It is a priority to us to establish measures which align our portfolio with European climate objectives. That is why we are further working to verify our warehouses with the EU Taxonomy, a classification system defining an environmentally sustainable economic activity to reach the objectives of the European Green Deal. Furthermore, it helps investors and companies to make informed investment decisions for sustainable activities.

We already successfully received EU Taxonomy verifications among several of our warehouses in Europe for ‘construction of new buildings’, ‘acquisition and ownership of buildings’ and ‘installation, maintenance and repair of renewable energy technologies’. We are reporting both on eligible and aligned activities for EU Taxonomy. 

Read our approach to the EU Taxonomy and its implications here.

In order to be compliant with the EU Taxonomy Do No Significant Harm – Transition to Circular Economy criterium the Group is transforming its approach to circular economy concepts: 

• Target of at least 70% (by weight) of the non-hazardous construction and demolition waste generated at site to be processed for reuse or recycled or otherwise recovered. In 2023, VGP recycled 80.2 % of the total construction waste at its construction sites. 

• Strict waste monitoring at construction sites, and implementation best practice activities to eliminate final waste and pollution, keep products and materials in use, and reduce the primary material consumption.  

• Leverage relationships with construction materials suppliers to raise awareness of sustainable construction and influence behaviour change towards circular economy practices.  

• Ensure the building design and construction technology support the circular economy by making the building resources efficient, adaptable, flexible and dismantlable.

• Application of the BREEAM or DGNB certification standard to promote resource efficiency and lower emissions with products easier to maintain, reuse and recycle and having an eco-label and/or lower environmental impact (such as PEFC™ or FSC®-certified timber).  

An increasing number of our construction projects are brownfield redevelopments to repurpose industrial wasteland. Brownfields are industrial wastelands, often old factories, formerly used for heavy industries or production processes. These brownfields often need decontamination works, which gives also environmental advantages for the area near the brownfield.

Next to decontamination works, brownfields often need demolition works to make it suitable for new constructions. Materials from these demolition works are often reused for new purposes. With brownfield developments, we therefore contribute to the positive development of local areas, as well as respond to the shortage and environmental considerations of greenfields. Additionally, these brownfields are often located on prime locations, near mayor cities, which makes them suitable for last mile delivery.