ESG Report 2022

Key earnings figures (in €m)
2022
Change
2021
2020
Total Output1
390.7
-17.0%
471.0
478.6
Revenue
133.9
-51.9%
278.3
183.3
Earnings before taxes
31.5
-47.6%
60.1
62.3
Net profit
27.1
-38.0%
43.7
40.8
Key asset and financial figures (in €m)
31.12.2022
Change
31.12.20218
31.12.20208
Total assets
1,451.8
-1.1%
1,467.8
1,345.4
Equity
501.4
-4.3%
524.0
456.2
Equity ratio
34.5%
-1.2 PP
35.7%
33.9%
Net debt2
500.2
31.3%
381.0
479.1
Cash and cash equivalents
322.9
-23.7%
423.3
247.2
Key share data and staff
31.12.2022
Change
31.12.2021
31.12.2020
Earnings per share (in €)3
2.25
-50.0%
4.50
4.39
Earnings per share incl. hybrid capital interest4
3.46
-38.8%
5.65
5.33
Share price (in €)
22.80
-47.3%
43.30
35.80
Market capitalisation (in €m)
170.4
-47.3%
323.5
267.5
Dividend per share (in €)5
1.10
-51.1%
2.25
2.20
Payout ratio %6
48.9%
-1.1 PP
50.0%
50.2%
Staff7
292
-17.7%
355
339
1	 Total Output corresponds to the revenue generated by fully consolidated companies and companies consolidated at equity as well as the sale 
proceeds from share deals, each in proportion to the stake held by UBM.
2	 Net debt equals current and non-current bonds and financial liabilities, excluding leasing liabilities, minus cash and cash equivalents.
3	 Earnings per share after the deduction of hybrid capital interest.
4	 Earnings per share before the deduction of hybrid capital interest.
5	 The dividend is paid in the following financial year but is based on the previous year’s net profit. 
The dividend proposal for 2022 is subject to the approval of the Annual General Meeting.
6	 Dividend in relation to earnings per share after deduction of hybrid capital interest.
7	 Excluding 72 employees from alba Bau | Projekt Management GmbH; the company was sold as of 30 June 2022.
8	 Key asset and financial figures restated as of 31 December 2021 and 31 December 2020 due to OePR finding. More information can be found in the consolidated 
financial statement.
Key performance indicators

Contents
1.  
UBM at a glance   
1.1. 
Our business model
1.2.  
Our activities
1.3.  
Value chain
1.4.  
Corporate and shareholder structure
1.5.  
Corporate governance
1.6.  
Economic indicators
2.  
UBM in detail
2.1.  
Environmental developer
2.2.  
Socially networked
2.3.  
Good management
3.  
UBM & Sustainability
3.1.  
Our strategy
3.2.  ESG organisation
3.3.  Stakeholder inclusion
3.4.  
Materiality analysis
3.5.  
ESG goals and measures
3.6.  Risk management
3.7.  
ESG reporting
3.8.  ESG ratings
3.9.  
Memberships
4.  
UBM & Environment
4.1. 
 Energy efﬁciency, renewable energies &  
CO2 emissions
4.2.   Recyclability & durability of building materials 
4.3.   Ground sealing, climate change adjustments  
and biodiversity
4.4.  
Refurbishment and revitalisation 
4.5.  Healthy building materials & the quality of life 
4.6.   Water and wastewater utilisation and waste  
in building operations
5.  
UBM & Social
5.1.  
Attractive employer & training and education 
5.2.  Diversity and equal opportunity 
5.3.  Health and safety
5.4.  
 Architecture, urban quarter development  
and social diversity 
5.5. 
Infrastructure and mobility 
5.6.  Customer orientation and awareness raising 
6.  
UBM & Governance  
6.1.  
Corporate governance & compliance
6.2.   Sustainable procurement &  
regional added value 
6.3.  Innovation & technologies 
7.  
Important information
7.1.  
About this report
7.2.  
GRI Index
7.3.  
Key indicators
7.4.  
Report on the independent assurance
7.5.  
Imprint

1

2
I N T R O D U C T I O N

Dear Shareholders,
Dear Stakeholders,
The cover of our ESG report – and the many happy faces on the photos – may be  
a surprise to many of our readers. Just what does all of this have to do with ESG?  
Our answer: A great deal. It stands for the “S“ in ESG or in “Social“ and, in this specific 
case, represents the warm and friendly get-together on UBM’s Family Day.
So, what exactly is a Family Day? It is a wonderful event where the children of UBM’s 
employees see where their parents work. And paint bird boxes – along with an office 
chair or two. But that’s no problem – it’s all part of our social competence. As an 
employer, we support the community, as a developer we create properties for  
generations to come, and as a company we want to be a good corporate citizen. 
Accepting responsibility for others and for society can also be a lot of fun.
The past year was, by far, not nearly as much fun – from an economic standpoint and 
also for the environment. We are, without doubt, at a turning point. This is true for our 
sector and also for global warming. 2022 was the second warmest year in Austria since 
the start of record-keeping. And UBM was, unfortunately, unable to deliver the same 
top results as in the past two crisis years. With after-tax earnings of 27 million euros, we 
generated an impressive plus but fell short of our expectations. However, our financial 
strength remains intact. We had over half a billion of equity at the end of the year and 
only half a billion of net debt. At the same time, we have far more than 300 million 
euros of cash at our disposal. That creates an advantage, not only from a business 
standpoint. We are in a position to drive our strategic transformation and become one 
of the leading timber construction developers in Europe. With timber construction,  
we are using the greatest lever available to us as a real estate developer to prevent 
CO2 emissions. And that is good for our climate. 
2023 also marks the 150th year of our founding. For more than 150 years, we have  
met the high transparency standards set by the Vienna Stock Exchange and have  
normally gone one step further. For example: This ESG report is audited by an  
independent chartered accountant, despite the fact that we are not even required  
to prepare a report. 
We would like to thank you for your interest in this future-oriented issue and hope  
we have been able to meet your information needs with this report.
Martin Löcker
COO
Thomas G. Winkler
CEO, Chairman
Patric Thate
CFO
Martina Maly-Gärtner
COO
GRI 2-22

4
Our strategy can be summarised in 
four words: green. smart. and more. 
That shows just how important 
sustainability is for UBM. It represents 
the focal point of all our actions. 
This report explains the various aspects 
of sustainability in connection with the 
Environment, Social and Governance.

5
1.  UBM at a glance
1.1. Our business model
1.2. Our activities
1.3. Value chain
1.4. Corporate and shareholder structure
1.5. Corporate governance
1.6. Economic indicators
U B M  A T  A  G L A N C E

6
U B M  A T  A  G L A N C E
1.1. Our business model. 	
	
	
	
	
Explained in brief. 
green. smart. and more. That summarises the strategy of UBM 
Development AG in four words. Explained in brief. Because 
anyone who plans for the future must develop buildings that 
are sustainable, intelligent and aesthetically appealing, where 
people feel well. 
We develop properties for Europe’s major cities. In line with 
our core strategy, the focus is on green building and smart 
office in metropolises like Vienna, Munich, Frankfurt and 
Prague. With 150 years of experience, UBM provides a full 
range of development services – from planning to marketing 
– from a single source.
Ecological and social aspects play an important role in every 
decision because our actions today design the working and 
living space of tomorrow. Platinum from EcoVadis, Prime Sta-
tus (B-) from ISS ESG, Grade B in the CDP rating and more 
than 35 green building certifications in recent years under-
score UBM’s commitment to sustainability.
The Covid-19 pandemic has significantly increased the pace 
of change in this area. Ecological and social sustainability are 
now the determining factors for our actions. UBM has been a 
member of the UN Global Compact since 2021, is committed 
to compliance with the UN Sustainable Development Goals 
and is an official supporter of the Task Force on Climate-re-
lated Financial Disclosures (TCFD).
UBM Development AG is listed in the prime market segment 
of the Vienna Stock Exchange and, as a result, meets the 
highest transparency standards. That not only means finan-
cial transparency but also includes the disclosure of all other 
aspects of our business model.
UBM’s corporate headquarters are located in Vienna, but 
its activities cover more than a dozen cities and metropol-
itan regions in five countries – Germany, Austria, the Czech 
Republic, Poland and the Netherlands. In many of these mar-
kets, UBM has been active as a real estate developer for many 
decades and has proven to be a reliable partner – not only for 
its customers, but also for the public authorities and financing 
banks.  GRI  2-1, 2-6
green. smart. and more.
T E A M  P E R F O R M A N C E  A L O N G  T H E  E N T I R E  V A L U E  C H A I N
Legal
Planning and 
engineering
Marketing
Project 
management
Financing

7
U B M  A T  A  G L A N C E
U B M  I N  E U R O P E
Properties for Europe’s metropolises.	
	
Sustainable, technologically and emotionally 
intelligent and with added value.
Vienna
Graz
Hamburg
Düsseldorf
Krakow
Katowice
Innsbruck
The Hague
Munich
Frankfurt
Berlin
Prague
Warsaw

8
U B M  A T  A  G L A N C E
1.2. 	Our activities 
UBM develops and sells real estate at top locations with 
added value potential. That is our DNA. With forward sales, 
we increase the momentum of our business. Selling a prop-
erty before completion means minimising the risk and setting 
a value for the sale which can be included in our account-
ing on a proportional basis during the construction period. 
Real estate development is our core expertise. This strategy 
guarantees a balance between profitability and risk. UBM’s 
investments are concentrated in markets and asset classes 
which, based on this balance, generate optimal added value 
for our investors over the medium to long term.
UBM acts as a “one-stop shop“. We offer all necessary services 
from a single source: market analysis, project development, 
planning and project management, financing, rental and 
sale. We can rely on a team of specialists with many years of 
professional experience who accompany processes from the 
initial project idea to transfer to the tenant or final investor. 
This know-how makes it possible to cover all stages of the 
real estate value chain in our own house.
UBM’s core business is real estate development with a focus 
on the residential and office asset classes. Based on the Total 
Output recorded in the individual countries during the past 
year, Germany was responsible for roughly 42%, Austria for 
29%, Poland for 12% and the other markets for 17%. The 
development pipeline in UBM’s core markets is also well-
filled for the future with €2.1bn by 2026. Our development 
projects are clearly focused on the residential segment at 
57%. The office segment covers 43%. 
The German-speaking countries form the regional focus: We 
develop more than half of our projects (57%) in Germany 
and 32% in Austria, followed by the Czech Republic (9%) 
and Poland (2%). The focal point of our future investments 
lies, above all, in top cities like Munich, Frankfurt, Berlin and 
Vienna.
For historical reasons, UBM holds properties with a total 
value of roughly €530m in its standing asset portfolio. These 
properties represent investments where the company cannot 
decide on a sale without the respective partner, or properties 
whose sale is not yet possible for other reasons like the cur-
rent market condition. UBM’s basic strategic focus, however, 
is that of a Pure Play Developer. Roughly 63% of the compa-
ny’s book value is attributable to development.  GRI 2-6
Every decision we make in connection with the development 
of a property has an impact on the global climate for the 
coming decades. It is a conviction that is also reflected in our 
green. smart. and more. strategy.
U B M  C O R E  C O M P E T E N C E
buy
sell with  
added value
develop

9
U B M  A T  A  G L A N C E
1.3. Competence and consequence 
	
along the value chain
Expertise along the entire value chain is also part of UBM‘s 
DNA, and sustainability is a central aspect. Because every 
decision we make in connection with the development of a 
property has an impact on the global climate for the com-
ing decades. A conviction that is also reflected in our green. 
smart. and more. strategy.
The first stage of the value chain is formed by the search 
for and evaluation of a location, followed by building per-
mit and zoning issues. The next step is the development and 
planning stage. After the necessary approvals are received 
and the financing is secured, construction begins. General 
contractors, individual companies or a combination of both 
serve as UBM’s partners.
UBM concentrates on realisation in the form of forward sales 
as early as the implementation phase. Due to UBM’s strate-
gic transformation into a Pure Play Developer, the properties 
are generally sold. The company also holds individual stand-
ing assets in its portfolio (36% of the total property carrying 
amount at year-end 2022) where UBM is responsible for asset 
management.
In line with the commitment to sustainability, the entire life-
cycle of a property is evaluated – for example: the planning 
phase can actively include possibilities for the later use of a 
building through refurbishment or opportunities to recycle 
materials in the event of demolition.
Quality and experience along the supply chain
As a Pure Play Developer, UBM works with a wide variety of 
service providers and suppliers. The main service providers 
are consultants, for example architects, building physicists, 
appraisers and structural engineers – in other words, repre-
sentatives of the different fields required for planning. The 
transfer of a project to realisation involves new partners: 
either a general contractor, individual companies or a com-
bination of both. Contractors and suppliers are organised for 
various management duties after completion. The overriding 
T H E  V A L U E  C H A I N
R
E A
L I
S
A T
I
O
N
O P
E R
A
T I
O
N S
  
  
  
  
C
O
N
C
E
P
T I
O
N
C
O
N
S T
R
U C
T I
O N
 Acquisition
Zoning / 
building rights
Planning
        Financing
Construction
Rental 
Sale 
Asset 
management
Approvals

10
U B M  A T  A  G L A N C E
principle: In the selection of its business partners, UBM places 
the highest priority on experience from earlier business 
relationships, integrity and appropriate qualifications. There 
were no significant changes in the supply chain during 2022. 
GRI 2-6
1.4. International presence and	
	
	
	
stable shareholder structure 
UBM Development and its subsidiaries have an efficient local 
network which guarantees competitive positioning in the 
individual markets. In addition to the headquarters of UBM 
Development AG in Vienna, the following operating subsid-
iaries are active in real estate development:
	
 UBM Development Deutschland GmbH (Germany)
	
 UBM Development Österreich GmbH (Austria)
	
 UBM Development Czechia s.r.o. (Czech Republic)
	
 UBM Development Polska sp.z o.o. (Poland)
	
 UBM Development Netherlands B.V. (Netherlands) 
There was one significant change in the organisation during 
2022: UBM Development AG sold its German project and 
construction management subsidiary, alba Bau | Projekt Man-
agement GmbH, as of 30 June 2022. alba generates nearly 
90% of its business with third parties and its activities no 
longer fit with UBM’s new strategic focus. With 75 employees, 
alba comprised 20% of the total UBM workforce.
The share capital of UBM Development AG remained 
unchanged at €22,416,540 as of 31 December 2022 and 
is divided into 7,472,180 shares. The syndicate comprising  
IGO Industries and the Strauss Group held an unchanged 
38.8% of the shares outstanding at year-end 2022. In addi-
tion, IGO Industries held 7.0% of UBM outside the syndicate. 
A further 5.0% were held by Jochen Dickinger, a private inves-
tor. Free float comprised 49.2% of the shares and included 
the 3.9% of the shares held by the Management and Supervi-
sory Boards. Most of the other free float was held by investors 
in Austria (74%) and Germany (13%).  GRI 2-1, 2-2, 2-9
1.5. Teamwork, also at the top
Cooperation is not only a guiding principle for UBM, but also 
a quality valued by top management. The four members of 
the Management Board – Thomas G. Winkler (CEO), Martin 
Löcker (COO), Patric Thate (CFO) and Martina Maly-Gärtner 
(COO) – are supported by the Executive Committee as an 
extended management body. 
The Executive Committee includes the four Management 
Board members and, at the present time, 18 selected country 
and specialist managers. This committee meets six to eight 
times each year to evaluate market trends and ensure con-
tinuous calibration. The members of the Executive Commit-
tee, in total, have invested approximately €5m in UBM shares 
and participate at 5% in an increase in the company’s value 
through stock options.
Sustainability is an issue for management. 
But not only.
The assignment of responsibilities proves that sustainabil-
ity plays a central role at UBM: Sustainability is a matter for 
management. The Management Board is responsible for the 
organisation of and compliance with sustainability issues. 
Thomas G. Winkler, the Chief Executive Officer, is in charge of 
the sustainability-relevant areas of strategy, investor relations 
& ESG, and compliance. Green building and timber construc-
tion report to Martin Löcker, while Patric Thate makes sure the 
financing turns “green“ and oversees the implementation of 
ESG data management. Employees and work safety are the 
responsibility of Martina Maly-Gärtner. The Executive Com-
mittee regularly deals with sustainability issues, especially in 
view of the new strategic focus on green. smart. and more.
In February 2021, UBM became one of the first listed com-
panies in Austria to establish an ESG Committee at Supervi-
sory Board level. The Supervisory Board, as the senior con-
trolling body, is now able to meet its responsibilities for the 
environment, society and governance through a separate 
committee. The ESG Committee deals with the analysis of 
sustainability criteria and social responsibility concepts in cor-

11
porate processes – in particular, it defines 
the most important ESG factors that are 
determined by the company’s sector affili-
ation and business model and are subject 
to regional influence. The ESG Committee 
monitors and supports activities in line with 
the ESG catalogue of measures based on 
the clear assignment of responsibilities 
at Management Board and Supervisory 
Board levels. It also supervises and eval-
uates the implemented ESG measures – 
above all, the impact of procurement and 
development processes on ecosystems, 
the use of resources, the direct and indi-
rect neighbourhood, and good corporate 
management.
The inclusion of ESG factors in the remu-
neration model will be evaluated in detail 
in the future: Plans call for the integration 
of key ESG performance indicators in man-
agement’s variable remuneration over 
the medium term. Further information on 
the Supervisory Board and Management 
Board is provided in the Annual Report for 
2022 under the Corporate Governance 
Report starting on page 94.
Shared values as the basis 
Many projects in many different countries – that requires 
a common understanding to make sure everyone pulls 
together. At UBM, this means a clear strategic focus and 
shared values. The foundation is created by a system of values 
that is based on three pillars: competent. consequent. trans-
parent. Specifically, that means: UBM stands for high techni-
cal competence, consequent actions and full transparency. 
GRI 2-9, 2-13, 2-19, 2-22
Based on these defined values, we have 
formulated the following binding goals:
one goal
stands for an increase in the value of the 
company.
one team
expresses the goal to grow even more  
together as a group.
one company
reflects the clear understanding to deal with  
the outside world as a single entity.

12
U B M  A T  A  G L A N C E
1.6. Financial performance indicators
The 2022 financial year was not an easy but, all the same, a 
successful period for UBM with after-tax profit of €27m. UBM 
made excellent progress towards its strategic goal to become 
the leading developer of timber construction projects in 
Europe. The timber-hybrid pipeline has grown to more than 
250,000 m2 in a very short time. A stable financial position 
with an equity ratio of over 34% and liquid funds of €323m 
leads UBM to look to the future with optimism.
Business development and earnings
UBM Development generated Total Output of €390.7m 
in 2022, compared with €471.0m in the previous year. Of 
this total, €263.6m represent revenue from property sales. 
The largest contributions came from the two core markets, 
Germany and Austria, with the forward sold F.A.Z. Tower in 
Frankfurt and sales from the Siebenbrunnengasse project in 
Vienna. Total Output for the reporting year was also influ-
enced by the progress of construction on previously sold real 
estate projects which is recognised in revenue and earnings 
over time in accordance with the percentage of completion 
and realisation. In this category, positive contributions to 
Total Output were made by residential construction projects 
like the Kaufmannshof (Mainz customs harbour), Gmunder 
Höfe (Munich), Arcus City (Prague) and Rankencity (Graz). 
Business performance in the Other segment was influenced 
primarily by the strategic divestment of the German project 
and construction management subsidiary, alba Bau | Projekt 
Management GmbH, as well as the sale of building rights 
for three sites in Vienna’s first district and the sale of the CTB 
Tower in Berlin.
Revenue as reported on the consolidated income statement 
fell by 51.9% to €133.9m (2021: €278.3m). The revenue 
growth in 2021 was supported chiefly by property sales in 
Germany and Austria and by the progress of construction 
on previously sold, fully consolidated real estate projects, 
while revenue in 2022 resulted mainly from lower contribu-
tions from fully consolidated real estate projects. The largest 
contributions to revenue were made by residential projects 
like the Siebenbrunnen in Austria and the Arcus City in the 
Czech Republic. The profit from companies accounted for at 
equity amounted to €25.4m (2021: €36.0m). At-equity results 
were based, above all, on ongoing forward sold real estate 
projects like the F.A.Z. Tower in Frankfurt, CTB in Berlin and 
the Kaufmannshof residential and office project in Mainz cus-
toms harbour. 
EBITDA fell by 48.5% to €39.2m in 2022 (2021: €75.9m). The 
most important effects in 2022 included sales from the Sie-
benbrunnengasse residential and office project, the sale of 
the CTB Tower project in Berlin and fair value adjustments to 
a large-scale project in Vienna. 
Depreciation and amortisation rose by 103.8% over the pre-
vious year to € 5.3m in 2022 (2021: €2.6m) and, as a result, 
EBIT declined by €39.4m to €33.9m (2021: €73.3m). Financial 
income rose from €14.0m in 2021 to €23.4m due to the sale 
of the German project and construction management sub-
sidiary alba Bau | Projekt Management GmbH. There were 
no material deviations in financial costs during 2022 or 2021.
EBT amounted to €31.5m in 2022, which represents a year-
on-year decline of €28.6m or 47.6% (2021: €60.1m). Tax 
expense equalled €4.3m, compared with €16.4m in 2021, 
and reflected a tax rate of 13.8% (2021: 27.3%). The lower 
tax rate in the reporting year resulted from the tax effects of 
equity-accounted results and the sale of alba Bau | Projekt 
Management GmbH.

