DIC Asset AG: Manage-to-ESG strategy earns excellent rating results

Press release

DIC Asset AG: Manage-to-ESG strategy earns excellent rating results

• Continuous improvement in ESG ratings by MSCI and S&P
• “Top rated” badges by Sustainalytics for outperformance last year
• Consistent implementation of the Manage-to-ESG strategy and further expansion of the green building share

Frankfurt am Main, 20 March 2023. DIC Asset AG (“DIC”), ISIN: DE000A1X3XX4, one of Germany’s leading listed property companies, has earned excellent rating results from the rating agencies MSCI and S&P for consistently pursuing its Manage-to-ESG strategy. MSCI upgraded DIC from an A to an AA rating. In the CSA rating (Corporate Sustainable Assessment) of S&P, the company substantially improved its score by 12 points. This puts DIC among the best 20% among international real estate industry players. In addition, the internationally renowned research, ratings and analytics firm Sustainalytics awarded DIC the badges “ESG Industry Top Rated” and “Region Top Rated” for its outperformance in last year’s ESG Risk Rating. Sustainalytics measures the most important industry-specific ESG risks and how well a company manages them.             

The background to the sweeping external recognition of its ESG strategy is that DIC reached and exceeded the green building targets of its proprietary portfolio well ahead of schedule, among other things. The original objective of DIC had been to attain a green building share of 20% in its proprietary building portfolio by the end of the 2023 financial year. Yet as early as the key date of 31 December 2022, the company raised the share to more than 30%. At the same time, DIC is steadily expanding the proportion of climate-efficient properties in its Institutional Business. Most recently, DIC received the platinum certificate from the German Sustainable Building Council (DGNB) for the first time for an office property in the Lyoner Viertel in Frankfurt-Niederrad.

“The sustainable development and climate-appropriate upgrading of our existing property portfolio and our Institutional Business represent key elements of our ESG strategy and values firmly ingrained in the DNA of DIC. It is also reflected in the very reassuring scores we received from renowned international ESG-rating agencies, and in a growing number of citations and certificates for individual properties. This also goes to show: It is not just us, but more and more of our tenants, shareholders and investors who are shifting their focus toward climate change mitigation, sustainability and efficiency in the buildings sector. We intend to keep consolidating our position at the head of this field,” commented Sonja Wärntges, CEO of DIC.

More details about the green building in the Lyoner Viertel locality in Frankfurt-Niederrad:

The office property was developed by Lang & Cie. Real Estate AG and Wentz & Co. GmbH according to an innovative and sustainable building design and completed in March 2022. Its concept includes a district heating connection, highly efficient ventilation and heat recovery facilities, the use of green electricity, and a photovoltaic system on top of the plant room. The property also features a disproportionately high number of bicycle parking spaces, EV charging points for bicycles and greened roof surfaces. DIC acquired the office property in December 2020 for the seed portfolio of an open-ended real estate special AIF. Deka, the building’s single tenant, benefits from the low energy consumption that is affected by the sustainable type of construction.

In addition, about 40,000 tons of CO₂ emissions by the building during the construction phase and the first ten years of operation were compensated via the acquisition of CO₂ certificates.

About DIC Asset AG:

DIC Asset AG is Germany’s leading listed specialist for office and logistics real estate with 25 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 360 assets with a combined market value of EUR 14.7 billion on site, always close to our properties and their occupiers.

The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales.

In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields.

DIC Asset AG has been SDAX-listed since June 2006.

For more details, go to www.dic-asset.de.

IR/PR Contact DIC Asset AG:
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Str. 20 • MainTor Primus

D-60311 Frankfurt am Main
T +49 69 9454858-1492
ir@dic-asset.de