THE FLAG publishes ESG report
Procedure also makes sense for family businessesTHE FLAG publishes ESG report https://the-flag.de/wp-content/uploads/2020/11/the-flag-hotel-serviced-apartments-frankfurt-west-m-slider-4.jpg 1920 1281 THE FLAG https://the-flag.de/wp-content/uploads/2020/11/the-flag-hotel-serviced-apartments-frankfurt-west-m-slider-4.jpg
The family-run company THE FLAG offers tailored living concepts for students, business travelers and senior citizens with over 2,000 residential units in eleven buildings in Germany and Switzerland. THE FLAG, as a family-run real estate company, is not subject to EU taxonomy. Nevertheless, ESG reporting makes sense from the company’s point of view in several respects.
“Continuing the company for further generations is already an important motivation for us to operate sustainably,” says Dr. Eike Muhr, Managing Director of THE FLAG. However, it was thanks to the first ESG (Environmental Social Governance) report that the diversity and scope of activities and opportunities were even captured.
The Entrepreneurial Family had decided early on to contribute voluntarily to sustainable development and to document this also from the year 2020. Thoughts of sustainability were integrated into daily decision-making processes as well as overarching activities. “If possible, we align ourselves in a more economical, effective and environmentally friendly way. Last but not least, we want to continue to grow proﬁtably as a builder, developer, employer and host while being sustainable”, says Muhr.
More guests, better terms
More and more guests expected THE FLAG to support them in their own sustainability efforts, for example by reducing the carbon footprint for business trips. This is met with the hotel’s own efforts and documentation. “Guests don’t only want to feel good, they also want to know that this is all being done in an ecologically sensible way,” says Muhr. Eike Muhr also expects that in the future loan providers will increasingly take “green” considerations into account. In such cases, the expanding THE FLAG Group would like to realize financial advantages when making investments.
Tasks still to be completed
Eike Muhr emphasizes that the preparation of the report also made it clear to the company that there were still a few deficiencies in one area or another. These will have to be filled in the future. However, the creation of the report has contributed significantly to giving the ESG criteria a workable structure. Since THE FLAG develops and builds most of its own properties, the course for sustainability can be set at a very early stage. In terms of hard facts, this is reflected in a variety of different measures ranging from selected building materials to the implementation of combined heat and power plants to e-charging stations for cars and bicycles. “In day-to-day operations, it is then measures such as switching to ecodegradable cleaning agents, purchasing green electricity, implementing sustainability goals in personnel management or purchasing pool bicycles that allow us to score points in terms of sustainability,” says Muhr.
Growth Market Senior Living
THE FLAG sees major changes in the demand for apartments designed for older people. Eike Muhr is convinced that the reality of life for many people will change in the coming years. With rising rents in inner cities, seniors whose children have long since left home are looking for smaller inner-city apartments. “Here, the rent standard and senior-friendly furnishings have to fit”, says Muhr. Such apartments are still rare, she adds. For this reason, THE FLAG will continue to look for properties in attractive inner-city locations in order to realize these new forms of housing there.
The ESG report is available on THE FLAG’s website under this link.
About The Flag
Since more than 10 years, The Flag develops and operates residential offers for students, business people and seniors. The family-owned company offers this specialized form of living together and care services in Germany, Switzerland and Spain. The company’s portfolio now includes 19 houses with over 2,500 high-quality, centrally located apartments.