13
U B M  A T  A  G L A N C E
Profit for the period (net profit after tax) totalled €27.1m, 
compared with €43.7m in 2021. Net profit attributable to the 
shareholders of the parent company amounted to €16.8m in 
2022 (2021: €33.6m). Beginning with the 2020 financial year, 
the calculation of net profit attributable to the shareholders of 
the parent company was changed to include a deduction for 
the share attributable to the hybrid capital holders. The share 
attributable to the hybrid capital holders rose from €8.6m to 
€9.1 million during the reporting year. The resulting earnings 
per share declined from €4.50 to €2.25 in 2022.
Asset and ﬁnancial position
Total assets recorded by the UBM Group amounted to 
€1,451.8m as of 31 December 2022 and were €16.0m lower 
than on 31 December 2021 (€1,467.8m). This decline resulted 
primarily from repayment of the hybrid capital.
Non-current assets declined by €23.1m to €790.6m at year-
end 2022. Property, plant and equipment totalled €12.2m 
as of 31 December 2022 and were slightly lower than the 
€12.9m reported as of 31 December 2021. This position con-
sists primarily of capitalised rights of use from leases.
The carrying amount of investment property declined by 
€31.8m to €391.7m as of 31 December 2022. In contrast, 
the investments in equity-accounted companies increased by 
€8.1m over the previous year to €180.8m. Project financing 
was €1.3m lower at €180.9m. 
Current assets totalled €661.2m at the end of 2022, for an 
increase of €7.1m over year-end 2021 which resulted mainly 
from a substantially higher balance of real estate invento-
ries. Cash and cash equivalents declined by €100.4m, among 
others due to prepayments for projects in Germany, the 
hybrid capital, the UBM bond 2017-2022 and dividends. As 
of 31 December 2022, cash and cash equivalents equalled 
€322.9m.
Equity totalled €501.4m as of 31 December 2022 (31 Decem-
ber 2021: €524.0m). The decline is explained, above all, by 
the dividend payment and by the repayment of profit partic-
ipation rights which are classified under equity. The dividend 
payment of €16.8m was made on 23 May 2022. The equity 
ratio equalled 34.5% at year-end 2022 and remained within 
the 30–35% target range (31 December 2021: 35.7%). 
Bond liabilities totalled (current and non-current) amounted 
to €446.7m at the end of December 2022 and were €79.8m 
lower than the previous year (31 December 2021: €526.5m). 
In November 2022, €80.9m of the UBM bond 2017-2022 was 
repaid.
Net debt totalled €500.2m at year-end 2022 (31 December 
2021: €381.0m). This indicator includes current and non-cur-
rent bonds and financial liabilities, excluding lease liabilities, 
less cash and cash equivalents. The increase resulted, above 
all, from distributions from equity-accounted companies, the 
sale of subsidiaries and a higher balance of financial liabilities 
as support for investments.  GRI 2-6

ESG excellence  
is one of our key success factors
Environmental, social and governance  
criteria are an essential part of our  
green. smart. and more. strategy.  
They are directly linked to our business  
objectives and, consequently, didn’t  
mysteriously appear from some kind  
of “parallel universe”. We believe that  
makes all the difference.

2.  UBM in detail
2.1. Environmental developer
2.2. Socially networked
2.3. Good management
U B M  I N  D E T A I L

16
We also see ourselves  
as an environment developer
grandchildren can be proud of, results that are completely 
and sustainably convincing. On the one hand, for the  
people who live and work in our buildings. And on the 
other hand, for the many customers and investors who rely 
on our expertise and clear focus on the future.   
Timber construction as a “game changer”   
The production of the concrete and steel used in a conven-
tional high-rise is responsible for no less than six per cent 
of worldwide CO2 emissions each year. That equals the 
total of all global air, sea and rail traffic combined. And that 
is also exactly where we see one of our greatest chances 
With our buildings, we develop living space for coming  
generations – and, in this way, also shape the environment 
of the future. That requires vision and special diligence.  
But it also allows us to design efficient and sustainable  
solutions for the construction and operation of our proper-
ties – competent. consequent. transparent.  
At UBM, we examine the ecological impact of our work in 
detail during every project phase. Resource conservation,  
energy efficiency, CO2 reduction, biodiversity and recyc- 
lability along the entire value chain are particularly  
important. After all, we want to produce results that our 
U B M  I N  D E T A I L

17
as a developer. Every time we use renewable and 
CO2-absorbing timber as a building material, we 
reduce the CO2 footprint of our buildings – and, in 
this way, slow global warming. 
This focus on timber construction represents a par-
adigm shift for UBM. We optimise all facets of our 
projects – up to even more resource conservation. 
Through a greater focus on the ecological selection 
of materials, better construction site logistics and a 
more sustainable lifecycle for our properties up to 
their dismantling and recycling. 
Timber Pioneer, Frankfurt. 
15,000 square metres
of rentable space in the 
booming Europaviertel.
The cradle-to-cradle 
principle ensures 
that used materials 
do not end up as 
waste but remain in 
the raw material cycle 
instead. For instance, 
the wood used in 
construction and 
the aluminium in the 
curtain wall can be 
reused or recycled in 
many different ways.
C R A D L E  T O  C R A D L E
G L O B A L  C O2  E M I S S I O N S
 
32%
Industry
32%
Industry
28%
Building 
operations
28%
Energy
38%
Building
 construction & 
operations
10%
Building 
construction
6%
(approx. 2bn t CO2) 
Concrete & steel
    4%
Other materials  
& energy
7%
Others
7%
Others
7%
Road freight
10%
Car traffic
23%
Traffic
62%
The production of the concrete 
and steel frequently used in the 
construction of a building is 
responsible for six per cent of all 
CO2 emissions worldwide. That 
equals the total of all global air, 
sea and rail traffic combined. 
6%
Other traffic
Building
Usage 
Construction
Raw Material
Dismantling

18
U B M  I N  D E T A I L
Timber Pioneer, Frankfurt. 
Lobby

19
70 per cent lighter, 40 per cent in the weight of the entire 
construction, nearly 50 per cent in construction time with 
prefabricated modules and an impressive 80 per cent in 
the CO2 footprint of the shell construction. And there is 
one more important benefit: The narrower wall construc-
tion in timber buildings results in three per cent more 
usable space over the same floor area. Timber as a build-
ing material also creates something that is nearly price-
less – a sustainable increase in well-being and health in 
apartments and offices, without any added expense. This 
is because timber, more than any other building material, 
conveys a sense of warmth and comfort. It is also a better 
regulator for room temperature and humidity. The thermal 
insulating properties are outstanding and, in connection 
with ecological building technologies, timber construction 
is an all-round healthy choice. 
Energy efficiency – also in operations 
Our project planning also covers operations that focus on 
energy conservation, wherever the location and construc-
tion permit. We utilise geothermal power with innovative 
heat pumps. And photovoltaic equipment generates low-
cost electricity, while intelligent lighting and indoor tem-
perature controls help to protect the environment and 
reduce costs.
Our pioneering work in Frankfurt 
UBM’s eight-storey landmark project in Frankfurt am Main 
is proof of the heights possible with timber. Our Timber 
Pioneer, with its roughly 15,000 m² of rentable space, is cur-
rently under construction in a booming quarter of this major 
city – and will become Frankfurt’s first timber hybrid office 
building. 
The timber hybrid construction is based on a modular  
system with prefabricated building components. The 
renewable building material timber and the efficient use 
of other products make the shell for all office floors climate 
neutral. Wood and concrete share the static load and are 
designed to conserve resources. The concrete elements are 
screwed together with glulam beams and supports to form 
a timber-concrete composite floor. 
The statistics on our Timber Pioneer are also impressive. 
Roughly 1,800 m³ of FSC-certified spruce will be used here 
– and will bind roughly 1,800 tonnes of CO2 in the build-
ing over the long term. The production of the same vol-
ume of cement alone would release 900 tonnes of CO2. 
This high-tech timber hybrid structure also produces fur-
ther enormous savings. Specifically: a reduction of almost 
one third in transport costs due to materials that are up to  
T I M B E R  R E M A I N S  I N  T H E  C Y C L E
1. Tree 
2. Timber 
Pioneer
3. Adaptive 
repurposing
4. 
Deconstruction
5. Downcycling
6. Thermal use
From tree to house …
 … and back 
again.
1. Tree: A tree stores an average of 10 kg 
CO2 per year.
2. Timber Pioneer: 1,800 cubic metres of timber  
are being used for the office building.  
This means that around 1,800t CO2 are stored 
in the prefabricated parts.
3. Adaptive repurposing: The building is designed 
to span several generations of use, and it can also 
be repurposed.
4. Deconstruction: The skeleton design allows 
Timber Pioneer to be deconstructed. 
The supports and beams made of glued laminated 
timber can be reused as building material for a 
new real estate project.
5. Downcycling: If the timber cannot be used as 
a building material after it has been deconstructed 
a second time, the next step is downcycling. The 
timber construction parts can be used for making 
furniture or in the production of chipboard.
6. Thermal use: The cycle is complete when the 
wood is composted or used thermally. Carbon  
stored in the wood is released back 
into the atmosphere as CO2. If the 
tree had remained in a forest, this 
would have happened much sooner.

20
20
Our greatest energy source is hidden far below 
Work on the LeopoldQuartier started at the end of 2022. The 
Austrian firm Beyond Carbon Energy is currently drilling 250 
geothermal probes to a depth of 150 metres, which will later 
support the independent generation of the entire energy 
required for heating and cooling the quarter. An impressive 
4,800 MWh of heating and cooling energy will then be pro-
duced CO2 free and locally each year. 
The first building on the agenda is the LeopoldQuartier 
Office. On ten floors – here we are also rising far beyond our 
own vision – it will have 21,500 m² of modern office space with  
flexible layouts, ideal room heights and the most efficient use 
of space. Construction is scheduled to start during the second 
quarter of 2023, and completion is planned for mid-2025.
The largest timber construction developer in Europe 
UBM has steadily increased its focus on timber construc-
tion since 2019. We are following a precisely defined agenda 
CO2-neutral European premiere in Vienna
Europe’s first urban quartier in timber construction is a 
UBM project. Close to the city centre in Vienna, we are 
developing the LeopoldQuartier entirely as a timber 
hybrid complex. UBM is creating offices, flats and ser-
viced apartments with 75,000 m² of gross floor space on 
five construction sites of this roughly 22,900 m² area in 
Vienna’s second district. Both the construction and oper-
ation of the individual buildings place a special focus on 
energy efficiency and the reduction of emissions. 
Our goal is to make the operation of the entire Leopold- 
Quartier CO2 free over the long term. Geothermal 
energy and photovoltaics will be used extensively to 
make sure “our” energy comes entirely from renewable 
sources. This technology will reduce CO2 emissions 
from the operation of the LeopoldQuartier by roughly 
330 tonnes each year compared with conventional 
solutions.

21
21
LeopoldQuartier, Vienna. 
Europe's first urban quarter in  
timber hybrid construction.
U B M  I N  D E T A I L
that is designed to make us one of 
Europe’s top timber construction 
developers. It is, consequently, only 
logical that our pipeline already 
contains a large number of diverse 
project in our core markets. 
In order to underscore the strate-
gic importance of timber construc-
tion, UBM established the Timber 
Construction centre of expertise 
with its five specialists. It is headed 
by Bernhard Egert, a well-known 
timber construction genius who is 
also an experienced builder, timber 
construction specialist, developer 
and court-certified expert. As the 
chairman of various groups in the 
Austrian Wood Industry Associa-
tion, his efforts have been directed towards strengthening the focus on timber 
construction. 
A comprehensive overview in the ESG cockpit 
The ESG cockpit is a state-of-the-art tool for easy and decentralised sustainabil-
ity management – and we use it throughout the entire company. This tool serves 
as the central point for the collection and management of all sustainability rel-
evant data and the calculation of the required ESG indicators. It supports the 
consolidation and preparation of environmental, social and governance data for 
UBM with the greatest flexibility and in accordance with all current international 
sustainability standards.
A clear graphic interface facilitates data input, and transparency is ensured by 
control mechanisms, plausibility checks and the definition of responsibilities. 
Flexible configuration and individually tailored analyses make UBM’s Group-
wide sustainability reporting much easier and more efficient. Special functions 
also facilitate the auditor’s work. In other words, the ESG cockpit has a wide 
range of internal and external advantages.              
R O A D M A P  T I M B E R  H Y B R I D  P R O J E C T S
Timber  
Pioneer
 
17,600 m2
Arcus 
City
 
7,000 m2
Leopold  
Quartier
 
75,700 m2
Timber  
Peak
 
9,500 m2
Timber  
Port
 
10,900 m2
Timber  
View
 
17,000 m2
Bogner  
Gründe
 
24,100 m2
Other
 
> 90,000 m2
> 250,000 m2 
Gross floor area
2027

22
UBM Climate Impact Day
In October 2022, UBM organised a day-long event for the 
entire workforce on climate change and climate protection 
under the motto “Learn, act, connect!”. This wide-ranging 
programme covered a livestream on the Glacier Climate 
Week with top-level keynote speakers as well as numerous 
internal activities. Included here were a fast-paced mobility 
challenge via bicycle or public transport, detailed insight 
into UBM’s ESG and green projects, a climate quiz and 
informative workshops on biodiversity and waste separa-
tion and prevention. 
True to the theme of climate protection, the Climate Impact 
Day was rounded off with a vegetarian lunch. 
Sustainable development activities demand much more 
than high technical expertise. They also need to have a social 
conscience and social commitment. At UBM, we are commit-
ted to making this part of everything we do – every day.
New work at UBM
All UBM Development employees have had a day off from 
work on every second Friday since 1 July 2022. That adds up 
to 26 more free days each year. This attractive “long week / 
short week” model has been implemented at all corporate 
locations. In addition, employees can work from home for 
two days per month. 
“The UBM New Work Model gives all of us more freedom 
and significantly improves the work-life balance. That 
doesn’t make office work or team spirit less important – it 
is strengthened instead," explains UBM COO Martina 
Maly-Gärtner, “and UBM also becomes a more attractive 
employer.”
Socially networked,  
with a close look at the big picture
U B M  I N  D E T A I L
Climate Impact Day 
A closer look at UBM’s  
ESG activities
Friday off 
Work-life balance
Climate Impact Day 
A “green“ event for 
over 200 colleagues

23
We are UBM Family 
Children visiting their parents at work is, unfortunately, not 
a frequent phenomenon. But it is nevertheless very impor-
tant. Seventeen children were recently able to see how 
and, above all, where mummy and daddy work in UBM’s 
Vienna headquarters. On the UBM Family Day and dur-
ing a tour of our offices, we saw some very excited faces. 
And we were also able to acquaint this younger genera-
tion with UBM’s commitment to sustainability. Our young  
visitors were able to build insect hotels and paint colour-
ful wooden bird boxes. A following grill event gave the  
children and their parents an opportunity to inaugurate 
the newly designed terrace. 
“My daughter was also delighted to see the cool offices. And 
she was excited to meet so many nice people,” notes UBM 
COO Martina Maly-Gärtner. “The Family Day was a success-
ful start to becoming more familiar with the entire UBM family 
– and we are already looking forward to the next event.” 
Welcome to UBM 
At the Welcome Day on 7 September 2022, the Manage-
ment Board greeted 28 new employees from UBM’s local 
organisations at the headquarters in Vienna.
“We wanted to welcome everyone personally and use this 
opportunity to directly anchor green. smart. and more. 
as our company’s DNA,” explains UBM COO Martina 
Maly-Gärtner. 
The “new arrivals” met at the headquarters. Team activities, 
expert lectures and a tour of our newly designed, state-of-
the-art meeting zone filled the eventful day. Presentations 
and a group lunch added further highlights to the UBM 
Welcome Day.
Sozialtag „Caritas am Himmel“ 
Projekt erfolgreich
Speed-Dating 
Welcome-Day
UBM Family Day 
Fun at mum‘s  
and dad’s office
UBM Family Day 
The boss's office

24
Weekly activities on the Danube Island included paddle 
tennis and beach volleyball. In the cooler months, our 
employees can take advantage of in-house fitness pro-
grammes or benefit from a subsidy for a fitness studio 
membership.
UBM social days for good purposes
With the UBM Social Day, we also gave our employees an 
extra day off in support of a good cause during 2022. An 
internal survey was started in April to identify a common 
project. The result was a decisive vote in favour of help-
ing refugees from Ukraine. The campaign launched by 
the Caritas Catholic charity with this same goal created 
an ideal framework for the UBM Social Day.
UBM breakfast
Under the title “one breakfast.”, interested employees had 
an opportunity to exchange ideas with the Management 
Board and country managers. A relaxed atmosphere over 
breakfast gave employees the chance to ask the questions 
that often remain unanswered during the daily work routine.
Keeping fit at UBM
UBM also demonstrated its athletic expertise at the annual 
Vienna Business Run in 2022. Nine sporty colleagues suc-
cessfully completed the 4.1-kilometre course and then met 
at the Prater Luftburg for refreshments, a chat and network-
ing. This restaurant is, incidentally, the world’s largest fully 
certified organic restaurant. 
U B M  I N  D E T A I L
Sterntalerhof 
Spende für das Kinderhospiz
Berliner Tafel 
Enthusiastic  
warehouse helpers
Caritas Vienna 
Help for war refugees
UBM Breakfast  
A personal meet and greet  
with the Management Board  
and management

25
Our team took charge of welcoming the numerous  
refugees, for example. UBM volunteers also helped out at 
the logistics centre for Ukraine assistance where every extra 
help was needed, not only at peak times. UBM’s support 
was met with great appreciation and gratitude, and emo-
tions that left a lasting impression on everyone involved. 
Other social projects followed in connection with the Cli-
mate Impact Day and included, among others, clean-up 
campaigns at the locations in Vienna, Prague and Frankfurt. 
Our colleagues in Berlin supported the “Berliner Tafel“ and 
the team in Frankfurt was involved in a programme for the 
children's organisation “Die Arche“.
UBM makes children’s dreams come true  
UBM supported the valuable work of the Make-A-Wish 
Foundation with a donation of 25,000 euros in 2022. The 
Make-A-Wish Foundation fulfils the wishes of severely ill 
children from three to 18 years of age and brings happiness, 
strength and new courage to the entire family. Make-A-Wish 
is active in more than 50 countries and has fulfilled over 
520,000 wishes since 1980. 
 
Hopes become reality 
Make A Wish donation
Vorarlberg 
Case study „green.“
Anti-waste campaign 
UBM‘s branch office in Prague
Anti-waste campaign 
UBM’s headquarters in Vienna

26
We place high demands on everything we do – from the 
quality of our development projects to our corporate man-
agement. Specifically, that means: At UBM, the G in ESG is 
also at the heart of our actions. We have installed an ESG 
Committee at Supervisory Board level to oversee and 
advise on sustainability criteria and ESG concepts for our 
entire group. With successful results, as is demonstrated 
time and time again.      
ESG ratings
UBM receives Prime Status from ISS ESG   
The pandemic and the war in Ukraine have never led us 
to question our focus on sustainability. At UBM, we are 
convinced that this strategy makes a great deal of sense, 
especially in politically and economically stormy times. And 
the further improvement of our ESG rating from the ISS ESG 
rating agency confirms this course. The B- rating verifies our 
Prime Status and even more clearly underscores our sector 
leadership in Germany and Austria.
UBM awarded Platinum by EcoVadis 
Gold from the first evaluation in 2021 was followed by Plat-
inum, the highest EcoVadis rating, for UBM Development 
in 2022. That places UBM among the top one per cent of 
the 100,000 companies ranked by EcoVadis worldwide. 
The evaluation covers the four most important sustainabil-
ity issues based on 21 indicators: the environment, labour 
and human rights, ethics and sustainable procurement. In 
all four categories, UBM Development clearly exceeded 
the sector average – not least due to the consistent pursuit 
of the ambitious goals and measures which we also exten-
sively communicate in this ESG report.
B for UBM in the CDP rating
The first rating by the non-profit organisation CDP resulted 
in a B rating for UBM as a reflection of its commitment to the 
fight against climate change. UBM voluntarily took part in 
CDP’s climate protection data reporting in 2022 and trans-
parently informed its stakeholders of its climate protection 
strategy and measures to reduce CO2 emissions. CDP is 
considered the worldwide gold standard of environmen-
tal reporting with the most comprehensive dataset on the 
environmental impact, risks and opportunities of corporate 
and city action. In 2022, more than 680 investors with assets 
of over 130 trillion US dollars prompted companies to dis-
close data over the CDP platform. This call was followed by 
a record-breaking 18,700 companies worldwide.
A well-managed company  
always makes a good impression 
U B M  I N  D E T A I L

27
Stock exchange
Award for UBM from the Vienna Stock Exchange
On 14 June 2022, UBM Development received the Vienna 
Stock Exchange’s Sustainability Prize as the most sustain- 
able company (category: "industrials") in Austria. This prize 
has been one of the most important awards given by the 
Austrian capital market since 2008. 
At the award ceremony in Palais Niederösterreich, UBM 
CEO Thomas G. Winkler made it clear that “Sustainability 
isn’t a trend at UBM, but rather an attitude. The Vienna Stock 
Exchange Award is a fine recognition of that.” 
This sought-after prize is also recognition of the uncom-
promising approach taken by UBM Development. In keep-
ing with our motto green. smart. and more., we develop 
ecologically balanced, intelligent and aesthetically appeal-
ing properties with sustainable advantages. 
The benchmark for sustainability on the Austrian stock 
market is the VÖNIX VBV Austrian Sustainability Index. 
“The VÖNIX was initially just an idea in 2005 but has  
come to be established practice,” explained Andreas 
Zakostelsky, Chairman of the VÖNIX Advisory Board. 
“Companies score with outstanding sustainability perfor-
mance in their sector, and in this way, receive top marks.” 
Vienna Stock Exchange CEO Christoph Boschan added: 
“The listed companies are Austria’s flagships in global 
competition, and this prize is recognition of their outstand-
ing developments.”
Rising high in the VÖNIX 
On Monday, 20 June 2022, the Vienna Stock Exchange, rfu 
and VBV-Vorsorgekasse announced the new composition of 
the VBV Austrian Sustainability Index (VÖNIX). The annual 
evaluation of entrepreneurial sustainability based on ecolog-
ical and social criteria confirmed that UBM Development AG 
had met the impressive benchmarks and is now a member. 
“UBM Development AG has shown continuous improve-
ment since the initial rating in 2018. Today the company is 
an experienced developer of green properties, above all in 
the residential and office segment,” commented Reinhard 
Friesenbichler, Managing Director of rfu, who is responsible 
for the sustainability rating.
“Sustainability is more important than ever today, and 
this is impressively demonstrated by the companies  
represented in the VÖNIX. As a sustainability pioneer, 
we at VBV-Vorsorgekasse are particularly pleased to wel-
come every new VÖNIX member. These companies show 
how the capital market can successfully support the 
transformation to a CO2-neutral future,” added Andreas  
Zakostelsky, Chairman of the VÖNIX Advisory Board and 
CEO of VBV-Vorsorgekasse.
Vienna  
Stock Exchange Prize 
Award ceremony
Vienna  
Stock Exchange Prize 
The trophy

28
High standards, strict criteria
The admission and inclusion criteria for the Vienna ESG Seg-
ment are based on the Green Bond Principles defined by 
the ICMA. In order to ensure compliance with the planned 
use of the proceeds, external reviews in accordance with 
international standards – among others, the Green Bond 
Principles – were prepared by independent institutions 
(so-called second-party opinion/certification/rating). 
ESG Champion at Sunrise Capital
A further ESG award in 2022 confirmed our sustainability 
orientation. The investors of Sunrise Capital honoured UBM 
Development AG with their “ESG Champion” sustainability 
prize for the real estate sector. 
Sunrise Capital is specialised in investment products and 
services for long-term-oriented private investors. More than 
20,000 local fund investors vote online on the sustainability 
of companies. Sunrise Capital’s ESG results are examined 
by a large number of informed observers and “democrati-
cally” evaluated in a sector-specific ranking. 
 
