CORESTATE Capital Holding S.A.
Climate Impact & Sustainability Data (2019, 2020, 2021-2022)
Reporting Period: 2019
Environmental Metrics
ESG Focus Areas
- Climate Change
- Social Communities
- Governance
Environmental Achievements
- CO2 emissions reduced by 12%
Social Achievements
- Ratio of female managers increased by 7%
- CORESTATE Foundation initiated and supported the Kinderschutzbund Frankfurt e.V. with the Babylotse project
Governance Achievements
- Compliance and governance trainings conducted
- Ethics declaration implemented
- Monthly ESG committees conducted
- High level of investor transparency provided
Climate Goals & Targets
Medium-term Goals:
- Reduce CO2 emissions per square meter by at least 20% by 2025
- Improve energy efficiency per square meter by at least 30% by 2025
- Reduce water consumption per square meter by at least 20% by 2025
- Reduce residual waste by at least 20% by 2025
- Increase the ratio of female managers by at least 30% by 2025
Short-term Goals:
- Develop a well-being policy for employees by 2020
- Develop at least five ESG tenant partnerships by 2025
Environmental Challenges
- Incomplete data on electricity consumption for rented spaces
- Data gaps in water and waste consumption data
Mitigation Strategies
- Initiated digitization of building stock to collect comprehensive data
- Systematically extrapolating missing monthly data
- Implementing smart meters to improve data collection
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI (core option)
Reporting Period: 2020
Environmental Metrics
ESG Focus Areas
- Climate Change
- Social Communities
- Reliable Business Partner
Environmental Achievements
- Over-achieved emission and energy targets
- Launched ESG due diligence process to address climate risks and offer sustainable products aligned with the Sustainable Finance Disclosure Regulation
- Converted entire EUR 17 billion portfolio managed in Germany to green electricity
Social Achievements
- Driving employee wellbeing program forward
- Strengthened leadership and diversity initiatives
- Made a positive impact on communities by supporting local organizations
Governance Achievements
- Became a member of the UNPRI (PRI) in February 2019
- Developed a structured ESG strategy with twelve corporate sustainability goals and a dedicated ESG team
- Conducted annual compliance and governance training for all employees and managers
Climate Goals & Targets
Short-term Goals:
- Reduce CO2 emissions per square meter by 2% annually and by at least 20% by 2025
- Reduce water consumption per square meter by 2% annually and by at least 20% by 2025
- Improve energy efficiency per square meter by 5% annually and by at least 30% by 2025
- Reduce residual waste by 2% per square meter per year and by at least 20% by 2025
- Increase the ratio of female managers by 5% per year and by at least 30% by 2025
- Develop at least five ESG tenant partnerships by 2025
Environmental Challenges
- Global COVID-19 pandemic and resulting challenges in digitizing building stock
- Need for tenant cooperation to obtain comprehensive CO2 consumption data
- Delayed replacement of electricity meters with smart meters due to the pandemic
Mitigation Strategies
- Accelerated digitization process with additional resources
- Intensive dialogue with tenants to obtain consumption data
- Systematically pursuing smart meter project in 2022
- Investigating submetering and smart water meters to improve data quality
Supply Chain Management
Responsible Procurement
- Supplier code of conduct (currently being developed)
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
Transition Risks
- Regulatory changes, market shifts
Reporting Standards
Frameworks Used: GRI
Sustainable Products & Innovation
- Stadtquartiere I & II funds
Reporting Period: 2021-2022
Environmental Metrics
Total Carbon Emissions:181.36 tCO2e/year (Scope 2 & 3)
Scope 2 Emissions:153.91 tCO2e/year
Scope 3 Emissions:27.45 tCO2e/year
ESG Focus Areas
- Climate Change
- Social Communities
- Reliable Business Partner
Environmental Achievements
- Reduced water consumption by 3% in 2021
- Reduced waste volume by 3% in 2021
- Hannover Leasing supported a school solar roof project
Social Achievements
- Corestate Foundation initiated and donated €23,760
- Supported several organizations and fulfilled over 100 children’s Christmas wishes
- Provided 1,500 m² free of charge for a vaccination center in Giessen
Governance Achievements
- Conducted compliance and governance training for all employees
- All employees signed a declaration of ethics
- Monthly ESG committees conducted
Climate Goals & Targets
Medium-term Goals:
- Increase the quota of female managers by 5% annually and by at least 30% by 2025
- Develop at least five ESG tenant partnerships by 2025
Short-term Goals:
- Reduce CO2 emissions per square meter by 2% annually and by at least 20% by 2025
- Improve energy efficiency per square meter by 5% per year and by at least 30% by 2025
- Reduce water consumption per square meter by 2% annually and by at least 20% by 2025
- Reduce non-recycled waste by 2% per square meter per year and by at least 20% by 2025
Environmental Challenges
- Data quality issues impacting accuracy of environmental KPIs
- COVID-19 pandemic impacting project timelines and data collection
- Lack of granular data on tenant electricity and waste volume
Mitigation Strategies
- Improved data management and digitization of building stock
- Systematically extrapolating missing monthly data
- Implementing smart meters and sensor technology for improved data collection
Supply Chain Management
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
Transition Risks
- Regulatory changes
Reporting Standards
Frameworks Used: GRI Standards (core option)
Sustainable Products & Innovation
- ECHO Munich project (wood modular construction)