Press Release




PRESS RELEASE

alstria GHG emission reduction targets approved by the Science Based Targets initiative. 

Hamburg, July 23, 2020 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) announces that its carbon reduction targets have been approved by the Science Based Targets initiative (SBTi). 

As part of alstria’s commitment to accelerate its contribution to climate protection, the company has defined science-based emission reduction targets. These were recently reviewed and approved by the Science Based Targets initiative (SBTi).

The Science Based Targets initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets.

Targets to reduce greenhouse gas emissions are considered “science-based” if they are in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement – to limit global warming to well-below 2.0°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.

alstria’s approved targets are:

  • A commitment to reduce absolute scope 1 and 3 GHG emissions 30% by 2030 from a 2018 base year.
     
  • Furthermore, a commitment to continue sourcing 100% renewable energy through 2030. 
The scope 1 target defined by alstria is in line with a well-below 2.0°C trajectory while our scope 2 target is in line with a 1.5°C trajectory. Scope 3 (downstream) target has been assessed, although it is not yet classified.

alstria is the first German real estate company to have its GHG emission reduction targets approved by the SBTi and one out of nine European real estate companies. 

“Following the introduction of the Green Dividend1, the approval of our GHG emission reduction targets by the SBTi is another milestone in our commitment to addressing climate change”, says Olivier Elamine, CEO of alstria. “With these targets, we are addressing most of our carbon impact. The missing piece is related to the carbon embedded in our construction process, which is a key area of focus to achieve a holistic approach to our decarbonization strategy”.  

1) Further information: www.green-dividend.com

Contact                                    
Philip Angrabeit                        
Steinstrasse 7                                      
20095 Hamburg, Germany                  
+49 40 226 341 389                   
[email protected]

Further information
www.alstria.com
www.beehive.work
www.twitter.com/alstria_REIT
www.linkedin.com/company/alstria-office-reit-ag

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About alstria

alstria office REIT AG is the leading real-estate operator focusing solely on German office property in selected German markets. Our strategy is based on the ownership and an active management of our properties throughout their entire life cycle, strong added-value services to our customers and deep knowledge of the markets in which we operate. alstria strives for sustainable long-term value creation while taking advantage of short-term arbitrage of inefficiencies in the real estate markets. As per March 31, 2020 the portfolio comprised 112 buildings with a lettable area of 1.5 million square meters.

Disclaimer
This release constitutes neither an offer to sell nor a solicitation of an offer to buy any shares. As far as this press release contains forward-looking statements with respect to the business, financial condition and results of operations of alstria office REIT-AG (alstria), these statements are based on current expectations or beliefs of alstria’s management. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those reflected in such forward-looking statements. Apart from other factors not mentioned here, differences could occur as a result of changes in the overall economic situation and the competitive environment – especially in the core business segments and markets of alstria. Also, the development of the financial markets and changes in national as well as international provisions particularly in the field of tax legislation and financial reporting standards could have an effect. Terrorist attacks and their consequences could increase the likelihood and the extent of differences. 

The current COVID-19 outbreak is creating substantial uncertainty in the marketplace. Although alstria has diligently reviewed the information contained in this release it is based on its own analysis and estimate, as well as available public sources and not on active discussion with tenants. As such the current liquidity risk of the tenants can materially differ from alstria’s own estimate, and the actual impact of the COVID 19 outbreak may differ substantially from the current previsions.

alstria undertakes no obligation to publicly release any revisions or updates to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. 
 

Copyright © 2020 alstria office REIT-AG, All rights reserved.

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