CA Immo converting building operations to green electricity, gas

Sustainability

Canada Square office building in Budapest by CA Immo.

CA Immo announced converting building operations to green electricity and gas, saving more than 60,000 tonnes CO2 emissions annually from 2023 onwards, according to a press release sent to the Budapest Business Journal.

Keegan Viscius, chief investment officer (CIO) of CA Immo said, "For the real estate industry, increasing energy efficiency and reducing greenhouse gas emissions over the entire building life cycle are the most important levers for achieving climate targets. With the Group-wide conversion in energy purchasing to green electricity and climate-neutral gas, we can significantly and positively influence the CO2 footprint of our investment portfolio. This is another step towards climate-neutral building operations and a decarbonized economy."
 
The electricity supply for the common areas and the cooling of all multi-tenant buildings – office properties in Germany, Vienna, Prague, Warsaw, Budapest and Bucharest with a total book value of around EUR 4 billion – will be 100% green electricity from 2023 at the latest. The supply of electricity to the own-used CA Immo offices will also be converted to green electricity.

If the local availability of carbon-neutral gas is not sufficient to cover the demand, remaining CO2 emissions will be offset by purchasing CO2 reduction certificates from the respective supplier or a third-party provider, the company says. By purchasing CO2 reduction certificates, CA Immo supports forest protection and international reforestation projects, for example.

The necessary national tenders were completed in the second quarter of 2021, and the conversion of real operations to green electricity and gas will take place gradually after the current energy contracts expire by 2023.
 
In addition, the company plans to upgrade its entire investment property portfolio with digital meters (smart meters) within the next few years. This will enable the digital, real-time recording of consumption data for individual buildings and thus effective monitoring and controlling of ongoing consumption and emission data. CA Immo is supported in the operational implementation of these measures by Argentus, the leading consultant for operating cost optimization and sustainable building management in Germany.

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