CITYCON OYJ Corporate Press Release 3 April 2025 at 10:00 hrs
The 2024 Sustainability Accounts by Citycon Oyj, published today, showcases the company’s dedication to sustainability and its continued progress in achieving long-term environmental and community goals. The report highlights Citycon's strong performance in key sustainability areas, including energy efficiency, community engagement, and its commitment to reducing its environmental footprint, all while enhancing the role of its centres as sustainable community hubs.
Citycon is firmly committed to mitigating climate change through a goal of carbon neutrality by 2030. By this year, the company will have eliminated all direct emissions from its buildings, and its purchased energy will be fully carbon neutral. Furthermore, all new development and major renovation projects will be carbon neutral in terms of energy consumption. A significant part of Citycon’s strategy includes enhancing energy efficiency and investing in renewable energy production.
Citycon’s sustainability strategy focuses on six priority areas: carbon neutrality, community hub, circularity & natural resources, sustainable value chain, sustainable mobility, and excellence in action. In 2024, Citycon further enhanced its energy efficiency initiatives, incorporating AI-based services to optimise building automation for energy use and indoor climate control. The company's efforts are closely monitored through a carbon neutrality tool used at all its centres to track energy consumption and CO2 emissions, enabling the prioritisation of the most effective energy-saving projects.
Citycon’s sustainability performance was recognised for the fourth consecutive year, with the company named one of Europe’s Climate Leaders by the Financial Times and Statista. The company’s commitment to reducing greenhouse gas emissions is in line with the 1.5°C Paris Agreement target, and it is continuously working towards its carbon neutrality goal by 2030.
“At Citycon we create cities full of life. To achieve this, we must have the ambition to be a forerunner in sustainability. Building on the double materiality analysis conducted in 2024, we plan to update our sustainability strategy again in 2025. While we are on the right path, we commit to focus further on areas with the greatest mutual impact,” says CEO Oleg Zaslavsky.
Assessing both financial impact and materiality provides a more comprehensive view that helps to manage risks, seize opportunities, and align with sustainability goals while fostering long-term value creation. From 2025 onwards Citycon will update its CSRD implementation plans to adapt to possible impacts from European Commission’s recent Omnibus-proposals.
The 2024 Sustainability Accounts provide detailed insights into Citycon's environmental and social performance, along with highlights of its sustainability initiatives during the year. The report also includes an interview with the CEO and real-life examples of the company’s sustainability efforts. The Sustainability Accounts is attached to this release and is available on the company’s website at https://www.citycon.com/sustainability/sustainability-accounts.
In addition, Citycon has also published its annual Green Financing Allocation of Proceeds and Impact Report 2024, which integrates the company’s sustainability targets with its financing activities. The report is available on Citycon’s website at https://www.citycon.com/investors/financing/green-financing
CITYCON OYJ
For further information please contact:
Investor contact requests through:
Anni Torkko
Investor Relations Manager
Tel. +358 45 358 0570
anni.torkko@citycon.com
Media contact requests through:
Atte Palomäki
Director, Corporate Communications
Tel. +35840 545 6390
ext-atte.palomaki@citycon.com
Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 3.7 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.
Citycon’s shares are listed on Nasdaq Helsinki Ltd.
www.citycon.com