NEPI Rockcastle, a leading investor and developer in retail real estate for Central and Eastern Europe, has increased the sustainability targets for the following decade and aims to become carbon neutral by 2030. The Group’s initiative meets the EU’s efforts to combat climate change through carbon neutrality. BuildGreen, a leading advisor in the field of sustainable development in Central and Eastern Europe, will provide NEPI Rockcastle carbon-neutral audit and sustainability strategy, to meet the Group’s target and support the line created within the realms of the Paris Agreement.
In order to strengthen its commitment to a sustainable future and to improve its sustainability performance, NEPI Rockcastle has established the following set of Group targets for the next decade:
Become carbon neutral until 2030;
Reduce emissions from construction by 30 percent until 2030;
Achieve zero waste to landfill until 2025;
Develop a Group Strategy for Biodiversity by 2025.
These targets surpass the Group’s previous objective of reducing its carbon footprint by 20 percent until 2030.
Achieving net-zero carbon emissions by 2030, within the whole value chain, includes customers, service providers and material suppliers, contractors and those connected to the construction and operations of the buildings, as well as the infrastructure and communities that NEPI Rockcastle creates through its real estate investments.
The decision comes in the vanguard of EU’s recent pledge to become the world’s first climate-neutral continent by 2050. During the following decade, the EU plans to reduce greenhouse gas emissions to 60 percent by 2030.
As one of the very early adopters of carbon neutrality strategies in Europe, NEPI Rockcastle wants to make the targets along the way even more ambitious. The Group is undergoing a significant carbon footprint audit and sustainability strategy aimed at drastically reducing greenhouse gas emissions and reaching carbon neutrality as early as possible.
In this scope, NEPI Rockcastle co-opted BuildGreen, leading advisor in the field of sustainable development in Central and Eastern Europe, to set the concrete action plan in order to fulfil the Group’s vision.
“Carbon footprint and climate change are amongst the most important topics around the globe and NEPI Rockcastle recognizes the challenges ahead. Therefore, we plan to contribute to a greener environment by becoming carbon neutral in all our 54 properties across the group in nine countries, by 2030. The Group thus supports the Paris Agreement and encourages the Green Deal targets recently announced by the European Union”, said Alex Morar, CEO NEPI Rockcastle.
“We have been working together with NEPI Rockcastle over the past years, at aligning its entire property portfolio to the highest BREEAM sustainability standards. Turning towards carbon neutrality comes as a natural step forward, in response to one of today’s most stringent environmental challenges. The Group’s vision synchronized perfectly with our own ambition to help property owners reach the EU Green Deal targets. We are therefore honoured to be part of NEPI Rockcastle’s respectful decision to make all necessary steps in order to reduce carbon footprint and become carbon neutral by 2030”, commented Razvan Nica, Managing Director BuildGreen.
Based on its 10-year experience as a leading consultant and assessor for sustainable buildings, BuildGreen offers carbon neutrality audit and sustainability strategy services. In other words, sustainable development certifications become a tool that technically supports clients in achieving their carbon neutrality objectives. BuildGreen thus embarks in today’s most challenging sustainability act in the world: to help investors, real estate developers, public institutions, communities and other stakeholders to reach carbon neutrality in line with the European Union’s Green Deal (Note for editors: the European Green Deal is a set of policy initiatives by the European Commission with the aim of making Europe climate neutral by 2050. More details here).
BuildGreen provides a set of tools to establish the current sustainability performance of the entire property portfolio and a long-term sustainability strategy towards carbon neutrality. Concrete steps include:
Carbon footprint calculation according to ISO 14064 standards
Annual sustainability action plan and reporting
Proposed solutions for reducing greenhouse gas emissions
Carbon offsetting strategy
On-going consultancy during the implementation of the carbon neutrality strategy
“Existing sustainable development methodologies such as BREEAM and LEED, act as a stepping stone for property owners towards carbon neutrality. The certification of sustainable developments already requires carbon footprint strategies and actions for reducing GHG emissions. The high BREEAM In-Use certification levels obtained by NEPI Rockcastle’s CEE properties represent a very good example, as the Group has already gone through a complex process to implement high energy efficiency standards, low-carbon technologies and other sustainable solutions in its entire portfolio. The BREEAM In-Use certification brings the company close to carbon neutrality”, explains Razvan Nica.
In the past years, NEPI Rockcastle has implemented a set of climate actions for minimizing the environmental impact and reducing carbon emissions within its portfolio:
All properties in Central and Eastern Europe obtained BREEAM certification
All shopping centres in NEPI Rockcastle portfolio provide electric car charging stations
50 percent of the Group’s energy sources come from renewable energy
Construction of photovoltaic parks starting from 2023
The Group started conducting environmental impact studies, implementing dedicated environmental and sustainable procurement policies
“Zero Waste to Landfill” program – the 4Rs: reduce-reuse-recycle-repeat
Feasibility studies were started in the direction of implementing alternative energy production solutions in the next 3-5 years, respectively energy independence in the next 10 years
Dedicated building operational centre project for better monitoring of the consumptions and operation of the building equipment.
Together with BuildGreen, NEPI Rockcastle foresees the next 10 years with massive investments towards carbon neutrality, such as renewable energy, higher levels of energy efficiency and carbon offsetting.
