News

DWS targets 50% CO2 reduction in office portfolio

Reducing CO2DWS is aiming to halve the CO2 emissions in its European office portfolio by 2030.

The asset manager will achieve the target by investing in energy efficiency and by increasing the engagement with tenants on energy saving strategies.

Reduced operating costs of the offices are expected to increase returns for investors, the firm said.

The measure would result in an estimated reduction of 61,000 metric tonnes of carbon dioxide per year. This is the equivalent of taking approximately 24,000 diesel cars off the road or saving around 23 million litres of diesel fuel consumption, according to the German fund manager.

The use of renewable energy is also set to be implemented through onsite installations such as solar panels.

Clemens Schäfer, DWS‘  head of real estate, Europe, said: “Not only will this process help us to enhance the efficiency of office properties, but we expect these targets to impact positively on the return for our investors, by reducing operating costs, and providing more attractive, quality buildings to tenants and investors alike.”

DWS said it planned to implement similar plans to other areas of its real estate investments in the future.

©2019 funds europe