Climate Change Data

Peach Property Group AG

Climate Impact & Sustainability Data (2020, 2023)

Reporting Period: 2020

Environmental Metrics

Total Carbon Emissions:8067 tCO2e (Scope 1 and 2)
Carbon Intensity:27.5 kgCO2e/m²

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • CO2-efficiency 15 percent below peer group average in the German real estate industry
  • 20% share of electric vehicles in the total fleet by the end of 2020
  • Switched the general electricity of the entire portfolio to green electricity at the beginning of 2021

Social Achievements

  • Opened four more tenant shops (Peach Points) despite the COVID-19 pandemic
  • Reduced vacancy rate by approximately 25 percent to 7.0 percent in 2020
  • Employee turnover rate of 8%, an absolute record rate in the industry

Governance Achievements

  • Established anti-corruption training for all employees
  • Strict rules for ethical behavior, including combating corruption, avoiding conflicts of interest, avoiding bribery and anti-discrimination

Climate Goals & Targets

Medium-term Goals:
  • Present a report with specific goals for decarbonization by the end of 2021
Short-term Goals:
  • Reduce CO2 emissions by implementing measures to optimize heating systems by 2025
  • Convert at least 75% of the vehicle fleet to e-mobility by 2023

Environmental Challenges

  • COVID-19 pandemic
  • Supply chain disruptions (implied)
Mitigation Strategies
  • Active asset management and intensive leasing activities, many of them digital
  • Flexible switch to home office for employees
  • Virtual apartment tours

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: EPRA sBPR, GRI, UN SDGs

Third-party Assurance: PricewaterhouseCoopers AG

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:46,662 tCO2e (2022)
Scope 1 Emissions:34,690 tCO2e (2022)
Scope 2 Emissions:11,972 tCO2e (2022)
Scope 3 Emissions:9,001 tCO2e (2022)
Renewable Energy Share:Not disclosed
Total Energy Consumption:231,654,841 kWh (2022)
Water Consumption:2,256,441 m3 (2022)
Waste Generated:31,771 tons (2022)
Carbon Intensity:29.4 kgCO2e/m2 (2022)

ESG Focus Areas

  • Climate protection and carbon emission reductions
  • Supply of affordable and sustainable living spaces
  • Ethical corporate governance
  • Well-being of tenants and employees

Environmental Achievements

  • 9 percent reduction in GHG intensity in 2022, reaching 29.4 kg CO2e/m2a. Factors like integrating the new Eagle portfolio and public energy conservation efforts contributed to this.
  • Smart meters installed in approximately 50 percent of eligible apartments (previous year: approx. 37 percent).
  • Replaced or modernized over 60 heating systems, and refurbished five roofs in 2023, securing funding for 11 of these projects.

Social Achievements

  • Tenant satisfaction was at 76 percent (above the 75 percent target).
  • Increased “one-touch” rate by 1.2 percentage points to 91.3 percent.
  • Average portfolio rental period increased to 9.95 years (2022: 9.80 years).
  • Group-wide employee survey showed high levels of satisfaction with onboarding, feedback, teamwork, and appreciation from superiors.
  • Increased vacation days for German employees by two days starting in 2024.

Governance Achievements

  • Introduced a new “Policy on the Prevention of Money Laundering and Terrorist Financing”.
  • Held training sessions on Group policies and guidelines, including Code of Conduct and data protection.
  • Various amendments to Articles of Association to align with revised stock corporation law.
  • Updated Organizational Regulations.
  • Improved ESG risk rating to 10.3 (Sustainalytics), categorized as low risk.
  • Awarded EPRA sBPR Gold Award for sustainability reporting.

Climate Goals & Targets

Long-term Goals:
  • Reducing CO2 intensity to below 10 kg CO2e/m2a by 2050.
  • Achieving a climate-neutral real estate portfolio by 2050.
Medium-term Goals:
  • Reducing CO2 intensity to below 30 kg CO2e/m2a by 2030.
  • Modernizing heating systems annually and upgrading low-efficiency buildings by 2030.
  • Converting all oil-fired heating systems to lower-emission fuels by 2030.
Short-term Goals:
  • Optimizing waste and water management.
  • Increasing the proportion of electric vehicles to 75% of the fleet and optimizing waste management by 2025.

Environmental Challenges

  • Significant challenges faced by the German economy in 2023, including recession, high inflation, increasing interest rates, and high capital costs.
  • Substantial setbacks in the real estate market due to rising building material prices, declining asset values, and persistently high energy costs.
  • Tighter capital expenditure budget impacting the scope of action for sustainability initiatives.
  • Rising rental costs and higher energy ancillary costs for tenants.
  • Housing deficit in Germany projected to worsen.
Mitigation Strategies
  • Purposefully allocating time and resources to drive sustainability efforts forward.
  • Prioritizing less capital-intensive measures for sustainability efforts in the upcoming year.
  • Implementing energy efficiency measures and raising tenants’ awareness of energy saving.
  • Expanding smart metering infrastructure and installing hydraulic balancing systems.
  • Installing master meters in every building across the portfolio.
  • Helping tenants obtain governmental subsidies in situations of financial hardship.
  • Securing affordable gas and electricity rates for 2025 and 2026.
  • Focusing on internal capacity building through in-house trainings, regular team meetings, and mentorship initiatives.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Code of Conduct for Business Partners

Climate-Related Risks & Opportunities

Physical Risks
  • Acute physical risks (extreme weather events)
  • Chronic physical risks (changes in climatic conditions)
Transition Risks
  • More stringent regulatory requirements
  • Technological change
  • Market changes
Opportunities
  • Reduction of CO2 emissions with CO2-neutral heating systems and better building insulation
  • Support for achieving climate targets through sustainable building practices
  • Lower operational costs due to improved energy efficiency
  • Increase in property value and attractiveness through sustainable refurbishments

Reporting Standards

Frameworks Used: GRI Universal Standards 2021, EPRA sBPR

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

The Sustainable Development Goals of the United Nations (UN) remain the basis of our ESG activities.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • EPRA sBPR Gold Award