Catella Residential IM to make €4.5b European portfolio carbon neutral

Berlin-based Catella Residential Investment Management (CRIM) has commissioned German ESG services provider Westbridge Advisory to help make its entire €4.5 billion ($5.3 billion) European portfolio carbon-neutral through the supply of renewable energy following a successful pilot for its assets in Germany.

The European portfolio comprises 207 residential properties with a total of around 27,000 units. Some 100 properties, with around 13,000 residential units, are located in Germany, while the rest are spread across Austria, France, Spain, Finland, Poland, Belgium, Denmark, the Netherlands and the United Kingdom.

Westbridge has helped to achieve a carbon dioxide reduction of around 13,500 tons across CRIM’s entire €2.2 billion ($2.6 billion) portfolio in Germany by changing the energy supply of the 100 assets. While making the German stock carbon-neutral, Westbridge also streamlined the energy consumption cost structure, generating total savings of around €455,