“Sustainability is at the heart of everything we do,” empha-
sised UBM CEO Thomas G. Winkler at the award ceremony, 
“and we are particularly pleased that this new generation of 
private investors also values our efforts.”
Member of Vienna’s ESG Segment 
Stock exchanges also play a vital role in the green transfor-
mation of our economy. All in all, they support and chan-
nel capital flows towards sustainable corporate activities. 
The Vienna Stock Exchange has established a separate, 
transparent ESG segment for securities issuers that cov-
ers sustainable bonds. It gives investors an opportunity to 
choose from selected financial instruments that promote 
the green transformation on the capital market. Bonds that 
are listed in a market regulated by the EU or the Vienna 
Stock Exchange can be admitted to the Vienna ESG Seg-
ment when the ESG admission or inclusion criteria are met. 
Investors in ESG-compliant bonds can also be certain that 
they are making a responsible and ecologically sustainable 
investment that is based on the United Nations' Sustaina-
ble Development Goals (SDGs). The regular disclosure and 
reporting on the use of the respective issue proceeds allow 
investors to make a qualified investment decision.
UBM is represented in the Vienna ESG Segment with its 
Sustainability-Linked Bond 2021-2026 (volume: 150 mil-
lion euros) and the Hybrid Bond 2021 (volume: 100 million 
euros). This focus on sustainability is linked to UBM’s commit-
ment to achieving and maintaining a high ESG rating. Failure 
to meet this target will 
result in an increase in 
the repayment amount 
of ten (bond) respec-
tively 15 (hybrid bond) 
basis points per year. 
UBM has already con-
verted a quarter of a 
billion euros on the 
capital market to green 
financing. In view of 
the total bond volume 
of roughly  600 million 
euros (as of 31 Decem-
ber 2022), this demon-
strates our radical new 
orientation.
U B M  I N  D E T A I L
Sunrise 
UBM is ESG 
Champion No. 1
www.ubm-development.com
green. smart. and more.
UBM Development
UBM Development entwickelt  
Immobilien für Europas Metropolen.  
Der strategische Fokus liegt auf  
Green Building und Smart Office in 
Großstädten wie Wien, Berlin, München 
oder Prag. Die Aktien notieren im  
prime market der Wiener Börse,  
wodurch höchste Transparenzstandards 
gewährleistet sind. Die disziplinierte  
Finanzpolitik sowie konsequente 
Risikominimierung machen das  
Unternehmen seit Jahren zu einem
erfolgreichen Anleiheemittenten.
Umtauschfrist: 27.04.– 07.05.2021
(für Umtausch der UBM-Anleihe 2017-2022)
Zeichnungsfrist: 11.05.–17.05.2021
ISIN: AT0000A2QS11
F.A.Z. Tower
Frankfurt am Main
WERBUNG
Umtausch: 
27.04.–07.05. 
Zeichnung: 
11.05.–17.05. 
3,125 %
Sustainability-Linked
UBM-Bond 2021-2026
Werbung im Sinne der Verordnung (EU) 2017/1129 („Prospektverordnung“) und der Delegierten Verordnung (EU) 2019/979. 
Bei dieser Mitteilung handelt es sich weder um einen Wertpapierprospekt noch um ein Angebot zum Verkauf oder um eine Aufforderung zur Abgabe eines Angebots 
zum Kauf von Teilschuldverschreibungen (die „Teilschuldverschreibungen“) der UBM Development AG („UBM“ oder die „Emittentin“). Diese Mitteilung stellt weder eine 
Finanzanalyse in Bezug auf Finanzinstrumente, noch eine auf Finanzinstrumente bezogene Anlageberatung oder eine auf Finanzinstrumente bezogene Empfehlung dar.  
Ein öffentliches prospektpflichtiges Angebot von Teilschuldverschreibungen der UBM erfolgt ausschließlich in Österreich, Deutschland und Luxemburg (das „Angebot“) 
an dort ansässige Anleger auf Grundlage eines gemäß Prospektverordnung erstellten Wertpapierprospekts, einschließlich allfälliger Nachträge dazu (zusammen der 
„Prospekt“), der von der Österreichischen Finanzmarktaufsichtsbehörde gebilligt, in der vorgesehenen Weise veröffentlicht und nach Deutschland und Luxemburg notifiziert 
wurde. Die Billigung des Prospekts ist nicht als Befürwortung der angebotenen Teilschuldverschreibungen zu verstehen. Der Prospekt, einschließlich allfälliger Nachträge, 
wurde in elektronischer Form auf der Internetseite der Emittentin, unter www.ubm-development.com, Submenü „investor relations.“, Unterpunkt „anleihen.“, veröffentlicht 
und ist unter https://www.ubm-development.com/de/disclaimer/?dis=8176&plng=de in elektronischer Form abrufbar und einsehbar sowie am Sitz der Emittentin, 
Laaer-Berg-Straße 43, 1100 Wien, kostenlos erhältlich. Im Zusammenhang mit dem Angebot der Teilschuldverschreibungen sind ausschließlich die Angaben im Prospekt, 
einschließlich allfälliger Nachträge dazu, verbindlich, die Angaben dieser Werbemitteilung sind unverbindlich. Anleger sollten sich daher vor ihrer Anlageentscheidung 
mit dem Inhalt des Prospekts, einschließlich allfälliger Nachträge, vertraut machen, insbesondere mit den Hinweisen auf Risiken, Steuern und Interessenkonflikte, um die 
potenziellen Risiken und Chancen der Investitionsentscheidung vollends zu verstehen und sich persönlich unter Berücksichtigung ihrer persönlichen Vermögens- und 
Anlagesituation eingehend beraten lassen. Eine Veranlagung in Teilschuldverschreibungen unterliegt Risiken. Anleger tragen das Bonitätsrisiko der Emittentin. Im Insolvenz- 
und/oder Liquidationsfall der Emittentin können auf Zinsen und/oder Kapital zahlbare Beträge geringer sein; auch ein Totalverlust des eingesetzten Kapitals ist in diesen 
Fällen möglich. Ein Basisinformationsdokument gemäß VO (EU) 1286/2014 wurde erstellt und ist auf der Internetseite der UBM Development, Investor Relations, Subseite 
https://www.ubm-development.com/de/disclaimer/?dis=8176&plng=de kostenlos erhältlich.

29
29
The sustainability focus 
includes UBM’s commitment 
to reach a speciﬁc  
ESG rating threshold.

UBM has anchored the relevance 
of ESG in its corporate strategy through 
the focus on green. smart. and more.  
and is introducing concrete measures.

31
U B M  &  S U S T A I N A B I L I T Y
3.  
UBM & Sustainability 
 
3.1.  
Our strategy
3.2.  
ESG organisation
3.3.  
Stakeholder inclusion
3.4.  
Materiality analysis
3.5.  
ESG goals and measures
3.6.  
Risk management
3.7.  
ESG reporting
3.8.  
ESG ratings
3.9.  
Memberships

32
U B M  &  S U S T A I N A B I L I T Y
3.1. Our strategy
Protecting the future viability of our planet is one of the 
most important social responsibilities of our time. With the 
announcement of the Green Deal, the European Union under-
scored its intention to make Europe the first climate-neutral 
continent in the world by 2050. Other megatrends aside from 
ecology are urbanisation and the transformation of society 
caused by demographic and social changes. 
“Silver Society“ is a term that describes the ageing of society, 
in which health and the quality of life will be deeply anchored 
as fundamental values in our consciousness. Changing gen-
der roles and the breakdown of stereotypes have also led 
to radical changes in society and the business sector. These 
developments, together with Covid-19, are the decisive fac-
tors for the megatrend New Work – meaning people’s needs 
as regards their working world.
We see these trends not only as a challenge but also as an 
opportunity: The interaction with ESG is a key success factor 
for our entrepreneurial activities. In the sense of ecological 
sustainability, UBM aims to become one of the leading tim-
ber construction developers in Europe. Our actions today 
are already focused on smart, low-barrier or barrier-free, flex-
ible living and working to also meet the needs of tomorrow’s 
users. As a real estate developer, we can give the office new 
meaning as a communication and collaboration platform – 
the physical workplace then becomes a place for community 
and corporate culture. As an employer, we also take advan-
tage of these opportunities – for example, by benefitting from 
the additional innovation potential created by a diverse work-
force.
UBM has anchored the relevance of ESG in its corporate strat-
egy through the focus on green. smart. and more. and is intro-
ducing specific accompanying measures. The efficient use of 
resources is an integral part of ongoing operations, as are 
social issues and adherence to compliance rules. UBM’s flag-
ship projects, green building certifications and the activities 
evolving from the green. smart. and more. strategy reflect the 
requirements of the EU and create new opportunities for UBM.
 
 
green. stands for measures in support of greening, meaning 
the redirection of the economy in line with the environment. 
Our primary focus is on timber construction as well as renew-
able energies and green building certification.
smart. expresses our commitment to intelligent buildings. 
With the use of sensors and automation, buildings can be 
adapted to meet the needs of users and, at the same time, 
operations can be made more efficient.
and more. means we tell stories with our buildings. This 
involves aesthetics, well-being and customer experience – a 
“more“ that is perceptible all over.
Our sustainability activities are based on the applicable 
rules and regulations in the countries where we are active. 
For example: government programmes in the countries rel-
evant for UBM cover issues like the expansion of renewable 
energy, efficient energy consumption, subsidy programmes 
for environmentally friendly behaviour and the strengthening 
of fundamental and human rights, especially in the supply 
chain. An additional framework is provided by national and 
supranational norms and standards, including the UN Global 
Compact, Sustainable Development Goals (SDGs), the EU 
Green Deal and the EU Taxonomy. We have implemented – 
and regularly evaluate and improve – the necessary processes 
to realise our ESG goals and related measures. Information 
on our 360° process landscape and measures is provided in 
the following sections of this report.
Leading worldwide ESG rating agencies have confirmed 
UBM’s strong position on sustainability. Additional informa-
tion can be found in section 3.8.  GRI 2-23, 2-24 
Living sustainability.

33
U B M  &  S U S T A I N A B I L I T Y
[Grafische Gestaltung 12 Hauptziele tbd]
Reduction of CO2 
intensity of completed 
projects by 30% by 
2030
Reduction of CO2 
by 30%
E N V I R O N M E N T
S O C I A L
G O V E R N A N C E
Over 100,000 m²  
in timber construction 
by 2025
Obtain green building 
certiﬁcation for 100% 
of new developments
Share of brownﬁeld 
developments in  
new projects over  
66% by 2025
Increase the share  
of renewable energy 
in energy carriers to 
30% by 2025
(Standing assets and  
corporate  locations)
Double the number  
of vehicles with  
alternative drives  
by 2025 
Timber  
construction
Green building  
certiﬁcation
Minimise  
employee turnover
Hold employee  
turnover below  
12.5% by 2025
Annual ESG  
awareness training  
for all employees
Increase percentage 
of women in manage-
ment positions to over 
30% by 2025
Over 30% women  
in management positions
Yearly  
ESG training
Brownﬁeld  
development
Increase  
in renewable energy
Vehicles  
with alternative drives
Voluntary external 
audit of ESG reporting 
Carry out KYC reviews 
of new business  
partners and  
conﬁrm binding  
code of conduct 
Conﬁrm code  
of conduct in writing 
with all employees 
Voluntary  
external ESG audit
Code of conduct  
for business partners
Code of conduct  
for employees
ESG goals at a glance

34
U B M  &  S U S T A I N A B I L I T Y
3.2. The implementation:	
	
	
	
	
organisation & governance
Together with our green. smart. and more. corporate strategy, 
we have anchored ESG goals throughout the entire corpo-
ration. We see the transformation of our conviction into con-
crete actions as the shared responsibility of all employees. 
Only when everyone knows and supports our internal ESG 
goals can ESG become part of our everyday life and have a 
lasting effect.
The organisation of and compliance with sustainability issues 
is anchored at Management Board level. Thomas G. Winkler, 
the Chief Executive Officer, is in charge of the sustainabil- 
ity-relevant areas of strategy, investor relations & ESG as well 
as legal & compliance. Green building and timber construc-
tion report to Martin Löcker, while Patric Thate makes sure the 
financing turns “green“ and reliable ESG data management 
becomes reality. Employees and work safety are the respon-
sibility of Martina Maly-Gärtner. 
The Management Board and Executive Committee, together 
with the heads of the involved specialist departments, are 
responsible for the implementation of ESG activities. The rel-
evance of the sustainability strategy and goals is evaluated 
at regular intervals and suitable goal attainment measures 
are defined. The Executive Committee frequently deals with 
sustainability issues, especially in view of the new strategic 
focus on green. smart. and more. The Management Board 
is included in central decisions and receives routine reports 
on progress.
With the help of an RACI matrix (Responsible, Accountable, 
Consulted, Informed), the roles and responsibilities for ESG 
were transparently defined and recorded. The investor rela-
tions & ESG department coordinates sustainability issues 
within the framework of UBM‘s strategy and business model 
and is in charge of operative ESG reporting together with 
the organisation of ESG ratings. Its activities include the 
further development of the sustainability strategy, the defi-
nition and monitoring of goals, and the implementation of 
measures together with selected specialist departments. This 
department is also responsible for monitoring changes in 
the legal framework and serves as an information interface 
for the company. The head of investor relations & ESG and 
the Management Board communicate regularly on current 
developments and issues.
The specialist departments and countries are responsible 
for managing and implementing sustainability issues. These 
employees become involved and implement the defined 
measures as part of their regular day-to-day operations and 
in pilot projects.
Corporate Governance
The UBM Supervisory Board is composed of members elected 
by the Annual General Meeting. In addition, the Works Coun-
cil is authorised by Section 110 Para. 1 of the Austrian Labour 
Constitutional Act to delegate a specific number of members 
to the Supervisory Board. The Annual General Meeting can 
recall a Supervisory Board member before the end of his 
or her term with a resolution based on a simple majority of 
the votes cast. The Supervisory Board elects a chairperson 
and one or more deputies from among its members each 
year at a meeting held after the Annual General Meeting. 
The Supervisory Board can form committees from among its 
members, which can be established as permanent bodies or 
for individual tasks.
In 2022, the Supervisory Board had eight members elected 
by the Annual General Meeting plus four additional members 
designated by the Works Council as employee representa-
tives. The table on the following page shows the members 
elected to the Supervisory Board in 2019. As of 31 December 
2022, the members of UBM’s Supervisory Board held addi-
tional positions on supervisory boards or exercised compa-
rable functions in Austrian and foreign companies (which are 
not included in the consolidated financial statements). These 
positions are also listed in the table on the following page.

35
U B M  &  S U S T A I N A B I L I T Y
Members of the Supervisory Board
Name
Date of birth
Gender
Position
Member since
Appointed until
Karl-Heinz Strauss1
27.11.1960
male
Chairman
14.4.2011
AGM 2024
Iris Ortner2
31.8.1974
female
Deputy Chair
14.4.2011
AGM 2024
Susanne Weiss3
15.4.1961
female
Member
15.1.2015
AGM 2024
Klaus Ortner4
26.6.1944
male
Member
15.1.2015
AGM 2024
Ludwig Steinbauer3
26.10.1965
male
Member
15.1.2015
AGM 2024
Paul Unterluggauer
28.4.1967
male
Member
15.1.2015
AGM 2024
Bernhard Vanas3
10.7.1954
male
Member
15.1.2015
AGM 2024
Birgit Wagner3
9.1.1972
female
Member
29.5.2019
AGM 2024
Anke Duchow
19.1.1968
female
Member
27.5.2019
n/a5
Martin Mann
14.2.1972
male
Member
30.6.2016
n/a5
Hannes Muster
28.11.1967
male
Member
30.6.2016
n/a5
Günter Schnötzinger
20.8.1973
male
Member
30.6.2016
n/a5
1	 Karl-Heinz Strauss was Deputy Chairman of the Supervisory Board from 27 February 2013 until 18 September 2014 and has been Chairman since 18 September 2014.
2	 Iris Ortner has been Deputy Chairwoman of the Supervisory Board since 18 September 2014 and previously served as a member of the Supervisory Board from  
2 July 2003 to 5 May 2010.
3	 Independent member who does not hold more than 10% of the shares (C-Rule 54).
4	 Klaus Ortner was previously a member of the Supervisory Board from 18 March 2000 to 14 May 2014.
5	 Appointed by the Works Council on 30 June 2016 as well as on 27 May 2019 in accordance with Section 110 Paragraph 1 of the Austrian  Labour Constitutional Act.
Additional functions of the Supervisory Board members
Name
Company
Function
Karl-Heinz Strauss 
 
PORR Bau GmbH 
PORR GmbH & Co. KGaA 
PORR SUISSE AG
Chairman of the Supervisory Board 
Chairman of the Supervisory Board 
President of the Administrative Board
Iris Ortner 
 
 
 
 
ELIN GmbH  
PORR AG1  
ÖBAG 
Liechtensteinische Landesbank (Österreich) AG 
TKT Engineering Sp. z.o.o. (Poland) 
Blue Code International AG (Switzerland)
Chairwoman of the Supervisory Board 
Supervisory Board member 
Supervisory Board member  
Supervisory Board member 
Deputy Chairwoman of the Supervisory Board 
Supervisory Board member
Susanne Weiss 
 
 
ROFA AG 
PORR AG1 
Wacker Chemie AG1 
Spielvereinigung Unterhaching Fußball GmbH & Co. KGaA
Chairwoman of the Supervisory Board 
Supervisory Board member 
Supervisory Board member 
Supervisory Board member
Klaus Ortner 
ELIN GmbH  
PORR AG1 
Supervisory Board member 
Deputy Chairman of the Supervisory Board
Ludwig Steinbauer
Klinikum Austria Gesundheitsgruppe GmbH
Supervisory Board member 
Paul Unterluggauer
ELIN GmbH
Deputy Chairman of the Supervisory Board
Bernhard Vanas 
 
 
 
PORR AG1 
Wolfgang Denzel Holding AG 
Bankhaus Denzel AG 
Wolfgang Denzel AG 
Wolfgang Denzel Auto AG
Supervisory Board member 
Supervisory Board member
Supervisory Board member 
Supervisory Board member 
Supervisory Board member
1	 Listed

36
U B M  &  S U S T A I N A B I L I T Y
The chair of the Supervisory Board does not hold a senior 
executive function in the UBM Group. In accordance with the 
criteria based on C-Rule 53 of the Austrian Code of Corporate 
Governance, the following Supervisory Board members have 
declared themselves independent: Karl-Heinz Strauss (Chair-
man), Birgit Wagner, Ludwig Steinbauer, Bernhard Vanas and 
Susanne Weis.
In accordance with C-Rule 36 of the Austrian Code of Cor-
porate Governance, the Supervisory Board also conducted 
a self-evaluation during 2022. The questionnaire used for 
the evaluation addressed, in particular, the efficiency of the 
Supervisory Board, its organisation and its working proce-
dures. The findings were evaluated and discussed by the 
Supervisory Board.
To support and ensure the efficient handling of complex 
issues, the Audit Committee, Nomination Committee and 
Remuneration Committee were active in 2022. Additionally, 
UBM became one of the first listed companies in Austria to 
establish an ESG committee at Supervisory Board level in 
2021. 
The Supervisory Board, as the senior controlling body, now 
meets its responsibilities for the environment, society and 
governance through a separate committee. The members 
of the ESG Committee and their positions are listed in the 
following table. The chairperson was elected by the commit-
tee members.
Members of the ESG Committee
Name
Position
Iris Ortner
Chairwoman
Susanne Weiss
Deputy Chairwoman
Birgit Wagner
Member
Anke Duchow
Member
The activities of the ESG Committee include the analysis of 
sustainability criteria and corporate social responsibility con-
cepts in group processes – in particular, identifying the key 
environmental, social and governance factors (ESG) that are 
determined by the company’s sector affiliation and business 
model, and are subject to regional influence. 
The ESG Committee is also responsible for overseeing and 
supporting actions in line with the ESG catalogue of meas-
ures based on the clear assignment of responsibilities at Man-
agement Board and Supervisory Board levels. It additionally 
monitors and evaluates the implemented ESG measures – 
above all, the impact of procurement and development pro-
cesses on ecosystems, the use of resources, the direct and 
indirect neighbourhood, and good corporate management.
The Supervisory Board finalised the remuneration policy in 
2020 based on preparations by the Remuneration Committee 
and revised this policy in 2022. The Supervisory Board is enti-
tled to deviate from this remuneration policy when required 
by extraordinary circumstances (material changes in the legal, 
economic or political environment). Any such deviation must 
be followed by the presentation of a new remuneration policy 
to the next Annual General Meeting. The remuneration for 
the members of the UBM Management Board implements 
the remuneration policy in accordance with legal regulations 
and consists of non-performance-related components (fixed 
salary, pension fund/employee welfare fund contributions), 
performance-related components (variable performance 
bonus) and one-off payments as well as severance compen-
sation for departing members. 
The variable, performance-based remuneration components 
are designed to reflect shareholders‘ interests in the positive 
development of the company and increase the Management 
Board‘s motivation to take actions which lead to the sustain- 
able, long-term and risk-aware optimisation of Group results. 
Annual variable remuneration is dependent on the attain-
ment of parameters set by the Supervisory Board, which are 
based on financial or non-financial criteria or a combination 
of both. The fixed salary of each Management Board member 
is based on seniority, experience and the length of service

