DIC’s ESG Roadmap
We manage our business proactively in line with sustainability aspects by our experienced management. In our ESG roadmap – which we keep expanding – we focus both on near-term and medium-term goals to implement our ESG strategy.
Targets and KPIs
| Target | KPI | Status | Year-on-year change |
|---|---|---|---|
| Establish a science-based climate pathway for our German business by 2023 or earlier | Climate pathway | Climate pathway at portfolio level being implemented ¹ | Specific ESG action plan created for all properties |
| Reduce greenhouse gas emissions per square metre in the Commercial Portfolio by 2030 by at least 40 % compared to the 2018 base year. | Δ t CO₂e/sqm Commercial Portfolio in % | -26 % | -4 % |
| Further expand the supply/purchase of renewable energy | Percentage of renewable energy in the communal-area electricity supply for the Company’s office premises owned by DIC Asset AG itself, and for the tenant electricity in the Company’s rented office spaces | 100 % renewable energy for the Company’s office premises owned by DIC Asset AG itself; 83 % for the tenant electricity in the Company’s rented office spaces. | ±0 % renewable energy for the Company’s office premises owned by DIC Asset AG itself; +10 % for the tenant electricity in the Company’s office spaces |
| Number of buildings supplied with district heating or green gas (Commercial Portfolio) | 147 of 195 properties (percentage of rental space in sqm: 70.6 %) | 44 of 94 properties (percentage of rental space in sqm: 45.4 %) | |
| Number of buildings supplied with green electricity (Commercial Portfolio) | 66 of 103 multi tenant properties (64 %) | 57 of 71 multi tenant properties (80 %) | |
| Increase the share of Green Buildings in the Commercial Portfolio to at least 20 % by the end of 2023 (Commercial Portfolio) | Market value of Green Buildings and its ratio to the Commercial Portfolio market value | 31 %, target achieved ahead of schedule | +19.4 percentage points |
| Targets (DIC incl. VIB) | KPI | Status | Year-on-year change |
|---|---|---|---|
| Maintain current level of male/female quotas at senior management level below Management Board | Number of employees by gender category (m/f/d) below Management Board level² | 53 % women 47 % men |
+1 % women -1 % men |
| Maintain current age structure | Number of employees by age category | 13 % ≤ 30 years 62 % 31-50 years 25 % ≥51 years |
-2 % ≤ 30 years -2.7 % 31-50 years +2.3 % ≥51 years |
| Targets (DIC excl. VIB) | KPI | Status | Year-on-year change |
|---|---|---|---|
| Increase the proportion of women at executive level 1 (extended executive level including regional managers) by 30 June 2027 to 28.125 % (9/32) | Overall proportion of women at executive level 1 (extended executive level including regional managers) | 31 %, target achieved ahead of schedule | +26 % |
| Maintain or increase current proportion of women at executive level | Overall proportion of women at executive level (including branch managers) | 31 % | +5 % |
| Maintain or increase current proportion of women employees | Overall proportion of women employees | 53 % | +1 % |
| Increase the proportion of women on the Management Board by 30 June 2027 to 25 % (1/4) | Overall proportion of women on the Management Board | 25 %, target achieved ahead of schedule | +/-0 % |
| Increase the proportion of women on the Supervisory Board by 30 June 2027 to 16.66 % (1/6) | Overall proportion of women on the Supervisory Board | 16.66 %, target achieved ahead of schedule | +16.66 % |
| Target | KPI | Status | Year-on-year change |
|---|---|---|---|
| Continuous increase in FFO | FFO (after minority interests) compared to previous year | EUR 114.2 million | +7 % |
| Increasing the share of green financial instruments to around 40-50 % by 2027 | Overall share of green instruments on the financing side as a proportion of total assets | 15 %³ | -5 % (higher total assets due to VIB acquisition) |
| Maintain or improve performance in relevant ESG ratings | ESG rating results | Sustainalytics: Improvement to 6.9 S&P CSA: Improvement to 38 Carbon Disclosure Project (CDP – Climate Change): C MSCI – ESG Research: Improvement to AA ISS ESG: D+ | Sustainalytics: 9.2 Sustainalytics: 9.2 S&P CSA: 26 Carbon Disclosure Project (CDP – Climate Change): C MSCI – ESG Research: A ISS ESG: D+ |
| Continue to prevent misconduct by taking appropriate preventive action | Number of reported compliance violations as well as actions taken | Zero reported compliance violations; Zero actions taken | Zero reported compliance violations; Zero actions taken |
| Number of training hours: employees incl. Management Board members | 1.996 hours | +126 % |
¹ Climate pathway for VIB properties to be implemented by mid-2024.
² At present, DIC Asset AG is unable to +16.66% provide information on the “diverse” gender identity.
³ Absolute share increased from EUR 680 million to EUR 772 million.
Selected Milestones
of the Commercial Portfolio by market value are Green Buildings
Green building certifications according to
DGNB
BREEAM
LEED
ESG Ratings
DIC Asset AG counts among the sustainability leaders in the international real estate industry
- Sustainalytics: improved from 9.2 to 6.8 (25 April 2023)
- Sustainalytics: Awarded Industry Top Rated and Region Top Rated (in the period from 1 January till 31 December 2023)
- Carbon Disclosure Project (CDP – Climate Change): constant at D (31 December 2022)
- MSCI – ESG Research: improved from A to AA (31 December 2022)
- ISS ESG: constant at D (31 December 2022)
- S&P CSA-Rating: improved from 26 to 38 (February 2023)
- EPRA sBPR: Gold award for ESG-Reporting 2021
Engagement
24 November 2022 – Painting project at Praunheimer Werkstätten, Frankfurt
20 DIC employees from different departments and locations painted the walls of the work and living rooms at the Praunheimer Werkstätten facilities.
22 April 2022 – Ukraine aid
The team of DIC volunteers completely furnished two empty flats for two refugee families from Ukraine, so that they could move into their new homes shortly afterwards.
9 November 2021 – Ahrtal aid
DIC employees supported people in need following the flood disaster and helped to gut a former hotel that had been badly affected by the floods.
Social Impact Day
Green Finance
Taking New Approaches
ESG-Linked Promissory Note
With the issuance of an ESG-linked promissory note, we are once again engaging in a pioneering effort within our industry.
By linking the interest rates to reliably measurable sustainability metrics , we define concrete guidelines for our investment and refurbishment activities. Our objective is to raise our green building ratio in our own portfolio (Commercial Portfolio) to at least 20% by the end of 2023.
Clearing this mark will bring down the interest rate for subsequent interest rate periods by 5 basis points.
A positive contribution to climate change mitigation will simultaneously lower our finance expense – clearly a win-win arrangement.
Interest rate effects of the green building ratio
