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We are committed to fulfilling our social responsibility: the environment, society and economy are the foundation of our business activities.
They all carry equal weight and are taken into account in everything we do.
As a company, we aim to achieve lasting business success while at the same time taking responsibility for people and the environment.
"With our projects and our general entrepreneurial actions, we clearly assume a social responsibility.
In relation to climate change, our goal is to achieve climate neutrality along our entire value chain from 2045 onwards. We are therefore clearly committed to the climate targets of the United Nations and the German Federal Government. Starting this year, we are reporting not only our Scope 1, 2 and 3 greenhouse gas emissions but also the emissions from the building lifecycle of our projects. For us, assuming social responsibility primarily means making our contribution
to the creation of affordable housing in German metropolitan regions. We are also pursuing innovative and unconventional approaches to this. The protection of human rights and high standards in relation to labour standards, environmental protection and the fight against corruption are fundamental values for us."
Dr Foruhar Madjlessi, CFO
The Management Board and the management teams of the subsidiaries are jointly responsible for the sustainable actions of Instone Real Estate. Instone Real Estate is committed to taking even greater account of the impact our projects have on the common good and the immediate environment. The sustainability department supports our Chief Financial Officer, Dr Foruhar Madjlessi, who is responsible for the Instone sustainability strategy, its implementation and (sustainability) risk management at Management Board level. He regularly monitors and checks the progress and status of the target achievement, and ensures that cross-divisional issues are included in the activities of other departments and in corporate planning and governance, and also when it comes to drafting or revising guidelines. To this end, the Management Board has overall responsibility and will continue to consult within the Sustainability Committee.
Review of all revenue-related projects for taxonomy compliance with regard to climate protection and adaptation to climate change
Analysis and clustering of physical climate risks
Extension of the transitory climate scenario analysis by quantitative key figures related to the scenarios 1.5 degrees C and 2.6 degrees C global warming
Launch of a first marginal abatement cost curve (MACC) for future development of measures of the scope 3 (GHG Protocol)
Significant expansion of data collection incl. formalisation of environmental indicators
Implementation of a digital client survey
Renewed confirmation of Instone an attractive employer
High employee satisfaction
Reaffirming the importance of diversity and repect for human rights
Reaffirming the trustful cooperation with contractual partners, clients, municipalities and communitiese
Development of neighbourhoods with (social) impact, to make a significant contribution to society
Implemented reporting structure requirements ESRS/CSRD (draft of 15.11.22) for current reporting
Update of materiality analysis and report on all relevant identified themes
Introduction of standardised processes for the workflow and data collection
According to the 2020 global status report for buildings and construction in the UN environmental program, the greenhouse gas emissions of the two industries make up about 38% of global greenhouse gas emissions. In its 2020 issue, the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety announced that the proportion of greenhouse gas emissions from the use of buildings in Germany continues to amount to 14% of national greenhouse gas emissions.
While the focus today is still primarily on emissions in the context of the operation of the buildings (operational carbon), the focus will shift more strongly to emissions before and after the use phase (embedded carbon).
As part of our climate strategy, we continually analyse the implications of climate change using the concept of double materiality based on the EU Directive on the disclosure of non-financial information.
Financial materiality deals with the question of how climate change could impact the existing business model. This also includes understanding how increasing measures to protect the climate could change our business as a project developer as well as the construction and real estate industry. In line with TCFD recommendations, in 2022 we also qualitatively and quantitatively assessed using a transitory climate scenarios which opportunities and risks climate change can have on us in the short, medium and long term. The aim of the survey based on the following global warming scenarios 1.5 °C (ambitious transition), 2.6 °C (business-as-usual) 4.3 °C (worst-case) is to pursue a proactive transition management approach in order to develop timely and targeted measures. From today's perspective of the analysis, however, the business model of Instone Real Estate is resilient to climate risks. However, this does not rule out the need for future adaptation measures to effectively manage risks and opportunities.
With regard to environmental and social materiality, the Company’s attention will be focused on measuring and continuously reducing the potential impact of our activities on the environment and/or climate change. In this context, the questions to be answered are to what extent and what proportion our business activities contribute to climate change or to increasing climate protection. As already stated above, in this context, we have significantly ramped up our efforts to measure our greenhouse gas footprint and set ourselves the target of climate neutrality (in the sense of science-based net zero emissions) for our total greenhouse gas emissions by 2045. The certification (in 2022) of these targets by SBTi is intended to underline this endeavor.
