A pioneer in climate protection: Vienna office building Square One verified according to EU taxonomy

• STRABAG Real Estate (SRE) confirms pioneering role in the development of sustainable real estate
• ÖGNI/DGNB crowns Square One office building with EU taxonomy verification for existing properties
• Square One among few office buildings to exceed the EU taxonomy requirements
• Taxonomy verification gains relevance for creditworthiness and underlines ambitions to achieve climate targets

Vienna, 15 December 2021--- The Austrian Sustainable Building Council (ÖGNI) has verified the Vienna office building Square One, a development of STRABAG Real Estate (SRE), as EU taxonomy-compliant. It is the crowning achievement for the property, which was completed in 2017 and has already been certified with ÖGNI/DGNB Platinum, and proof of an ambitious sustainability strategy. The EU Taxonomy for Sustainable Activities, which has been in force since July 2020, aims to define environmentally sustainable activities as a means of promoting sustainable investments.

“Even before the presentation of the European Commission’s criteria for financing sustainable growth, STRABAG Real Estate had already established extremely high sustainability standards in its project development business. The confirmation of conformity with the EU taxonomy is a further milestone in our endeavours,” says Christian Kerth, Group Lead for Commercial Real Estate at SRE and initiator of the audit process. This makes SRE one of the first five companies in Austria to undergo ÖGNI taxonomy verification. Other examples of SRE’s status as an “early mover” in environmental labelling include Wirescore, GreenPass and the ÖGNI/DGNB multiple certificate for office properties.
Certified “climate-fit” office building
The fact that the verification of the building developed by SRE occurs four years after completion is due to the nature of the procedure, which requires that existing buildings must meet or exceed the sustainability criteria of the climate change mitigation and adaptation categories.

The degree to which environmental goals are met is determined with the help of simulations that run through climate scenarios up to the year 2050. The analysis confirms that the tenants of Square One will continue to enjoy an agreeable indoor climate, even if maximum summer temperatures rise over the years. This is ensured by a wide range of measures such as cooling ceilings and external sun protection. Further climate protection measures include a 140 kWp photovoltaic system, a rooftop water collection system to ensure complete ground seepage and the use of rainwater to irrigate the inner courtyards.

Taking responsibility for future generations results in higher credit rating
Sustainability has been an integral part of the project development business at STRABAG Real Estate for years. In order to meet the requirements of tomorrow’s work and thereby increase the value of the properties, future trends are always evaluated and incorporated into the planning.

“Square One is a showpiece property in terms of its environmental, economic and sociocultural aspects. The modern, energy-efficient office building not only offers its tenants extremely efficient space with a high level of third-party usability. It also has its own photovoltaic system on the roof and is already equipped with two double EV charging stations. And we will be installing more charging stations soon,” says Sebastian Pende, Managing Director of HIH Invest Real Estate Vienna, expressing his thanks. His company acquired the property in the middle of the year as part of a club deal.

“The EU taxonomy provides expert evidence of Square One’s suitability as a sustainable asset that would make a welcome addition to any sustainably structured fund or portfolio,” sums up ÖGNI press officer Katharina Saxa.

This press release is available for download at: https://strabag-real-estate.com/de-AT/news-beitrag/vorreiterrolle-im-klimaschutz-square-one-ist-eu-taxonomie-konform/