Union Investment has become one of the first German property investors to conduct a comprehensive sustainability analysis of its global real estate fund portfolio that meets the reporting requirements set by the German Property Federation's (ZIA).
Union Investment has become one of the first German property investors to conduct a comprehensive sustainability analysis of its global real estate fund portfolio that meets the reporting requirements set by the German Property Federation's (ZIA).
The results were unveiled in Berlin at ZIA's Real Estate Industry Day last week.
'This analysis gives us the first detailed overview of emissions and resource consumption within a major portfolio,' said Reinhard Kutscher, chairman of Union Investment Real Estate. 'Representative of our wider holdings, we will be making this data available for professional benchmarking purposes.'
'We want our reporting to reflect our pioneering role on the sustainability front,’ Kutscher added.
To further improve the environmental performance of its internationally diversified holdings, Union Investment assessed a total of 187 office, retail, hotel and logistics properties held by its open-ended real estate funds in spring this year. The assets selected has a market value of some EUR 14 bn and comprises over 4 million m2 of floor space, equivalent to 78% of total space in the company's portfolio.
In terms of composition - uses, property age, regions and fund breakdown - it is representative of the overall Union Investment real estate portfolio (valuation: EUR 18.7 bn; 5.4 million m2).
Since 2008 Union Investment has organised the Prime Property Awards, dubbed the Property ‘Oscars’, every two years to acknowledge the real estate investment projects that best combine commercial success with socio-cultural and ecological sustainability.
The winners of the third edition of the Awards will be announced at Union Investment’s Sustainable Investment Conference during Expo Real on 9 October. The 2012 Awards attracted 160 initial entrants, and PropertyEU has exclusively obtained the list of 31 projects that made it threw to the second round of the competition, from which the jury will pick the finalists at a meeting in August.
See the June edition of PropertyEU Magazine for the list of the 31 entrants vying for a place in the final. Click on the link below to subscribe