Instone Real Estate creates more than just that Living space – we design
Habitats, provide for quality of life in the community and integration.
Responsibility is firmly rooted in our corporate culture and therefore in the day-to-day actions of the Group. Instone Real Estate is aware of its impact on society and the environment and wants to contribute to positive development with its projects.
This includes engaging via the media, services and the knowledge of our employees and financially where help and support is required outside the Company, for instance for the creation of a lively residential district.
As a good corporate citizen, Instone Real Estate also takes action especially in locations where the Company has projects. Organisations and initiatives that promote the neighbourhood, the development of social service facilities in an urban district or make infrastructure improvements are our preferred efforts to support.
As one of Germany's leading real estate developers, we are convinced that we can only operate our business model successfully in the future if we act responsibly over the long term.
Due to ongoing demographic change and social and ecological changes, a holistic approach is necessary, taking into account social sustainability factors: affordability, development in line with requirements and the creation of housing. Involving citizens and other stakeholders at an early stage is essential for successful urban development. In this context we work closely with municipalities and local authorities and lend our knowledge to their efforts.
For these reasons, Instone’s focus in the planning phase is on the development of city districts that are worth living in. Diverse housing stock, various home sizes, integrative living and the integration of social service infrastructure such as day-care centres, schools, areas for sports and meeting places underscore this. To ensure adequate transportation options, we additionally optimise connections to local public transportation together with municipalities and local authorities.
In addition to the development of freehold flats, Instone Real Estate also makes a major contribution to the development of subsidised and price-controlled housing. As at 31 December 2022, approximately 3,011 of the 16,209 units of Instone Real Estate’s project portfolio (sold and unsold housing units of the 2022 project portfolio) were designed as price-controlled flats. This way, we create mixed neighbourhoods that are attractive to all population groups and income levels.
Our whistleblower system offers the possibility to report potential violations of rules or laws by our employees and business partners.
We check every report and follow it up consistently. In doing so, we pay attention to the following principles:
There are several ways to report potential misconduct which adhere to the above principles. As a whistleblower, please make sure that people outside your field of expertise can also understand your descriptions.
Under the e-mail address whistleblower@instone.de you can report tips, also anonymously, about potential misconduct directly to our compliance management, which is responsible for investigating and sanctioning misconduct in our company.
Finally, you have the option of reporting any misconduct by our employees via an online whistleblower system.
This protected whistleblower system is operated by an independent service provider. Also, reports and documents can be submitted anonymously there.
Number of notices in the current financial year:
In 2020, 2021 und 2022 there have been no reports through the various channels of our whistleblowing system that were subsequently confirmed.
Respecting human rights is an integral part of our responsible corporate governance efforts.
We require respect for all human rights along our entire value chain from our own Company as well as from our business partners. We expect that all participants will meet their duty of care with regard to human rights.
The core values of lawful and ethical behavior are summarized in a group-wide Code of Conduct. His specifies existing duties and responsibilities and derives various codes of conduct on the basis of the law or existing official instructions.
The code of conduct offers employees, service providers and contractual partners of Instone Real Estate orientation and assistance in their day-to-day work and interactions. It also sets out values to which Instone Real Estate is expressly committed.
Although our Code of Conduct covers many different topics, it is possible that laws could be violated or duties could be breached. Our employees can report violations or suspected violations of the law, statute or Company guidelines and rules to their supervisors, the Compliance Officer, a whistle blower hotline or an online whistle blower portal.
In order to show and underline our basic values on the subject of human rights, diversity and equality - i.e. diversity, we signed the "Charta der Vielfalt" (Diversity Charter) in 2021 and support the values that are shaped here both internally and externally. By signing the "Charta der Vielfalt", we are signaling to create a work environment that is free from prejudice and that the appreciation of all our employees regardless of age, ethnic origin and nationality, gender and gender identity, physical and mental abilities, religion and worldview, sexual orientation and social origin. We continuously review our processes and enter into internal and external dialogues. This also means that, among other things, we are reaffirming our commitment to a balanced gender pay ratio.
Instone made a strategic decision to participate in recognized ESG ratings in order to give our stakeholders another opportunity to get information. With this we can communicate our progress accordingly. We therefore started the rating process with Sustainalytics for the first time in 2021.
Sustainalytics is an independent, innovative service provider in the field of ESG ratings. In the ESG Risk Rating, we received a rating of 13.2 and are therefore classified in the “low risk” risk category. This places Instone among the top 2% of real estate developers worldwide. Instone makes a clear commitment to the future improvement of the ratings as well as further ratings below. In future, the re-ratings will be made after the publication of the annual report.
