LEG Immobilien SE ESG | Approach And Commitment With IR

LEG Immobilien SE ESG: Key Takeaways

Frank Kopfinger on LEG Immobilien SE’s ESG Agenda for 2023

Frank Kopfinger, as the Head of Investor Relations and Strategy at LEG Immobilien SE, offers an insightful update on the company’s Environmental, Social, and Governance (ESG) agenda for 2023.

Commitment to Climate Neutrality

Frank sheds light on the firm’s dedication to realizing climate neutrality by 2045, aligning with the German Climate Change Act and the Paris Climate Treaty.

Environmental Targets of LEG Immobilien SE

The company has consistently built upon environmental objectives, establishing them even back in 2021. These objectives, interlinked with the firm’s remuneration system, go beyond mere statutory compliance.

Reducing Carbon Emissions

A significant ambition highlighted is the endeavor to cut down CO2 emissions by 4,000 tons in 2023. This initiative is remarkable as it solely depends on strategies that the company can directly manage without the influence of third-party actions. Frank emphasizes the pivotal role of tenant education in magnifying energy-saving impacts by fostering awareness of consumption behaviors.

Road to Achieving Targets

Frank meticulously outlines three foundational pillars believed to guide the company toward its ambitious goals.

Energy Transition Strategy

Contributing to 70% of the journey towards climate neutrality, the strategy entails a shift from fossil fuels to green district heating and electricity. With 30% of the company’s heating already derived from district sources, and ongoing explorations to leverage more internal green energy, such as potentially utilizing their biomass plant, the transition is notably underway.

Comprehensive Energetic Refurbishment

LEG Immobilien SE is evolving toward an all-encompassing refurbishment approach, which represents up to 30% of their proposed improvements, by viewing properties holistically instead of isolating individual issues, aiming to garner enhanced energy efficiency results.

Tenant Consumption Behavior Adjustment

Believing that behavior significantly impacts energy usage, even slight alterations in tenants’ energy-utilization practices can yield meaningful savings. A ‘tenant nudging’ program has been piloted and expanded, following its success in the winter of 2022.

Key Initiatives Undertaken

Furthermore, Frank highlights three transformative initiatives implemented by LEG Immobilien SE:

Renovate Initiative

The Renovate Joint Venture (JV) aspires to revolutionize property modernization. Industrializing the process not only minimizes time but also cuts costs for both landlords and tenants.

Xero Pro Initiative

Xero Pro introduces a digital solution that addresses new legal requirements for efficient hydraulic balancing in larger properties. By collaborating with top smart meter providers, this initiative aims to optimize radiator efficiency, leading to substantial energy and cost savings.

Collaboration with Mitsubishi Electric

The partnership with Mitsubishi Electric, utilizing air-to-air heat pump technology, is poised to be a game-changer. It not only enables the electrification of heating systems but also closes the CO2 footprint reduction gap for buildings with lower energy efficiency ratings. Implementing this technology could potentially save the company around 500 million euros by 2030 in decarbonization costs.

Conclusion and Invitation

Recognizing the colossal challenges that decarbonisation presents in the real estate sector, LEG Immobilien SE exhibits a proactive approach by introducing pioneering solutions. Frank Kopfinger concludes by inviting viewers to connect with him and the investor relations team for additional inquiries or clarifications.

Chapters

Strong CO2 Reduction of 15% in 2022
Transition roadmap towards climate neutrality
LEG positions itslef as first mover solutions provider

Resources

Host

Frank Kopfinger, CFA
Head of Investor Relations & Strategy | LEG SE

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