Berlin, 10 August 2023
The state-owned housing company Gewobag has achieved a very good result in international sustainability rating agency Sustainalytics‘ ESG rating and attained the lowest risk category. In total, more than 1,000 companies from the real estate sector are evaluated by Sustainalytics, and Gewobag achieved 8th place with a rating result of 6.6 points. For the assessment the following applies: the smaller the score, the more stable a rating the company receives.
„The goal of climate neutrality leads to an unprecedented need for investment in the refurbishment of our stock, the financing of which is one of the major challenges of the next few years“, says Markus Terboven, member of the Gewobag board. „We are among the top one percent of companies rated by Sustainalytics. This very good ESG rating means we are able to act flexibly on the capital market, while also opening up new financing opportunities for new-build construction and modernisation.“
Improvement on the previous year
The ESG rating assesses the handling of industry-specific, material sustainability issues and the associated risks in the areas of environment (Environment), social affairs (Social) and corporate governance (Governance). On a scale from 0 to 40+ points, Gewobag achieved 6.6 points. For comparison: After the first rating in 2022, the company was already classified in the second-lowest risk category with 11.8 points.
„We are continuously working on refurbishing our properties in order to significantly reduce energy consumption and save large amounts of CO2 emissions – this is gradually bringing us closer to the goal of attaining climate neutrality by 2045. The good ESG rating confirms that suitable structures have been created to adequately manage ecological and social issues as well as issues of good corporate governance, says Kathrin Bratke, Chief Sustainability Officer of Gewobag and Head of Strategic Corporate Development.
Advantages of a positive ESG rating
ESG ratings play an important role in the EU market for sustainable finance – they give investors and financial institutions the opportunity to assess and compare companies‘ sustainability performance and learn more about a company’s values and strengths. Companies with a positive ESG rating are considered less risky as they are more likely to operate sustainably and have good corporate governance.
About Sustainalytics:
Sustainalytics is an independent provider of ESG research, ratings and data, as well as responsible investment services. With offices in sixteen countries on four continents, Sustainalytics is one of the largest international sustainability rating agencies. More than 15,000 companies from over 40 industries worldwide already have an ESG rating from Sustainalytics.
About Gewobag
With over 74,000 apartments and more than 130,000 tenants, Gewobag is one of the largest property companies in the capital and in Germany. By 2030, the state-owned housing company wants to expand its stock by around 10,000 apartments through new construction.
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More information on Gewobag can be found at: www.gewobag.de