VGP has conducted a comprehensive carbon footprint analysis to better asses the climate impact of its operations. Based on this analysis, VGP has derived several targets that will allow the company to achieve carbon neutrality by 2025. In addition, VGP commits to reduce Scope 1 and 2 GHG emissions by 50 percent by 2030 from the base year 2018.

Jan Van Geet, CEO of VGP, stated: “Our commitment to become carbon neutral by 2025 is a very personal concern for me. I want to realize the necessary changes that are in our hands now to best preserve existing resources for future generations. I am also convinced that all our actions towards a more sustainable future will have a positive impact and strengthen our ties with all our stakeholders such as tenants, municipalities, investors, business partners, and employees.”

VGP’s Corporate Responsibility Report 2020 underscores the company’s progress and commitment to strengthening sustainability efforts across its day-to-day business amid the COVID-19 pandemic. The protection of the health and wellbeing of VGP’s employees has been a top priority in 2020 while ensuring a minimum impact on the construction progress of the VGP parks at the same time.

Another important step on the way to carbon neutrality has been the accelerated BREEAM (Building Research Establishment Environmental Assessment Method) certification efforts with 35% of the portfolio now certified, as well as the considerable expansion of the green power generation capacity of VGP Renewable Energy’s business to 42.5 MWp, with another 53.3 MWp in the pipeline. The VGP Foundation, founded in 2019, received a contribution of €3 million from VGP in 2020 and identified 16 initial projects for which over €1 million has been spent. Furthermore, VGP has committed to provision an additional €4 million contribution for 2021.