LEG Immobilien SE ESG 2022 | Approach And Commitment With IR

Excerpt

Frank Kopfinger, the Head of Investor Relations and Strategy at LEG Immobilien SE presents a comprehensive update on their Environmental, Social, and Governance (ESG) agenda for 2023.

Commitment to Climate Neutrality: Frank emphasizes the company’s commitment to achieving climate neutrality by 2045. This goal aligns with the German Climate Change Act and the Paris Climate Treaty.

Environmental Targets:

LEG Immobilien SE’s environmental ambitions aren’t new—they’ve been building upon targets set as far back as 2021. These goals are abstract ideals closely tied to the company’s remuneration system.

Carbon Emission Reduction:

A highlight is the company’s ambition to reduce CO2 emissions by 4,000 tons in 2023. Impressively, these reductions depend solely on initiatives the company can control directly without relying on third-party actions. Kopfinger shines a light on the importance of tenant education, suggesting that making tenants aware of their consumption behaviours might have more substantial energy-saving effects than previously thought.

Road to Targets:

Delving into the nitty-gritty, Frank outlines the three pillars the company believes will lead them to their lofty goals:

Energy Transition:

This remains the most significant contributor, accounting for 70% of their path to climate neutrality. The strategy revolves around moving from fossil fuels to green district heating and electricity. Given that 30% of the company’s heating is already district-sourced, this transition is already in motion. Additionally, they are actively exploring ways to harness more green energy internally, suggesting that their biomass plant might be part of this solution.

Energetic Refurbishment:

Accounting for up to 30% of their proposed improvements, LEG Immobilien SE is transitioning to a more holistic refurbishment method. By looking at properties as a whole rather than individual problem areas, they aim to achieve superior energy efficiency outcomes.

Tenant Consumption Behavior:

Behavior plays a huge role in energy consumption. Thus, the company believes that even minor shifts in how tenants use energy can result in significant savings. They have already been piloting a ‘tenant nudging’ program, which has expanded based on its success in the winter of 2022.

Key Initiatives:

Frank further underscores three transformative initiatives by LEG Immobilien SE:
Renovate: This JV aims to overhaul the property modernization process. Industrializing the process minimises time and reduces costs for landlords and tenants.

Xero Pro:

Xero Pro offers a digital solution to address the new legal obligations for efficient hydraulic balancing in larger properties. Partnering with leading smart meter providers, this initiative is all about optimizing radiator efficiency, leading to significant energy and cost savings.

Partnership with Mitsubishi Electric:

Introducing air-to-air heat pump technology might be a game-changer. Not only does it facilitate the electrification of heating systems, but it also bridges the gap in CO2 footprint reduction for buildings with lower energy efficiency ratings. Implementing this could save the company around 500 million euros by 2030 in decarbonization costs.

In conclusion, while recognizing the monumental challenges of decarbonization in the real estate sector, LEG Immobilien SE showcases their proactive stance by introducing innovative solutions. Frank Kopfinger wraps up by inviting viewers to engage with him and the investor relations team for any further 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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