On 26 February 2002, the German Corporate Governance Code (GCGC) was delivered to the Federal Minister of Justice. The Code, which was developed by a governmental commission under the leadership of ThyssenKrupp AG Supervisory Board Chair Dr Gerhard Cromme, applies to all publicly-listed companies in Germany. According to the new version of § 161 AktG, following revisions required by the Transparency and Publicity Law of 19/07/2002, the executive committees and supervisory boards of these companies are required to declare annually that they have complied with and will continue to comply with the rules of conduct contained in the Code, or to explain which codes of behaviour do or did not apply, and why. The objective of the German Corporate Governance Code is "to make the rules for corporate management and monitoring in Germany transparent for national as well as international investors, in order to strengthen trust in the corporate management of German companies" (Governmental Commission on the German Corporate Governance Code).
Further information, as well as the complete German Corporate Governance Code in its current version, is available at the Internet site of the Governmental Commission on the German Corporate Governance Code.
TAG is a member of the ICG, the INSTITUTE FOR CORPORATE GOVERNANCE in the German Real Estate Industry.
Since 2002, the ICG is committed to value-oriented, sustainable corporate management in the real estate industry. Its members share the belief that economic virtue and values, compliance with the law and personal integrity as well as economic, legal and social responsibility together form the basis of corporate success and a good reputation for the industry.
"Good governance" is based on transparency and professionalism through auditing and certification processes. The Institute has also integrated the importance of sustainability and supporting its members in the development of processes and the implementation of instruments to effectively incorporate sustainability at all levels of the company.
Further information as well as the complete Corporate Governance Code of the German Real Estate Industry of the ICG in its current version are available on the website Institute for Corporate Gonvernance in the German Real Estate Industry.
The recommendations of the Corporate Governance Code of the German real estate industry have been and are complied with.