Climate Change Data

CPI Property Group

Climate Impact & Sustainability Data (2019 to 2020, 2023)

Reporting Period: 2019 to 2020

Environmental Metrics

Scope 3 Emissions:77.9% in 2020
Renewable Energy Share:Over 30% of CPIPG’s electricity supply is derived from fossil fuel sources (2020). Aiming for 100% renewable energy procurement by 2024.

ESG Focus Areas

  • Climate Change
  • Energy Efficiency
  • Renewable Energy
  • Environmentally Sustainable Management of Living Natural Resources and Land Use

Environmental Achievements

  • Installed more than 25,250 solar modules over a 45,000 m2 photovoltaic area generating around 9,448 MWh in total annual output, creating Berlin's largest photovoltaic system.
  • Owns and operates six cogeneration plants in its Berlin portfolio, each generating around 800 KW in electrical output and supporting the Company's carbon offsetting capabilities.
  • Certified buildings (BREEAM and LEED) represented 21.8% share of the Group's GLA, and 27% of total portfolio value as of 2020.
  • Conducts Life Cycle Analysis (LCA) on all new constructions over 10,000m2.

Social Achievements

  • Actively engages communities in project development stages by conducting surveys to garner stakeholder feedback and incorporate that into the planning and implementation phases.
  • Actively engaged in community activities that support the health and well-being of tenants.

Governance Achievements

  • Board-level CSR Committee has oversight of the Company's sustainability strategy, social and environmental risk management, corporate social responsibility, green financing and compliance.
  • Since March 2020, top management remuneration depends on the fulfilment of ESG-related KPIs.
  • In 2021, became a signatory of the United Nations Global Compact.

Climate Goals & Targets

Long-term Goals:
  • GHG emission intensity reductions equal to or lower than 0.085 tCO2eq/m2 of CPIPG’s property portfolio by 2030 (30% reduction compared to 2019 baseline).
Medium-term Goals:
  • GHG emission intensity reductions equal to or lower than 0.095 tCO2eq/m2 of CPIPG’s property portfolio by 2027 (22% reduction compared to 2019 baseline).
Short-term Goals:
  • GHG emission intensity reductions equal to or lower than 0.102 tCO2eq/m2 of CPIPG’s property portfolio by 2025 (16% reduction compared to 2019 baseline).

Environmental Challenges

  • Achieving SPTs in the real estate management industry bears environmental and social risks related to health and safety risks, create unintended waste and wastewater discharges, as well as pollution and land-use risk.
  • Most of CPIPG's GHG emissions are derived from Scope 3 (77.9% in 2020). The main source of GHG emissions in CPIPG’s portfolio stems from the operation of buildings by CPIPG's tenants, where CPIPG has indirect control.
Mitigation Strategies
  • Prior to project investment, the Group conducts a risk assessment.
  • Committed to reducing the environmental impact caused by operational activities.
  • Ensures waste management practices at buildings are in compliance with local legislation and ensures waste separation into streams relevant to building operation, recycling and occupants needs.
  • Compliant with EU legislation related to worker health and safety and focuses on raising awareness and training of teams on occupational health and safety risks.
  • Actively engages surrounding communities to mitigate any potential stakeholder issues.
  • Tenant involvement and cooperation: executed Green Memorandums (for current tenants) and Green Leases (for future tenants) on a selective basis and expects to execute more in future.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Green Bond Principles 2021, Sustainability-Linked Bond Principles 2020, GHG Protocol Corporate Standard, ISO 14064-1:2018, EU Taxonomy, Harmonized Framework for Impact Reporting

Certifications: BREEAM, LEED, EU Organic

Third-party Assurance: Sustainalytics

UN Sustainable Development Goals

  • SDG 7
  • SDG 9
  • SDG 11
  • SDG 12

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:602,642.9 t CO2e/year (2023)
Scope 1 Emissions:41,718.6 t CO2e/year (2023)
Scope 2 Emissions:85,923.9 t CO2e/year (2023)
Scope 3 Emissions:470,454.3 t CO2e/year (2023)

ESG Focus Areas

  • Governance
  • Energy Transition & Circular Economy
  • Employee Well-being & Skill Development
  • Mobility & Accessibility
  • Stakeholder Involvement
  • Business Ethics

Environmental Achievements

  • Reduced GHG intensity by 20% in 2023 compared to the 2023 target (0.073 t CO2 eq/m2 vs 0.091 t CO2 eq/m2)
  • Increased e-vehicle charging points by 156% in 2023 (906 charging points)
  • Produced 11.72 MWh of renewable energy and saved 6,186 t CO2 equivalent of carbon emissions in 2023
  • 40.6% of the total fair value of the portfolio (excluding landbank and agriculture) is green-certified.

Social Achievements

  • 98% of employees indicated pride in working for CPIPG in a 2023 survey
  • Average of 10.18 hours of training completed per employee in 2023
  • Women hold 37.9% of all Top management positions.

Governance Achievements

  • Significant improvements made since 2019 to continually improve Board independence and internal policies.
  • CPIPG follows the X Principles of Governance published by the Luxembourg Stock Exchange.
  • CPIPG’s Code of Ethics, established in 2019, sets basic standards of conduct for all employees and agents.
  • Alignment of Executive Management remuneration to ESG criteria

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • 10% reduction in water intensity of property portfolio by year 2030
  • 32.4% reduction in GHG intensity of property portfolio by year 2030
  • 10% reduction in energy intensity of property portfolio by year 2030
  • waste recycling rate of 55% by year end 2025 and 60% by year end 2030
  • Minimum of 33% share of female senior managers
Short-term Goals:
  • Purchase of electricity exclusively from 100% renewable sources by year end 2024

Environmental Challenges

  • Industry / regulation-led tightening of environmental targets
Mitigation Strategies
  • Tightened environmental targets for the future (e.g., 32.4% reduction in GHG intensity by 2030)

Supply Chain Management

Responsible Procurement
  • All new suppliers and renewals comply with Group-wide Code of Conduct for Suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: CDP, Science-Based Targets initiative, EU Taxonomy

Certifications: ISO 14064

Third-party Assurance: CI3 (regional partner for CDP reporting), UCEEB of the Czech Technical University in Prague

UN Sustainable Development Goals

  • SDG 7
  • SDG 12