Wing has published its second ESG report, providing information about its environmental, social, and governance efforts, as well as its goals, the measures it has taken and the results it has achieved in 2022. The report has been prepared in accordance with the company’s first comprehensive ESG strategy, which will be finalised soon.
Development of the ESG strategy is underway
Wing’s comprehensive ESG strategy is being developed to set general and specific goals that will drive the sustainability agenda of the Group in the future. A commitment to reducing the carbon footprint of new projects is a key strategic goal. This is in line with expected regulatory requirements and the EU Taxonomy.
The sustainable development of properties is a necessity for any responsible investor today
ESG reporting is now essential in the property development market: recent years have seen an increasing demand from multinational and Hungarian tenants that more emphasis should be placed on ESG considerations in the construction and operation of buildings. The results can best be measured by the practical steps taken. In line with this, since 2017, all of Wing’s new office buildings have been BREEAM and/or LEED certified, and the company has set itself the minimum requirement of achieving BREEAM Good and/or LEED Silver certifications. Wing is also committed to obtaining sustainability certifications for all developments in its industrial portfolio in the medium term. LIVING, the Group’s residential property developer, has sought AA+ energy efficiency ratings on all the residential projects it has developed or announced since 2021 with the aim of further improving energy efficiency. Green surroundings and developing e-mobility infrastructure are key considerations in every Wing project. Wing installs electric car charging stations in all its new properties, and it is adding them to existing properties. It also creates as much green space as it can plant trees even when there is no need to replace a previous ecosystem. In 2022, Wing created a 1,140-square-meter green roof in one development, as well as a total green area of 11,000 square meters in three projects. It also planted 135 trees.
CSR activities with a focus on youth and contemporary art
In addition to environmental and sustainability measures, corporate social responsibility is another priority for Wing. Its CSR programs focus mostly on initiatives that support young people. Following the trend in previous years, the group supported several CSR and charity initiatives in 2022, donating a total of HUF 9 million. Wing has provided funds to the SOS Children’s Villages Foundation for years, and this year was the fourth time it has sponsored the National Scientific Students' Associations Conference (OTDK), the most prestigious scientific students’ forum in Hungary. Besides helping young people, the other pillar of the company’s CSR activities is supporting contemporary art. The leading players in the Hungarian property market came together last year to launch the Building on Art program, with the aim of integrating art into property projects in Hungary. Equality is particularly important for Wing, and the company pays special attention to people with special needs when it comes to designing its buildings: several Wing developments have received gold ACCES4YOU certifications for their accessible features.
ESG aspects integrated into corporate governance
Sustainability has been an essential part of Wing’s corporate governance strategy and operation for almost 15 years now. To integrate business sustainability goals into the corporate strategy, the group places special emphasis on transparency, quantifiability and comparability. The preparation and publication of the annual ESG reports is a part of this process. Last year Wing was among the first companies on the Hungarian property market to disclose an ESG report, and now the Group’s 2022 report is available. In the document, Wing describes its business activities, its environmental and CSR efforts, the measures it has taken to ensure the well-being and development of its employees and its governance structure.
“Environmental and social considerations are increasingly important in the Hungarian property market, and we were among the first companies to set an example by incorporating this mindset into our operations. Over the years we have developed approximately 1.35 million square meters of property in Hungary, and while we have focused on sustainability with all the new projects in our portfolio for over 10 years, we are also striving to modernise our earlier developments. Wing has been known for the sustainable planning, construction and operation of its buildings for years, and the company is taking its efforts even further. In addition to our core activity, our operations are aligned with ESG considerations in other areas as well. The latest report is another opportunity for us to communicate our environmental, business, and social sustainability efforts clearly to current and future partners, customers, tenants and employees,’” said Noah Steinberg, Chairman and CEO of Wing Zrt.
