- Publication of ESG report based on international standards
- Voluntary auditor‘s review
- Renowned Science Based Targets initiative confirms climate goals
Vienna, 17.05.2024 – UBM Development AG has released its ESG report for the 2023 financial year. On 138 pages, it documents numerous goals and measures in the areas of environment, social and governance.
Proactive ESG reporting
This voluntary report was prepared, as in previous years, in agreement with the internationally recognised GRI-Standards 2021 issued by the Global Reporting Initiative and subjected to an independent, external review by an auditor. UBM also incorporated key frameworks and norms like the UN Global Compact, TCFD (Task Force on Climate-related Financial Disclosures) and the Sustainable Development Goals (SDGs) of the United Nations in its reporting. For 2023, UBM again calculated the company’s full corporate carbon footprint and included detailed information in the ESG report.
UBM is, with this report, preparing for the introduction of reporting requirements by the EU. The materiality analysis is scheduled for updating in 2024 in agreement with the CSRD. UBM falls under CSRD reporting requirements beginning with the 2025 financial year and will report its sustainability information based on the ESRS and EU Taxonomy.
The full ESG report 2023 can be downloaded from the UBM homepage under the menu point “esg management.“. It is no longer printed in line with sustainability objectives.
Decarbonisation: Science Based Targets confirmed
The internationally renowned Science Based Targets initiative (SBTi) officially confirmed the verification of UBM’s scientifically based emission goals in January 2024. “That currently makes UBM one of only eight real estate companies in Austria and Germany with approved Science Based Targets, and the only one with a net zero goal by 2050. The validation of our climate goals by an independent organisation again confirms our commitment to sustainability, which is an integral part of our strategy,“ commented Thomas G. Winkler, CEO of UBM Development.
Decisive for confirmation by SBTi is the verifiable focus of the defined goals on the fulfilment of the Paris Climate Agreement and the containment of global warming to 1.5°C. Specifically, UBM commits to a 42% reduction in Scope 1 and 2 emissions by 2030 (versus 2022). The company is aiming to become net zero by 2050 through a 90% reduction in Scope 1+2+3 emissions by 2050 at the latest (versus the basis year 2022) and will then compensate the remaining emissions.
UBM is currently working to develop a concrete plan to transition the climate goals. The progress in goal attainment will be communicated transparently and in detail in the annual ESG report and as part of the CDP rating.
UBM Development is one of Europe’s leading developers of timber construction projects. The strategic focus is on green building and smart office in major cities like Vienna, Munich, Frankfurt and Prague. With 150 years of experience, UBM offers all development services from a single source, from planning to marketing. The shares are listed on the Prime Market of the Vienna Stock Exchange, the segment with the highest transparency requirements.
For additional information contact:
Christoph Rainer
Head of Investor Relations & ESG
UBM Development AG
Mob.: + 43 664 80 1873 200
E-Mail: christoph.rainer@ubm-development.com
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