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Wing Releases 2nd Annual ESG Report

Sustainability

Photo by one photo / Shutterstock.com

Wing has published its second annual ESG report, in which the real estate company provides information about its environmental, social, and governance efforts, as well as its goals, the measures it has taken, and the results it achieved in 2022.

“Environmental and social considerations are increasingly important on the Hungarian property market, and we were among the first companies to set an example by incorporating this mindset into our operations. Over the years we have developed approximately 1.35 mln sqm of property in Hungary, and while we have focused on sustainability with all the new projects in our portfolio for over 10 years, we are also striving to modernize our earlier developments,” explains Noah Steinberg, chairman and CEO of Wing.

According to a statement from Wing, the report has been prepared in accordance with the company’s first comprehensive ESG strategy, which will be finalized soon. Wing’s ESG strategy is being developed to set goals that will drive the sustainability agenda of the group in the future.

A commitment to reducing the carbon footprint of new projects is one of their key strategic goals, as this is in line with expected regulatory requirements and the EU Taxonomy.

ESG reporting is now essential in the property development market. Recent years have seen an increasing demand from multinational and Hungarian tenants that more emphasis should be placed on ESG considerations in the construction and operation of buildings.

In line with this, all of Wing’s new office buildings have been Breeam or Leed certified since 2017, and the company has set itself the minimum requirement of achieving Breeam Good or Leed Silver certifications.

Focusing on sustainability, the company shares that they consider green surroundings and developing e-mobility infrastructure key factors in building developments, as well as installations of electric car charging stations on all new properties and adding them to existing ones.

“Wing has been known for the sustainable planning, construction and operation of its buildings for years, and the company is taking its efforts even further. In addition to our core activity, our operations are aligned with ESG considerations in other areas as well. The latest report is another opportunity for us to communicate our environmental, business, and social sustainability efforts clearly to current and future partners, customers, tenants, and employees,” Steinberg continues.

The company states that “The preparation and publication of the annual ESG reports is a part of the process [built on] transparency, quantifiability and comparability.”

Last year Wing was among the first companies on the Hungarian property market to disclose an ESG report, and now the company’s 2022 report is available. In the document, Wing describes its business activities, its environmental and CSR efforts, the measures it has taken to ensure the well-being and development of its employees, and its governance structure.

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