Our Climate Commitment

We are aware that climate change has become one of the greatest threats of our times, with significant implications for the real estate industry.

Climate change brings multiple challenges: reducing the direct greenhouse gas emissions we produce, managing our carbon footprint, and developing assets that are resilient to climate change.

We are aware of and monitor the impact that these climate changes can have on our business, and therefore, we have decided to take our share of responsibility and act.

We, Genesis Property, commit to:

  1. Achieving nZEB, BREEAM Outstanding, and IMMUNE Resilient certifications for all buildings in our portfolio by 2026;
  2. Achieving ZEB certification for our entire portfolio by 2030;
  3. Reducing emissions based on scientific evidence, in line with the goal of limiting the temperature increase to 1.5°C;
  4. Becoming a Zero Carbon company by 2040.

 

 

As a result of these commitments, our company has published its first "Greenhouse Gas Emissions Report", following the methodology outlined by the "Greenhouse Gas Protocol" (GHG) published by the World Resources Institute (WRI).

Greenhouse Gas Emissions Report

Based on this document, Genesis Property has become the first company in its field in Romania to commit to reducing its near-term emissions and, moreover, has already obtained validation from the "Science-Based Targets Initiative" (SBTi) for its near-term CO2 emission reduction target by 2030 (Near Term Target).

Thus, the company has committed to reducing emissions from Scope 1 and 2 by at least 46% by 2030, compared to the baseline year of 2019.

The next major goal for Genesis Property is to obtain, by 2026 at the latest, validation from the Science Based Targets initiative (SBTi) for its long-term CO2 emissions reduction target (Long Term Target), for which the company has already taken the first steps, having received the registration approval from SBTi for its short-term and long-term emissions reduction commitments.

At Genesis Property, we consider climate change to be a primary risk and a significant material issue. In accordance with the recommendations of the "Task Force on Climate-related Financial Disclosures" (TCFD), launched in 2017 to encourage companies to build resilience to the potential effects of climate change, we have decided to fully support the TCFD recommendations. Starting 2025, we intend for our sustainability reports to fully comply with its methodology.

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