Decrease of operational carbon emissions
Our priority is to eliminate as much as possible the carbon emissions associated with the operation of existing buildings, as well as those associated with future developments. We will then ensure that any residual carbon is offset or absorbed in a significant and efficient manner.
This goal cannot be achieved without calculating and understanding in detail the structure of our carbon footprint, an operation that is essential for developing an effective emission reduction strategy.
To this end, our company has published its first "Greenhouse Gas Emissions Report", following the methodology provided by the "Greenhouse Gas (GHG) Protocol," published by the World Resources Institute (WRI).
Moreover, Genesis Property has become the first real estate company in Romania to receive approval for its short-term CO2 emission reduction target for 2030 from the Science Based Targets initiative (SBTi).
Thus, our company demonstrates that its decarbonization strategy and proposed carbon emission reduction target are in line with the actions required to meet the objectives agreed upon in the Paris Agreement, aiming to limit global warming to 1.5 degrees Celsius above pre-industrial levels by 2050.
Operational emissions and embodied emissions are two significant categories of greenhouse gas emissions that are specific to the built environment. It is well-known that operational emissions are the categories of emissions that are generated during the operation of a building.
These consist of the so-called Scope 1 and Scope 2 emissions and are produced by the consumption of electricity, heat, as well as various other fuels.
Operational emissions can be reduced by applying a relatively simple strategy in two main steps:
1. Increasing energy efficiency
2. Investing in own renewable energy production sources