Real estate, traditionally a safe haven for money in times of crisis, is increasingly scrutinized under these circumstances. Because they are responsible for 36 percent of CO2 emissions and 40 percent of energy consumption, capital invested there damages the balance sheet and reputation of investors. They risk a negative balance in ESG (Environmental, Social, and Governance) and CSR (Corporate Social Responsibility) – and thus disadvantages in competition.
In recent weeks, the board, in collaboration with the chairman of the supervisory board, has elaborated such a strategy. For the first time in the history of our company it is articulated in writing and in detail. Why? Because the past years have demonstrated how rapidly and unexpectedly the world, markets, technology, and our responsibilities may change. It is beneficial to have clearly and comprehensively summarized the framework within which we intend to operate as well as the outcomes we seek. Within this framework we have significant freedom to contribute our individual talents and abilities as a team.