Dear reader

This sustainability report marks the end of the 2021–24 strategy period. We have achieved or exceeded most of the goals we set ourselves. Almost half of the space let by Allreal now has a sustainability certificate.

In the course of an extensive dialogue with stakeholders we have identified nine key sustainability topics for the new 2025–28 strategy period. For these topics we have defined strategic areas of activity with clear goals and measurable indicators over a time horizon of four years in each case. This approach ensures that we will continue to pursue our long-term goals vigorously until we achieve net zero in our portfolio by 2050 at the latest.

We have newly taken on the challenge of biodiversity as an important strategic area of activity. The topic of circularity is continuing to gain in significance and will be increasingly put into practice in construction projects. We are also reporting on greenhouse gas emissions in more detail in our reduction path, increasing transparency and comparability.

This year, in addition to the sustainability report under Global Reporting Initiative (GRI) standards, which has been subject to a limited assurance audit, we are for the first time also publishing a climate report that follows the recommendations of the Task Force on Climate-Related Financial Disclosure (TCFD). In it we describe the climate-related opportunities and risks and the potential financial impact these may have. From now on the TCFD report will form part of our sustainability reporting.

We are also backing sustainable instruments when it comes to financing. In April we issued our second green bond, raising CHF 150 million. These additional funds were invested in full in 2024 in renewable energies and green buildings.

The new tenants moved into Bellerivestrasse 36 in the first half of the year. This office building looking onto Lake Zurich is one of our flagship sustainability projects and is also certified to LEED Platinum standard. The high-profile conversion of the old 1970s Elektrowatt building demonstrates that with proactive planning, sustainability, high-quality architecture and economic interests are perfectly compatible.

We will continue to put this knowledge to use in the new year to implement challenging but sustainable projects that are economical with resources. By doing this we will build value – today and tomorrow.