37
U B M  &  S U S T A I N A B I L I T Y
with the company as well as inclusion in the Management 
Board. Each Management Board member receives variable 
remuneration equalling a maximum of 60% of total remuner-
ation for the Management Board when the individual finan-
cial targets are met. For each member of the Management 
Board, an appropriate contribution (based on earlier and 
current contributions) can be made to a pension fund. D&O 
liability insurance was contracted to cover the members of 
the Management Board, whereby the costs are carried by 
the company. UBM introduced a stock option programme 
for key managers and the Management Board in 2017; this 
programme was extended in 2021.
The Remuneration Committee is responsible for the follow-
ing duties in connection with the current remuneration policy 
and in accordance with applicable legal regulations: (i) mat-
ters related to the remuneration of the Management Board 
members and the content of their employment contracts, in 
particular the definition and implementation of the under-
lying principles for the remuneration of the Management 
Board members and the criteria for the variable remuneration 
components in line with Rules 27 (above all, the preparation 
of a catalogue for the variable remuneration components), 
27a and 28 of the Austrian Code of Corporate Governance; 
(ii) evaluating the remuneration policy for the Management 
Board members at regular intervals; (iii) approving the 
assumption of sideline activities by the Management Board 
members. The Remuneration Committee held two meetings 
during the reporting year. Consultations at the meeting on 
21 March 2022 included the determination of the annual 
bonus for the members of the Management Board and the 
approval of the remuneration report and a proposal to the 
141st Annual General Meeting to amend the remuneration 
policy. 
At the meeting on 22 September 2022, an index adjustment 
to the annual maximum total remuneration (fixed and variable 
remuneration) for the members of the Management Board 
was approved. The members of the Remuneration Commit-
tee are Karl-Heinz Strauss (Chairman), Iris Ortner and Susanne 
Weiss (remuneration expert). The Chairman and one of the 
two other members have declared themselves independent. 
External consultants are not involved in determining remu-
neration.
The integration of ESG in the remuneration model will be 
analysed in detail: ESG key performance indicators will be 
integrated in management‘s variable remuneration over the 
medium term.
Each Supervisory Board member receives an annual payment 
for his or her services as well as reimbursement of expenses 
and an attendance fee for each meeting. The amount of the 
attendance fee and the annual payment are determined by 
the Annual General Meeting. A resolution by the Annual 
General Meeting on 29 May 2019 established the following 
remuneration for members of the Supervisory Board: the 
chairperson of the Supervisory Board receives fixed remu-
neration of €50,000.00 per year, the deputy chairperson fixed 
remuneration of €40,000.00 per year and the other members 
fixed remuneration of €30,000.00 per year. The attendance 
fee for meetings was set at €2,000.00 per meeting of the 
Supervisory Board or one of its committees. The Supervisory 
Board members appointed by the Works Council in accor-
dance with Section 110 Para. 1 of the Austrian Labour Consti-
tutional Act do not receive any additional payment for their 
work on the Supervisory Board.  GRI 2-9, 2-10, 2-11, 2-12, 2-13, 
2-15, 2-17, 2-18, 2-19, 2-20, 2-24
3.3. This is how we include stakeholders
Regular contact with our internal and external stakehold-
ers and their active inclusion in our business activities is an 
essential part of what we do – above all, because we have an 
influence on many areas of life as a project developer. The 
fulfilment of our social and ecological responsibility as well 
as UBM’s long-term economic success is based on success-
ful cooperation with a wide variety of stakeholders and the 
respectful handling of their concerns.
In this connection, we carried out another materiality analysis 
during the 2021 financial year. A structured, methodical pro-
cess allowed external stakeholders to contribute their views

38
U B M  &  S U S T A I N A B I L I T Y
and express their concerns. Roughly 700 women and men 
from 12 pre-defined stakeholder groups were invited to take 
part in an online survey – 208 evaluable results were received 
and integrated into the materiality analysis. 
Based on the responses from these stakeholder groups, the 
major issues were identified, structured and evaluated. The 
results are presented in the form of a materiality matrix (see 
section 3.4.).  
We also include significant stakeholder groups through early 
information, participation and co-determination in planning 
and development processes, which give neighbouring resi-
dents an opportunity to explain their needs and interests and 
influence results. This practice has been embedded in the 
process landscape as UBM’s standard since 2021. Additional 
information can be found in section 5.
Our stakeholder dialogue uses, among others, the instru-
ments listed on the following page.  GRI 2-29
Real estate 
investors
General contractors, individual  
companies for construction phase
Capital market 
participants
Employees
Media
Competitors
Executive 
management
Research & 
development
Analysts /  
Rating agencies
Real estate agents  
and consultants
 
 
 
Supervisory 
Board
Others
 
 
 
S T A K E H O L D E R  G R O U P S  S U R V E Y E D

39
U B M  &  S U S T A I N A B I L I T Y
Stakeholder dialogue  GRI 2-29
Stakeholder group
Interests & expectations
Dialogue forms
Employees
	
 Attractive workplace
	
 Professional and personal development
	
 Support for work-life balance
	
 Workplace safety and health
	
 Communication via intranet, newsletter, 
video streams, social media posts
	
 Annual employee appraisals
	
 Various events and initiatives  
(e. g. UBM Day, Climate Impact Day),  
to promote communication
	
 Ethics code
Users/End customers
	
 Information and transparency over 
properties
	
 High-quality and durable properties
	
 Regular contact with the project  
managers
	
 Website, press releases, newsletter, 
social media posts
Capital market participants
	
 Transparent reporting on corporate 
strategy, implementation and target 
attainment 
	
 Information on forecasts, risk and  
opportunity analyses
	
 Sustainable corporate performance
	
 Personal discussions
	
 Press reports and announcements 
	
 Website, newsletter, social media posts
	
 Roadshows
	
 Annual General Meeting
	
 Reports, e.g. annual report and  
ESG report
Supervisory Board
	
 Sustainable corporate performance
	
 Transparent reporting on corporate 
strategy, implementation and target 
attainment
	
 Supervisory Board meetings
	
 ESG Committee meetings
	
 Reports, e.g. annual report and  
ESG report
Business partners & suppliers
	
 Fair business relations and good  
cooperation basis 
	
 Shared values
	
 Tenders and contract negotiations
	
 Regular contacts during order  
execution 
	
 Code of conduct
Interest groups
	
 Definition of and support for shared 
values 
	
 Support for solutions to adapt to  
climate change and other ecological 
and social challenges
	
 Proactive exchange and further  
development with the sector for  
social responsibility/ESG
	
 Membership and active participation  
in several organisations
Public authorities
	
 Compliance with requirements of  
public authorities
	
 Joint identification of solutions on issues 
for real estate and quarter planning
	
 Coordination of decisions on major 
issues in close cooperation with the 
public authorities 
	
 Legally required reports
	
 Reports, e.g. annual report and  
ESG report
Neighbouring residents
	
 Increase in quality of life through  
UBM projects
	
 Timely information, participation and 
codetermination rights in planning  
and development processes
Media
	
 Targeted and timely information on 
current and strategic issues
	
 Press releases
	
 Interviews
	
 Website

40
U B M  &  S U S T A I N A B I L I T Y
3.4. Materiality analysis
To meet our responsibility towards society and the environ-
ment, we rely on a structured process to monitor and evaluate 
social and ecological developments. This process is based 
on the concept of “double materiality“, meaning an evalua-
tion from the outside-in (risks from the company’s viewpoint, 
impact on our business and added value) and inside-out per-
spective (UBM’s impact on people and the environment). A 
third dimension is the perspective of significant stakeholder 
groups.
The major issues for UBM were redefined in 2021 as part of 
a materiality analysis based on these three dimensions. This 
revision was required to accommodate changes in interna-
tional regulations and standards, in particular the EFRAG rec-
ommendation to the CSRD draft (2021) and the GRI update 
2021. The resulting materiality matrix forms the basis for this 
ESG report and replaces the former version.
The first step involved compiling a list of 17 potential material 
issues based on a comprehensive context analysis, studies on 
megatrends, an extensive peer group review and discussions 
with internal experts. The evaluation of the importance and 
impact of these issues followed three perspectives:
	
 UBM’s impact on people, society and the environment
	
 The relevance of sustainability issues for UBM 
	
 The relevance of sustainability issues from the  
stakeholder perspective
UBM’s impact on people, society and the environment 
Based on the valuation approach in the CSRD draft (2021), 
quantitative and qualitative assessments of the impact 
on people, society and the environment were carried out 
together with external experts. The ecological assessments 
are based on simplified carbon footprint measurements and 
other indicators that support an expert-based evaluation of 
the ecological impact. The social assessments are based on 
an estimate of the number of involved persons (range), the 
impact on their quality of life (scope) and the irreversibility 
of the impact.
Impact of sustainability issues on UBM 
A worst-case scenario was developed for each sustainability 
issue and evaluated by the Management Board together with 
the investor relations & ESG department. Gross risks were 
evaluated on the basis of two dimensions (scope and proba-
bility of occurrence) over a time horizon of roughly ten years.
Relevance of sustainability issues from the stakeholder 
perspective
Internal and external stakeholders from 12 pre-defined stake-
holder groups (see page 38) were invited to take part in an 
online survey where they were asked to rank the individual 
issues according to their priority and to select the five most 
important issues. The survey was sent to 700 stakeholders 
and generated 208 evaluable results (representing a return 
rate of 33%).
The three perspectives formed the framework for the assess-
ment and prioritisation of the issues based on their impor-
tance for UBM and its stakeholders as well as the impact on 
the environment and society. In a workshop with the Manage-
ment Board and the internal experts responsible for the areas 
of environment, society and governance, the findings were 
discussed and three material issues were identified:
	
 Energy efficiency, renewable energies and  
CO2 emissions
	
 Attractive employer & training and education
	
 Corporate governance and compliance 
The results were recorded in a materiality matrix and, in line 
with the ESG structure, classified under the areas of environ-
ment, society and governance for sustainability reporting. 
Here, employees and society are covered under the same 
heading. The matrix shows all three dimensions and is ori-
ented on the EFRAG recommendation to the CSRD draft as 
well as the GRI Standards 2021. The three material issues for 
UBM are described in detail in the following sections, and the 
other issues are also explained.

41
U B M  &  S U S T A I N A B I L I T Y
There were several changes in comparison with the materi-
ality analysis from 2020:
	
 “Energy consumption“ and “GHG (greenhouse gases)“ 
were combined under the material issue “energy  
efficiency, renewable energies and CO2 emissions“. 
	
 “Fair working conditions“ and “employee training  
and education“ were assigned to the material issue 
“attractive employer & training and education“. 
	
 “Ethics & compliance“ was renamed “corporate  
governance and compliance” and identified as  
a material issue. 
	
 “Users’ well-being“ and “incentives for environmentally 
friendly behaviour“ were split off into “customer  
orientation and creating awareness“ and “healthy  
building materials and quality of life“. 
	
 “Digitalisation and technology“ was expanded to 
include innovation (“innovation and technologies“).
	
 “Adaptation to climate change“ and “biodiversity“  
were combined into a single issue (“ground sealing, 
adaptation to climate change and biodiversity“).  
	
 “Urban quarter development“ and “socio-cultural  
environment of projects“ were combined under  
“architecture, urban quarter development and  
social diversity“. 
	
 “Water consumption“ and “waste“ were combined 
under “water & wastewater utilisation, waste in  
building operations“. 
	
 The new issue “sustainable procurement and regional 
added value“ covers “social criteria in the supply chain“, 
“ecological criteria in the supply chain“ and “regional 
economy & society“. 
	
 “Infrastructure and mobility“, which was previously 
included under “socio-cultural environment of projects“, 
was recorded separately. 
	
 The former issue “cooperations“ is still an integral part 
of UBM’s activities but is no longer reported separately. 
 GRI  2-12, 2-29, 3-1, 3-2

42
U B M  &  S U S T A I N A B I L I T Y
M A T E R I A L I T Y  M A T R I X
 
 
 
 
Sustainable procurement  
& regional added value
moderate
very high
moderate
very high
Relevance from the stakeholder perspective
Impact on the environment and society
Water & wastewater 
utilisation, waste in 
building operations
Energy efﬁciency, 
renewable energies  
& CO2 emissions
Recyclability  
& durability of  
building materials
Healthy building  
materials & quality of life
Corporate governance  
& compliance
Refurbishment  
& revitalisation
Ground sealing,  
adaptation to climate 
change & biodiversity
Attractive employer  
& training and education
Architecture,  
urban quarter 
development  
& social diversity
Occupational  
health & safety
Innovation &  
technologies
Diversity &  
equal opportunities
Customer orientation  
& creating awareness
Mobility &  
infrastructure  
very high
moderate
high
The relevance for UBM  
is assigned as follows:
Material in the sense of GRI and CSRD  
are dark green squares and  
topics with beige background.

43
U B M  &  S U S T A I N A B I L I T Y
3.5. Concrete goals and measures
3.5.1. Sustainable Development Goals
UBM is committed to the United Nations Sustainable Devel-
opment Goals (SDGs), which were adopted by all UN Member 
States in 2015 as the 2030 Agenda for Sustainable Develop-
ment. Governments as well as companies are called upon to 
contribute to reaching these goals. The framework includes 
17 goals and 169 sub-goals which are related to global eco-
nomic, social and ecological challenges.
Our actions are also based on the ten principles of the UN 
Global Compact. The assignment of the applicable SDGs and 
their sub-goals together with the ten principles of the UN 
Global Compact and their relation to the GRI Standard are 
explained in greater detail in the GRI Index (see section 7).
In connection with a materiality analysis (see section 3.4.) and 
a risk/impact assessment (see section 3.6.), UBM dealt with 
the SDGs and the related sub-goals in detail and identified 
the goals where the company can make a direct contribution 
to the Agenda 2030:
Affordable and clean energy – 
Ensure access to affordable,  
reliable, sustainable and modern 
energy for all.
Focus: Goals 7.2 and 7.3
Decent work and economic 
growth – Promote sustained, 
inclusive and sustainable economic 
growth, full and productive  
employment and decent work for all.
Focus: Goals 8.4 and 8.8
Industry, innovation and  
infrastructure – Build resilient 
infrastructure, promote inclusive  
and sustainable industrialization  
and foster innovation.
Focus: Goal 9.1
Sustainable cities and  
communities – Make cities and  
human settlements inclusive, safe, 
resilient and sustainable. 
Focus: Goals 11.1 and 11.3
Climate action – 
Take urgent action to combat  
climate change and its impacts.
Focus: Goals 13.1 and 13.2
Life on land – Protect, restore and 
promote sustainable use of terrestrial 
ecosystems, sustainably manage 
forests, combat desertification, and 
halt and reverse land degradation 
and halt biodiversity loss.
Focus: Goal 15.5
Peace, justice and strong 
institutions – Promote peaceful 
and inclusive societies for sustain-
able development, provide access 
to justice for all and build effective, 
accountable and inclusive institutions 
at all levels.
Focus: Goal 16.7

44
U B M  &  S U S T A I N A B I L I T Y
3.5.2. Goals and measures in detail
The consequent implementation of our commitment is underscored by the definition of goals, measures and indicators for 
the environment, society and governance action areas. 
Issue
Goal
 Measures
Indicators
Time  
horizon
ENVIRONMENT – PROJECT DEVELOPMENT
Timber construction
Over 100,000 m² in timber or 
timber hybrid construction
Quality gate: Every project must 
be evaluated to determine  
whether timber (hybrid)  
construction is possible – if it is, 
timber (hybrid) construction must 
be the method of choice
m² of timber
2025
Evaluate timber in the selection 
of materials for all new project 
construction
ongoing
Reduce CO2 by at least 20%  
with timber hybrid construction  
versus conventional  
construction at project level
Quality gate: Every project must 
demonstrate savings in the  
ecological assessment during 
execution planning
Savings in t CO2 
equivalents
2025
Energy requirements 
& CO2
Reduce primary energy demand 
(PED) for new projects to  
national nearly zero energy 
building standards
Planning specifications for  
technical building services  
on all new projects
Primary energy 
demand
2025
Reduce CO2 intensity (basis 
2019) by 30% for completed 
projects
CO2 intensity in  
kg/m² GFA  
(CO2 equivalents)
2030
Increase share of renewable 
energy in energy carriers to 50%
Share of energy 
from renewable 
sources to total  
energy  
consumption
2030
Green building  
certification
Obtain green building  
certification for 100% of new  
developments starting in 2022
Green building certification for 
all new projects as a mandatory 
element of the green. smart. and 
more. strategy
Share of certified 
projects in the total 
portfolio
2025
Brownfield  
development
Increase share of brownfield 
developments in new projects 
to over 66%
Focus of acquisition process  
on brownfield developments  
(land with existing buildings)
Share of brownfield 
developments in 
the total portfolio 
(cumulative starting 
in 2021)
2025
Sustainable building 
materials & circular 
economy
Evaluate the use of sustainable/ 
recycled building materials in  
all new development projects
For every project, the use of 
sustainable/recycled building 
materials must be evaluated  
in the planning stage
ongoing
Use cradle-to-cradle approach 
in dismantling for all new  
development projects
Circular economy requirements 
passed on to planners
ongoing

45
U B M  &  S U S T A I N A B I L I T Y
Issue
Goal
 Measures
Indicators
Time  
horizon
ENVIRONMENT – CORPORATE LOCATIONS
Renewable energy
Increase share of renewable 
energy in energy carriers to 30%
Changeover to green electricity 
suppliers
Share of energy 
from renewable 
sources in total  
energy consump-
tion
2025
Energy management
Establish/optimise building 
management systems (BMS) 
and/or energy monitoring in all 
standing assets
Equip all Group locations with BMS 
and/or energy monitoring and 
upgrade building optimisation
2025
Motor vehicle pool
Double the number of vehicles 
with alternative drives (basis 
2021)
Preference for purchase of vehicles 
with alternative drives
Number of vehicles 
with alternative 
drives
2025
Travel
Air travel: CO2 reduction of 25% 
(basis 2019)
Prepare and distribute travel 
manual for employees on subject 
of air travel
Emissions (in t CO2 
equivalents) caused 
by air travel
2025
ENVIRONMENT – STANDING ASSETS
Renewable energy
Increase share of renewable 
energy in energy carriers to 30%
Changeover to green electricity 
suppliers
Share of energy 
from renewable 
sources in total  
energy consump-
tion
2025
CO2 intensity
Reduce CO2 intensity by 30% 
(basis 2020)
Reduction of CO2 intensity through 
refitting to achieve high-efficiency 
energy systems, building  
automation & change in energy 
carriers
CO2 intensity  
(CO2 equivalents)
2030
Energy management
Establish/Optimise building 
management systems for 100% 
of standing assets
Equip all standing assets with BMS 
and upgrade building optimisation
2022 –  
not met
Anchor guideline for  
sustainable building operations 
in all standing assets
Prepare guideline for sustainable 
building operations and distribute 
to all tenants
2022 –  
met in part
Implement guideline for  
sustainable building operations 
in 100% of standing assets
Distribute guideline for sustainable 
building operations to all tenants
2023

46
U B M  &  S U S T A I N A B I L I T Y
Issue
Goal
 Measures
Indicators
Time  
horizon
SOCIAL
Attractive employer –  
win over the best 
employees
Increase number of applicants
Create employer branding strategy 
to strengthen the attractiveness  
of UBM for potential candidates 
and continuously improve the  
candidate experience. This  
includes the development of  
a career page, increased online 
presence, e.g. in LinkedIn or 
kununu, and preparation of job 
and skills profiles for all job  
classifications.
Number of  
applications per 
advertised position
ongoing
Increase quality of applicants – 
first calculation of interview 
quota in 2022
Interview quota  
(% of applicants 
with job interview)
2022 –  
met
 
ongoing
Ensure high probability of hiring
New hiring by 
gender & age, offer 
acceptance rate, 
time-to-hire after 
job ads
ongoing
Attractive employer –  
retain the best  
employees
Hold employee turnover below 
12.5%
Create employer branding strategy 
to strengthen the attractiveness of 
UBM for potential candidates. This 
includes a structured onboarding 
process for all new employees, 
flexible working time models, 
attractive remuneration, regular 
information for employees via 
internal communication channels, 
internal opportunities for  
advancement, and the preparation 
of job and skills profiles for all job 
classifications.
Turnover rate,  
average length  
of service with  
the company,  
recommendation 
quota, share of 
management  
positions filled 
internally
2025
Training and education
25% more training hours per 
employee (basis 2020)
Define individual, requirement- 
oriented training measures in 
annual employee appraisals
Average training 
hours per employee
2025
Annual ESG awareness training 
for all employees
Allow for active participation of all 
employees in Climate Impact Day 
to create awareness for the  
importance of ESG
Share of employees 
with ESG training
2023
Promote feedback culture –  
annual appraisals with all  
employees
Regular HR development and 
feedback discussions with  
employees based on a guideline
Share of employees 
with appraisals
ongoing

47
U B M  &  S U S T A I N A B I L I T Y
Issue
Goal
 Measures
Indicators
Time  
horizon
Diversity and equal 
opportunities
No salary differences between 
women and men
Focus recruiting on the search for 
suitable candidates. Women will 
be directly addressed through 
appropriate wording in job  
advertisements, and clear  
guidelines give preference to 
women when qualifications and 
experience are equal.
Gender pay gap (by 
hierarchy and age 
levels; “adjusted 
gender pay gap“)
2025
Increase percentage of women 
in management positions to 
over 30%
Share of women 
in management 
positions
2025
Increase percentage of women 
in the total workforce to 50%
Share of women in 
the total workforce
2025
Health and safety
Protect and promote  
employees‘ health
Protect psychological and physical 
health of employees with the help 
of modern occupational work and 
health protection management 
systems based on the highest 
standards (ISO 45001). Support for 
employees‘ health is provided by 
in-house fitness offerings and an 
occupational physician, work-
places are designed to promote 
healthy working conditions, and 
there is a subsidy for membership 
of a fitness studio.
Work-related 
illnesses, absences 
due to work-related 
illnesses in days lost
ongoing
Hold lost time due to work  
accidents at a low level. Goal: 
zero work accidents
Absence rate after 
work accidents, 
work accidents per 
year
ongoing
GOVERNANCE
Corporate governance 
and compliance
Safeguard entrepreneurial  
compliance and responsible 
actions
Expand whistleblower system  
to also cover violations of other  
reports in connection with the 
UBM ethics code; make  
whistleblower system also  
available in Czech and Polish
Violations of rules 
and regulations, 
confirmed  
corruption  
incidents,  
proven cases of  
money laundering, 
proceedings over 
anticompetitive 
behaviour,  
discrimination 
incidents
2022 –  
met
Certify process-oriented quality 
management system according to 
the highest standards (ISO 9001)
Share of employees 
covered by ISO 
certification
ongoing
Self-evaluation by the Supervisory 
Board to judge the efficiency of its 
activities, especially organisational 
and working procedures
annual
Evaluate possible ESG  
remuneration model and prepare 
necessary data basis
2023

