The Greenman Group have the responsibility to commit significant time, thought and resources to enthusiastically fighting climate change and helping to improve the conditions, where possible, for all the occupants of our planet.
Our group companies are part of a network of businesses that are in part responsible for the financing, infrastructural planning, manufacturing, storage, delivery and sale of certain essential goods and services to the public. As custodians of significant amounts of investor capital, our obligation is to ensure it is allocated to this network to increase the depth and speed of implementation of new solutions, systems, and approaches to fight climate change.
In 2022, Greenman Investments put in place a NET Zero plan which when complete will reduce the NET carbon emissions of the fund they manage, Greenman OPEN, to zero (the Net Zero Pathway), aligning it with the EU Taxonomy.
Greenman’s sustainability report outlines the progress made in initiating the Net Zero Pathway.
Greenman aim to align OPEN’s portfolio with the EU’s climate goals under the European Green Deal to make Europe the first climate neutral continent. OPEN’s portfolio of properties emits c. 116,400 tonnes of carbon emissions annually. Our ambition is to reduce this to zero on a net basis by 2050.
OPEN’s portfolio consists of 77 properties with a retail area of c. 250,000sqm and a combined gross market visited by c. 280,000 German consumers daily.
Roughly 18% of the German population live within a 15-minute drive of a property owned by OPEN therefore actions taken by us at OPEN’s properties can have a positive impact on a considerable number of people.
Operational activities are often of equal importance to sensible capital allocation. Therefore, the Greenman Group, will create a number of separate businesses providing strategic direction, expert know-how and management capacity to safeguard OPEN’s equity and will enter into joint ventures with OPEN, GES and others to focus on achieving profit, in line with their 5by25 strategy, while delivering OPEN’s sustainability goals.
Demonstrating that the interests of the Greenman Group are aligned with those of OPEN, GES and their investors, it shall commit a min. of 25% of the equity requirement to each Fund JV pari-passu to any equity committed by OPEN (the 75/25 Principle).