In 2023, Varia US Properties showed its continued commitment to integrating ESG into its operations and business practices, thus creating value for all stakeholders of the Company. In the Annual ESG Report 2023 published today, Varia US discloses its accomplishements compared to previously communicated goals, and set the bar for the years to come. It describes in detail its current and future initiatives in the three dimensions of Environement, Social and Governance, and explains the business rational of this strategy.
Several sustainability-related milestones were achieved:
- For the first time, Varia US compiled a comprehensive “Carbon Footprint Analysis” which includes all material categories of scope 3 emissions. Varia US also set 2023 as its base year (meaning future progress toward decarbonization will be measured relative to 2023), established Science Based Targets for decarbonization, and committed to achieving Net Zero by 2050.
- Additionally, Stoneweg US, on behalf of Varia US, established a portfolio Emissions Reduction Plan (ERP), demonstrating its proactive and professional approach to understanding, managing and mitigating climate-related transition risk.
- Varia US’s 2023 GRESB benchmark score and rank improved significantly year over year with 83 points and 4 stars, reflecting the company’s dedication to continuous improvement.
- Stoneweg US also achieved a remarkable milestone in data collection, with comprehensive building environmental performance data for electricity, gas, and water consumption as well as waste production now accessible for the vast majority of Varia US’s portfolio.
- Varia US continued to receive additional sustainable building certifications, most notably 4 Green Globes and 21 ENERGY STAR Performance Certifications.
- In 2023, great importance was attached to the tenant and employee engagement in the residential complexes, which resulted in further improved resident satisfaction scores. This engagement is closely linked to Varia US’ purpose to offer attainable housing solutions for the renting American workforce.