ESG

For an ethical and sustainable development

Initiatives, procedures and information on actions taken by Next Re SIIQ with respect to environmental, social and governance criteria.

Our sustainability strategy

Learn, measure, and engage to drive better action

The Company’s strategy is founded on a thorough understanding of its real estate portfolio and on dialogue with its stakeholders.

In the real estate sphere, the two priority themes are energy efficiency and reducing the carbon footprint—objectives to be pursued by lowering energy consumption and transitioning to renewable energy sources, respectively.

Equal attention is devoted to improving the efficiency of other resources used in real estate, such as water and gas.

Monitoring the consumption of each asset is therefore the primary tool for defining an investment plan and a medium- to long-term strategy aimed at continuous improvements in energy efficiency.

The strategy may include a range of actions and measures, such as installing efficient lighting systems, insulating walls, upgrading heating and cooling systems, or replacing windows and frames.

In addition, continuous monitoring makes it possible to assess the actual results and the effectiveness of the actions and measures adopted, enabling any adjustments or improvements for subsequent investments.

Go to United Nations website

The Sustainable Development Goals, abbreviated as SDGs, consist of 17 points and 169 objectives identified by the United Nations in 2015, with a timeframe extending until 2030.

All United Nations member countries are therefore duty-bound to achieve all 17 SDGs, but the implementation will depend on various factors, including the commitment of civil society and businesses.

Next Re SIIQ responds to the UN's call to action to promote its business while protecting the planet and has therefore embarked on a path of gradual and consistent integration of ESG components into its corporate strategy and management practices.

The company's strategy is based on the selection and adoption of a set of 9 key objectives chosen from the 17 UN Sustainable Development Goals. For each of the selected objectives, specific relevant targets have been identified for the company, and specific actions have been defined for each of these targets. Next Re SIIQ is committed to monitoring progress towards these sustainability objectives and targets, identifying material issues and working towards the ongoing alignment of ESG issues with the overall company strategy.

The path toward sustainability

For several years, the Company has been pursuing the progressive and consistent integration of ESG factors into its strategy and management practices, in line with its corporate scale and approved business plans.

2020

Greater focus on sustainability and the resulting consideration of ESG factors in corporate decision-making.

2021

Green certification for properties within the real estate portfolio

2022

Drafting and approval of the first Sustainability Policy

2023

Start of energy consumption monitoring activities for buildings

2024

Re-establishment of the ESG Committee and update of the Sustainability Policy

2025

Update of the sustainability matrix according to the double materiality principle

Sustainability statement (EU & Italian law)

The Company does not fall within the size thresholds that require companies to prepare sustainability reporting under Legislative Decree No. 125/2024. Therefore, since Regulation (EU) 2022/2464 (the Corporate Sustainability Reporting Directive, CSRD) does not apply to NEXT RE, the Company is not obliged to provide such reporting.

Although not required to report, NEXT RE attaches great importance to sustainability matters, which are increasingly becoming an integral part of the Company’s strategy.

Sustainability governance

Ethics and procedures

NEXT RE adopted in 2009—and most recently updated in May 2024—the Organization, Management and Control Model (pursuant to Italian Legislative Decree No. 231 of 8 June 2001), together with the related Code of Ethics.

Since September 2022, the organization has had a dedicated sustainability policy designed to formalize and define guidelines, procedures, and corporate policies on sustainability. It is also ISO 9001:2025 certified.

The Board of Directors exercises strategic oversight on sustainability, in line with the Corporate Governance Code to which the Company adheres and with applicable regulatory and supervisory requirements.

The Company has established a dedicated technical committee to provide guidance, monitoring, and support to the Board of Directors on ESG matters. On 28 May 2024, the following members were appointed: the CFO, Ms. Francesca Rossi; Architect David D’Hallewin, as ESG Coordinator; and Dr. Alfredo Romano, as an external technical member specializing in ESG.

Stakeholder

NEXT RE’s stakeholders

The term “stakeholders” refers to the various parties that, in different ways, have an interest in the entity’s activities and performance and/or may be influenced by its decisions.

The Company is aware that only through active collaboration with its stakeholders can it achieve ambitious goals and create long-term sustainable value for the business and for all stakeholders.

The Company recognizes the importance of its stakeholders, whom it has clearly mapped, and is committed to engaging them actively so they can contribute to business development in a way that is sustainable for everyone.

To ensure compliance with applicable laws and regulations, the Company values the involvement of third parties such as regulators, public institutions, associations, and independent experts.

NEXT RE has identified seven key stakeholder groups, alongside the environment, which is treated as an “abstract” stakeholder and remains central to corporate decision-making. All stakeholders are involved to varying degrees in corporate decisions to help define a shared, successful strategy.

Stakeholder Engagement

Shareholders

Shareholders are primary stakeholders, as they actively help determine NEXT RE’s success. The management of NEXT RE is committed to providing shareholders with timely, high-quality information on the Company’s performance to support their decision-making.