48
U B M  &  S U S T A I N A B I L I T Y
Issue
Goal
 Measures
Indicators
Time  
horizon
Corporate governance 
and compliance
Implement guidelines and  
prevent misconduct by  
consequent preventive actions
Carry out employee training  
(in-house or via e-learning) in  
capital market compliance; revise 
and expand training materials
Number of training 
courses held
ongoing
Carry out in-house training for 
employees in compliance with a 
focus on the prevention of money 
laundering; revise and expand 
training materials
Number of training 
courses held
ongoing
Carry out sampling controls to  
verify compliance with rules for 
insider information as well as 
confidential and price-sensitive 
information
ongoing
Confirm ethics code in writing with 
all new employees in their national 
language
Share of employees 
with agreement to 
ethics code 
ongoing
Adapt ethics code to meet our 
sustainability requirements and 
further strengthen ecological and 
social responsibility
2023
Ongoing training for compliance 
staff and additional certification for 
responsible employees
ongoing
Store documentation on internal 
guidelines read by employees
2022 –  
met 
ongoing
Prevent money laundering and 
terrorism financing
Carry out continuous KYC reviews 
of new business partners via  
disclosure forms
ongoing
Regularly update internal risk  
analysis for the prevention of 
money laundering and terrorism 
financing
ongoing

49
U B M  &  S U S T A I N A B I L I T Y
Issue
Goal
 Measures
Indicators
Time  
horizon
Sustainable procure-
ment and regional 
added value
Ensure ecological & socio- 
economic compliance in the 
value chain
Confirm binding code of conduct 
with business partners in writing
ongoing
Ensure correct subcontractor  
documentation
Number of business 
partners who have 
signed the code of 
conduct
2022 –  
met
Adapt code of conduct to meet 
our sustainability requirements 
and further strengthen ecological 
and social responsibility along the 
entire value chain
2023
Carry out sampling controls to  
verify compliance by existing 
suppliers for documentation of 
subcontractors; in Germany, use  
of an IT solution
2022 – 
met
GENERAL
ESG reporting
Transparent ESG reporting
UN Global Compact: publish  
progress report in the new format
2023
Continue voluntary reporting 
based on the Austrian  
Sustainability and Diversity  
Improvement Act, adapt reporting 
to meet the new GRI 2021  
requirements
2022 –  
met
Update materiality analysis to  
reflect GRI 2021 and CSRD  
requirements
2024
Voluntary, gradual adaptation  
of reporting to meet the  
EU Taxonomy requirements
% revenue,  
% capex, % opex
2025
Voluntary, gradual adaptation  
of reporting to reflect TCFD  
recommendations
2023
Voluntary external audit of  
ESG reporting
annual
Develop, optimise and  
expand internal reporting  
and monitoring systems
Develop process for internal 
reporting, introduce and expand 
sustainability data tool
2022 –  
met
External assessment of  
ESG performance
Arrange for ESG ratings by  
well-known rating agencies
annual

50
U B M  &  S U S T A I N A B I L I T Y
3.6. Conscious handling of risks and their 
effects
The realistic assessment and management of risks represent 
an essential factor for business success and sustainable man-
agement. One related step was the announcement in 2021 
of UBM’s commitment as an official supporter of the Task 
Force on Climate-related Financial Disclosures (TCFD). The 
TCFD recommends the voluntary disclosure of climate-re-
lated risks based on four pillars: governance, strategy, risk 
management, and metrics and targets.
The TCFD recommendations for the reporting of climate-re-
lated risks were applied for the first time in 2021 and are 
gradually being implemented. Additional information on the 
risk management system can be found in the annual report 
beginning on page 123.
Governance
The overall responsibility for general risk management at  
UBM lies with the Management Board. The head of risk  
management is responsible for the operational risk man-
agement process. A risk catalogue with the most significant 
individual risks was developed jointly at a meeting of the 
Management Board, risk manager and risk coordinators. ESG 
risks in connection with sustainability issues were evaluated 
extensively as part of a materiality analysis in 2021 and 2020 
(see section 3.4.). The full Management Board was involved 
in this risk analysis together with the investor relations & ESG 
department.
Strategy
Energy efficiency, renewable energies and the reduction 
of CO2 emissions are central drivers for UBM’s long-term 
success and, consequently, are an elementary part of the  
green. smart. and more. corporate strategy. Given the sub-
stantial share of worldwide energy-related CO2 emissions, 
increasing regulations to limit CO2 emissions by the con-
struction and real estate sector can be expected. The revised 
EU Energy Performance of Buildings Directive took effect 
on 1 January 2021 and deals with the energy efficiency of 
buildings. It requires all new buildings to be built as nearly 
zero-energy structures (according to the respective national 
definition). Buildings that do not meet this standard could 
therefore risk being denied a building permit in the future. 
Climate protection, among others, is also anchored in the  
EU Taxonomy (e.g. through regulations covering primary 
energy requirements). That could result in a competitive  
disadvantage as well as a decline in investor demand for 
investments that are not classified as sustainable in the sense 
of the taxonomy.
The growing frequency of high temperature periods is also 
increasing the pressure on energy-intensive equipment for 
building operations (e.g. cooling systems). Moreover, the 
CO2 pricing scheme which, for example, was introduced in 
Austria in October 2022, will create financial disadvantages 
for fossil energy carriers. UBM has shifted its focus to the car-
bon-absorbing raw material timber, renewable energies like 
geothermal power and photovoltaics, and green building 
certification as part of its green. strategy. Intelligent buildings 
and solutions for efficient building operations are anchored 
in this strategy with smart.

51
U B M  &  S U S T A I N A B I L I T Y
Risk management
As part of general risk management, the probability of 
occurrence and the scope of possible damages from the 
above-mentioned risks are evaluated twice each year by the 
Management Board. The risk system is audited annually and 
adapted where necessary to meet changing circumstances. 
Examples of ESG-relevant individual risks in this catalogue are 
human resource risks (e.g. internal fraud, health, employee 
turnover) and the operating risks associated with buildings 
(e.g. force majeure). The risks arising from daily business 
operations are identified, assessed and controlled through 
appropriate measures by operating management. The com-
pliance function monitors adherence to external and internal 
rules and regulations, while internal audit ensures indepen- 
dent and objective monitoring.
The evaluation of gross risks as part of the ESG risk analysis 
in 2021 was based on two dimensions (scope and probability 
of occurrence) over a time horizon of roughly ten years. The 
most important risks were identified with this evaluation and 
subsequently flowed into UBM’s materiality analysis as one 
of the three dimensions.
Metrics and targets
UBM has defined measures and indicators for assessment 
and management along the three fields of environment, soci-
ety and governance. The main goals are described on page 
33, the details on page 44. Further information can be found 
in the following sections.
Sustainable management is the  
basis for economic success – and  
economic success is the basis for  
sustainable management.
3.6.1. Environmental risks
Environmental risks and their impact are becoming increas-
ingly important for the planning and realisation of develop-
ment projects. One of the greatest challenges for real estate 
developers is to prevent or minimise the negative effects of 
their activities on the environment. Economic success and 
sustainable project development represent an area of ten-
sion but go hand in hand at UBM: Sustainable management 
is the basis for economic success – and economic success is 
the basis for sustainable management. The goal is to reduce 
environmental risks and, at the same time, identify and utilise 
business opportunities for UBM in this field.
A scenario was developed for each sustainability issue as part 
of the materiality analysis. Specific measures are described in 
greater detail in section 4.

52
U B M  &  S U S T A I N A B I L I T Y
The following environmental risks are relevant for UBM:  
Sustainability issues
Risks
Measures
Energy efficiency, renewable energies and 
CO2 emissions
	
 Increasing regulations for emissions,  
energy efficiency and other relevant 
topics
	
 Rising CO2 prices for fossil fuels
	
 Strategic focus on timber construction, 
renewable energies and green building 
certifications
	
 Installation/Optimisation of building 
management systems in standing 
assets and at UBM locations
Recyclability and durability of building 
materials
	
 Delivery shortages, increased  
competition and rising material costs
	
 Increasing regulations for building 
materials
	
 Evaluation of timber in the selection 
of materials for all new development 
projects
	
 Inclusion of circular economy  
requirements in the planning stage
Ground sealing, climate change  
adjustments and biodiversity
	
 High water and flooding due to  
ground sealing
	
 Increasing temperature, heat islands
	
 Focus on brownfield developments
	
 Focus on biodiversity in designing 
outdoor  facilities
	
 Expansion of biological diversity 
through roof and facade greening
Refurbishment and revitalisation
	
 Stricter  requirements for building  
demolition and correct material  
recycling
	
 Green building certification, also  
for refurbishment projects
Healthy building materials and the  
quality of life
	
 Increased  minimum requirements for 
the healthy quality of building materials 
	
 Green building certification
	
 Use of timber 
Water and wastewater utilisation and 
waste in building operations
	
 Reduced water supplies for building 
operations and the upstream  
construction industry due to dry periods 
(climate change)
	
 Increasing costs for waste disposal
	
 Green building certification
	
 Established waste concepts and  
targeted measures for water  
and wastewater utilisation
3.6.2. Social risks
We view our responsibility as an employer, contracting firm, 
business partner and integral part of our social system as 
a central element of our economic actions. The realisation 
of our projects is dependent to a significant degree on our 
employees. For that reason, UBM places high priority on 
attracting motivated, committed and qualified employees, 
giving them opportunities for development and creating an 
attractive working environment.
Our success is also based on our proven quality as a business 
partner and contracting firm that acts with expertise, reliability 
and transparency.
A scenario was developed for each social issue related to  
sustainability as part of the materiality analysis. The risks  
arising from social issues, their impact and the implemented 
measures are described in greater detail in section 5.

53
U B M  &  S U S T A I N A B I L I T Y
In the area of social issues, the materiality analysis identified the following risks: 
Sustainability issues
Risks
Measures
EMPLOYEES
Attractive employer & training and  
education
	
 Higher turnover and the related  
additional costs, increasing costs  
for new hiring
	
 Decline in innovation power  
and productivity 
	
 Image loss
	
 Active support for an open  
communication culture and  
work-life balance
	
 Measures to develop skills and  
career planning, opportunities  
for personal development
	
 Competitive and performance-oriented 
remuneration and benefits
Diversity and equal opportunities
	
 Loss of innovation potential when  
personal backgrounds are not  
considered
	
 Lack of motivation, higher turnover  
and the resulting higher costs
	
 Increasing legal requirements 
	
 Image loss
	
 Targeted recruiting of suitable female 
candidates 
	
 Exchange of experience (“buddy 
principle“)
Occupational health and safety
	
 Rising costs due to lost workdays  
and illness
	
 Image loss
	
 Integrated management system  
for occupational safety and health  
protection 
	
 Active support for physical and  
psychological health
SOCIETY
Architecture, urban quarter development 
and social diversity
	
 Increasing requirements for barrier-free, 
flexible and smart housing due to  
demographic shift
	
 Green building certification
	
 Active support for stakeholder  
dialogues
	
 Membership of initiatives like ÖGNI, 
ICG
Infrastructure and mobility
	
 Standing assets become more difficult 
or impossible to sell
	
 Flagship projects for future-oriented  
mobility concepts
	
 Active support for stakeholder  
dialogues
Customer orientation and creating  
awareness
	
 Project delays 
	
 Market entry problems 
	
 Green building certification
	
 Active support for stakeholder  
dialogues 
	
 Membership of initiatives like ÖGNI, 
ICG

54
U B M  &  S U S T A I N A B I L I T Y
3.6.3. Governance risks  
Responsible, transparent and future-oriented management 
forms the basis for a company’s economic success – and this 
economic success is the basis for sustainable management. 
Specifically, that means: The way we address major social 
challenges and balanced treatment of the interests of all our 
stakeholders are an essential and integral part of our actions.
A scenario was developed for each governance issue related 
to sustainability as part of the materiality analysis. The risks 
arising from social issues, their impact and the implemented 
measures are described in greater detail in section 6.
 
The extensive catalogue of measures to deal with compliance 
risks covers the entire UBM Group. Corruption risk is viewed 
as part of the human resources risk (among others, internal 
fraud, corrupt behaviour) and flows into the risk assessment, 
risk map and overall aggregation. Measures to reduce this 
risk include, among others, regular training, work instructions 
(e.g. the dual control principle), obtaining multiple offers, 
recording order procedures, the separation of orders and 
payment as well as the related controls.  GRI 205-1  
In the area of governance, the materiality analysis identified the following risks:
Sustainability issues
Risks
Measures 
Corporate governance and compliance
	
 Fines, consequences under criminal law
	
 Reputational damage
	
 Risks for the interests of investors and 
employees, declining share prices
	
 Financial damages due to invalid  
agreements
	
 Exclusion from tenders
	
 Commitment to the Austrian Code of  
Corporate Governance
	
 Extensive compliance management 
system 
	
 Whistleblower system
	
 Internal training and awareness creation 
	
 Code of conduct for business partners
	
 Ethics code
	
 360° process landscape
Sustainable procurement and regional 
added value
	
 Increasing regulatory requirements for 
due diligence in the supply chain
	
 Problems in international supply chains
	
 Reputational damage
	
 Code of conduct for business partners
	
 Procurement guideline for the  
ecologically oriented purchase of office 
and advertising materials, meals and 
hospitality
Innovation and technologies
	
 Impairment of competitive ability
	
 Loss of know-how
	
 Smart Building Innovation  
Foundation (SBIF)
	
 Digitalisation of the UBM working world

55
U B M  &  S U S T A I N A B I L I T Y
3.7. ESG reporting
UBM is not covered by the reporting requirements of the Aus-
trian Sustainability and Diversity Improvement Act but has 
voluntarily and proactively published an annual ESG report in 
line with the latest GRI standards since 2020. Consequently, 
the company is very well prepared to address the informa-
tion requirements at product and corporate levels that will 
result from the CSRD and Taxonomy Regulation. The mate-
riality analysis and reporting reflect, in all respects, the GRI 
definitions for report content and quality: accuracy, balance, 
clarity, comparability, completeness, sustainability context, 
timeliness and reliability. 
Reporting will be gradually adapted to reflect the changing 
regulatory developments – for example, the materiality anal-
ysis was already revised under this perspective (see section 
3.4.). Moreover, UBM’s reporting is based on voluntary frame-
works and norms like the UN Global Compact (see section 
3.9.). This ESG report serves as a progress report for the UN 
Global Compact. UBM has been an official supporter of the 
TCFD recommendations (Task Force on Climate-related 
Financial Disclosures) since 2021 and is covering this subject 
in its current report (see section 3.6.).
In connection with the concrete, measurable goals for the 
coming years which were set in 2021 and are regularly evalu-
ated, the ESG report gives UBM a valuable management tool 
to meet its responsibility to society. The ESG report describes 
the management approaches, goals and measures related 
to the environment, society and governance, and highlights 
successes as well as challenges. The subject areas are based 
on the materiality analysis carried out in 2021. 
The ESG report is prepared by the investor relations & ESG 
department in coordination with the specialist departments 
and released by the Management Board. Additional informa-
tion on UBM, its business development and corporate gov-
ernance is provided in the 2022 annual report. 
Transparency and reliability are also decisive for our ESG 
reporting, and we therefore arranged for an external limited 
assurance audit of this ESG report (more information is pro-
vided beginning on page 123). 
UBM also introduced a central data management tool in 
2021, which has been successively filled with facts and figures, 
above all on environmental issues, since 2022. The goal is to 
create an informative basis for the definition of internal goals 
and external evaluations. 
This tool supports data processing with maximum flexibility 
and meets all current international sustainability standards. 
Transparency is ensured by control mechanisms, plausibil-
ity checks and the definition of responsibilities. Controlling 
is responsible for this tool at corporate level, and a contact 
partner has been designated for each country organisation. 
Data collection takes place directly in the respective areas 
and departments in the individual countries.  GRI 2-3, 2-5, 2-14

56
U B M  &  S U S T A I N A B I L I T Y
3.8. ESG ratings
Leading global ESG rating agencies have confirmed UBM’s 
strong position in the area of sustainability. 
ISS ESG: Prime Status for UBM
Rating by ISS ESG resulted in “Prime Status“ (Level “B-“) for UBM  
Development. That makes UBM Development one of the most 
sustainable companies in its sector in Germany and Austria. 
EcoVadis: Platinum for UBM
Following Gold from the initial evaluation in 2021, UBM Devel-
opment was awarded Platinum in 2022 – the highest rating 
given by EcoVadis. UBM now belongs to the top one per cent 
of the 100,000 companies graded by EcoVadis worldwide.
 
CDP: Grade B for UBM’s very first rating
The first rating by CDP resulted in Grade B and reflects UBM’s 
commitment to addressing climate change. UBM voluntarily 
took part in CDP reporting on climate-relevant data in 2022 
to transparently inform stakeholders on its climate protection 
strategy and measures to reduce CO2 emissions.
UBM is now also included in VÖNIX
UBM Development became a member of Austria’s VÖNIX 
Sustainability Index in 2022. This sustainability benchmark 
includes the Austrian companies listed on the Vienna Stock 
Exchange that hold leading positions with regard to their eco-
logical and social activities.
Gaïa (EthiFinance): Gold for UBM
The evaluation by Gaïa resulted in Gold for UBM and a rank-
ing as one of the top two companies in Austria. Compared 
with the benchmarks (Austria, real estate sector and reve-
nue between €150 and €500m), UBM was a high-flyer in all 
four rating categories (Environment, Social, Governance and 
external stakeholders).

57
U B M  &  S U S T A I N A B I L I T Y
3.9. Memberships
Our actions are also based on the ten principles of the UN 
Global Compact, a “network of the future“ which UBM joined 
in 2021. UBM has additionally been an official supporter of the 
Task Force on Climate-related Financial Disclosures (TCFD) 
since 2021, where it is one of more than 4,000 organisations 
committed to fighting climate risks and developing a more 
resistant financial system through better disclosure.
An intensive dialogue with stakeholders is guaranteed and 
reinforced by UBM’s participation in various organisations 
and sector associations. The company has been a member 
of the Institute for Corporate Governance (ICG) since 2019 
and contributes to the ICG’s social impact investment initia-
tive. In addition, UBM is a member of the corporate platform 
respACT (Austrian Council for Sustainable Development), 
the Austrian Sustainable Building Council (“Österreichische 
Gesellschaft für Nachhaltige Immobilienwirtschaft”, ÖGNI) 
and Hotel Management Associates (HAMA).
UBM expanded its active participation in the interest group 
“IG-Lebenszyklus Bau” to include membership in 2020. The 
organisation’s working group on the shortage of land was 
headed, among others, by Gerald Beck, Managing Director 
of UBM Austria. We are committed to finding ways to stop the 
wasteful use of land as a limited resource with existing and 
new framework conditions. 
We also play an active role in the Association of Austrian 
Project Developers (“Vereinigung der Österreichischen Pro-
jektentwickler“, VÖPE). Together with other VÖPE members, 
UBM shows that project developers can be strong and reli-
able partners for the general public and the public sector in 
the creation of living environments.  GRI 2-28

E N V I R O N M E N T  stands for our 
commitment as real Greens – which is clearly  
demonstrated by our corporate colour – to  
delivering the best protection possible. 
All our projects and transactions are “green“  
from top to bottom to meet the highest ESG  
standards: with green building, green ﬁnancing  
and green thinking. In that way, we anchor green,  
as the core idea, at all levels of our company.  
This creates a holistic approach to environmental 
awareness as well as new perspectives and  
valuable synergies.

59
U B M  &  E N V I R O N M E N T
4.  
UBM & Environment
4.1.  
Energy efficiency, renewable energies & CO2 emissions
4.2.  
Recyclability & durability of building materials  
4.3.  
Ground sealing, climate change adjustments and biodiversity
4.4.   Refurbishment and revitalisation 
4.5.  
Healthy building materials & the quality of life  
4.6.  
Water and wastewater utilisation and waste in building operations

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U B M  &  E N V I R O N M E N T
The real estate and construction sector is, from the global 
viewpoint, the most CO2- and energy-intensive sector. Con-
sequently, it is clear that ecological aspects play a key role in 
all our decisions. Our commitment to timber construction, the 
special attention we give to renewable energies and energy 
efficiency as well as our focus on green building certification 
are an expression of this conviction.
Future-oriented real estate development
As a real estate developer, we design the living space of the 
future – and that means we also design the environment. Real 
estate development is not only our core business, it also gives 
us the greatest leverage to significantly reduce our carbon 
footprint. UBM directly addresses the ecological impact of 
its activities in all project phases with a constant focus on 
environmental protection and the careful use of resources. 
Our activities concentrate on the following areas: 
	
 Energy efficiency, renewable energies and CO2  
emissions
	
 Durability and recyclability of materials 
	
 Ground sealing, climate change and biodiversity 
	
 Refurbishment and revitalisation 
	
 Healthy building materials and the quality of life 
Real estate development projects
Projects
Total pipeline1
2022
2021
2020
GFA (Gross Floor Area) total [m²]
512,595
99,633
118,104
129,269
GFA Office [m²]
184,875
35,775
5,430
44,407
GFA Residential [m²]
327,720
21,778
47,072
76,816
GFA Hotel [m²]
0
16,992
51,149
8,046
GFA Other and Mix [m²]
0
25,089
14,453
0
Projects – all asset classes [number]
40
9
10
10
Office [number]
10
3
1
2
Residential [number]
30
3
4
7
Hotel [number]
0
1
4
1
Mix and Other [number]
0
2
1
0
1	 The data covers all projects in the pipeline (Q1/2023-Q4/2026). Projects that are composed of different phases or building sites are shown separately.
We measure our locations based on their footprint
In addition to our development projects, we want to make 
our own business operations more sustainable. UBM has 
office space at 15 locations. Our goal in this area is to steadily 
reduce our ecological footprint. Relevant activities to reach 
this goal involve energy consumption and emissions (see sec-
tion 4.1.). The efficient use of water and correct waste man-
agement are also important issues for UBM and are internally 
managed and reported.
Fewer standing assets
The strategic focus of UBM’s business activities involves 
the development and sale of properties. Accordingly, the 
number of standing assets has been steadily reduced since 
2015. UBM also takes action to support sustainability in these 
properties – here, the key issue is whether the properties are 
rented and UBM therefore only has an indirect influence on 
energy consumption and emissions, for example through the 
use of energy-saving lighting or efficient heating and cooling 
solutions.
Our company.
Our environment.

