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2020-08-17

DGAP-News: Corestate converts its entire €17 billion portfolio in Germany to green electricity and thus extends its pioneering role in real estate ESG strategy

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate
Corestate converts its entire €17 billion portfolio in Germany to green electricity and thus extends its pioneering role in real estate ESG strategy

17.08.2020 / 07:00
The issuer is solely responsible for the content of this announcement.


Corestate converts its entire €17 billion portfolio in Germany to green electricity and thus extends its pioneering role in real estate ESG strategy

  • Savings of 104,000 tons of CO2 in the commercial portfolio by 2024
  • Anticipation of future sustainability requirements by investors and regulation
  • Higher efficiencies through real-time monitoring

Frankfurt/Main, August 17, 2020. Corestate Capital Holding S.A. (Corestate), a leading independent real estate investment manager in Europe, will be converting its entire €17 billion portfolio managed in Germany to green electricity over the next few months. The company recently switched completely to green energy in the commercial real estate asset class (€ 3.5 billion AuM) and has digitalized its entire metering point operations. This will save 104,000 tons of CO2 already by the end of 2024.

Lars Schnidrig, CEO of Corestate Capital Group: "Corestate made a commitment very early on to define quantifiable ESG objectives and to be measured by the results. The conversion of our portfolio to a CO2-neutral energy supply in conjunction with digital access to real-time data represents an important step with which we are further expanding our pioneering ESG role and making a positive contribution." Corestate will publish its new fully digitalized ESG report on August 24, 2020. The report will detail the implementation of the overall strategy, as well as concrete measures and new environmental, social and governance objectives across the Group. Corestate thus comprehensively anticipates the increasing importance of ecological and social factors in real estate asset management. Both on the part of regulators and investors, the quantitative recording of sustainability factors and the ecological footprint is increasingly becoming the focus of investments.

As part of the operational implementation, the operating costs company Westbridge Advisory GmbH was commissioned to restructure and sustainably optimize Corestate's German real estate portfolio. The portfolio can now be monitored continuously across the board and in real time, and optimization options can be effectively implemented. Stadtwerke Düsseldorf has been commissioned to supply the properties in the commercial portfolio.


Press Contact
Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369
jorge.person@corestate-capital.com

IR Contact
Mario Groß
T: +49 69 3535630-106 / M: +49 162 1036025
ir@corestate-capital.com


About CORESTATE Capital Holding S.A.

CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with more than EUR 28 billion in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 42 offices, e.g. in Frankfurt, London, Paris, Madrid, Zurich and Amsterdam. The company employs around 800 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. Further information may be found at www.corestate-capital.com.

Forward-looking statements

This press release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at www.corestate-capital.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.




17.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language:English
Company:Corestate Capital Holding S.A.
4, Rue Jean Monnet
L-2180 Luxembourg
Luxemburg
Phone:+49 69 3535630-107
Fax:+49 69 3535630-29
E-mail:IR@corestate-capital.com
Internet:www.corestate-capital.com
ISIN:LU1296758029
WKN:A141J3
Indices:SDAX
Listed:Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID:1119187



 
End of NewsDGAP News Service

1119187  17.08.2020 

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