CA Immo has become the first real estate company in Austria to be certified according to the standards of the Austrian Society for Sustainable Real Estate (ÖGNI).
CA Immo has become the first real estate company in Austria to be certified according to the standards of the Austrian Society for Sustainable Real Estate (ÖGNI).
In cooperation with the ICG Corporate Governance Initiative in Germany, the Austrian Society for Sustainable Real Estate (ÖGNI) has developed codes for corporate governance, value management and compliance management that define standards of good managerial practice for the construction and real estate sector.
These include special regulations on the duty to inform regarding changes in property valuations, representation of real estate experts on the Supervisory Board and specific rules governing conflicts of interest in real estate transactions and contract awards. CA Immo is the first Austrian organisation to implement these international guidelines.
Wolfhard Fromwald, a member of CA Immo management board, said, 'Transparency and sustainability have been central to our corporate values for many years, and many of our investors demand these qualities as well. Our subsidiary CA Immo Deutschland has been certified under ICG standards since 2010, and now we are aiming for ethical certification across the Group.'
CA Immo manages almost EUR 6 bn of real estate assets, divided between Austria, German, Central and Eastern Europe and the CIS.
