15.11.2023

Sustainable success: LEG’s near-term climate targets validated by the Science Based Targets initiative (SBTi)

  • Ambitious assessment criteria by SBTi: formulated targets are based on sound scientific findings
  • Near-term reduction of CO2 emissions in Scope 1 and 2 by around 46 percent by 2030, in Scope 3 by around 28 percent
  • SBTi validation affirms LEG’s CO2 reduction pathway to achieve the Paris Agreement 1.5 degree target

LEG Immobilien SE's ambitious near-term emissions reduction targets have been validated as science-based and in line with the Paris Agreement 1.5 degree target by the Science Based Targets initiative (SBTi).

According to its decarbonisation pathway, the company has set itself the goal of reducing its Scope 1 and Scope 2 emissions by around 46% by 2030 compared to the base year 2019. In addition, Scope 3 emissions in the upstream and downstream value chain are to be reduced by around 28% by 2030 compared to the base year 2019.

"We are delighted to receive independent confirmation of our ambitious CO2 emission reduction targets from SBTi. This recognition reaffirms our commitment to the initiative and at the same time underlines the great importance of sustainability management for LEG. As a provider of good housing for people on low and medium incomes, we pay very close attention to the emissions efficiency of our individual climate protection measures. Our SBTi validation shows that with our special focus on affordable climate protection in the interests of our customers, we are also making a significant contribution to achieving the goals of the Paris Climate Agreement", says Lars von Lackum, CEO of LEG Immobilien SE.

Sustainability has been an important part of LEG's corporate strategy for many years. In addition to the scientifically based targets, LEG is striving to achieve climate neutrality by 2045. In doing so, the company is guided by the applicable German and European climate protection requirements. Three key levers for decarbonising LEG's portfolio are the optimised use of existing heating systems through AI-controlled thermostats with the Joint Venture termios, the installation of air-to-air heat pumps, particularly as a cost-effective replacement for gas-fired floor heating systems, via the Joint Venture dekarbo° and full energetic refurbishment using digital and serial processes with the Joint Venture RENOWATE. In addition, the company is constantly working on various green and emission-efficient innovations.

The SBTi is a cooperation between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes science-based climate protection targets for companies worldwide and evaluates them independently.

 

About LEG

With around 167,000 rental apartments accommodating some 500,000 residents, LEG SE is a leading listed housing company in Germany. The company maintains eight branches and is also represented at select locations with personal local contacts. From its core business of renting and leasing, LEG SE generated revenue of around €1.15 billion in fiscal year 2022, with an average rent of 6.32€/sqm. With a share of around one-fifth social housing and its ongoing commitment towards efficient climate protection – including serial refurbishment with the RENOWATE subsidiary founded at the beginning of 2022 – LEG underscores its dedication to sustainability in various areas.

 

Contact Investor Relations:

Frank Kopfinger

Phone +49 211 45 68-550

E-mail: frank.kopfinger@leg-se.com

 

Contact Press:

Sabine Jeschke

Tel. +49 211 45 68-325

E-mail: sabine.jeschke@leg-wohnen.de

 

Disclaimer

This publication constitutes neither an invitation to buy nor an offer to sell securities. Insofar as we express forecasts or expectations or make statements relating to the future in this document, these statements may involve known and unknown risks and uncertainties. These statements express the intentions, beliefs, or current expectations and assumptions of LEG Immobilien SE. Forward-looking statements are based on current plans, estimates and projections made by LEG Immobilien SE to the best of its knowledge but are not guarantees of future performance. Actual results and developments may therefore differ materially from the expressed expectations and assumptions.

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