The abbreviation “ESG” stands for environmental, social and governance and refers to criteria for the consideration of environmental, sustainability and social issues within corporate governance. In order to achieve the best possible results in the areas of environmental, social and corporate governance, we at BUWOG define clear targets and pursue them with vigour. More information about our ESG targets as well as energy efficiency and energy management in the company can be found in this blog post.
For BUWOG, sustainability, climate protection and cost awareness are important corporate goals and also a part of our corporate culture. For us, there is no question that the entire property industry will inevitably have to address ESG issues. In the coming years, greater priority will have to be placed in particular on sustainability, transparency and efficiency – on the part of property developers as well as property managers and on the part of tenants and owners.
In order to continuously improve BUWOG’s sustainability performance, we continually analyse the current situation and include the market in this analysis, upon which we formulate clear goals and develop concrete plans.
Our ESG targets:
Environment:
- Phase-out of oil and gas heating systems: conversion to district heating or other alternative forms of heating such as pellets, heat pumps, etc.
- Reduction of electricity consumption
- Installation of photovoltaic and solar systems
- Reduction of water consumption
Social:
- Safety for employees and customers
- Feasible financing or affordability for our customers
- Customer satisfaction
Corporate governance:
- Risk avoidance, e.g. timely energy procurement
- Feasibility
- Efficiency
- Cost awareness
Our energy efficiency and energy management
Optimisation of existing projects
In new construction, close attention is paid to the environmental, economic and social aspects of a project from the outset of the planning and construction phase. Optimising existing systems cost-effectively and to the satisfaction of customers can often prove to be a challenge.
Pilot projects are currently underway in Carinthia, in the course of which photovoltaic systems are being installed on existing residential buildings. BUWOG will operate the systems. The electricity generated from the photovoltaic systems can be used as general electricity or by individual tenants as electricity for their homes.
When refurbishing buildings, BUWOG ensures that this is done in an energy-efficient, cost-effective and barrier-free manner wherever possible. This includes façade refurbishments including window replacements, the installation of basement and rooftop insulation and the conversion of oil and gas heating systems to district heating and pellets.
Additional measures for increasing energy efficiency:
- Installation of charging stations
- Installation of motion detectors rather than permanent lighting
- Replacement of lighting fixtures
- Customers receive authorisation for the installation of individual photovoltaic systems on balconies
Optimisation of operating costs
In order to keep operating costs (waste separation, water consumption, electricity consumption, etc.) in our projects as low as possible, we educate tenants and owners and inform them about potential savings. The property management team also continuously evaluates the supply and maintenance contracts involved.
At the individual BUWOG locations, too, strict attention is paid to ensuring that they are managed in a cost-effective, efficient and environmentally conscious manner. To this end, building management is in regular consultation with asset management and property management and implements appropriate measures.
Internal further training in sustainability
Specific internal training programmes give BUWOG employees the opportunity to expand their expertise in the area of sustainability. One of these training courses is a pioneer in the property industry: the certified climate manager course, a training initiative developed specifically for our property management business. Since May 2023, the course has offered in-depth training in dealing with current and future climate-related issues. The BUWOG Real Estate Academy in cooperation with the ARS Academy offers another opportunity for further internal development.
BUWOG is the only real estate company that is also a partner to the klimaaktiv pact, the aim of which is to reduce greenhouse gas emissions at least 50 percent by 2030 (compared to the base year 2005).
