– VGP has published its annual report including a Corporate Responsibility Report focusing on sustainable development and renewable energy.
– The Group’s ESG performance has been recognised by Euronext by including VGP among the 20 Belgian companies that excel in ESG efforts.
– As part of its ESG goals, VGP has significantly accelerated the deployment of photovoltaics and is now in the process of installing 204.3 MWp of capacity, which will generate more electricity per year than its clients consume.
– VGP has set ambitious targets for its future development and sustainability strategy.
VGP NV a European owner, manager and developer of prime logistics and semi-industrial real estate, has published its annual report including its Corporate Responsibility Report. The report focuses on the Company’s ongoing achievements and objectives with respect to ESG performance.
The past year has been marked by significant progress towards a sustainable future for VGP. Of the 204.3 MWp of rooftop solar panels in the pipeline, 57 MWp are in operation and another 75 MWp are being installed, which will help avoid the release of approximately 35,000 tonnes of CO₂ eq. per year. In terms of greenhouse gases, VGP’s portfolio (including the upcoming PV projects) is now compatible with the Paris Agreement’s 1.5 °C non-transgression plan by 2040. The company’s targets for categories 1, 2 and 3 have also been confirmed by the Science Based Targets (SBT) initiative and the Group has received external confirmation of its published direct carbon emissions information.
In addition to sustainable energy, VGP is also developing transport accessibility and sustainable mobility, with a new target for all VGP fleets to have electric vehicle charging stations and public transport accessibility. The company has switched to 100% certified green energy for all of its offices, implemented steps to reduce construction-related emissions and improved the environmental performance of its existing building portfolio as part of its retrofit program.
VGP cares about communities and about philanthropy and has contributed €3 million and 650 hours of community support to local charities. In 2022, VGP also introduced various methods of biodiversity conservation and expanded the areas designated as habitats in its parks.
The company has improved construction standards to take advantage of water retention and conservation techniques, and several halls will capture a total of 105,000 m3 of rainwater. VGP has also focused on reducing carbon emissions and ethics in its supply chain, for which it has introduced a human rights supplier code.
Jan Van Geet, VGP Group CEO, comments, “We are proud to announce the collective achievements of our ESG strategy, the commitment of our team to ESG initiatives and the positive impact we are having on society and the environment. Our focus on sustainability permeates every part of our operations and I am delighted with how far we have come. And we’re not done yet. We are determined to continue our efforts and take on projects with even greater impact. With our eyes fixed forward, we are exploring ways to create a more sustainable world. Together, we are not only building cutting-edge logistics and semi-industrial properties. We are building a legacy of responsible business and a brighter tomorrow.”
The company plans to focus on a wide range of indirect carbon emissions from development activities, energy consumption by tenants and from transport and offices used by employees.
In addition to tackling climate change, VGP’s ESG strategy addresses environmental and social issues such as circular economy and environmentally friendly transport, basic social responsibility regarding diversity and inclusion, and employee wellbeing. The company has an effective ESG governance structure that covers all countries and incorporates ESG-related risks into its risk management system.
VGP’s ESG strategy is based on five main pillars and focuses on the challenges and opportunities associated with its operations. The Company used two additional approaches, materiality analysis and risk analysis, to identify and prioritise ESG issues relevant to the Group from both internal and external stakeholder perspectives. The ESG strategy is based on the findings of both the materiality analysis and the ESG risk analysis. It identifies the biggest challenges for the semi-industrial and logistics properties, such as the shift towards a low-carbon economy and sustainable mobility, integrating the Group’s business activities into local communities and strengthening teams in terms of sustainability and diversity.
VGP operates in seventeen European countries. The family-owned company, headquartered in Antwerp, Belgium, operates a total of 108 parks in Europe.
In addition to cutting-edge technology, sustainability and energy self-sufficiency are key criteria for VGP’s commercial properties. The company is committed to becoming carbon neutral by 2025, and is involved in BREEM/DGNB certification and green energy production. As a result, 61.2% of the portfolio has already received certification and the green energy generation capacity of VGP’s Renewable Energy division has increased to 131.6 MWp. A further 72.7 MWp is in the pipeline. The VGP Foundation, established in 2019, has already selected 36 projects that address social issues, nature conservation and cultural assets, and has received €6.6 million in funding from VGP to date.