We are aware that there are sustainability risks throughout our entire supply chain.
Our aim is to promote sustainability throughout the supply chain, increase transparency and therefore further minimise procurement risks.
Our suppliers can be subdivided into various categories:
Deloitte GmbH Wirtschaftsprüfungsgesellschaft, Munich (Düsseldorf office) has been the group auditor for Instone Real Estate Group SE since the 2018 financial year. Since 2020, the responsible auditor is Prof. Dr. Holger Reichmann. Deloitte has also been appointed as auditors for the 2022 financial year. Deloitte's activity as auditor ends at the latest in the 2027 financial year.
"Despite all these challenges, Instone Real Estate has many reasons to look to the future with confidence. Our company values and guiding principles help us in this."
Kruno Crepulja, CEO
As a successful and listed company, we are responsible for complying with laws, legal systems, and social and political framework regulations. It is an important asset for us to protect and preserve our reputation. Every employee and partner must therefore be able to do the right thing and act in accordance with the law.
In addition to the guidelines shown below, there are further company guidelines and work instructions for concretisation.
InstoneData protection and IT security are important to us, as violations of these two areas can result in significant financial and reputational damage.Instone therefore follows the legal regulations on the protection and security of personal data and has appointed an external data protection officer. Our IT landscape is adapted to the current legislation. The technical and organizational measures for data protection are also regularly checked to ensure that they are up to date. To ensure adequate data security, Instone has issued guidelines for internal IT security and for our external IT service providers.
We respect privacy and protect confidential information and data from all eligible groups from whom we process personal data, such as
Instone has published data protection information in particular, which you can access HERE.
Our data protection team and our external data protection officer advise our employees and monitor compliance with data protection regulations. Our data protection officer is available as a contact person for our employees, customers and business partners if required. His contact details are as follows:
TÜV Rheinland i-sec GmbH
Am Grauen Stein
51105 Köln
Phone: +49 221 56783-505
E-Mail: Datenschutzbeauftragter@instone.de
Our employees are trained annually in data protection-related issues and information material made available.
In the context of an IT security guideline, we have also specified notes and instructions for our employees through which IT security in the company can be improved together with the IT department. This regulates, for example, the handling of the hardware made available, user IDs and passwords, data backup and confidentiality as well as protection against malware and cyber attacks
An essential part of compliance at Instone is the careful selection of business partners, especially to reduce corruption and fraud risks and to prevent money laundering.
We do not allow business with our company to be misused for money laundering or terrorist financing. We reject any business with which a third party secures advantages from a criminal offense. We have therefore taken special preventive measures to identify and counteract such suspicious situations, including:
Business partner check
Before each contract is concluded - for example with contractors or buyers of our condominium - a business partner check (third party due diligence) must be carried out by Instone.
Instone employees are obliged by company guidelines to first carefully identify each potential business partner. This is primarily the responsibility of those employees who conclude contracts with business partners, such as purchasing, project or sales management. To this end, Instone has set up a formal review and control process in which business partners are classified into risk groups.
In-depth checks are carried out as soon as the possibility of an increased compliance risk or money laundering risk is identified on the basis of predefined criteria. If this in-depth examination confirms an increased compliance risk or a money laundering risk, a contract can only be concluded after approval by the compliance officer.
Money laundering suspicion
Instone and its employees observe the requirements of the Money Laundering Act (GwG) in order to protect Instone from damage (in particular with regard to reputation and reputation). In the case of real estate transactions, the notaries who authenticate are also obliged to carry out an identity check and help to prevent money laundering in the context of real estate transactions.
If the business partner check reveals a suspicion of money laundering risk, the business partner is examined more closely. If the suspicion of a money laundering risk is confirmed, the compliance officer decides on how to proceed and reports it to the responsible government agencies.
Sanctions list check
Instone follows the legal obligations to check new customers, suppliers and service providers for their inclusion in sanction lists. Existing customers and suppliers with whom we have a long-term cooperation, for example, are also checked accordingly at regular intervals.
Bank data validation
Our employees are obliged to prevent fraudulent activities through a company guideline, observing the four-eyes principle for checking and approving bank data, transfers and incoming payments.
Any suspected compliance violations, money laundering and other fraudulent activities are reported to the compliance officer and can be reported to the responsible authorities, e.g. the Central Office for Financial Transaction Investigations in the event of suspected money laundering.