61
U B M  &  E N V I R O N M E N T
4.1. Energy efficiency, renewable energy and 
CO2 emissions
4.1.1. Importance of the issue
With the Paris Agreement, nations across the world have 
agreed on joint efforts to hold global warming substan-
tially below 2°C and, through further measures, to limit the 
increase to 1.5°C below the pre-industrial level (1990). The 
EU’s Green Deal represents the heart of European sustain- 
ability efforts in this context. It calls for a reduction of at least 
55% in net greenhouse gas emissions (basis: 1990) by 2030 in 
the EU. This important interim goal in the Green Deal will put 
Europe on course to become the world’s first climate-neutral 
continent by 2050. Related activities include the European 
Commission‘s “Fit for 55“ package which includes draft leg-
islation in the areas of climate, energy and fuel, traffic, build-
ings, the use of land and forestry operations. The require-
ments include, among others, a European approach to CO2 
pricing (certificate trading and CO2 taxes). The European CO2 
Carbon Border Adjustment Mechanism (CBAM) is designed 
to counter the shift of CO2 emissions to non-EU countries with 
less ambitious climate policies by introducing CO2 tariffs on 
certain imports (including cement, iron and steel) starting in 
2026.
Other sets of regulations and initiatives like the EU Taxonomy 
currently focus, among others, on energy and emissions and 
establish stricter requirements for companies regarding cli-
mate protection measures and the related reporting. Invest-
ments not considered sustainable in the sense of the taxon-
omy are likely to face a competitive disadvantage as well as 
a decline in investor demand in the future. Various players 
– including companies, investors, public institutions and con-
sumers – are called on to accept responsibility and support 
the attainment of these goals with effective measures.
These ambitious goals are a challenge for the real estate 
sector because energy consumption and the related green-
house gas emissions caused by a building over its entire 
lifecycle have a significant impact on the climate balance. 
The construction and operation of real estate are responsi-
ble for nearly 40% of global CO2 emissions and more than 
one third of worldwide energy consumption (UNEP 2022). 
The real estate sector therefore plays an important role – the 
reduction of energy consumption and the CO2 emissions of 
buildings are essential for the realisation of global energy-re-
lated goals.
Real estate developers have a powerful lever to make a valu-
able, positive contribution in the area of energy and emis-
sions: Possible actions involve renewable energies (geother-
mal power, the installation of photovoltaic or solar energy 
equipment, inclusion in the planning phase of subsequent 
refitting and options for the expansion of renewable energy 
carriers), energy-efficient building shells and technology, 
low-energy and low-emission building materials (e.g. timber)  
and the integration of mobility concepts (e.g. e-charging  
stations).  GRI 3-3
4.1.2. Our commitment
Through the development of new projects, we create urgently 
needed living space for society. We want to support the 
global agenda and attach great importance to environmen-
tally friendly, resource-conserving and future-oriented con-
struction methods. The carbon footprint of a property can be 
substantially reduced, both during construction and in later 
building operations. Our focus is on low-emission building 
materials, energy-efficient building design, and the use of 
renewable energies.
Our commitment to and investments in timber construction 
are important because of their significant, inherent capability 
to reduce the carbon footprint. Every cubic metre of wood 
stores one tonne of CO2 over the long term, while the pro-

62
U B M  &  E N V I R O N M E N T
duction of cement and steel is energy-intensive and results 
in CO2 emissions. The production of the concrete and steel 
frequently used in building construction is responsible for 
no less than six per cent of all CO2 emissions worldwide. 
Consequently, we evaluate the possible use of the renew-
able material timber, with its carbon-capturing properties, for 
every project. Our goal here is to create significantly more 
than 100,000 m² of office and residential space in timber 
hybrid construction by 2025.
The energy consumption in the buildings developed by UBM 
(offices, apartments) also has an impact on the environment 
and is a material cost factor for tenants and users. It is possi-
ble to reduce the energy consumption from the construction 
and operation of a building as early as the planning phase. 
Efficient measures include, among others, good insulation, 
energy-efficient building technology, the location-based ori-
entation and the size of windows, shading equipment and the 
energy-efficient regulation of the indoor climate (heating and 
cooling) with modern sensors.
In comparison with fossil energy carriers like natural gas or 
heating oil, the use of renewable energy sources in buildings 
(geothermal power, photovoltaic and solar technology, etc.) 
can make a significant contribution to reducing CO2 emis-
sions. This can also be achieved through subsequent refitting 
or options to increase the use of renewable energy carriers. 
The possibilities for connection to geothermal power and 
similar sources, however, must be evaluated when selecting 
the location and acquiring the site.
Our green. smart. and more. strategy places ESG in the 
focus of our actions along the entire value chain. It is deeply 
anchored in processes and represents an integral part of all 
phases. Processes are operationally standardised through an 
institutionalised 360° principle. As part of the “Next Level“ 
efficiency programme, our core and support processes were 
reviewed on the basis of specific quality gates and defined 
for the entire UBM Group. 
These processes were adapted in line with the strategic focus 
on green. smart. and more. to ensure implementation of the 
strategy at project level. For example: Every project must 
include an evaluation, among others, of the use of timber 
as a building material, greening and the on-site generation 
of renewable energy through photovoltaics – as only several 
examples of the quality gates in our standardised Group-
wide processes. Additional information on the 360° process 
landscape can be found in section 6.
We are building for a greener future – 
with timber, energy-saving technology 
and renewable energies.
Sustainability certifications are a suitable measurement instru-
ment to make building performance on the real estate market 
comparable – and to draw conclusions and learn from the 
results. For many years, we have actively worked to achieve 
certification for our properties based on our conviction. All 
new construction projects are sustainably planned, built and 
subjected to a sustainability assessment based on the DGNB, 
LEED or BREEAM systems. UBM has set a goal as part of its 
strategic reorientation to achieve certification not only for 
100% of its commercial properties, but also for all new pro-
jects in the residential asset class – at the latest by 2025.
As a pure property developer, we work with a wide range of 
suppliers and service providers. Our business partners are 
required to meet the same high standards, for example strict 
environmental requirements for their production processes 
and building material components. Environmental protection 
is also anchored in the subcontractors’ code of conduct (fur-
ther information can be found in section 6).
The focus on environmental aspects at our Group locations is 
also increasing. The corporate units in Austria (UBM Develop-
ment AG and UBM Austria), the Czech Republic and Poland 
are certified under the international environmental manage-
ment norm ISO 14001 and quality management norm ISO 
9001, and UBM Germany was added to this list in 2022.

63
U B M  &  E N V I R O N M E N T
UBM Development AG and UBM Austria are also certified 
under the ISO 50001 energy management norm, as the coun-
try organisations in the Czech Republic, Poland and Germany 
have been since 2022. Our binding ethics code, in which 
the subject of environmental protection is anchored, creates 
the foundation for all business activities and decisions, and 
compliance is confirmed in writing by our employees (see 
section 6 for further information).
The United Nations recommends three steps to achieve cli-
mate neutrality: measure emissions, reduce emissions and, 
finally, compensate for unavoidable emissions. We calcu-
late our emissions based on the internationally recognised 
Greenhouse Gas Protocol and monitor and report on our 
performance. One challenge in this respect is the limited 
availability of data on Scope 3 emissions, i.e. the indirect 
emissions arising from the purchase, transport or sale of raw 
materials and other products. In cases where there is a lack 
of low-emission electricity, we have started to use certificates 
as compensation for the unavoidable CO2 emissions arising 
from electricity consumption in selected standing assets or 
Group locations.
In order to be optimally positioned for the future, UBM estab-
lished the Smart Building Innovation Foundation (SBIF) in 
2022. This non-profit organisation includes partners from 
industry and science who work together to develop tech-
nical applications for smart buildings. The foundation com-
plements our green. smart. and more. strategy and will con-
tribute to achieving greater sustainability in the real estate 
sector. Its goals include the long-term reduction of emissions 
and resource consumption as well as the optimisation of eco-
nomic feasibility for sustainable office and residential con-
cepts. The first case of application deals with consumption- 
and capacity-optimised office properties.  GRI 2-23, 2-25, 3-3  
4.1.3. Organisational structure
With the timber construction & green building department, 
UBM has established a centre of expertise with five experts to 
underscore the strategic importance of timber construction. 
It supports and monitors the operational implementation 
of green building processes. New national and European 
requirements are evaluated and implemented at project level 
in agreement with the green. smart. and more. strategy. This 
department also coordinates the evaluation and organisation 
of building certification for development projects by external 
partners.
Project managers are responsible for the operational imple-
mentation of the green building strategy in development proj- 
ects. They optimise the projects, e.g. for energy consumption, 
in cooperation with external experts in agreement with the 
possibilities offered by the respective location. 
The implementation of the green building strategy in 
standing assets and at Group locations is the responsibility 
of UBM’s asset managers. They implement the measures 
defined by green building to reduce the CO2 emissions from 
these properties.
All projects are carefully reviewed and must be approved by 
UBM’s Management Board.  GRI 2-23, 2-24, 3-3
4.1.4. Goals and measures 
Project development 
Goals from our sustainability programme:
Timber  
construction
Green building  
certification
Reduction  
of CO2 by 30%
To reach these ambitious goals, UBM implements specifically 
designed measures to reduce energy consumption in its pro-
jects. Examples are the use of energy-efficient materials for 
building shells and the installation of energy-efficient tech-
nical equipment. The use of timber as a building material 
makes a special contribution to reducing CO2 emissions. An 
active commitment to sustainability best practices makes it 
possible for UBM to identify and utilise key controls to opti-
mise building performance with regard to energy and CO2 
emissions.

64
U B M  &  E N V I R O N M E N T
Goals and measures in detail:
Timber construction
	
 Over 100,000 m² in timber hybrid construction by 2025
	
 Evaluation of timber in the selection of materials for all 
new projects
	
 CO2 reduction of at least 20% with timber hybrid  
construction at project level by 2025
In order to ensure the conscious selection of materials for the 
construction of buildings, every development project begins 
with the question: Can it be realised with timber construction? 
The lifecycle assessment for every timber construction project 
must also demonstrate savings compared with conventional 
construction methods when realisation is planned. These 
two quality gates are part of the 360° principle described in 
section 4.1.2.
The table below provides an overview of UBM’s timber hybrid 
pipeline.
UBM’s timber hybrid pipeline
Project
GFA timber hybrid
Asset class
LeopoldQuartier
75,700 m²
Mix
Timber Factory
57,600 m²
Office
Bogner Gründe
24,100 m²
Residential
Timber Pioneer
17,600 m²
Office
Timber View
17,000 m²
Residential
Amras
16,600 m²
Residential
Timber Port
10,900 m²
Office
Pelkovenstraße
10,800 m²
Office
Molenkopf
9,800 m²
Residential
Timber Peak
9,500 m²
Office
Unterbibergerst.
8,400 m²
Office
Arcus City
7,400 m²
Residential
Total
265,400 m²
The potential for CO2 savings is illustrated by Timber  
Pioneer: The building structure (construction, maintenance,  
dismantling and disposal) will reduce CO2 emissions by 
roughly 12% compared with conventional construction meth-
ods. UBM is handling the “embodied carbon”, i.e. the embed-
ded emissions, during the construction phase by using tim-
ber to reduce CO2 emissions from the building materials.
One challenge for timber construction is the current lack of spe-
cialists in the executing companies. The strong dynamics on the 
timber market were a further source of uncertainty in the past, 
but the timber price has stabilised after a speculative phase 
and this raw material is again available at a reasonable price.
Energy and CO2 intensity
	
 Reduction of primary energy requirements to the 
national “nearly zero energy building standard” by 2025 
	
 Reduction of CO2 intensity by 30% (basis 2019) by 2030 
	
 Increase in the share of renewable energy in energy 
carriers to 50% by 2030
To meet its energy and CO2 intensity goals, UBM has defined 
primary energy requirements for the planning of technical 
building equipment in all new development projects. The 
installation of measurement and monitoring systems (smart 
buildings) can lead to the target-oriented reduction of emis-
sions, for example through intelligent lighting or equipment.
The durability of buildings, meaning the inclusion of a sec-
ond or third use in the planning stage, is an important fac-
tor: The specific goals set by UBM are reviewed regularly by 
Life Cycle Costings (LCC/lifecycle cost calculations) and Life 
Cycle Assessments (LCA/lifecycle evaluations). These plan-
ning tools make it possible to determine and, where neces-
sary, optimise the energy requirements and CO2 emissions of 
buildings from construction to maintenance and dismantling.
The calculation of energy consumption and CO2 emissions 
is based on the final energy requirements for the respective 
project. Energy intensity depends on the project specifics 
(asset class, countries) and is therefore subject to fluctuations.

65
U B M  &  E N V I R O N M E N T
Energy indicators – real estate development
2022
2021
2020
Total calculated energy consumption [kWh]
11,499,695
11,165,679
9,515,538
GFA of development projects [m²]
99,633
118,104
129,269
Calculated energy intensity [kWh/m²]1
115
95
74
Direct/Indirect GHG emissions [t]1
3,518
3,132
2,460
Intensity of GHG emissions [kg/m²]1
35
27
19
Property area in total [m²]
33,685
45,678
47,783
1	 The increase in energy and GHG intensity is attributable in particular to the completed hotel project. Data source: energy certificates.
Green building certification
	
 Obtain green building certification for 100% of  
new developments 
Green building certification is a mandatory element of the 
360° principle for all new projects. All commercial and resi-
dential projects intended for global sales have been evalu-
ated in accordance with internationally recognised certifica-
tion criteria since 2021. In addition, refurbishments and listed 
buildings are certified – e.g., the profiles “dismantling“ and 
“construction site“ were added to the certification programme 
for the large-scale project LeopoldQuartier in Vienna. The fol-
lowing projects were successfully completed in 2022:
	
 F.A.Z. Tower, Frankfurt
	
 Hafeninsel V – Kaufmannshof, Mainz
	
 siebenbrunnen21 Residential & Office, Vienna 
	
 siebenbrunnen21 Office, Vienna
	
 Nordbahnhof Residential, Vienna
	
 Nordbahnhof Office, Vienna
	
 Wohnpark Pendling, Kufstein
	
 Viola, Satteins
	
 Sugar Palace, Prague
 
 
The residential and hotel asset classes comprised a major 
part of the projects finalised by UBM in 2022. Three resi-
dential projects with a combined gross floor area (GFA) of 
21,778 m², three office projects with 35,775 m² and two proj- 
ects with a mix of residential & office with 25,089 m² were 
completed. These projects represent 83% of the total com-
pletions in 2022. 
Sustainability assessments were carried out and successfully 
completed for two of the above projects. In total, 45,511 m² 
of the 99,633 m², or 46% of the GFA completed in 2022, were 
certified. The projects that were not certified were started 
before UBM’s strategic reorientation and were therefore not 
certified.
UBM plans to continue building certification as confirmation 
of the sustainability of its property developments. All projects 
in all asset classes in the pipeline will undergo a sustainabil-
ity assessment in the future to support the attainment of the 
defined goals over the long term. Building certification will 
also be used as a tool to implement the requirements of the 
EU Taxonomy in established systems.

66
U B M  &  E N V I R O N M E N T
The following table shows the classification of certified and uncertified projects:
Certifications – real estate development
2022
2021
2020
Projects – all asset classes [number]
9
10
10
Office [number]
3
1
2
Residential [number]
3
4
7
Hotel [number]
1
4
1
Mix and Other [number]
2
1
0
GFA total [m²]
99,633
118,104
129,269
GFA certified [%]
46
60
41
GFA certified [m²]
45,511
71,032
52,453
GFA not certified [m²]
54,122
47,072
76,816
Certifications1 [number]
2
6
3
DGNB [number]
1
2
3
LEED [number]
1
3
0
BREEAM [number]
0
1
0
1	 The data are based on the absolute number of projects, without an adjustment for double certification.
Corporate locations
Goals from our sustainability programme:
Increase in  
renewable energy
Vehicles with  
alternative drives
 
Goals and measures in detail:
Renewable energy and energy management
	
 Increase the share of renewable energy in energy  
carriers to 30% by 2025
	
 Establish/Optimise building management systems 
(BMS) and/or energy monitoring at all UBM locations  
by 2025

67
U B M  &  E N V I R O N M E N T
To meet these ambitious goals, UBM is gradually converting 
its Group locations to green electricity suppliers and equip-
ping or refitting these facilities with building management 
systems and/or energy monitoring to support energy optimi-
sation. One challenge in this area is the availability of green 
electricity. Renewable energy as a share of UBM’s total energy 
consumption equalled 28.8% in Austria, 14.0% in Germany, 
58.1% in Poland and 0.0% in the Czech Republic during 2022. 
CO2 certificates were purchased for the Group’s location in 
Warsaw to neutralise the emissions from electricity consump-
tion due to the lack of green electricity. The contracts for all 
locations in Germany, Austria, the Czech Republic and Poland 
will be converted to green electricity, where available, by 
2025 at the latest.
UBM generally relies on district heating for its heating sup-
plies to benefit from the decarbonisation of the national net-
works and avoid the use of pure fossil energy carriers. Ener-
gy-efficient LED lighting is also installed when UBM locations 
are renovated.
UBM has carried out regular energy audits since 2016 in 
accordance with Directive 2012/27/EU on energy efficiency 
and Directive (EU) 2018/2002 (in Austria, the Energy Effi-
ciency Act; in Germany, the Building Energy Act). All invest-
ments over 50% (land, standing assets, new development 
projects) and locations are covered by these procedures. An 
external energy audit was carried out at the German and Aus-
trian locations in 2019, and verification audits based on ISO 
50001 took place in Austria (UBM Development AG and UBM 
Austria) during 2020 and 2021. The locations in Germany, 
Poland and the Czech Republic were certified according to 
ISO 50001 in 2022. All in all, 99.7% of the UBM locations 
(based on the number of employees) are covered by ISO 
50001 certification. 
An important measure introduced by UBM in 2020 that will be 
expanded over the coming years is the transparent and more 
exact collection of data on energy consumption and emis-
sions. This will support the development of further climate 
protection initiatives in the future. Transparent data collection 
is already in place at most of the locations, and projects have 
been ongoing since 2021 to extend these procedures to the 
other locations. 
UBM also introduced a central data management tool in 
2021, which has been successively filled with E, S and G 
data since 2022. The goal is to create an informative basis 
for the definition of internal goals and external evaluations. 
The tool supports data processing with maximum flexibility 
and in accordance with all current international sustainability 
standards. Additional information on this tool can be found 
in section 3.7.
Motor vehicle pool
	
 Double the number of vehicles with alternative drives 
by 2025 (basis 2021) 
Records have been kept on the petrol and diesel consump-
tion of all Group motor vehicles since 2020 to develop a 
database for defining concrete emission reduction targets. 
Preference is given to hybrid or electric vehicles when new 
vehicles are purchased, whereby the decision also involves 
the availability of suitable charging stations near the employ-
ee‘s home. In 2022, UBM’s motor vehicle pool included 35 
(2021: 18) vehicles with alternative drives.
Travel
	
 Reduce CO2 in air travel by 25% (basis 2019) by 2025
The Group-wide travel guideline “think before you travel” 
makes clear that business trips should only be taken when 
absolutely necessary. Rail travel must be given preference 
for shorter distances, and video conference portals should be 
used more frequently for meetings. The use of these digital 
formats has increased substantially as a result of the Covid-
19 pandemic. 
Since 2022, UBM has received a comprehensive analysis of 
the CO2 emissions from the travel management providers 
responsible for flight reservations.

