We prepared the first ESG report and strategy for Urbanity Real Estate Group

Urbanity Real Estate Group has focused on environmentally and socially sustainable development since its inception. This year, for the first time, it has tested its direction with the ESG report for 2022, which was prepared by experts from Frank Bold Advisory together with an ESG strategy.

ESG data reporting is increasingly required by financial institutions and corporate customers. At the same time, it is a way to better monitor and manage the performance of companies with the help of data. Last but not least, the requirements of the European legislation, which companies have to comply with, are becoming stricter. In addition, reporting sustainability data to EU standards will soon be mandatory for all companies affected by the CSRD. Not sure if and how the directive will affect your company? We would be happy to discuss this with you in a consultation.

"While the CSRD does not require companies to adopt specific targets or measures, for material topics, companies should address specific targets and commitments, as they will be asked about them by investors and banks and as significant impacts may pose a risk to the company going forward," clarifies David Janků, reporting consultant at Frank Bold Advisory.

The basis for the preparation of Urbanity's first ESG report was the creation of an ESG strategy, which enabled the introduction of measurable criteria into the operations of the entire real estate group and the setting of milestones for the next period. "Our advantage is that we have integrated ESG principles directly into our long-term business strategy, so the values it brings are not new to us. We build on brownfield sites, sustainably and to a very high technical and architectural standard, we incorporate elements of renewable energy into our operations over the long term, and we work very closely with local communities," explains Roland Hofman, CEO of Urbanity.

The primary focus of the ESG report is on climate change impacts and mitigation. The data covers, for example, the energy performance of buildings including the efficiency of the technologies used, the management of drinking, rain and waste water, landscape planting, greening and biodiversity.

"A common mistake is for companies to focus their reports on CSR activities, philanthropic projects, sponsorship or volunteering and neglect the impacts that the company's activities cause, contribute to or are linked to by business relationships. A focus on CSR is of course welcome, it is just not covered by EU ESG standards. They require companies to focus on their real impacts," says Filip Gregor, head of Frank Bold Advisory and member of the EFRAG Sustainability Reporting Board.

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