TAG Immobilien AG publishes Sustainability Report 2019: Exploiting potential - Balancing economic, ecological and social interests

DGAP-News: TAG Immobilien AG / Key word(s): Real Estate/Sustainability
23.04.2020 / 07:00
The issuer is solely responsible for the content of this announcement.



TAG Immobilien AG publishes Sustainability Report 2019: Exploiting potential - Balancing economic, ecological and social interests

- Inexpensive housing and high-quality service remain the basis of TAG's business model geared to long-term success

- Affordable yet climate-friendly living as a major societal challenge - residential portfolio will continue to be developed with a sense of proportion

- Social sustainability is essential, not just in times of the coronavirus crisis

- Dedicated, qualified employees form the basis for achieving all sustainability goals

Hamburg, 23 April 2020

TAG Immobilien AG (TAG) today published its eighth Sustainability Report, which was prepared for the third time in accordance with the guidelines of the Global Reporting Initiative (GRI). The report systematically documents strategies, targets and activities in the fields of economic, ecology and social sustainability. This supplements and complements the financial reporting in the Annual Report published on February 27, 2020 by adding significant non-financial aspects of the 2019 financial year.

Claudia Hoyer, COO of TAG, comments on the Sustainability Report: "Long before sustainability was declared a megatrend, it was on TAG's daily agenda. As a large housing company, we bear responsibility for society and want to live up to this responsibility. This is only possible through sustainable action. For this reason, an integrative, holistic understanding of sustainability forms the basis of our business decisions. Our aim is to reconcile the triad of economic, ecological, and social interests."

Our path to tomorrow - TAG's sustainability strategy

At TAG, we define sustainable corporate development as an integrated system that facilitates positive synergies. Our sustainability strategy takes account of current developments such as demographic change, the effects of climate change, and technological progress. We also consider all the economic, ecological, and social effects of our actions along our value chains.

Happy tenants are central to our economic success and our future viability. Accordingly, customer orientation and service quality are key topics in our Sustainability Report 2019 as well. Our goal is to create affordable living space for broad sections of the population. That is why we rigorously tailor our offerings to the needs of our customers.

Developing our portfolio responsibility - Climate protection as a societal challenge

One of the greatest challenges currently facing our society is affordable yet climate-friendly living. To achieve this, we will continue to develop our inventories circumspectly and with a sense of proportion. We believe that housing should be affordable for every one of our tenants. Efficient modernisation measures ensure that we make an effective contribution to climate protection on the one hand, while not exceeding the budgets of our tenants on the other.

By improving energy efficiency and reducing emissions, we help protect the environment. Our measures focus on areas of the building shell that we can influence, and on the generation of heating energy. We aim to achieve the best possible cost-benefit ratio, because ecological measures have economic consequences for our tenants.

The sustainable use of resources has beneficial effects on the environment and, at the same time, generates economic benefits for TAG and our tenants. For this reason, a conscious approach to the use of resources is firmly anchored in our company across the entire value chain.

Our social responsibility - Social sustainability in times of the coronavirus crisis

Housing is a basic human need. As a large housing company, we are aware of our corporate responsibility. We know that our actions have an impact on society, the environment, and the economy.

The provision of affordable housing has always been our core business. In this respect, sustainability is traditionally anchored in our business activities. The present coronavirus crisis is a particular challenge for all of us, and we as a housing company have a responsibility in this respect. This applies especially to our tenants, to whom we strive to offer a secure home and good service in this difficult situation. Community involvement, which we have been practising for years in many of our residential areas, is more important than ever in these times.

For several weeks now, we have voluntarily refrained from increasing rents by adjusting them to the comparable rent customary in the area, from terminations due to loss of income as a result of the coronavirus crisis and from corresponding evictions from occupied apartments. Our receivables management teams have always seen themselves as debt advisors and strive to help rent defaulters so that they can continue to live in their apartment. They offer instalment payments and deferral agreements during this period as before, and help with applications for state subsidies.

Empowering our employees - Ready for the future with a motivated and qualified team

Without our employees' efforts and commitment, it would not be possible to achieve our sustainability goals. Especially in times of the coronavirus crisis, our employees are accomplishing great things and dedicate themselves to our customers every day.

That is why we feel it is so important to be an attractive employer. At the heart of this is company culture of appreciation with regular feedback, the opportunity for dialogue, and flat hierarchies. It is important to us to reflect the social diversity among our employees, because this benefits our customers as well.

Other changes in the Sustainability Report 2019

This year for the first time, the Sustainability Report contains a detailed table of key indicators for the various areas of sustainability. In addition, various adjustments have been made to focus on action areas, and the material issues were reweighted. Since responsible corporate governance forms the framework for sustainable corporate development, the important topic of compliance/governance has become even more central. The overarching themes of stakeholder dialogue and supply chain have also been re-prioritised.

Please refer to the 2019 Sustainability Report, available at https://www.tag-ag.com/en/sustainability/sustainability-reports/ for further details.


Press enquiries:
TAG Immobilien AG
Dominique Mann
Head of Investor & Public Relations
Phone +49 (0) 40 380 32 300, Fax +49 (0) 40 380 32 388

23.04.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Company:TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Phone:040 380 32 0
Fax:040 380 32 388
Listed:Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange
EQS News ID:1027659

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