Passerinvest’s wide portfolio meets the requirements of the EU Taxonomy and sets standards for sustainable building solutions

The Passerinvest Group, in collaboration with the consultancy firm EY, has carried out an assessment of its buildings in the Brumlovka and Nové Roztyly districts of Prague according to the requirements of the EU Taxonomy. Given the extent of its portfolio, this is one of the most comprehensive assessments of its kind in Prague. The results show that 92 % of the buildings meet this European legislation’s criteria for environmentally sustainable investment. In absolute numbers, this equates to almost 200,000 sqm in Brumlovka and a further 23,000 sqm in Nové Roztyly. The remaining 8 % of the portfolio is made up of a single property that is scheduled for renovation to the same environmental standard. The company also applies the same principles in projects under construction, such as the Hila multipurpose building in Brumlovka and the Sequoia office building in Nové Roztyly.

“The assessment of the entire portfolio carried out by Passerinvest constitutes an extremely extensive project in the Czech context. Thanks to a complex approach and the use of detailed data, the results can be used not only for reporting, but also for the long-term management of building sustainability,” says Eva Vyskočilová, Senior Manager, Ernst & Young Audit.

The EU Taxonomy is a unified European classification system that, with regard to financing, strategic decision-making and investments, helps to set criteria for the assessment of environmentally sustainable activities, including the construction and management of real estate. Compliance with these requirements is a regulatory obligation that strengthens the value of the portfolio over the long term, opens up access to green finance, increases transparency and prevents greenwashing. Out of a total of six environmental goals, Passerinvest’s assessment focused primarily on adapting buildings to climate change. In the real estate sector, the main areas assessed include energy efficiency, emissions reduction, quality of the indoor environment, sustainable water use, biodiversity protection, climate resilience and the overall impact of the construction on the surrounding area. The active development of blue-green infrastructure plays an important role in the assessment, including extensive green spaces in Brumlovka and Nové Roztyly, roof gardens, measures to prevent the formation of heat islands and well-thought-out rainwater management. These elements contribute to the long-term climate resilience of the buildings and their surroundings.

Social and ethical principles as the foundation of the company’s operations

The Group largely complies with basic social and ethical standards through the Passerinvest Code of Ethics, which is based on the biblical Ten Commandments, and the Code of Ethics for Suppliers. These set clear rules with regard to human rights protection, fair working conditions, corruption prevention, responsible management and workplace safety. These ethical principles are applied not only internally, but also to our mostly Czech supply chain, which strengthens the transparency and long-term sustainability of our partnerships.

The current results set the standards for future projects

“We believe the assessment of our portfolio according to the requirements of the EU Taxonomy is a natural part of Passerinvest’s long-term strategy. The result confirms that systematic investment in the quality of buildings, public spaces and blue-green infrastructure have a real impact. The data that we’ve obtained is also an important basis for further improvements and responsible planning of future construction,” says Barbora Kovandová, ESG Specialist, Passerinvest Group.

Compliance with the requirements of the EU Taxonomy is also being reflected in upcoming projects. An assessment of how these criteria are being fulfilled is already underway for the Hila multipurpose building, which is currently under construction in Brumlovka. Other group projects – the Orion, Sequoia, Omega and Arboretum buildings – have also been designed from the beginning with the aim of meeting these criteria.

“The quality of our projects has always been based on the conviction that well-designed and well-managed buildings benefit not only the users, but also the city as a whole. The fact that the vast majority of our portfolio meets the requirements of the EU Taxonomy is confirmation of the consistent approach that we have been applying for a number of years,” adds Martin Unger, Technical Director & ESG, Passerinvest Group.

Passerinvest has been developing the Brumlovka neighbourhood in Prague 4 and the Nové Roztyly site in Prague 11 for a long time. These are based on the principles of a compact city, high-quality public space, accessible services and care for the surrounding environment. For the third year running, the company has published a non-financial report according to the European VSME standard. Stable building occupancy, high tenant satisfaction and a wide range of services confirm the long-term sustainability and appeal of both Prague locations.