To ensure effective shareholder engagement, over time the Board of Directors has undertaken several actions: establishing a structured, data-driven dialogue through Board or administrative functions; designing transparent, ongoing communication methods; and holding meetings to involve shareholders actively in the decision-making process.

The Company has also adopted a dedicated procedure titled “Policy for Managing Dialogue with Shareholders.” Effective engagement delivers multiple benefits: it increases shareholder trust and support, creating a more stable and collaborative environment; it improves corporate governance and accountability by ensuring greater transparency; it gathers valuable strategic input and feedback from shareholders, contributing to a more informed and participatory decision-making process; and it continuously aligns shareholder and corporate interests.

Effective shareholder engagement enables NEXT RE’s Board of Directors to manage relationships appropriately, increase transparency, and improve overall corporate performance. This approach not only strengthens NEXT RE’s market position but also fosters a more sustainable and responsible environment, in line with rising expectations from all stakeholders.

Human resources

Employees, members of the Board of Directors, together with contractors and advisors—especially important given the Company’s lean structure—are priority stakeholders whom the Company is committed to involving and developing. In line with the Sustainability Policy and in collaboration with other corporate functions, the ESG Committee promotes satisfaction surveys, one-to-one and group meetings, and training and professional development programs. The Company ensures equal opportunities and an optimal working environment for all employees, and monitors workforce composition by gender, age, roles, and remuneration. NEXT RE adheres to the Corporate Governance Code and complies with the two-fifths gender quota on both the Board of Directors and the Board of Statutory Auditors.

Tenants

Tenants are a central component of the real estate business. The Company is committed to maintaining strong relationships and communicating about investment progress, existing contracts, asset maintenance status, and planned actions. The real estate division promotes the sharing of needs and best practices, and gathers tenant feedback on material sustainability topics.

Suppliers

Choosing the right partners can make the difference for any business. NEXT RE is aware of the importance of supporting local small enterprises and the opportunities this creates for the communities where its properties are located. Local small businesses are the connective tissue of the economy, and supporting them can have a significant community impact. In its operations, NEXT RE therefore relies predominantly on local suppliers, who benefit from deeper knowledge of local markets and systems as well as differing regional regulations. The Company aims to monitor its suppliers’ approach to and level of sustainability integration to identify their policies and strategies in the short and medium/long term, and to support them where possible on their sustainability journey. To this end, a dedicated ESG questionnaire for suppliers has been designed.

Portfolio strategy

Making the right choices on investments and tenants

Investment selection

In selecting investments, NEXT RE prioritizes, where possible, properties or development projects with strong energy-efficiency performance, or those where such performance can be improved through redevelopment and value-enhancement measures.

NEXT RE applies exclusion criteria to certain asset types, including investments linked to potentially controversial economic activities, highly energy-intensive uses, or activities with negative impacts on the environment and communities—except where conversion and value enhancement are planned. For every investment, NEXT RE adopts a responsible approach based on the prior identification of current and potential risks that could hinder the achievement of the set ESG objectives. In parallel with evaluation and feasibility analyses, the Company undertakes dedicated sustainability assessments—calibrated to the nature of each investment—aimed at identifying and defining, among other aspects:

Respect for the environment and biodiversity;
Reduction of the environmental impacts of buildings, with consequent improvements in sourcing arrangements;
Improved waste management;
Ensuring the safety of the building and the materials used;
Ensuring the health and well-being of occupants;
Enhancing the quality of indoor spaces with ergonomic and inclusive solutions;
Improving the property’s contribution to occupant mobility;
Strengthening the building’s adaptability and capacity for transformation;
Improving the socio-economic impact of properties on surrounding communities.

Tenant selection and commercialization criteria

In marketing and leasing its spaces, NEXT RE applies—wherever possible—an exclusion policy for prospective tenants (natural persons or legal entities) engaged in activities not aligned with responsible investment principles, including but not limited to:

Manufacture and sale of weapons, tobacco, and polluting chemicals;
Activities involving the exploitation of workers or child labor;
Final criminal convictions for participation in mafia-type associations;
Final criminal convictions for fraudulent bankruptcy.

For future lease agreements, NEXT RE intends to introduce specific green clauses aimed at collecting data and information useful for reporting the environmental impacts of both the assets and the tenants.

Certifications

In line with NEXT RE’s sustainability pathway, the Company:
- has obtained BREEAM In-Use certification for each asset;
- is ISO 9001:2025 certified.

Documenti (italian)

Sustainability policy

15/09/2022

Policy

NEXT RE SIIQ S.p.A.

Company subject to the management and coordination of
CPI Property Group S.A.

Via Zara, n. 28 - 00198 Rome (Italy)
Share Capital € 63.264.527,93
VAT Number 00388570426

ESG