Munich, 15 March 2022 – The development of sustainable and ESG-compliant projects is an important core value in the corporate philosophy of ZAR Real Estate Holding. Now the Munich-based real estate developer has joined the ECORE network.
ZAR Real Estate committed itself to resource-conserving, ecologically sustainable and energy-efficient project development some time ago. “It is essential to define and implement sustainability criteria at all levels of project development, as well as to measure their compliance and make them transparent. That is why we are happy to join the initiative,” says Martin Hofmann, CDO and Managing Director of ZAR Real Estate Holding. Daniel Argyrakis, CFO and also Managing Director of ZAR Real Estate adds: “We are aware of our responsibility to develop sustainable solutions as part of the real estate industry in order to preserve not only the future viability of the industry but also our environment.”
The ESG Circle of Real Estate, or ECORE, was founded in February 2020. Over 115 member companies from the fund and asset management sector have made it their task to develop a uniform industry standard for measuring the sustainability performance of real estate portfolios. ECORE also sees itself as a dialogue and best practice platform for open and trusting exchange among its members.
With the ECORE scoring, a standard was created that combines all regulations, laws, ordinances and ESG criteria. The scoring is dynamic and is continuously adapted to the latest EU requirements. ECORE offers funds, investors, portfolio holders and project developers the opportunity to record the ESG status of their properties across all asset classes and to compare them at individually selected levels. The score is mapped using a point scale from zero to 100.