Genesis Property, one of Romania’s leading office building owners, announces another key step in transitioning to fully renewable energy for all buildings in its portfolio, both the office buildings in the West Gate Business District and YUNITY Park business parks and the West Gate Studios residential buildings within the campus that hosts more than 1,000 students each year. Thus, Genesis Property is reaffirming its commitment to sustainability and significant environmental improvement, with carbon emissions across the entire building portfolio to be reduced by a minimum of 3,500 tonnes of CO₂ annually, while also supporting tenants to achieve their own sustainability goals, following the signing of a contract with a new energy supplier, which has committed to deliver only certified green energy.
The electricity that powers the buildings owned by Genesis Property, the company founded by Liviu Tudor is also provided by the own production generated by the 1,080 photovoltaic panels installed on the roofs of all the buildings in YUNITY Park, responsible for generating a quantity of approximately 680 MWh annually.
“Energy consumption accounts for almost 75% of global greenhouse gas emissions and buildings are responsible for a significant share of these”, says Ioan Bejan, ESG Director, Genesis Property. “Therefore, achieving Genesis Property’s important goals of decarbonisation by 2040 and transforming the company’s entire building portfolio to zero carbon buildings (ZEB) by 2030 requires, among other things, increased attention to the transition to clean energy. Thus, the use of only renewable energy for our buildings is a key step in this direction. At the same time, with this measure, we are also giving our tenants the support they need to meet their own environmental commitments.”
Genesis Property committed to achieving its goal of zero net carbon emissions 10 years early
All Genesis Property buildings have been BREEAM Very Good certified since 2013, and initiatives such as the European Green Deal, aiming for climate neutrality by 2050, prompted the company to begin a broad sustainability investment process as early as 2020 and aim to achieve net zero carbon emissions 10 years earlier, by 2040. In 2021, Genesis Property became the first real estate company in Romania to join the UN Global Compact global community. Since 2023, it is the first 100% Romanian-owned real estate company to have its near-term carbon reduction target validated by the prestigious global organization Science Based Targets (SBTi).
Going forward, Genesis Property aims to achieve nZEB, BREEAM Outstanding and IMMUNE™ Resilient certification for all buildings in its portfolio by 2026 and ZEB certification for the entire portfolio of buildings by 2030. Furthermore, starting this year, the company began reporting its ESG performance to GRESB (Global Real Estate Sustainability Benchmark), a rigorous global assessment of real estate investments aligned with the most current international sustainability reporting frameworks, and released its first greenhouse gas emissions report, following the methodology provided by the GHG Protocol.
About Genesis Property
Genesis Property, with over 20 years of experience in the Romanian real estate industry, is one of the leading owners, developers, and operators of Class A office buildings. It owns and manages YUNITY Park and West Gate Business District with over 150,000 sqm GLA of office space occupied by companies such as HP, Accenture, Ericsson, Garanti BBVA, Infineon, Luxoft, Yokogawa, Siemens and Alpha Bank, where over 15,000 employees work. Genesis Property also initiated the IMMUNE Building Standard™, a global standard that certifies the resilience of buildings to health threats such as the Covid-19 pandemic. Genesis Property is the developer of Romania’s first private student campus, West Gate Studios. For more information, visit GenesisProperty.net / YunityPark.com