The testing process is carefully documented by Instone. In the event of tests with a negative result, the relevant business partners are kept in a blacklist directory in order to exclude them from future contracts.
Compliance - that is, adherence to legal regulations and internal company guidelines and specifications - is of the utmost importance to Instone. A company's reputation and economic success can be seriously damaged by compliance violations.
Instone has therefore developed a risk-oriented and preventive compliance strategy through which our employees are made aware of compliance issues and a positive compliance culture is promoted in our company, in particular by setting an example and conveying the relevance of compliance to the highest company level (Tone-from-the-Top).
The development and implementation of our compliance strategy is integrated and firmly anchored in our Instone compliance management.
Our Compliance-Management
our employees and thereby contributes to the prevention of any rule violations.
In addition, compliance management is responsible, among other things, for compliance with applicable law and the company's internal compliance rules
The compliance officer at Instone is responsible for managing compliance management. This reports to the board member responsible for compliance and to the supervisory board. In addition, Instone has set up a compliance committee, which reviews the compliance situation at regular intervals and as required and adapts it to new developments.
For the increasingly important area of data protection, which Instone sees as an essential part of the compliance regulations to be observed, Instone has also appointed an external data protection officer who, together with a data protection team, advises our employees on data protection issues and monitors compliance with data protection regulations. The data protection officer also acts as a contact person for our customers and the responsible supervisory authorities.
The primary goal of Instone is to prevent compliance risks from the outset through preventive measures. Instone uses guidelines, training and advice in particular.
In addition, Instone is pursuing the goal of detecting compliance violations that have occurred, eliminating them and continuously developing the compliance management system itself with the compliance management system.
Guidelines
Essential stipulations on compliance-compliant requirements and processes are contained in guidelines and work equipment that must be applied. These include, for example, the following guidelines:
Trainings
All employees are also required to take part in regular compliance training courses, the content of which is updated annually. In addition, extraordinary training courses can be ordered by the compliance officer if this is necessary due to important new issues.
Advisory
In addition to the executives, the compliance officer is the direct point of contact for questions relating to compliance.
Detection and Tracking
Any suspected compliance cases can be reported to Instone by employees or third parties or discovered as part of internal or external controls and investigations.
In order to report suspected compliance cases, our employees - in addition to the option of confidential information to managers or the compliance officer - have a whistleblower hotline, which is managed by an external law firm, as well as an anonymous whistleblower system. Incoming reports are treated confidentially and contact is sought with whistleblowers in order to receive the most detailed reports possible.
The compliance officer and compliance management follow up on reported compliance violations. He leads the investigation and coordinates suitable measures to remedy and, if necessary, report compliance violations to the responsible authorities as well as possible sanctions for an established compliance violation. On the basis of a detailed analysis of any compliance cases that have occurred and taking into account changed general framework conditions, the compliance officer, with the involvement of the compliance committee, derives measures for the further development of Instone's compliance management system and ensures their implementation.
The whistleblower policy (hereinafter to be referred to as ‘the policy’) provides detailed information about the company’s whistleblowing system in order to follow the recommendations framed in the EU Whistleblower Protection Directive, the German Corporate Governance Code (GCGC) and ICC Rules of Conduct to Combat Extortion and Bribery, as well as to ensure compliance with all related statutory requirements. The overarching goal is the protection of any person who reports suspicious cases of fraud or irregularities performed by members of the board or employees of the Instone Real Estate Group AG as a stock corporation including all subsidiaries (hereinafter to be referred to as ‘Instone’).
Suspicious cases can either be reported by Instone’s employees, external persons or discovered by either internal or external controls or inquiries. Persons who have reasons to believe that board members or employees of Instone have acted contrary to statutory regulations, Instone’s Code of Conduct or any internal guideline or policy, are asked to report the suspicious case to the compliance officer or the ombudsman. Internal whistleblowers may contact both of them in person or alternatively by a digital, external whistleblower system available in German. The ombudsman or his substitute may also be called via an external whistleblower hotline. All possible ways of communication are pro-actively communicated to Instone’s employees in the company’s intranet (InHome) in order to ensure that relevant issues are reported in the best possible way and as quickly as possible.
Every reported case will be taken seriously, investigated systematically and treated confidentially.
Protecting whistleblowers is of significant importance to Instone. Thus, every whistleblower is entitled and will be given the opportunity to consult an independent legal counsel being bound to secrecy. The legal counsel will be designated by Instone’s compliance officer.
