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VGP NV: Commits to be Carbon Neutral by 2025

VGP NV (‘VGP’ or ‘the Group’), a European provider of high-quality logistics and semi-industrial real estate, is committed to further implementing comprehensive and sustainable measures along its sustainability strategy in the next years to achieve carbon neutrality by 2025. To this end the company has now set itself new and ambitious targets.

VGP has conducted a comprehensive carbon footprint analysis to better asses the climate impact of its operations. Based on this analysis, VGP has derived several targets that will allow the company to achieve carbon neutrality by 2025. In addition, VGP commits to reduce Scope 1 and 2 GHG emissions by 50 percent by 2030 from the base year 2018. More details on VGP’s approach to Scope 1-3 emissions and targets can be found in the Corporate Responsibility Report which has been published today.

Founded as family business and at the interface of construction, logistics, industry, and transport, VGP wants to make an impactful contribution to a more sustainable economy and a more mindful use of natural resources. The publication of its second Corporate Responsibility Report shows comprehensively how VGP’s sustainability strategy has developed over the past years and what its future focus will be to reach the goal of carbon neutrality.

Jan Van Geet, CEO of VGP, stated: “Our commitment to become carbon neutral by 2025 is a very personal concern for me. I want to realize the necessary changes that are in our hands now to best preserve existing resources for future generations. I am also convinced that all our actions towards a more sustainable future will have a positive impact and strengthen our ties with all our stakeholders such as tenants, municipalities, investors, business partners, and employees.”

VGP’s Corporate Responsibility Report 2020 underscores the company’s progress and commitment to strengthening sustainability efforts across its day-to-day business amid the COVID-19 pandemic. The protection of the health and wellbeing of VGP’s employees has been a top priority in 2020 while ensuring a minimum impact on the construction progress of the VGP parks at the same time.

Another important step on the way to carbon neutrality has been the accelerated BREEAM (Building Research Establishment Environmental Assessment Method) certification efforts with 35% of the portfolio now certified, as well as the considerable expansion of the green power generation capacity of VGP Renewable Energy’s business to 42.5 MWp, with another 53.3 MWp in the pipeline. The VGP Foundation, founded in 2019, received a contribution of €3 million from VGP in 2020 and identified 16 initial projects for which over € 1 million has been spent. Furthermore, VGP has committed to provision an additional €4 million contribution for 2021.

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