ESG
ESG refers to environmentally friendly and sustainable business practices.
Fabian Bauwens-Adenauer
“We are aware of this responsibility and have aligned our corporate values and management, as well as control processes with it. We are continuously working on improving ourselves and our business.”
Environmental / Social / Governance
Buildings, especially residential real estate, impact the environment in which we live. The negative effects of unsustainable business practices on the environment and people have long-term consequences. According to several studies by the Environment Program of the United Nations, the construction and building sector is responsible for around 38% of global CO² emissions.
We feel obliged to act accordingly, both in the ongoing management of our properties and in new developments. We implement environmentally friendly policies and put ESG at the center of the work we do.
What do we do?
Environmental
- Using environmentally friendly and sustainable materials (e.g. wood construction)
- Choosing appliances that optimize energy and water usage during renovations
- Targeting sustainability certifications for new developments
- CO² compensation in myclimate carbon offset projects in developing countries
- GAR headquarters is located in a certified building according to the DGNB (German Sustainable Building Council)
Social
- Prioritize respectful interactions with tenants, employees, investors, and business partners
- Supporting various initiatives for existing tenants carried out by our US partners
- Creating equal opportunities and foster diversity
- Sponsor of the Kölner Grün Stiftung (Foundation for the maintenance and preservation of the park system referred to as “the green belts of Cologne”)
- Sponsor of the Angel-Tree initiative in the United States
- Sponsor of the Cologne Crocodiles (local American football team)
Governance
- We act in accordance with the Code of Conduct of the GAR Group of companies
- We act in accordance with the Rules of Conduct of the Royal Institution of Chartered Surveyors (RICS)
- Increasing focus of our management and control processes on relevant aspects of ESG
- Participation in the Principles for Responsible Investment (PRI) course: “Getting Started in Responsible Investment”
Case Studies
Environmental
Emissions are compensated in myclimate carbon offset projects in developing countries. These projects meet the highest standards (Gold Standard, Plan Vivo) and contribute to the Sustainable Development Goals (SDG) by the UN.
Thus, myclimate projects not only reduce greenhouse gas emissions, but also contribute to social, ecological, and economic development in the region.
Social
In Texas and Georgia, GAR organizes Christmas campaigns for families in need together with its US partner Dayrise Residential. In 2022, nine multifamily properties were selected for this purpose.
As every year, children were ecouraged to add their personal wish list to the festive “Angel Tree” and after a lottery selection, one of their wishes is granted. The campaign is organized by the local Property Management, while the financial commitment for the campaign was USD 25,000.
