STONEWEG US RELEASES FIRST EVER CARBON FOOTPRINT ANALYSIS

News provided by

Jun 06, 2024, 10:00 ET

ST PETERSBURG, Fla., June 6, 2024 /PRNewswire/ -- Stoneweg U.S., LLC ("Stoneweg US"), an opportunistic real estate investment firm focused on the US multifamily housing sector, proudly announces the release of its 2023 Carbon Footprint Analysis. This pioneering report, developed in partnership with Longevity Partners, sets a new benchmark for the real estate industry by delivering heightened levels of transparency and commitment to sustainability.

Stoneweg US announces the release of its pioneering 2023 Carbon Footprint Analysis, quantifying the company’s emissions, identifying key sources and setting the stage for substantial carbon reductions.

In a time when climate change demands urgent action, Stoneweg US stands at the forefront, demonstrating its commitment to environmental stewardship. This analysis quantifies the company's emissions, identifying key sources and setting the stage for substantial reductions. Stoneweg US also completed this carbon footprint analysis for its largest managed investment vehicle, Varia US Properties AG, a Swiss publicly traded multifamily investment fund (SIX Swiss Exchange ticker: VARN). By establishing this baseline, Stoneweg US aligns with the Science Based Target Initiative ("SBTi") to ensure a sustainable future.

The analysis reveals that the Stoneweg US office located in St. Petersburg, FL accounts for 81% of total firm emissions, with the Dallas, TX office contributing 19%. Scope 3 emissions dominate at 84.9%, with major contributors including Business Travel (flights) at 34.46%, Purchased Goods and Services at 33.33%, Electricity at 15.06%, and Employee Commuting at 7.4%.

Stoneweg US has set bold emission reduction targets in line with the SBTi, as detailed in the report, aiming for a 42% reduction by 2030 from the 2023 baseline. Strategies include sourcing sustainable aviation fuel) to offset emissions from business travel, implementing sustainable sourcing for purchased goods and services, and collaborating with its office space landlords to enhance energy efficiency and promote renewable energy usage in Scope 2 electricity consumption.

"Stoneweg US is proud to lead the multifamily industry towards a more sustainable future," said Thomas Stanchak, Managing Director of Sustainability at Stoneweg US. "This analysis is not just a report; it's a call to action. By rigorously examining and addressing our carbon footprint, we demonstrate our leadership in environmental stewardship and our commitment to delivering long-term value for our investors."

Patrick Richard, CEO of Stoneweg US, added, "Sustainability is integral to our business strategy. By addressing our carbon footprint, we are creating a strategic advantage. Investors can be confident that our proactive approach to sustainability enhances our market position and financial stability. By reducing our carbon footprint, we are positioning ourselves to meet evolving regulatory requirements, appeal to environmentally conscious residents, and ultimately enhance asset value."

You can access the report here: https://www.stoneweg.us/esg-optimization

About Stoneweg US: Stoneweg US is a multifamily real estate investment firm located in the heart of downtown St. Petersburg, FL, with a portfolio valuation of approximately $2.0 Billion comprised of ~12,000 units. With a focus on asset optimization through responsible investing, climate resilience, and proven value-add strategies, the company invests in and develops sustainable communities to drive healthy returns and enhance the resident experience. For more information on Stoneweg US, please visit www.stoneweg.us

About Longevity Partners

Longevity Partners is an award-winning global sustainability consultancy, helping companies across the globe to unlock sustainable value in their transition to a low carbon economy. They provide businesses with strategic guidance, compliance support and innovative sustainability solutions. Through their end-to-end bespoke services, they enable companies to achieve their energy and resource efficiency targets, reduce their environmental impact, and future-proof their businesses. Longevity's expert teams have completed projects in more than 45 countries around the world, working hand-in-hand with corporates to position their assets for the demands of tomorrow, while improving today's well-being and net operating income.

Founded in 2015, Longevity Partners is made up of around 170 sustainability experts working from London, Paris, Amsterdam, Munich, Milan, Austin, Seattle, and Tokyo. For more information visit https://longevity-partners.com/ or email [email protected]

SOURCE Stoneweg US, LLC