Genesis Property has announced a significant step in transitioning to fully renewable energy for all buildings in its Romanian portfolio, including office buildings in the West Gate Business District and YUNITY Park business parks, as well as the West Gate Studios residential buildings that host more than 1,000 students each year. This move reaffirms Genesis Property’s commitment to sustainability and substantial environmental improvement, aiming to reduce carbon emissions across its entire building portfolio by a minimum of 3,500 tonnes of CO₂ annually. Additionally, it supports tenants in achieving their own sustainability goals, following the signing of a contract with a new energy supplier committed to delivering only certified green energy.
The electricity for the buildings owned by Genesis Property, founded by Liviu Tudor, is supplemented by the company’s production from 1,080 photovoltaic panels installed on the roofs of all buildings in YUNITY Park, generating approximately 680 MWh annually.
“Energy consumption accounts for almost 75 percent of global greenhouse gas emissions, and buildings contribute significantly to this. Therefore, achieving Genesis Property’s goals of decarbonization by 2040 and transforming the entire building portfolio to zero carbon buildings (ZEB) by 2030 requires increased attention to clean energy transition. Thus, using only renewable energy for our buildings is a key step in this direction. At the same time, we are also providing our tenants with the support they need to meet their environmental commitments,” says Ioan Bejan, ESG Director at Genesis Property.
Genesis Property has committed to achieving its goal of zero net carbon emissions 10 years ahead of schedule.
All Genesis Property buildings have been BREEAM Very Good certified since 2013. Initiatives such as the European Green Deal, aiming for climate neutrality by 2050, prompted the company to start a broad sustainability investment process as early as 2020, targeting net zero carbon emissions by 2040. In 2021, Genesis Property became the first real estate company in Romania to join the UN Global Compact global community. Since 2023, it has been the first 100 percent Romanian-owned real estate company to have its near-term carbon reduction target validated by the prestigious global organization, Science Based Targets (SBTi).
Looking ahead, Genesis Property aims to achieve nZEB, BREEAM Outstanding, and IMMUNE™ Resilient certification for all buildings in its portfolio by 2026, and ZEB certification for the entire portfolio by 2030. Additionally, starting this year, the company began reporting its ESG performance to GRESB (Global Real Estate Sustainability Benchmark), a rigorous global assessment of real estate investments aligned with the latest international sustainability reporting frameworks. It also released its first greenhouse gas emissions report, following the methodology provided by the GHG Protocol.
