VGP NV: Commits to be Carbon Neutral by 2025
PRESS RELEASE
2 March 2021, 7:00am, Antwerp (Berchem), Belgium: VGP NV (‘VGP’ or ‘the Group’), a European provider of high-quality logistics and semi-industrial real estate, is committed to further implementing comprehensive and sustainable measures along its sustainability strategy in the next years to achieve carbon neutrality by 2025. To this end the company has now set itself new and ambitious targets.
VGP has conducted a comprehensive carbon footprint analysis to better asses the climate impact of its operations. Based on this analysis, VGP has derived several targets that will allow the company to achieve carbon neutrality by 2025. In addition, VGP commits to reduce Scope 1 and 2 GHG emissions by 50 percent by 2030 from the base year 2018. More details on VGP’s approach to Scope 1-3 emissions and targets can be found in the Corporate Responsibility Report which has been published today.
Founded as family business and at the interface of construction, logistics, industry, and transport, VGP wants to make an impactful contribution to a more sustainable economy and a more mindful use of natural resources. The publication of its second Corporate Responsibility Report shows comprehensively how VGP's sustainability strategy has developed over the past years and what its future focus will be to reach the goal of carbon neutrality.
Jan Van Geet, CEO of VGP, stated: “Our commitment to become carbon neutral by 2025 is a very personal concern for me. I want to realize the necessary changes that are in our hands now to best preserve existing resources for future generations. I am also convinced that all our actions towards a more sustainable future will have a positive impact and strengthen our ties with all our stakeholders such as tenants, municipalities, investors, business partners, and employees.”
VGP’s Corporate Responsibility Report 2020 underscores the company’s progress and commitment to strengthening sustainability efforts across its day-to-day business amid the COVID-19 pandemic. The protection of the health and wellbeing of VGP’s employees has been a top priority in 2020 while ensuring a minimum impact on the construction progress of the VGP parks at the same time.
Another important step on the way to carbon neutrality has been the accelerated BREEAM (Building Research Establishment Environmental Assessment Method) certification efforts with 35% of the portfolio now certified, as well as the considerable expansion of the green power generation capacity of VGP Renewable Energy’s business to 42.5 MWp, with another 53.3 MWp in the pipeline. The VGP Foundation, founded in 2019, received a contribution of €3 million from VGP in 2020 and identified 16 initial projects for which over € 1 million has been spent. Furthermore, VGP has committed to provision an additional €4 million contribution for 2021.
Further details on VGP’s sustainability measures and initiatives as well as its overall strategy can be found in the detailed Corporate Responsibility Report at the following link:
LINKS
CONTACT DETAILS FOR INVESTORS AND MEDIA ENQUIRIES
| Martijn Vlutters (VP – Business Development & Investor Relations) | Tel: +32 (0)3 289 1433 |
| Petra Vanclova (External Communications) | Tel: 07 |
| Anette Nachbar Brunswick Group | Tel: 63 |
ABOUT VGP
VGP is a pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate. VGP operates a fully integrated business model with capabilities and longstanding expertise across the value chain. The company has a development land bank (owned or committed) of 7.65 million m² and the strategic focus is on the development of business parks. Founded in 1998 as a family-owned real estate developer in the Czech Republic, VGP with a staff of over 260 employees today owns and operates assets in 12 European countries directly and through its joint ventures. As of Dec 2020, the Gross Asset Value of VGP, including the joint ventures at 100%, amounted to €3.84 billion and the company had a Net Asset Value (EPRA NAV) of €1.35 billion. VGP is listed on Euronext Brussels and on the Prague Stock Exchange (ISIN: BE0003878957).
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