Instone will protect the whistleblower’s identity. If any reported case or specific details will be revealed, this happens
(i) with the whistleblower’s knowledge and explicit permission
(ii) in case of reporting obligations on the basis of applicable laws, regulations of the Frankfurt Stock Exchange or any responsible authority
(iii) in the form of disclosures to Instone’s or the whistleblower’s counsellors, conditionally upon an obligation of secrecy and reduced to the extent of verifiable lawful purposes.
Instone declares explicitly, that whistleblowing shall not lead to disciplinary measures or any other adverse consequences for the whistleblower. Furthermore, Instone declares that deliberate misrepresentations may result in legal consequences. Instone does not pay or offer any comparable monetary commitments for information.
After the first report was made by the whistleblower, the contacted person will record the suspicious case, start further investigations and, if necessary, contact the whistleblower for further information. If, on the basis of the facts presented and after a corresponding examination, the existence of a violation of legal requirements or internal compliance rules can be confirmed, the following rules apply , the following steps and measures are initiated:
(i) Instone’s compliance officer must inform the Management of the Board about any compliance violations.
(ii) in cases of violation of internal guidelines or policies, the violating person will be given an admonition or a warning notice and, depending on the gravity of the violation, additional measures or sanctions according may be taken. The decision is in the hand of the compliance officer in coordination with HR and after consultation of Instone’s Management Board.
(iii)cases of violation of law or statutory regulations will first be treated internally. If necessary, thecase will also be reported externally to the competent authority.
(iv)In cases of misconduct by external persons, Instone’s compliance officer will decide aboutappropriate measures in coordination with the departments involved in the specific case.According to the gravity of misconduct, possible measures maybe the immediate termination ofthe contractual relationship or the blocking for future award procedures.
Every reported case is documented and archived by Instone’s compliance officer.
Instone has established a permanent Compliance Committee whose task it is, amongst other things, to discuss the status and reaction to short-term compliance-relevant facts, e.g. communicated to Instone by whistle-blowers.
Instone’s compliance committee is interdisciplinary and consists of:
Whistleblowers have the opportunity to submit information on suspected compliance cases 24 hours a day, 7 days a week using the various protected channels of our whistleblower system provided for this purpose.
Instone will not tolerate corruption under any circumstances, neither on the part of business partners or third parties nor on the part of our employees. Incidents of corruption are consistently pursued without exception in order to protect our employees and our company. Every Instone employee is strictly prohibited from corruption in any form, from bribery and corruption to taking and granting advantages.
Corruption occurs in the granting of benefits to which the recipient is not entitled and on the basis of which he or she becomes or could become dependent. Instone understands the concept of gifts broadly, according to which they can consist of any material or immaterial advantage. These include, for example, cash donations or the discharge of debts as well as the surrender of valuables. Invitations to cultural, sports or other events, trips or (business) meals, services of any kind, discounts and similar things of value can be classified as benefits relevant from the point of view of corruption.
When the acceptance of such benefits is permitted, Instone has stipulated in a company guideline to be observed by our employees in which the following, Instone-wide principles for the prevention of corruption are specified:
Contributions to employees
In general, extreme restraint is required when accepting and granting benefits. None of our employees may accept gifts or offer or grant benefits to a business partner or third party if, after careful examination, this could influence a business decision.
The acceptance of money as well as the demand of gifts or other advantages for oneself or close people are always prohibited.
Our business partners are informed about the applicable corruption prohibitions via our Code of Conduct for contractual partners and are obliged to observe them themselves and to ensure that the corruption prohibitions are also observed by their employees.
Contributions to business partners
Donations to our business partners are only permitted in compliance with the stipulations of the company guidelines, which must be observed, and the rules and statutory provisions established by the business partner. Permitted benefits must always be designed in such a way that the impression of undue influence is excluded. Any connection with business activities is prohibited without exception.
In all cases of doubt, approval must be obtained from the compliance officer before the offer or acceptance of a benefit.
Contributions to public officials
Particular restraint applies to public officials and public employees. As a matter of principle, our employees are prohibited from granting a gift, even small favors or a "thank you" for performing an official act.
Violations of the absolute prohibition of corruption are not tolerated and are regularly punished with termination of the employment relationship. In addition, there is a risk of criminal law consequences from state authorities and courts (fines, imprisonment) over which Instone has no influence.
Instone Real Estate is committed to maintaining a world worth living in for future generations. Instone would like to take a leading role in achieving this goal within the real estate industry.
