Cromwell started measuring its sustainability performance in 2006 and began reporting against the Global Reporting Initiative (GRI) guidelines in 2009, producing our first Annual Report in that year.
We believe that achieving our key business objective to provide investors in Cromwell Property Group with stable, increasing distributions per share, requires active measurement, management and disclosure of our exposure to all material economic, social, governance, environmental and other risks.
A good example of our commitment to environmental sustainability in Germany is when we restructured our electricity and gas supply contracts and switched to Green Energy wherever possible. The process started 2013 and has been managed to 2016 operating our assets and the offices we are working in on a 100% carbon neutral basis in respect of energy supply. This resulted in a €1 million reduction of energy costs over a period of 3 years and achieved an excellent result, not only for its positive environmental impact but also through the lower operating costs that our tenants could then benefit from.
For more details, visit the Sustainability site on our group website here.