68
U B M  &  E N V I R O N M E N T
Standing assets
Goal from our sustainability programme:
Goals and measures in detail:
Renewable energy
	
 Increase the share of renewable energy in energy  
carriers to 30% by 2025
UBM is gradually converting its Group locations as well as 
its standing assets to green electricity suppliers. The W3, a 
standing asset in Vienna, already purchases green electricity 
and, in addition to district heating, is also changing over to 
district cooling. A “manage to green“ project is currently in 
progress at the Poleczki Business Park in Poland. It involves 
the neutralisation of CO2 emissions from the total electricity 
consumption in 2021 and 2022 through certificates because 
green electricity is not available at that location. In order to 
ensure the long-term availability of renewable energy, photo-
voltaic equipment is currently being installed on the rooftop 
of one of the office buildings in the commercial park.
Energy management and CO2 intensity
	

Reduce CO2 intensity by 30 % by 2030 (basis 2020)
	

Establish/Optimise building management systems at all 
standing assets by 2022 
	

Anchor guideline for sustainable building operations in all 
standing assets by 2022 and distribution to tenants by 2023
UBM is equipping or refitting all standing assets with building 
management systems to support energy optimisation. The 
original goal to complete this activity in 2022 was not met, 
but work is actively continuing on the implementation. CO2 
intensity will be reduced through refitting with highly efficient 
energy systems and building automation. In addition, a guide-
line for sustainable building operations was prepared in 2022 
and will be distributed to all tenants in 2023.  GRI 3-3
4.2. Recyclability and the durability of building 
materials
In property development, the early planning phase defines 
the scope of the ecological footprint – and can be seen as 
the key to an efficient circular economy. Our focus on struc-
tural elements covers, among others, the materials used, their 
durability and their recycling capability.
The Austrian Council of Ministers approved a circular econ-
omy strategy in 2022, in which the “9 Rs” form the core points: 
refuse, rethink, reduce, repair, refurbish, remanufacture, 
repurpose, recycle and recover. The EU Taxonomy anchors, 
among others, the transition to a circular economy, waste 
avoidance and recycling (e.g. through regulations cover-
ing the hazardous waste from construction and demolition). 
Investments that fail to meet these requirements are likely 
to face a competitive disadvantage as well as a decline in 
investor demand in the future.
The use of environmentally friendly and durable building 
materials (e.g. timber) creates numerous environmental ben-
efits. They include, among others, the capture of CO2 and a 
reduction in resource consumption. Timber, as a renewable 
raw material, stores carbon over the long term and is charac-
terised by high resilience, strength and load-bearing capacity 
combined with flexibility. Timber also creates time and cost 
benefits through prefabrication and modular construction, 
lower transport costs due to reduced weight and increased 
space through narrower wall construction. And last but not 
least, timber creates excellent living conditions: wood sur-
faces equalise humidity and that has a positive influence on 
the indoor climate.
With timber construction, we  
have the largest lever in our  
hands as a real estate developer.
Increase in  
renewable energy

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U B M  &  E N V I R O N M E N T
The production of steel and concrete, in particular, is CO2 
intensive, and these materials should be recycled when a 
building is demolished. Subsequent recycling capacity can 
be actively included as early as the planning stage, for exam-
ple through the avoidance of inseparable composites. Tim-
ber can be easily recycled – untreated wood can be reused 
or recycled, while dirtied or treated wood can be used as a 
renewable energy carrier. In this way, UBM supports recycling 
in the sense of the circular economy.
Goals and measures in detail:
Sustainable building materials and circular economy
	
 Evaluate the use of sustainable/recycled building  
materials in all new development projects 
	
 Use cradle-to-cradle approach to dismantling for  
all new development projects 
The planning stage for all UBM projects must include and 
evaluate the use of sustainable and/or recycled building 
materials. Circular economy requirements are passed on to 
the planners.
Lifecycle assessments (see section 4.1.2.) are used, above 
all, for building sections with massive components as well 
as building sections with different lifecycles and renovation 
cycles. The results of these lifecycle assessments help UBM to 
optimise the selection of materials and component assembly 
and make an important contribution to resource conservation, 
the reduction of environmentally harmful waste and the return 
to the materials cycle.
In the LeopoldQuartier, the demolition of the existing build-
ing is taking place as sustainably as possible and in line with 
our green. smart. and more. strategy. Special attention is given 
to recycling and the reuse of building materials, and virtu-
ally no landfill deposits are required. Most of the materials 
are separated mechanically at the site, and high priority is 
placed on the shortest possible transport routes to the recy-
cling location. And this effort really pays off: Nearly 95% of 
all materials resulting from demolition can be reused. The 
remaining 5% are hazardous waste (e.g. fluorescent tubes and 
the like) which must be sent to a landfill in accordance with 
legal regulations. The LeopoldQuartier was awarded “Gold“ 
certification by the DGNB for sustainable building demolition.
Activities are also underway to optimise CO2 emissions over 
the entire building lifecycle at the Village project in Vienna’s 
third district.  GRI  2-23, 2-25
4.3. Ground sealing, climate change adjust-
ments and biodiversity
Urban development inevitably leads to interference with the 
local fauna and flora. The direct consequences of construction 
activity include, for example, the reduction of animal habitats 
and an increase in the air temperature in heavily populated 
areas as well as a decline in the regeneration of groundwater 
due to lack of direct rainwater seepage and the resulting risk 
of highwater and flooding. Increased ground sealing changes 
the microclimate – local temperatures increase and new heat 
records are set (heat islands) – which can cause serious health 
problems for the people involved.
The EU Taxonomy requires, among others, the protection of 
healthy ecosystems (e.g. through regulations governing con-
struction sites). Investments that lead to negative effects on 
the ecosystem are likely to face a competitive disadvantage 
as well as a decline in investor demand in the future. Building 
permits in Austria are granted under sustainability aspects 
that also cover the issues of ground sealing and biodiversity.
A directive for deforestation-free supply chains is planned 
at EU level. It will prohibit the marketing of goods (including 
timber and related products) from deforested or damaged 
forestry areas. Market participants will be required to disclose 
precise geographic information on usable areas to permit the 
auditing of compliance with these regulations.
UBM’s goal is to avoid the conversion of natural or undevel-
oped areas as far as possible and, by doing so, limit ground 
sealing. Preference is given to development projects located

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U B M  &  E N V I R O N M E N T
in urban areas which have a previous use and, as a rule, are 
embedded in an existing infrastructure.
Our value chain for real estate development begins with an 
acquisition or the purchase of a site. We never use land in 
protected or sensitive areas for our projects. However, we are 
well aware that the realisation of greenfield projects is invari-
ably connected with intervention in the ecosystem through 
ground sealing, the destruction of free space and other 
aspects. UBM therefore concentrates on brownfield devel-
opments to avoid the conversion of natural or undeveloped 
areas as far as possible and limit ground sealing. Conscious 
interaction with land as a resource and the creation of valua-
ble outside areas help to improve biodiversity. 
In addition to careful use of land as a resource, the preserva-
tion of biological diversity is another important concern. It will 
be reflected in future projects through rooftops with extensive 
and intensive biodiverse green areas and facade greening – 
which will help to reduce the heat island effect in our urban 
areas as well as the heating and cooling load. 
UBM’s focal points for biodiversity are as follows:
	
 Focus on brownfield developments
	
 Biodiversity in designing outdoor facilities
	
 Increase in biological diversity through roof  
and facade greening
	
 Ecologically valuable design and non-invasive greening
The LeopoldQuartier in Vienna, as an example, will include 
spacious green areas – the developed zones will be reduced 
by roughly 15% compared with the former setting, which 
means more than half the property will consist of green areas.
Goal from our sustainability programme:
Brownfield  
development
Goals and measures in detail:
Brownfield development
	
 Increase share of brownfield developments in new  
projects beginning in 2021 to over 66% by 2025  
(cumulative)
As mentioned above, UBM’s acquisition process is focused 
on brownfield developments (land with existing buildings). 
Biodiversity has also been integrated into UBM‘s 360° process 
landscape. The relevant parameters (tree stock, groundwater, 
contamination, previous use, etc.) for all asset classes are sur-
veyed and monitored in accordance with the “Land“ checklist.
Our reporting on development projects is based solely on 
the sealed areas, with a differentiation between greenfield 
and brownfield. 
Brownfield developments represent roughly 71% of the 
33,685 m² GFA in the nine projects completed during 2022.  
GRI  2-23, 2-25

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U B M  &  E N V I R O N M E N T
Green- & brownfield developments – real estate development
Projects
Pipeline  
2021 – 2025
2022
2021
2020
Greenfield developments [number]
9
2
3
2
Brownfield developments [number]
41
7
7
8
Greenfield developments [total property area [m²]]
70,301
9,617
11,038
4,256
Brownfield developments [total property area [m²]]
209,299
24,068
34,640
43,527
Greenfield developments [%]
25
29
24
9
Brownfield developments [%]
75
71
76
91
2021 – 2025: according to time horizon of target regarding greenfield/brownfield. Projects that are composed of different phases or building sites are shown separately.
4.4. Refurbishment and revitalisation
The acquisition of developed land, in part with existing 
buildings, leads to increased requirements for demolition, 
refurbishment or revitalisation. Stricter legal requirements 
for building demolition can be expected in the future, for 
example through the consequent separation of construction 
and demolition waste or the production of quality-assured 
secondary building materials.
Refurbishment projects are a fixed and steadily increasing 
component of UBM’s real estate development portfolio. In 
comparison with demolition and subsequent new construc-
tion, the conversion and revitalisation of existing buildings 
involves lower energy consumption and lower CO2 emissions 
– an important ecological aspect that will also be taken into 
account in the future. Other resource-conserving benefits 
include the use of existing infrastructure, a reduction in new 
soil sealing, less intervention in the existing ecosystems and 
the preservation of existing building substance. The lifecycle 
of a building is extended as a result, and that reduces CO2 
emissions.
 
 
In addition to an increased focus on projects involving revi-
talisation, UBM has set a goal to evaluate all refurbishment 
projects based on sustainability criteria. One of these projects 
underwent building certification in 2022. Of the five renova-
tion and revitalisation projects in UBM’s pipeline at the end 
2022, two were in the construction or development phase. 
9% of the gross floor area of projects in the pipeline (including 
2022) represent revitalisation and/or redevelopment projects.  
GRI  2-23, 2-25

72
U B M  &  E N V I R O N M E N T
Renovation and revitalisation projects – real estate development
 
Pipeline incl. 2022
Type of property
Status
GFA/number
%
New construction projects [number]
44
 90 
Renovation and revitalisation projects [number] 
5
 10 
Development projects [m²] – total
612,228
New construction projects [m²] – total
554,749
91
Renovation and revitalisation projects [m²] – total
57,479
9
Siebenbrunnengasse, Vienna 
Residential 
completed
17,958
Siebenbrunnengasse, Vienna 
Commercial
completed
6,322
Sugar Palace, Prague
Hotel
completed
16,992
Smolensk, Krakow
Residential
under constr.
7,906
Swietnizka, Wrozlaw
Commercial
under dev.
8,302
Projects that are composed of different phases or building sites are shown separately.
GRI 2-23, 2-25
4.5. Healthy building materials and the quality  
	
of life
The use of healthy building materials has a positive influence 
on the indoor climate in UBM‘s buildings and the comfort of 
residents, office tenants and hotel guests. The avoidance of 
harmful substances (e.g. paints, insulating materials, adhe-
sives, synthetic products) can create a pleasant and healthy 
ambiance for everyone involved. The avoidance and pre-
vention of environmental pollution (e.g. through regulations 
covering pollutants in paints, insulation, flooring, etc.), among 
others, are anchored in the EU Taxonomy.
 
 
UBM selects the most appropriate quality level for building 
certification to ensure and confirm the use of healthy build-
ing materials. Timber is a particularly important product with 
regard to living quality and aesthetics: Timber surfaces equal-
ise humidity and therefore have a positive influence on the 
indoor climate. In indoor rooms, timber stands out owing to 
its pleasant haptics, acoustic properties and atmosphere. This 
is due, above all, to the fact that timber provides good thermal 
insulation, and surfaces at room temperature are perceived 
as comfortable.  GRI 2-23, 2-25

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U B M  &  E N V I R O N M E N T
4.6. Water and wastewater utilisation and waste 
in building operations
In the operation of buildings, water and wastewater utilisa-
tion play an important role. The recycling of rainwater and 
grey water as well as water-saving equipment (efficient fittings 
in kitchens and bathrooms) can reduce the consumption of 
fresh water. The EU Taxonomy calls, among others, for the sus-
tainable use and protection of water resources (e.g. through 
requirements for water-efficient fittings and water protection 
management plans).
Water stress areas are areas in which the demand for water 
exceeds the supply during a specific period or areas where 
the usability of existing water supplies is limited by poor qual-
ity. In these areas, water stress leads to the deterioration of 
fresh water supplies for quantitative (overstressing of aquifers, 
dehydration, etc.) and/or qualitative (pollution, salt intrusion, 
etc.) reasons. Due to its geographical focus, UBM is relatively 
unaffected by water stress at the present time.
We implement effective measures in all cases, even where 
consumption is primarily influenced by end users. One exam-
ple is the Mercure Katowice Centrum which was completed 
in 2021: Its 18-metre-high and 260 m2 green facade is much 
more than a popular exterior symbol of the “green and clean“ 
motto. Nearly 7,000 plants root in pockets that are made of 
recycled materials and mounted on textile panels. This vertical 
garden is irrigated with rainwater collected in the basement.
Waste management is also important in building operations. 
The avoidance of waste saves energy and resources, and the 
organised collection of waste allows for correct material recy-
cling. End users, in particular, also play an important role here 
by influencing waste generation and separation.
The following are a few examples of the measures taken in 
our standing assets and Group locations.
 
At the W3 standing asset in Vienna, the anchor tenant and 
facility management have implemented a waste management 
concept. 
The innovative System Smart Waste Solutions created by 
Hailo Digital Hub were implemented at UBM’s location in 
Berlin. Specifically, the conventional waste bins at employees‘ 
individual desks were replaced by central, sensor-controlled 
collection points. The kitchenettes were also equipped with 
intelligent recycling stations. In the sanitary rooms, waste is 
collected in smart individual waste bins. These intelligent 
waste bins are supported by wireless communications and 
allow for mobile, flexible use. 
This solution will make it possible for UBM to collect impor-
tant and very detailed information on waste and, in that way, 
understand how to reduce the amount of waste and alter dis-
posal behaviour. Dashboards were installed to show the cur-
rent level of waste volumes. This information builds awareness 
and increases the motivation to reduce waste as a team. The 
collected data will be used by workshops to develop meas-
ures for the lasting reduction of certain types of waste – and 
will also help the cleaning service to optimise its processes 
by identifying the ideal waste collection times.
We also ensure waste separation at our headquarters in 
Vienna based on an established concept. A digital solution 
for waste management similar to the one used in Berlin is 
also in preparation.
Paperless invoices were introduced throughout the Group in 
2020. That not only led to a significant reduction in paper con-
sumption but also complements the previously established 
controlling systems.  GRI 2-23, 2-25, 303-1, 306-1, 306-2

S O C I A L  means community and 
involvement for UBM. Sustainability  
not only demands an ecological approach  
but also socially farsighted thinking. 
We are working, step by step, to build  
a UBM that also leads the way with  
high social competence. As an employer,  
we support cooperation and fairness.  
As a developer, we create innovative  
building concepts for generations to come.  
And as a good corporate citizen,  
we live our responsibility to society.

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U B M  &  S O C I A L
5. 
UBM & Social  
 
5.1.  
Attractive employer & training and education 
5.2.  Diversity and equal opportunities 
5.3.  Health and safety
5.4.  
Architecture, urban quarter development and social diversity  
5.5.  
Infrastructure and mobility  
5.6.  Customer orientation and awareness raising

76
U B M  &  S O C I A L
Sustainable management is in no way limited to environmen-
tal aspects. It also covers a company‘s social responsibility, in 
other words the impact of its actions on society. 
This also includes fair and responsible interaction with our 
employees in our direct sphere of influence. The women and 
men who work for UBM are an important factor for our long-
term success and essential for the positive development of 
our company. In this connection, we have defined the follow-
ing focus areas:
	
 Attractive employer and training & education 
	
 Diversity and equal opportunities
	
 Health and occupational safety
As a real estate developer, we also have an impact on local 
communities and neighbouring residents. Our projects 
contribute to the quality of life for society. This applies, in 
particular, to urban quarter developments, but is also true 
for residential construction and office buildings. We under-
stand that we change and influence the living environment 
of people with every real estate development project. That 
creates a responsibility which we actively accept. Our goal is, 
wherever possible, to establish a constructive dialogue with 
neighbouring residents and relevant interest groups in the 
areas surrounding the projects and to make an improvement 
through our activities. This added value and neighbourhood 
vitalisation also benefit the project over the long term.
Accordingly, we have defined focal points in the following 
areas:
	
 Architecture, urban quarter development and  
social diversity
	
 Infrastructure & mobility
	
 Customer orientation and awareness creation
We are well aware that we 	
	
change and influence the living 	
environment of people with every 		
real estate development project.
5.1. Attractive employer &  
training and education 
5.1.1. Importance of the issue
Qualified and motivated employees are an important factor 
for our company’s long-term success. Attracting and retaining 
these women and men calls for an environment in which per-
sonal development is possible and community is supported. 
The understanding of work, above all by younger talents, is 
undergoing a paradigm shift that has been accelerated by the 
influence of the Covid-19 pandemic and the rapid increase 
in digitalisation. Values like the meaning of life, the work-life 
balance and creative opportunities are becoming more and 
more important.
New work structures include, above all, greater flexibility for 
working hours and locations. However, a functioning remote 
work culture can never completely replace the office with its 
spontaneous interpersonal contacts, inspiring coincidence, 
and sharing and shaping. Offices will, consequently, not 
become irrelevant, but the requirements will change: That is 
where a company becomes visible, that is where community 
becomes real. The office will become a place where coexist-
ence is lived and new ideas are born.
The study “The State of Skills 2021“ showed that the Covid-19 
pandemic has intensified the need to acquire new skills but 
also reduced development opportunities. Limited possibil-
ities to invest in learning and development, combined with 
rising demands on new skills and competences can cause 
problems at numerous levels over the long term. Employees 
with insufficient expertise will be unable to carry out their 
activities at a higher quality level – and when confidence in 
their own abilities is low, work is perceived as more stressful, 
assignments take longer, and both quality and motivation  
Social responsibility. 
For employees and society.

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U B M  &  S O C I A L
decline. Training and education therefore create benefits 
for the employee as well as the employer. Expanding know-
how and skills, retaining this expertise in the company, and 
supporting innovation by employees guarantees quality and 
satisfaction for everyone involved.
A greater risk for companies is the inability to find, develop 
and retain sufficient specialists and managers. A lack of 
opportunities can lead to lower employee motivation and 
productivity. That, in turn, can increase employee turnover, 
recruiting costs and the loss of know-how in the company. 
In the competition for qualified employees, positioning as an 
attractive employer is decisive. The basis is formed by com-
pliance with the respective national laws governing employ-
ment and working conditions as a minimum standard as well 
as consideration for other frameworks like the recommen-
dations of the International Labour Organisation. Employers 
must respect human rights, reject child labour and forced 
labour, and support the freedom of association, among oth-
ers, and can also influence the following subject areas: fair 
compensation, safe and healthy working conditions, and the 
rejection of discrimination in any form.
Unattractive working conditions can damage a company’s 
reputation – they do not create an environment that welcomes 
young professionals or experienced experts and will signifi-
cantly limit access to the labour market. News of bad experi-
ence with employers in online application platforms or social 
media can also be expected to spread rapidly. In the end, the 
company’s positioning on the market will be weakened with 
an increasing risk that potential employees may wander to 
the competition. GRI  3-3
5.1.2. Our commitment
We owe our success to our talented, committed employ-
ees who take on individual responsibility and want to play 
an active role in designing UBM’s success. UBM supports its 
employees in reaching their personal career goals and offers 
them opportunities for personal growth, diverse training and 
development possibilities, and numerous benefits.
With our values – competent. consequent. transparent. – we 
create a working climate in which each person feels included, 
authorised and called upon to make a personal contribution. 
We encourage our employees to be proactive through short 
decision paths and flat hierarchies.
The design of our working environment reflects our strict 
compliance with the national and international rules and 
requirements in the markets where we are active. We also 
base our actions on agreements that include the Universal 
Declaration of Human Rights, the United Nations Guidelines 
and the international labour standards set by the International 
Labour Organisation. Our activities exceed minimum stand-
ards. This commitment is anchored in our codes of conduct 
(ethics code and code of conduct for business partners, see 
section 6.1.).
Modern workplace & community
Open communications are a central element of our corporate 
values and an important building block for our attractiveness 
as an employer. At all our locations, we create working spaces 
that support interaction, creativity, and the health and per-
formance of our employees. UBM’s headquarters in Vienna, 
for example, include a lounge with table football and darts 
as well as a green inner courtyard and a roof terrace with a 
barbecue area. Specially created “new work zones“ serve as 
multifunctional work areas and give the office a new standing 
as a communication and collaboration platform.
Our Group-wide UBM Day, which is held every two years, 
supports the exchange of information and an open corporate 
culture across business areas and national borders. In addi-
tion to company outings and Christmas parties, we organise 
joint participation in sport events to promote team building.
Work-life balance
We believe it is important to help our employees establish 
a healthy work-life balance and to reconcile their work and 
family life. Individual working time models are part of our 
efforts in this area, and every second Friday is a day off under 
the new “short week/long week” working time model.

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U B M  &  S O C I A L
Rules are in place and formalised in the company agree-
ment to permit care-giving leave for close family members. 
Employees have access to special time off under certain 
circumstances and, of course, all employees are entitled to 
parental leave.
We create a working climate in  
which each and every person feels 
involved, authorised and motivated  
to make a personal contribution.
Performance-based remuneration
With very attractive salary packages and regular bonuses that 
are tied to individual performance and annual results, UBM 
employees participate in the company’s success.  
Career, training and continuing education
Specially planned training and continuing education pro-
grammes are a fixed part of human resources development 
at UBM. The basis is formed by an annual appraisal meeting, 
which includes an agreement on focus topics and specific 
training measures together with the responsible supervisor. 
UBM actively offers numerous educational opportunities 
ranging from internal workshops and idea competitions to 
external training programmes, but also encourages and sup-
ports the independent development of its employees. 
Additional benefits
UBM also provides added benefits that include, among oth-
ers, the reimbursement of costs for environmentally friendly 
mobility like subsidies for public transportation as well as a 
daily lunch allowance. Special projects to help employees 
remain healthy include in-house fitness programmes and a 
subsidy for annual membership of a fitness studio. An impor-
tant part of this policy specifies that these benefits are also 
available to part-time employees. In this respect, UBM does 
not differentiate between full-time and part-time employees. 
GRI  2-23, 2-25, 3-3, 401-2, 404-2, 404-3
We support our employees  
in meeting their career and  
personal development goals.
5.1.3. Organisational structure
At Management Board level, the COO is responsible for per-
sonnel-related issues which are centrally combined under 
human resources. The head of human resources meets 
regularly with the COO to discuss developments in this 
area. Targets, measures and the strategic focus are defined 
together with the Management Board and communicated to 
the organisation. The human resources team also includes 
an HR business partner who implements human resources 
measures together with local management in agreement with 
the HR strategy.  GRI  2-23, 2-24, 3-3

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U B M  &  S O C I A L
5.1.4. Goals and measures
Goals from our sustainability programme:
Minimise  
employee  
turnover
Yearly  
ESG training
Goals and measures in detail:
Recruit the best employees for UBM
	
 Increase the number of applicants
	
 Increase the quality of applicants and continuous 
improvement starting in 2022
	
 Ensure high probability of hiring
To reach these goals, UBM has implemented targeted meas-
ures to establish an employer branding strategy. Its goal is 
to increase the attractiveness of UBM as an employer for 
potential applicants and to continuously improve the candi-
date experience. The related measures include the develop-
ment of a career website, an increased online presence, e.g. 
in LinkedIn or kununu, and the preparation of job and skills 
profiles for all job classifications.
The indicators used to monitor target attainment include the 
number of applications per advertised position, interview 
quota (first survey scheduled for 2022), the offer-acceptance 
rate or time-to-hire after the job advertisement.
Retain the best employees 
	
 Hold employee turnover below 12.5% by 2025
The creation of an employer branding strategy will also 
increase the attractiveness of UBM for existing employees. 
The related measures include a structured onboarding pro-
cess for all new employees, flexible working time models, 
attractive remuneration, regular information for employees 
via internal communication channels, internal opportunities 
for advancement, and the preparation of job and skills pro-
files for all job classifications.
Our internal communication channels were expanded in Feb-
ruary 2022 to include the “HR News”, which provides monthly 
information on personnel issues via the intranet and email. 
The new “short week/long week” working time model was 
introduced in July 2022 to further improve the work-life bal-
ance. Under this model, the redistribution of working time 
makes every second Friday a day off. Welcoming emails and 
the UBM Welcome Day were also added to the onboard-
ing process during the past year and give the Management 
Board and new colleagues from all country organisations an 
opportunity to meet at the headquarters in Vienna. Many 
other events – like the UBM Family Day, breakfast with the 
Management Board and management, the international UBM 
Day and Christmas party – also strengthen the community 
feeling at UBM.
The turnover rate for the entire UBM Group equalled close 
to 15.6% in 2022. Other indicators for internal monitoring 
include the average length of service with the company, the 
share of management positions filled internally and the rec-
ommendation quota.
Train and educate the best employees 
	
