Three real estate sub-funds belonging to the WOOD SICAV* structure have been awarded the Light Green designation under the European SFDR supporting ESG sustainability principles. These are WOOD & Co. Office sub-fund, focused on office buildings, WOOD & Co. Retail sub-fund, which includes the Krakov and Galerie Harfa shopping centres in Prague. The third is the AUP Bratislava sub-fund, whose assets include the AuPark shopping centre in Bratislava. "We are pleased that three of our real estate sub-funds carry the Light Green designation. It is a signal to investors, existing and potential tenants, financial institutions and other stakeholders that we behave responsibly in our role as an investment manager and property manager and want to pursue the path of sustainability," says Kateřina Jarošová, ESG Manager CEE, WOOD & Company.
What is Light Green
The Light Green label can be used by funds that are committed to sustainability aspects and measure, monitor and regularly report on environmental and/or social indicators.
The funds declare that they are meeting the set targets according to the set internal methodology for measuring environmental impacts as well as the plan to reduce them: for example, reducing the carbon footprint, reducing the energy intensity of buildings or limiting water consumption. "We have a long-standing cooperation with the independent platform Green0meter to evaluate and report on sustainability parameters," adds Jarošová.
The sub-funds plan to continue to move towards sustainability according to the EU taxonomy. To achieve this metric, they must meet at least two of the required conditions. The WOOD & Co. sub-funds have set targets in the areas of Mitigation, i.e. climate change mitigation, with elements of Climate Change Adaptation, and in addition not to cause significant harm in other areas, in line with the principle of "not causing significant harm" to others (DNSH). Socially responsible objectives naturally include, among others, respect for fundamental human rights, labour and safety standards and best management practices.