VGP continues to successfully meet its environmental, social and governance (ESG) targets

VGP, the European owner, manager and developer of semi-industrial and logistics properties, has published its annual report, including its Corporate Social Responsibility Report 2023, which focuses on the Group's continued success in sustainable development in line with the Paris Agreement, which sets out an action plan to reduce global warming. VGP's GHG reduction targets have been confirmed internationally by the SBTi initiative. The Group achieved significant savings of 2,054 tonnes ofCO2 emissions last year.

Jan Van Geet, CEO of VGP, comments, " The past months have been another significant step towards a sustainable future. Between 2020 and 2023, we have achieved a cumulative reduction in our carbon footprint from our own operations of 34% per employee and, in terms of our operating portfolio, a 23% reduction in energy intensity per square metre of leased space."

The Group has integrated ESG targets into its full supply chain, taking into account a wide range of indirect carbon emissions not only from development activity but also from tenants' energy consumption or their employees' transport to work. VGP continuously improves the environmental performance of existing buildings while building new sustainable properties that are domestically delivered to at least BREEAM Very Good green certification. Accordingly, it promotes biodiversity and improves the natural ecosystems around its projects. Last year, for example, it planted 4,040 new trees and the total area of habitats created under its stewardship reached 548,000m2.

The company has switched to 100% certified green energy for all its offices, while significantly accelerating the introduction of photovoltaics at its industrial and logistics parks. PV capacity grew 79.9% year-on-year last year, and operational capacity crossed the 100 MWp mark at 101.8 MWp (up from 56.6 MWp in December 2022). There are 69.0 MWp of PV projects under development and another 99.7 MWp planned. The ongoing transition to green energy consumption in VGP buildings, as well as other green measures, contributed to GRESB's four-star developer rating, the second highest rating among comparable companies operating in the European logistics segment. At its total planned solar power generation capacity, VGP will generate more electricity annually than the consumption of all its tenants combined.

In addition to sustainable energy, the Group is also committed to good transport accessibility (96.4% of all its parks are accessible by public transport) while developing sustainable mobility. So far, 545 charging stations for electric vehicles have been installed at VGP sites and all new parks are already being built with this in mind.
In terms of social progress, the Group has achieved an increase in gender diversity, with the proportion of women in the Group increasing by 20 basis points. A new VGP Academy has also been established to provide a platform for employees to share the knowledge and skills needed to drive innovation and sustainability within the company. This has an effective ESG governance structure that covers all countries and incorporates ESG-related risks into the risk management system.

In addition, VGP takes an active interest in philanthropy. Last year, the company's employees contributed 1,440 hours of volunteer work, and the VGP Foundation, whose mission is to assist conservation and support local communities, approved five additional projects, bringing its total number of charitable projects to 41.

VGP operates in seventeen European countries. The family-owned company, headquartered in Antwerp, Belgium, operates a total of 110 parks in Europe. In addition to cutting-edge technology, sustainability and energy self-sufficiency are the main criteria of its properties. The company is committed to becoming carbon neutral by 2025 and is involved in BREEAM/DGNB certification as well as green energy production.

VGP's full 2023 Corporate Social Responsibility Report is available to download on the Link below.

https://www.vgpparks.eu/media/5461/vgp-crr23-en.pdf?ver=1810