WING now supplies nearly half of its entire real estate portfolio with electricity from domestic, renewable energy sources
2024-07-03
As a further step in its sustainability efforts, WING has successfully completed its green power purchase, which means that this year, 47% of its entire real estate portfolio's electricity needs will be provided by renewable energy sources generated in Hungary. The milestone covers the entire industrial portfolio - Airport City Business Park, East Gate Business Park, East Gate PRO Business Park and Login Business Park -, as well as the newly completed developments, Liget Center and Liberty office and hotel, which are 100% powered by green electricity this year.
As globally, there is a growing focus among companies in Hungary as well on the reduction of their ecological footprint, the mitigation of harmful emissions, and the provision of „green” operations, i.e. from renewable electricity production.
In line with global trends, the consumption of electricity instead of natural gas has steadily increased in recent years for the properties managed by WING. The Group is seeing a rising number of tenants, particularly international ones, addressing ESG and sustainability issues at a strategic level, which is creating new green expectations for property owners and operators.
One of these is the need to use green electricity: in the case of green electricity, energy is produced using renewable energy sources, such as wind farms, solar panels and small domestic hydroelectric power plants - thus protecting the environment.
Sustainability is an important aspect for WING: the company has been one of the first to set a good example in the domestic real estate market with its environmentally conscious operations, BREEAM and LEED certified developments. A key pillar of the ESG strategy is the increasing supply and procurement of electricity from renewable sources. Thus, while the use of green electricity may involve a minimal additional cost, it contributes in the long term to reducing the carbon footprint of operations, achieving sustainability goals and meeting higher-level green-oriented tenant demands, which will become basic expectations in the future.
