Genesis Property secures SBTi approval for long-term emission reduction targets

In a world where the climate crisis is recognized as one of the greatest challenges facing humanity, Genesis Property has made significant strides in reducing its environmental impact. The company recently received registration approval from the prestigious Science-Based Targets initiative (SBTi) for its long-term emission reduction commitments, a milestone in its sustainability efforts.

This achievement comes on the heels of Genesis Property’s 2023 validation of its near-term target, shortly after publishing its first Scope 1 and Scope 2 greenhouse gas (GHG) emissions report, prepared in accordance with the GHG Protocol. The SBTi, a non-governmental organization founded by institutions such as the United Nations Global Compact and the World Wide Fund for Nature (WWF), is recognized globally for its role in guiding companies toward meaningful GHG reductions. The organization helps businesses align their decarbonization targets with climate science to combat climate change and contribute to the goals of the Paris Agreement.

Genesis Property’s emissions targets, validated by SBTi, aim to keep global warming below 2°C above pre-industrial levels, with efforts to limit the rise to 1.5°C. By adopting these science-based targets, the company is actively contributing to the global fight against climate change, a critical step in helping the European Union achieve net-zero emissions by 2050.

The company, founded by entrepreneur Liviu Tudor, is now focusing on securing validation of its long-term CO2 emission reduction target by 2026. According to Ioan Bejan, Sustainability Director at Genesis Property, “This approval is a recognition of our commitment to ambitious, long-term measures that accelerate the decarbonization of our portfolio. Genesis Property is now the only Romanian real estate company to have registered commitments with SBTi for both immediate and long-term greenhouse gas reductions, proving that environmental responsibility can complement business success.”

Genesis Property’s efforts are part of its broader sustainability strategy, aimed at positioning the company as a leader in promoting sustainable development within Romania’s real estate sector. A key example of this is the recent BREEAM Outstanding certification awarded to Building F of the YUNITY Park business campus, home to major companies such as Hewlett Packard Enterprise, HP Inc., Garanti BBVA, Luxoft, and Yokogawa. This certification represents a crucial step toward Genesis Property’s goal of achieving net-zero carbon emissions by 2040—10 years ahead of the EU’s Green Deal targets.

Since 2021, Genesis Property has been a member of the United Nations Global Compact, committing to its 10 principles on human rights, labor, environmental protection, and anti-corruption. Additionally, the company is now reporting its environmental, social, and governance (ESG) performance to the Global Real Estate Sustainability Benchmark (GRESB), further aligning itself with international sustainability standards.

With these achievements, Genesis Property continues to set new benchmarks in sustainability, underscoring its commitment to a greener, more climate-resilient future.