment companies) by Focus Money
August 2021
Third ESG report
presents continued
high ESG standards
and targets met
September 2021
Internal ESG scoring model
rolled out for increased
ESG transparency for
clients and financing partners
November 2021
Corestate subsidiary STAM Europe
acquires trend-setting
office building in first
CO2 -neutral district of Paris
February 2022
Fourth ESG Report
confirms
Corestate’s commitment
to ESG services
June 2022
CORESTATE named “Germany’s most valuable company in ESG” (real estate investment companies) by Focus Money
July 2022
CORESTATE commits to upholding high standards of ESG management across its portfolio.
We developed 12 corporate targets of which we report on annually to keep us on track with our ESG management goals.
We are Committed to Responsible Investing
As a signatory of the United Nations Principles for Responsible Investment (UNPRI) since February 2019, CORESTATE’s responsible investment policy is aligned with the organisation’s definition:
“Responsible Investment is an approach to investing that aims to incorporate environmental, social and governance (ESG) factors into investment decisions, to better manage risk and generate sustainable, long-term returns”.
Sustainable and profitable business relationships are an integral part of CORESTATE’s success. We are living up to our responsibilities to the environment, to society and to all of our stakeholders through a long-term, clearly defined ESG strategy. This is not only operationally anchored but also integrated at every step of our investment cycle.
In this sense, CORESTATE commits to upholding high standards of ESG management across its portfolio, namely by:
At the end of 2020, we have initiated our ESG due diligence process for new acquisitions. As part of our due diligence process for each new acquisition, we identify physical climate risks from extreme weather events and transition risks. In this way, we also analyse the compatibility of a building’s performance in different scenarios with the EU Green Deal target, namely achieving carbon neutrality latest by 2050. We make the analysis results of a performed ESG due diligence available to our investors upon request. In addition to evaluating new acquisitions, we also perform periodic ESG due diligence checks for our standing assets to prioritize needed improvements and upgrades where needed.
We are currently structuring our ESG Investment Guideline Policy that will incorporate the EU regulatory standards for sustainable products which include the Sustainable Finance Disclosure Regulation (SFDR) and the EU Taxonomy. The policy will outline the approval, structuring and management of sustainable products to comply with any current or upcoming EU regulatory standards.
CORESTATE maintains a corporate organisation that functionally supports the consideration of sustainability risks and compliance with the aforementioned processes. The responsibility for the business and risk strategy, also with regard to sustainability risks, lies with the management of CORESTATE. The management is supported professionally on the topic of sustainability risks by risk management and the compliance teams.