Instone Real Estate also reports on its commitment to environmental issues with the annual sustainability report and on its homepage and social media.In the sustainability report are the vision and sustainability model as well as the Environment fields of action are presented and serve as a guideline that is continuously questioned and adapted.
Our understanding of responsibility with regard to environmental aspects is as follows:“Climate and environmental protection are among the main challenges of the 21st century that society and companies have to face. Housing and a functioning infrastructure are basic human needs. This creates a significant proportion of the CO₂ emissions in the building stock.
The business activities of Instone Real Estate are accordingly associated with significant environmental impacts, both indirectly and directly. In the future, we will successively analyze our ecological footprint and further improve it significantly. In the area of one's own business activities, this applies, for example, to issues such as the vehicle fleet, paper consumption or the energy consumption of property used by the owner.
A much bigger lever, however, is the ecological footprint in the production and operation of the buildings we have built and the associated quarters, the entire product and life cycles of which have to be considered. The focus here is on the CO₂ emissions caused, the amount of waste generated in production and operation, the consumption of mineral, non-renewable raw materials in the production of building materials, the creation of improved biodiversity through appropriate compensatory measures as well as the implementation of intelligent measures for waste and disposal and recycling management . "
The field of action of the environment thus covers the following topics
There is great potential in the diversity of our employees. That is why Instone Real Estate employs people with different backgrounds and experience out of conviction. All employees are called upon to create an atmosphere of respectful togetherness and to resolutely oppose discrimination based on race or ethnic origin, nationality, gender, religion or belief, disability, age or sexual identity.
At Instone, it is also a matter of course not to discriminate against anyone based on their religion, worldview, age, sexual orientation or disability. In 2020, no incidents of discrimination were reported in accordance with the General Equal Treatment Act.
To underline this, we express and commit to ensure in particular to the following conventions, which we take as a yardstick for our actions and to which we expressly acknowledge:
When it comes to remuneration, too, we strive for equal rights in terms of the basic salary. In the future, we will include age, experience, function and training for transparency and the development of the gender pay ratio in order to confirm our commitment.
GeneralInstone Real Estate is a leading developer of residential real estate in Germany. As a company, we want to be economically successful in the long term and at the same time assume our social responsibility. We therefore act as a responsible taxpayer in accordance with applicable tax laws and regulations, such as by paying real estate transfer tax when purchasing our project properties. Against this background, we want to make an appropriate contribution to the financing of the community in Germany, measured by our financial earning power. The company pays its taxes exclusively in Germany. At the same time, our shareholders and stakeholders expect Instone Real Estate to limit the tax burden to a legally permissible level.
It is our goal to act in accordance with the respective tax laws in Germany.Observing the tax compliance requirements is of fundamental importance for Instone Real Estate. Accordingly, Instone Real Estate has adequate business processes to regularly identify and monitor tax risks and their possible interaction with other business risks. In the case of complex tax matters, we coordinate with external tax specialists in order to find an appropriate and proper assessment of these matters.
A trustworthy and transparent communication with the local tax authorities is very important for Instone Real Estate. We submit the tax returns properly and within the legally permissible deadlines. We prepare the necessary documents for the documentation of the various tax issues in accordance with the applicable laws. If there are any tax questions, we actively use the instrument of binding information in order to find a joint solution to complex tax issues with the respective tax authorities in good time.
The CFO of Instone Real Estate is regularly informed by the Head of Finance and the Head of Taxes about all important tax issues and their current and future financial effects. This enables the CFO to report to the entire Board of Management and the Supervisory Board on relevant tax issues and possible tax risks, as well as their treatment.
We report and publish our tax positions in accordance with the applicable regulations and requirements (e.g. IFRS or HGB).We publish our tax expenses in the respective fiscal year, our annual tax payments and our effective tax rate transparently in our annual report.
We almost exclusively pay taxes in Germany.
You can find more information about our Clawback Policy here LINK
It is Instone’s strategy to strive to continuously improve its procurement activities to minimize adverse effects on ecological, social and economic conditions and take responsibility for these. Alignment with the applicable laws and regulations and the scope of the impact is taken into account.
A sustainable purchasing strategy includes assessing the necessity and processes in procurement process, as well as the options available to ensure a long lifespan of the materials to be used.
Thus, the following topics and their continuous review within the overall framework of economic and sustainable purchasing are included within the scope of the procurement:
Specific topics are included in the relevant project specifications and in the documentation of the products, processes, technologies and services to be used and applied.
Do you have questions about sustainability? Then we look forward to your message.
Wibke Witschel
Grugaplatz 2 - 4, 45131 Essen