Globe Trade Centre releases ESG report 2020

By Helen Adams
The Globe Trade Centre has released its first ever ESG report, covering 2020

The Globe Trade Center has presented its first-ever ESG report, becoming the first commercial developers to do so. The report summarises the Group’s achievements during 25 years across its six markets. 

The 2020 report presents industry-unique data on:

  • GTC’s engagement in sustainable development
  • Responsible construction and asset management
  • Collaboration with local communities
  • Responding to stakeholders’ expectations

 

GTC creates humancentric properties with a focus on environment protection in all of its markets across Central and Eastern Europe. The report covers data on GTC’s performance across all markets – Poland, Hungary, Serbia, Croatia, Bulgaria and Romania. 

For the first time in the Group’s history, two entities: Globe Trade Centre S.A. and GTC Real Estate Development Hungary Zrt, received an investment rating of BBB- / with a stable outlook.

 

GTC Management Board advocates ESG transparency 

“For 25 years, we have been successfully developing our business based on a quality offering, long-term relationships with our stakeholders and the transparency of our operations”, said Yovav Carmi, President of the GTC Management Board. “The 2020 ESG report is a detailed reflection of our approach, demonstrating our quarter of a century growth journey across diverse and unique real estate markets of the CEE. With the foundation of GTC Group as people: our employees, tenants and investors, and the ambition to provide solutions in the real estate that improve the quality of their lives, we want to be crystal clear in reporting our impact on immediate surroundings. Therefore, I’m excited to share the first-ever Globe Trade Center’s ESG report, made with our key stakeholders’ needs and our shared responsibility for the environment in mind.”

 

Resource sustainability in GTC

  • The Group has decreased its electricity consumption by 193,195 MWh, 10% less than in 2019.
  • Water consumption was cut by 36% (325,353 m3), compared to the previous year. 
  • CO2 emissions limited to 108,069 tCO2e in 2020. 
  • Community engagement and development programs were implemented in 91% of properties under the operational control of GTC Group. The developers supported in total 145 public and non-public institutions and organizations in various CSR projects.

 

“The real estate industry has an important role to play in mitigating climate change and reducing environmental risks”, Ariel Ferstman, GTC’s CFO and Member of the Management Board. “We have set ourselves the goal of building and managing properties that meet the highest environmental standards, taking decisive actions to limit adverse environmental changes at all levels – strategic, financial, development. In 2020, we developed and implemented a “Green Bond Framework”, which defines the guidelines for issuing green bonds by the companies of our Group. The funds raised in this way will be used to finance or refinance existing and future projects promoting sustainable solutions and the use of alternative energy sources.”

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