Globalworth’s climate target validated by the Science Based Target initiative

Deniza Cristian 04/04/2023 | 12:28

Globalworth, the leading office investor in Central and Eastern Europe (CEE) and the leader of the Romanian office market, scientifically validated its climate target by the Science Based Target initiative (SBTi) to be in line with the Paris Agreement on cutting carbon emissions and limiting global warming.


At Globalworth, we believe that it is our duty to responsibly manage the Environmental (‘E’), Social (‘S’), and Governance (‘G’) impacts on how we do business. This duty requires the Group to have a clear understanding of the ESG issues relevant to its business, which it must balance and manage effectively to create long-term sustainable value for its shareholders and other stakeholders.

In 2022, as part of its sustainable development strategy, the Group performed a detailed review of how it can improve its future carbon footprint.

Globalworth analyzed its performance over 3 years and set its environmental target of reducing its GHG emissions intensity by +40% by 2030 compared to its baseline 2019 levels (for Scope 1 and 2), and it committed to measuring and reducing Scope 3 too. These targets were approved and validated by the internationally recognized Science Based Target initiative (SBTi).

The SBTi is an international partnership between the CDP, the United Nations Global Compact, World Resources Institute and the Worldwide Fund for Nature, aiming at helping companies set science-based targets for reducing greenhouse gas emissions in line with the goals of the Paris Agreement to limit global warming to well below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.

At Globalworth, since the inception of the Group, we have been focusing on providing our business partners with high-quality spaces that are sustainable, technologically advanced, and custom fitted to their needs while at the same time ensuring that these spaces have a positive influence on the communities that we live and operate in. With c.90% of our standing commercial properties environmentally certified and c.98% of the energy used in our portfolio from renewable sources at the end of 2022, we consider our 2030 and SBTi-validated GHC emissions reduction target as the next step in our sustainable development strategy, stated Stamatis Sapkas, CFO of Globalworth Group.

In the last 2 years, Globalworth further developed its sustainability strategy in line with its commitment to promoting responsible and sustainable business practices.

  • 45 of the properties in its portfolio are certified or recertified with BREEAM Very Good or higher certifications.
  • securing 100% of the energy used in its Polish properties and in its Romanian office portfolio from renewable sources.
  • WELL Health-Safety Rating in all the office buildings in Romania and Poland, to further demonstrate that the company’s assets provide safe and healthy places for corporates to operate and for people to visit and work in.
  • European certification mark “access4you“ for 10 of the office buildings in Bucharest. These are the first buildings to obtain such a certification in Romania.

Globalworth will continue to publicly disclose its sustainability strategy and actions in its annual Sustainable Development Reports.

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