2021 ESG report: GTC reduced its carbon footprint by 62% in Romania
Bucharest, July 2022: GTC reduced greenhouse gas emissions of its office building by 62% in Romania and by 44% in Poland, according to the latest ESG report published recently by the Group. Reports second edition highlights that 88% of GTC's portfolio is environmentally certified and the success of GTC Group’s “green” eurobonds in 2021.
The report brings industry-unique data on GTC’s engagement in sustainable development, responsible construction and asset management, collaboration with local communities and responding to stakeholders’ expectations.
In the last year, GTC has significantly improved its operations in terms of environmental impact. Due to the technologies used and the introduction of green energy, the Group reduced the carbon footprint of the office buildings by 62% in Romania and by 44% in Poland. Water consumption was 301,815 m3, 7% less than in 2020, and there was also a reduction in waste by 7% (10% LfL). Total energy consumption in GTC’s buildings and HQ is 789,444 GJ (219,290 MWh), which is 14% more compared to 2020. Total electricity consumption (LfL) in GTC’s buildings and HQ is 128,464 MWh which is almost on the same level as in 2020 (0.1% less). The annual CO2 emission per sq. m of building area was 132 kg CO2e/sq. m compared to 145 kg CO2e/sq m in 2020. The detailed information is presented in Chapter 5 of the report: “ESG Results summary”.
GTC has a long-standing commitment to creating human-centric properties with a focus on environmental protection in all its markets in Central and Eastern Europe, equipped with the latest solutions that meet the stringent industry requirements. Last year was marked with great success, since all Romanian and Polish offices of the company are currently powered by green energy, and local offices are also involved in environmental activities. In 2021, GTC obtained and renewed green certificates for 18 buildings and for another 12 in early 2022. Currently, 88% of the GTC portfolio, with a total value of EUR 1.7 billion, has environmental certificates, while the remaining buildings are undergoing certification.
“Our business strategy relies on the principles of sustainable development, and we strive to manage our assets in line with to the best ESG practices. In 2020, we took on the duty to disclose our non-financial performance in accordance by the highest industry standards to provide our key stakeholders with knowledge about ESG management and results in a credible, transparent and comparable manner, and also to involve them in the process. As a responsible investor and a good neighbor to our local communities, we present the 2021 ESG report as proof of commitment to this mission. On this occasion, I’d like to thank our extended GTC family: employees, tenants, shareholders, business partners and local communities across the whole CEE for being a part of this journey” – commented Zoltan Fekete, CEO and the President of GTC Management Board.
For GTC, 2021 was a milestone year as the Group issued Green Eurobonds, which allowed the company to refinance secured loans and deliver green projects. The issue took place under the Green Bond Framework. The benchmark 500 million euro bond issue was possible due to the company’s performance and prospects, commitment to sustainable development, and environmentally friendly business conduct.
When it comes to social factors, in 2021 the company continued to support local communities by providing space in shopping centers for local initiatives and encouraging employees and tenants to engage in CSR activities. GTC’s economic impact in 2021 was EUR 113,000,000. Last year community involvement and development programs were implemented in 28 GTC properties under the operational control of the Group. In total, GTC supported 15 NGOs and 37 social organizations.
The report was prepared in accordance with the GRI Standards, CORE. The following aspects were taken into account in the presentation of the approach and indicators: European Commission and TCFD (Task Force on Climate-related Financial Disclosures); EPRA Sustainability Best Practices Recommendations Guidelines; The United Nations Sustainable Development Goals. The data presented was gathered from an internal reporting system that shares unique insights into the Group’s approach to sustainable development and responsible business principles.
The full 2021 GTC ESG report can be viewed at: http://ir.gtc.com.pl/en/reports/esg/2022.