SIGNA Real Estate publishes Sustainability Reports 2022

SIGNA Real Estate publishes Sustainability Reports 2022

• First carbon footprint for SIGNA Prime and SIGNA Development
• Commitment to net zero based on SBTi
• First voluntary audit by independent auditor
• Integration of EU taxonomy
• Top ESG ratings

Vienna, June 26, 2023 — SIGNA Real Estate has published its Sustainability Reports 2022 for SIGNA Prime Selection AG (SIGNA Prime) and SIGNA Development Selection AG (SIGNA Development). These reports focus on SIGNA’s commitment to net zero. The 2021 fiscal year saw the calculation of a full corporate carbon footprint (CCF) for the very first time. It shows that work is underway on short and long-term climate targets and an appropriate decarbonization pathway. Around 80% of the sustainability strategy of both companies has now been delivered.

Carbon footprint as basis for low-emission business processes
Preparation of the first corporate carbon footprint was front and center in 2022. All relevant scope 3 emissions were also mapped to gain a comprehensive picture of both companies along the entire value chain. The analysis shows that around 352,000 metric tons of CO₂e were emitted by SIGNA Real Estate in 2021. The calculation process was also subjected to a critical review by the Austrian Federal Environment Agency.

SIGNA is playing a pioneering role in the real estate sector in Austria with its broad carbon footprint. “Tackling climate change needs decisive action. The corporate carbon footprint provides a thorough basis for immediate and targeted action on the road to net zero”, says Timo Herzberg, CEO of SIGNA Real Estate.

In May 2023, SIGNA Real Estate made a commitment to set science-based climate targets, and registered its commitment with the Science-Based Targets initiative (SBTi). The CCF calculations will be used to develop SIGNA’s decarbonization pathway and emissions reduction goals. This includes specific emissions reductions, action, and target years.

Focus on reducing emissions
85% of today’s real estate in Europe will still be there in 2050. This means that how these buildings are managed will have a significant impact on decarbonization. Activities include the gradual conversion of the entire portfolio to green electricity. An EU taxonomy audit was carried out on half of the Long-term Portfolio in the 2022 reporting year. The ratio of post-certifications of buildings in SIGNA Prime’s Long-term Portfolio was increased by 119% compared to 2020. Additional action is taken on an ongoing basis.

Another driver designed to reduce emissions is sustainable project development. With this in mind, SIGNA Real Estate has produced a binding guideline that serves as a compass for employees and includes content on all issues relating to the planning and realization of buildings: from acquisition, aspects of urban area development, and mobility, through architecture and the choice of materials. An additional step towards resource-efficient construction in line with the circular economy is joining Madaster — an online registry for materials and products that facilitates the identification of potential residual value as well as the reusability of individual building components.

Voluntary audit of reports for the first time
SIGNA Real Estate’s voluntary sustainability reporting underwent an external “limited assurance” audit by an independent auditor for the first time in the 2022 reporting year. The EU taxonomy was adopted for the first time in 2022, and an external audit was also carried out.

Reporting has been based on Global Reporting Initiative (GRI) standards since 2019. Since 2021, reporting has also been based on reporting standards of the European Public Real Estate Association Sustainability Best Practices Recommendations (EPRA sBPR) and the Task Force on Climate-related Financial Disclosures (TCFD). There is also a focus on preparing for the Corporate Sustainability Reporting Directive (CSRD) for future reporting periods.

Green financing of around €1.14b since 2021
Since the publication of the Green Finance Framework 2021, SIGNA Real Estate has already concluded around €1.14b in green financing. This represents 13.4% of all new financing for 2021 and 2022. The goal is to increase the share of green financing to at least 50% by 2025. Audited Impact & Allocation Reports have also been published annually since 2022.

Top positions in ESG ratings
In September 2022, SIGNA Prime was awarded an excellent and once again improved ESG risk rating of 9.7 (“negligible risk”) by rating agency Sustainalytics compared with 11.3 (“low risk”) in December 2020. SIGNA Development was again awarded a strong rating by Sustainalytics of 9.8 (“negligible risk”). Its rating was 10.6 (“low risk”) in 2020. These ratings put both companies among the top 2% of rated companies worldwide. SIGNA Prime also ranked high in the real estate sector in the ISS ESG sustainability ratings achieving “Prime” status and “C+” at the beginning of 2023.


Sustainability Report 2022
SIGNA Prime Selection AG

Sustainability Report 2022
SIGNA Development Selection AG


About SIGNA Real Estate
SIGNA was founded in 1999 and is one of the largest real estate owners and project developers in Europe, with a strong focus on Germany, Austria, Switzerland, Italy, and also recently on New York and London. SIGNA’s real estate portfolio is widely diversified and encompasses residential, office, luxury retail and hotel properties. It also includes premium assets such as the Chrysler Building in New York, the luxury department store Selfridges in London, Hotel Bauer in Venice, the luxury department store KaDeWe and the UPPER WEST tower in Berlin, the Park Hyatt, the Goldenes Quartier, and the architectural icon Postsparkasse in Vienna, the Elbtower under construction in Hamburg, as well as the Alte Akademie building and the Oberpollinger department store in Munich. The total real estate assets amount to approximately 27 billion euros. The SIGNA projects all meet the highest demands with regard to economic efficiency, technology and sustainability. Through its projects SIGNA makes a major contribution to urban development. In this respect SIGNA not only focuses on the individual property, but also rethinks topics such as urban development, sustainability, multi-use buildings, networking, and mobility.

www.signa.at


Questions
Robert Leingruber
r.leingruber@signa.at
+43 1 5329848-0