CITYCON OYJ              Corporate Press Release 14 May 2020

Citycon has signed the international Net Zero Carbon Buildings Commitment, which challenges construction and real estate companies and cities to work towards the carbon neutral use of energy at their properties by 2030. The organisers behind the Net Zero Carbon Buildings Commitment are notable international emission reduction organisations C40 Cities Network, World Green Building Council and The Climate Group.

Achieving carbon neutrality by 2030 was already part of Citycon’s own sustainability strategy, which it updated in 2018.

“Operators in the real estate and construction industry need to make a long-term commitment to slowing down climate change, and investing in renewable energy and energy efficiency were already part of Citycon’s strategy. The commitment we just signed, however, strengthens our goal and makes us a part of an international movement, which will hopefully continue to grow in the future as more operators in the Nordic countries join in. In practice, our goal means that all our shopping centres must be carbon neutral by 2030. We have already taken steps towards carbon neutrality by taking measures to improve our energy efficiency, increasing our own renewable energy production, cooperating with our tenants in matters of energy saving and increasing carbon neutral energy’s share of our procured energy. However, this commitment gives us an extra incentive to put our emission-reducing strategy into practice,” explains Wilhelm Ehrnrooth, Citycon Group’s Sustainability Manager.

“We are excited to welcome Citycon to the ever-growing community of Commitment signatories. Acting as a forerunner, Citycon is demonstrating the value of net zero carbon for all property types, including shopping centres. Only together, are we able to showcase strong demand for carbon neutral solutions in the real estate industry and change market practices towards carbon-free built environment,” comments Lauri Tähtinen, Development Manager at Green Building Council Finland.

A net zero carbon building means an extremely energy efficient building that runs primarily on renewable energy, with the leftover carbon emissions being compensated on an annual basis. On a global scale, the commitment has already been signed by over 80 organisations, including the Nordic cities of Helsinki, Stockholm, Copenhagen and Oslo.

The Net Zero Carbon Buildings Commitment can be joined by all operators who work with constructed environments and are prepared to commit to the 2030 target, measure and publicly report on their development on a regular basis, design their own route map for achieving carbon neutrality, verify their reduced carbon dioxide results with an impartial third party and promote carbon neutrality in their own sector and stakeholder groups.

Further information:
Wilhelm Ehrnrooth
Group Sustainability Manager
Tel. +358 (0)20 766 4492

Lauri Tähtinen
Development Manager, Green Building Council Finland
Tel. +358 40 486 5400

Citycon is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic countries. The total value of the property portfolio managed by Citycon is approximately EUR 4.4 billion. Citycon is the leading shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.