Constructing and operating buildings and infrastructure account for roughly half of the raw materials needed in Switzerland, one third of the CO2 emissions and over 80% of the waste. The high demand for properties and the associated construction activity are such that this situation will not changeunless the parties involved act with commitment. That is why the way we build and how we manage
our portfolio are so crucial.

As a real estate company with integrated development and construction expertise we are well aware of our responsibility. The goals set in our sustainability strategy include cutting carbon emissions and reducing our use of resources. For us, building in a way that is sustainable, like using recyclable construction materials and renewable sources of energy, is essential for long-term success. Last year we again devoted our attention to achieving our ambitious sustainability targets and further refining our strategy.

In the middle of the year we and eleven other large property developers signed up to the Circular Building Charter (Charta kreislaufofrientiertes Bauen). Our stated ambition by 2030 is to cut the use of non-renewable primary raw materials to 50% of total volume, rigorously log and significantly reduce indirect greenhouse gas emissions and improve the recyclability of renovation work and new builds.

Since 2023 we have also been represented on the board of the Sustainable Construction Network Switzerland (Netzwerk Nachhaltiges Bauen Schweiz, NNBS). Once again we are leading the way in developing sustainable solutions and boosting the collaboration between the worlds of business, government, education, politics and academia.

We entered into a close dialogue with our stakeholders last year to bring greater focus to our key sustainability topics. The result is the latest matrix of material topics, which forms the basis for directing our sustainability efforts.

In March 2023 we issued our first green bond, raising CHF 150 million. Issuing a green bond is a logical consequence of implementing our sustainability strategy. We are using the capital generated to finance investments to improve energy efficiency and reduce greenhouse gas emissions in our portfolio.

Ralph-Thomas Honegger

Stephan Widrig