Renta Corporación Real Estate S.A.
Climate Impact & Sustainability Data (2021)
Reporting Period: 2021
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Initiated a green developer project to build sustainable housing with an industrialised production process using wood to reduce CO2 emissions, digitization, and efficient waste treatment.
- Requires LEED certification in new office promotions.
- Committed to sustainable construction and energy efficiency through a new housing project in Hospitalet de Llobregat with green certification from the Green Building Council of Spain, near zero energy consumption, and use of sustainable materials.
Social Achievements
- Contributions made to Fundación Renta, collaborating in 53 projects in healthcare, childhood, education, and social assistance.
- Strong communication channels with stakeholders (customers, shareholders, investors, suppliers).
Governance Achievements
- Continued focusing on and reviewing standards governing action policies and corporate governance transparency.
- Compliance with the Good Governance Code of Listed Companies.
- Established procedures for identifying reputation risks and other risks deriving from compliance with the law.
Climate Goals & Targets
Environmental Challenges
- Impact of the war in Ukraine on the European economy and real estate sector.
- Increase in raw material and energy prices impacting construction costs and profitability.
- Rise in inflation potentially decreasing household purchasing power and access to housing.
Mitigation Strategies
- Cautious approach in the coming months, attentive to economic signals.
- Diversification of financing sources.
- Containment of structural costs.
- Exploration of new sectors to diversify activity and provide recurring revenue.
Supply Chain Management
Responsible Procurement
- Selecting materials for construction projects that contribute to their energy efficiency.
- Recycling of materials and waste management.
- Focus on energy refurbishing in all properties.
Climate-Related Risks & Opportunities
Sustainable Products & Innovation
- Green developer project for sustainable housing