Company in transition

In terms of sustainability, Adler Group has improved its business activities further in 2023. Employee satisfaction increased again, significant efforts were made to review and improve corporate governance and the concerns of tenants continued to be among the top priorities. Energy efficiency, measured in terms of specific energy consumption per square meter of residential floor space, improved likewise leading to a corresponding decline in specific GHG emissions. This is a positive development with regard to the efforts to mitigate climate change.

However, when it came to investing in improving energy efficiency, Adler Group’s sustainability management was not able to meet the self-imposed target formulated in 2021. After all, 2023 was a year of transition for Adler Group in many respects. Financial parameters changed, the property portfolio was significantly reduced and development projects were realigned – all of which had an impact on measures that were intended to improve energy efficiency and thus also reduce CO2 emissions. Some were discontinued because the corresponding properties were sold, in other cases the originally planned projects were put on hold as long as it was unclear whether they would remain in the portfolio. Other measures were temporarily postponed because overriding objectives such as securing liquidity took priority in the short term. The intention to halve CO2 emissions will be revisited and reassessed as soon as it is clear how the future portfolio will be composed.