 Promote feedback culture – annual appraisals  
with all employees
	
 25 % more training hours per employee by 2025  
(basis 2020)
	
 Make annual ESG awareness training available  
to all employees
Individual, requirement-oriented training measures are 
defined in regular personnel development and feedback 
discussions with employees based on an internal guideline. 
These discussions are held with all employees, regardless of 
the hierarchy level, and reported by the supervisors to HR. 
A project is currently in progress to support the organised 
recording of employee appraisals.
An online tool to collect standardised and comprehensive 
documentation on training was introduced throughout the

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U B M  &  S O C I A L
Group in 2022. The Covid-19 pandemic created an additional 
challenge by limiting the offering and resulting in the cancel-
lation of training courses and seminars. The percentage of 
employees who participated in training has risen from 35% 
in 2021 to 83% in 2022, and the average hours of training per 
employee increased to around 20 hours (2021: 17 hours).
A special training initiative in support of ESG issues was 
launched in 2022: Employees from all branch offices took part 
in the Climate Impact Day to improve their understanding 
of ESG. Mandatory participation ensures that all employees 
benefit equally from this multi-faceted programme. Employ-
ees who were unable to attend due to illness or vacation 
worked through the content independently and confirmed 
their know-how in an online quiz. Other internal events and 
training (e.g. internal courses, projects related to the green. 
smart. and more. initiative) and targeted internal communi-
cation are designed to create a greater awareness for the 
importance of ESG.  GRI  2-23, 2-25, 3-3, 404-3
5.2. Diversity and equal opportunities
A working environment free of discrimination and a culture 
of mutual respect and appreciation throughout the entire 
workforce – these are the requirements for equal opportu-
nities and diversity in a company. A company that does not 
promote diversity and equal opportunities risks damage to 
its reputation and, in the worst case, could be faced with legal 
consequences. The EU reached an agreement in 2022 on a 
gender ratio for corporate management bodies: Beginning 
in 2026, 40% of the supervisory board positions and 33% of 
the combined management and supervisory board positions 
must be given to the underrepresented gender. Poor per-
formance in this area can undermine a company’s position 
on the market and result in the loss of business partners and 
customers. Innovation potential is also lost when the personal 
backgrounds of employees (e.g. migration background, 
nationality, family constellations) are ignored.
The lack of equal opportunities at the workplace (remunera-
tion, etc.) can lead to lower employee motivation and higher 
turnover, which means additional costs and time for new hir-
ing. Moreover, there are signs that the legal requirements 
governing equal opportunities will be strengthened in the 
future.
Fair treatment of our employees and a culture of mutual 
respect and appreciation are obvious at UBM. We treat all 
employees equally – regardless of their ethnic, national or 
social background, disabilities, sexual orientation, political or 
religious conviction, gender, family status or age, economic 
or other standing. Decisive action is taken against any form 
of discrimination.
Goals from our sustainability programme:
Over 30% women  
in management 
positions
Goals and measures in detail:
	
 No salary differences between women and men  
by 2025 (adjusted gender pay gap)
	
 Increase percentage of women in management  
positions to over 30% by 2025
	
 Increase percentage of women in the total workforce  
to roughly 50% by 2025
Diversity has high priority for UBM. It allows us to utilise the 
full potential of the labour market and innovation by includ-
ing people with different backgrounds and viewpoints. The 
employment of staff with different ages and experience is 
encouraged (buddy principle), and the company is increasing 
its efforts to raise the percentage of female employees in the 
organisation.
Activities to sustainably improve equal opportunities include 
recruiting that is focused on the search for suitable female 
candidates. Women are directly addressed through appropri-
ate wording in job advertisements, and clear guidelines give 
preference to women when qualifications and experience are 
equal. In new hiring, there are no salary differences between

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U B M  &  S O C I A L
the genders when the function, qualifications and seniority 
are equal. We are currently working on our first-time survey 
of an adjusted gender pay gap for the entire company, which 
will cover 2022 and form the basis for implementing specific 
measures.
In comparison with other companies in the real estate sector, 
the UBM Group had a positive standing with 22 women in key 
positions (Supervisory Board, managing directors, authorised 
signatories and key staff at UBM Development AG and its sub-
sidiaries) as of 31 December 2022 (2021: 25). The percentage 
of women in management positions equalled 25% and the 
percentage in the total workforce equalled ca. 49% in 2022.
Specific instructions give women  
preference when qualifications  
and experience are equal.
The Supervisory Board does not follow a specific diversity 
concept with regard to the composition of the Management 
and Supervisory Boards because the establishment of diver-
sity targets for control bodies is not seen as expedient or use-
ful. Education and professional experience play a significant 
role because a person under consideration for a Supervisory 
Board position must be capable of optimally performing his 
or her duties. These preconditions are not defined abstractly 
in advance but evaluated on a case-by-case basis. Accord-
ingly, the expertise and specific requirements for the respec-
tive appointment are the only decisive factors in preparing 
proposals for the Annual General Meeting. Women represent 
25% of the positions on the Management Board and 33% on 
the Supervisory Board.  GRI  2-9, 2-17, 2-23, 2-25
UBM implemented a guideline for the prevention and han-
dling of discrimination in 2022. Its goal is to create a greater 
awareness for this issue and ensure professional and cooper-
ative interaction on the job. In this connection, all employees 
have received online training on mobbing and harassment 
at the workplace.
5.3. Health and safety
Work absences can result in financial damages, the loss of 
know-how and lower productivity. In office settings, health 
and injury risks primarily involve ergonomic and psycholog-
ical aspects. (Chronic) illnesses due to incorrect or non-ex-
istent ergonomics in work equipment can lead to increased 
sickness rates over the longer term. Construction sites involve 
health and injury risks, among others through severe or even 
fatal accidents. These accidents have a direct negative effect 
on employees, but also mean additional administrative costs, 
work delays, rising project costs and/or legal consequences 
for the employer.
Our business success is based to a significant degree on 
the commitment and motivation of our employees. As an 
employer, we also feel responsible for their physical and 
psychological health.
Goals and measures in detail:
	
 Hold lost time due to work accidents at a  
low level – goal: zero work accidents
	
 Protect and promote employees’ health
As a real estate developer, support for employees’ physical 
and psychological health in daily office routines plays a cen-
tral role at UBM (e.g. through stress prevention, an occupa-
tional physician, in-house fitness rooms). A major focal point 
for construction sites involves occupational safety measures 
(e.g. accident prevention, acoustic/heat protection including 
training).
UBM has implemented an integrated management system 
to support occupational health and safety which covers all 
employees and meets the highest standards. The Group 
units in Austria (AG and UBM Austria), the Czech Republic 
and Poland are certified under the internationally recog-
nised occupational health and safety management norm  
ISO 45001, and certification was extended to UBM Germany 
in 2022. Of the UBM locations, 99.7% (based on the number 
of employees) are now covered by ISO 45001 certification.

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The project companies in all country organisations are 
responsible for:
	
 Appointing coordinators to ensure safety and health 
protection on all projects
	
 Including these persons in preparations for construction
	
 Planning and construction site coordination during 
realisation 
	
 Preparation of safety and health protection plans
The operational health and safety managers in the individual 
countries organise the following in line with work instructions:
	
 The systematic recording and semi-annual control  
of occupational safety and protection as well as 
non-medical health services, including the collection  
of data on injured employees or fatalities and the  
number of hours worked
	

An overview of the schedule for on-site inspections  
and reports
	
 An annual, recorded overview of the occupational 
safety committee on outstanding issues related to 
health and safety
	
 An analysis of the results and measures implemented 
for improvement and correction 
They submit this information to the reporting officer at UBM 
Development AG in Vienna.
Occupational safety management includes experts like occu-
pational physicians, specialists for occupational safety and 
employee representatives in line with national requirements. 
Safety-related supervision is assigned to a specialist who eval-
uates, among others, potential dangers and carries out safety 
inspections. Written instructions anchor occupational safety 
throughout the company and ensure compliance with high 
safety standards. A new fire protection guideline took effect 
at the headquarters in Vienna during 2022 and was commu-
nicated to all employees at this location. 
The success of these measures is reflected in the number of 
work accidents, which has been extremely low for many years. 
There were no reportable work accidents and no accidents 
with fatal or serious injuries in 2022. Moreover, no work-re-
lated illnesses were recorded.
In addition to strict safety measures, UBM places high pri-
ority on employee health. The related measures include, 
among others, ergonomic workplaces and individual use 
of the in-house fitness rooms. Outdoor athletes can join the 
“UBM Express” and take part in various running events or play 
beach volleyball and paddle tennis with their colleagues. That 
not only supports health but also strengthens the team spirit. 
An occupational physician is also available to assist employ-
ees at UBM’s Vienna location.  GRI  2-23, 2-25, 403-1, 403-2, 403-3, 
403-4, 403-5, 403-6, 403-7, 403-8, 403-9, 403-10

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U B M  &  S O C I A L
5.4. Architecture, urban quarter development 
and social diversity
The coming decades will bring a demographic shift towards 
an ageing and more multinational society. The growing eco-
logical demands on UBM buildings will, in turn, increase to 
include social aspects. Today’s development projects should 
reflect smart, low-barrier/barrier-free and flexible living and 
working to also meet the demands of tomorrow’s users and 
allow people to lead a self-determined life in their own four 
walls as long as possible. The failure to include carefully 
thought-out architectural concepts for buildings and urban 
development projects can result in cost-intensive subsequent 
refitting to meet the needs of the future.
A balanced social and cultural mixture of residents forms the 
basis for the sustainable development of residential areas. 
Smart architecture can increase the quality of social benefits 
as well as the attractiveness and accessibility of buildings for 
users and neighbouring residents. The creation of recrea-
tional and common rooms and shared spaces/activities also 
improves the quality of life in the surrounding area.
Our many years of experience as a real estate developer 
have taught us that development means change and inter-
action. One of our key principles is, consequently, to always 
consider and integrate the socio-cultural environment in our 
projects. For us, that means designing projects to minimise 
the potential negative effects on the local area, for exam-
ple caused by shading, artificial light, noise, emissions and 
increased traffic, or to more than offset these effects through 
positive changes and improvements. The health and well-be-
ing of later users is the focal point of socio-cultural aspects in 
project development. Included here, for example, are room 
temperature, construction acoustics, noise emissions and the 
optical design.
Our projects create living and working space that influences 
the health and well-being of future residents and users. UBM 
therefore places high priority on the ecological assessment of 
the building materials used and the integration of the demo-
graphic shift in its construction projects.
UBM is committed to meeting all applicable legal and nor-
mative requirements on its buildings. But our claim goes far 
beyond that: We always want to exceed legal requirements 
whenever this is important to future users.
The following key aspects for the functionality of buildings 
represent the standard for UBM in planning and realising its 
real estate projects:
	
 Accessibility
	
 Absence of pollutants and constructions ecology
	
 Indoor climate and acoustics
	
 Security 
	
 Visual comfort (look & feel)
UBM sees building certification – through its continuous 
development and adaptation to meet new market demands 
and trends – as an important tool to make sure its projects 
are fit for the future. Evaluation is based on the three-pillar 
principle of sustainability: economy, ecology and society. 
Many UBM projects have already received these certificates 
(see section 4.1), and our goal is to achieve sustainability cer-
tification over the long term for all our projects, also in the 
residential asset class. Every project is designed to meet the  
green. smart. and more. strategy and is subsequently vali-
dated by established certification systems during the plan-
ning and construction phase.  GRI  2-23, 2-25

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U B M  &  S O C I A L
5.5. Infrastructure and mobility
The steady increase in traffic is one of the greatest challenges 
for municipal planning and development. Modern mobility 
concepts are, as a result, becoming more important in real 
estate planning and the design of urban quarters.
Sustainable buildings require an integrated view of the usage 
concept – for the specific building and for its urban quarter. 
That also includes the surrounding economic and social infra-
structure (e.g. shops, schools, workplaces, recreational areas) 
as well as sustainable mobility concepts (car/bike sharing, 
e-mobility). Connections to public transportation, in particu-
lar, create shorter traffic routes and increase the quality of 
living, working and hotel stays.
UBM has accepted this challenge and, for example, devel-
oped a future-oriented mobility concept for the Timber 
Pioneer project in Frankfurt am Main. The goal is to reduce 
the use of private combustion vehicles for conventional des-
tination and origin transportation. The following offering is 
designed to facilitate the changeover to more environmen-
tally friendly means of transport for Timber Pioneer users:
	
 E-charging stations for cars and charging facilities  
for e-bike batteries 
	
 Car sharing with hybrid and/or e-vehicles
	
 E-bike hire stations
	
 Protected bicycle storage areas
	
 Sophisticated bicycle infrastructure, including  
showers and changing rooms for users as well  
as a DIY repair point
Some of these services, for example car sharing and the 
e-bike hire stations, can also be used by the employees in 
the neighbouring F.A.Z. Tower – which creates excellent and 
efficient synergies for both buildings.
At the LeopoldQuartier in Vienna, tenants and owners will be 
able to use e-charging stations in the office and residential 
areas as well as a mobility point with e-cars, e-bicycles and 
e-scooters. The bicycle storage room has also been outfitted 
with showers. The Timber Peak timber hybrid office building 
in Mainz will include e-charging infrastructure in the under-
ground level as well as a car-sharing system. 
The Poleczki Business Park, a UBM standing asset in Poland, 
is currently carrying out a “manage to green“ project that 
involves the refitting of three buildings to include parking 
spaces with e-charging stations. If the test phase is successful, 
e-charging stations will be installed in up to 30% of all parking 
spaces in the business park.  GRI  2-23, 2-25
5.6. Customer orientation and awareness  
	
raising
A focus on the needs of (future) residents and users leads 
to longer satisfaction and can help to reduce conflicts and 
complaints. Customer orientation measures can include the 
early involvement of relevant stakeholders, consideration for 
important issues raised by different social groups, or conflict 
management processes. The creation of a greater aware-
ness for sustainability issues can also improve users’ sense 
of well-being. Insufficient or a complete lack of customer 
orientation can lead to declining revenues, market access 
problems and lower corporate profitability.
UBM wants to create attractive quarters that contribute to 
sustainable urban development and create benefits for the 
general public. These quarters must be resistant to coming 
climate changes to also allow for a high quality of life in the 
future.
The development of an urban quarter means much more 
than just planning and constructing buildings. Many different 
stakeholder groups are involved in these activities, including 
project developers, planners, public authorities and district 
administrators as well as neighbouring residents, and the 
complexity is accordingly high. We involve relevant stake-
holder groups in our planning and development processes 
through early information, participation and co-determina-

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U B M  &  S O C I A L
tion rights. That allows neighbouring residents to express 
their needs and interests and influence results. This approach 
has been embedded in UBM’s process landscape as standard 
since 2021.
We involve relevant stakeholder 	
groups in our planning and 	 	
	
development processes at an early 
stage through information, participa-
tion and co-determination rights.
In this way, initial reservations by a citizens‘ initiative concern-
ing a possible increase in the traffic load near the Gmunder 
Höfe in Munich were successfully dispelled. The goal for this 
project – and for all other UBM developments – is to also 
create an optimal usage mix for the city. In addition to attrac-
tive residential units with parking spaces, day-care centres, 
green and open areas available for public use, other benefits 
include the nearby recreational area along the Isar River and 
good public transportation connections via underground and 
rapid transit railway.
The LeopoldQuartier in Vienna is another example of suc-
cessful participative urban development. This area is under 
development based on specifications set by the city’s devel-
opment commission and the integration of citizens’ concerns. 
Up-to-date information on the progress of construction is 
published on a project website, and an ombudsman service 
is available to deal with wishes, suggestions or complaints.
In close cooperation with the representatives of public 
authorities, decisions are coordinated on relevant issues 
involving the functional mix of the quarter as well as aspects 
like working place comfort, accessibility and the best possible 
reduction of emissions and immissions.
The instruments used to reach these goals are diverse. Green 
areas, climate resilience, facade greening, the use of ground 
storage mass, networking between the buildings, real-time 
data on operating parameters to optimise energy consump-
tion and much, much more are planned for the LeopoldQuar-
tier and will set a new standard for the creation of added 
value. In particular, the green zone – an expanded green 
area in the inner courtyard – is of great importance for the 
area and will contribute to the quality of life for all users and 
neighbouring residents. Special attention is also given to land 
re-naturalisation, the preservation of seepage capability, the 
creation of optimal living conditions for fauna and flora as 
well as rooftops with semi-intensive biodiverse planting. Pho-
tovoltaic elements will also be installed on the roofs to create 
a balance between energy production and climate improve-
ment. The LeopoldQuartier will generate energy on site with 
wells and depth probes. Heating and cooling supplies for 
all buildings in the quarter will be produced centrally and 
CO2 neutral.
Local supplies, social networking and mobility offerings are 
the basic components of this urban quarter development 
project. In addition to shared spaces, shared mobility and 
shared activities, the use of a quarter management app is 
also under evaluation to make the offerings and services 
available to users and neighbours. All these measures will 
help to create smart and green living space that sustainably 
increases and improves the value of the area surrounding 
the LeopoldQuartier.
The LeopoldQuartier represents an important milestone for 
UBM in the implementation of its green. smart. and more. 
strategy for sustainable urban quarter development. Con-
struction is scheduled to start in the second quarter of 2023, 
and completion is planned for mid-2025.  GRI  2-23, 2-25

G O V E R N A N C E , meaning 
good corporate management,  
represents a competitive factor for UBM. 
In addition to the environment and  
social issues, good governance has come  
to play a greater role in the perception  
and valuation of companies. UBM recognised  
this long ago and has also ﬁrmly anchored  
good corporate management at the ESG level.

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U B M  &  G O V E R N A N C E
6. 
UBM & Governance 
 
6.1.  
Corporate governance & compliance
6.2.  Sustainable procurement & regional added value  
6.3.  Innovation & technologies

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U B M  &  G O V E R N A N C E
In addition to ecological and social issues, good governance 
has an increasingly important influence on the perception 
and valuation of companies. For UBM, good governance 
means being viewed as a trustworthy and reliable partner 
by our stakeholders. That is the foundation of our business 
success.
UBM’s values – competent. consequent. transparent. – are 
reflected in our social responsibility: act ethically, accept 
the consequences, communicate transparently. To ensure 
that our values are lived throughout the entire company and 
reflected in our employees‘ everyday activities, our actions 
are based on ethical principles, relevant national and inter-
national legal norms, and internal guidelines.
As an active part of society, we accept our responsibility and 
have identified the following major subject areas as part of 
our materiality analysis:
	
 Corporate governance & compliance
	
 Sustainable procurement & regional added value
	
 Innovation & technologies
6.1. Corporate governance & compliance 
6.1.1. Importance of the issue
Compliance with regulatory requirements and voluntary 
standards is an important part of responsible management. 
The construction and management of properties produces 
social benefits and can help to improve the quality of life, 
but also consumes natural resources and releases hazardous 
substances into the environment which, in turn, increases the 
pressure on (local) public authorities. 
The relevance of compliance and compliance management 
systems has increased significantly in recent years for many 
different reasons. On the one hand, due to numerous new 
legal requirements that are connected with criminal penalties 
and, on the other hand, criminal prosecution is becoming 
more and more consequent. 
Violations of legal requirements not only represent a signifi-
cant risk for companies but are also connected with personal 
consequences for individuals. Companies can face fines, pen-
alties and civil claims by damaged parties. In many cases, 
that can lead to exclusion from public tenders and harm the 
company’s reputation.
Key aspects of real estate development include, above all, 
correct tenders (e.g. for construction services), the fight 
against corruption and bribery, proper working conditions 
and taxation behaviour by subcontractors as well as trans-
parent internal guidelines and conduct rules. 
Companies that fail to meet environmental standards or 
ethical norms will be increasingly penalised by the financial 
markets, with a resulting negative effect on share prices and 
financial stability. Planned regulations (among others, CSRD, 
EU Taxonomy) will require companies in the EU not only to 
meet but also to monitor, comply and expand on this type 
of transparency. 
The issue of human rights along the entire value chain 
deserves special attention and has gained momentum in 
recent years – also in the EU: In addition to various sustain- 
able finance regulations and the proposed Corporate Sus-
tainability Reporting Directive (CSRD), the CSDDD (Corporate 
Sustainability Due Diligence Directive) is currently in prepara-
tion and involves extensive due diligence requirements along 
the supply chain. Germany implemented this type of law  
(“Lieferkettensorgfaltspflichtengesetz”, LkSG) at the begin-
ning of 2023.  GRI 3-3
Governance.  
Living good management.

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U B M  &  G O V E R N A N C E
6.1.2. Our commitment
Responsible actions start at the individual level but, as a 
company, we have a duty and responsibility to create the 
necessary framework. UBM does this, for example, through 
transparent internal directives and a code of conduct, com-
mitment to various corporate governance guidelines and the 
UN Global Compact, and an effective internal compliance 
management system.
Responsible and transparent management has top priority 
for UBM. Compliance with all applicable rules, regulations, 
guidelines, standards and norms in the countries where UBM 
is active goes without saying. The high demands we set for 
ourselves also apply to our business partners and employees. 
UBM’s business model is oriented on ecological, social and 
ethically correct business practices. In order to strengthen the 
integration of ecological and social responsibility along the 
entire value chain, UBM has issued various conduct require-
ments.
Our internal compliance  
management system ensures full  
compliance with legal regulations.
UBM’s focus markets are strictly regulated and controlled 
legal areas with high human rights standards. Nonetheless, 
violations can also occur in heavily regulated markets, and 
respect for human rights is therefore anchored in our internal 
guidelines. We are committed to the ten principles of the UN 
Global Compact which, for example, prohibit child labour 
and forced labour. Our codes of conduct (ethics code and 
code of conduct for business partners) require guarantees 
for fair compensation, workplace safety, support for equal 
opportunities and the freedom of association, for example.
Consequent compliance with applicable national and interna-
tional legal norms as well as our ethical principles safeguard  
the trust of our stakeholders. We are non-partisan and do not 
make any donations to political parties. UBM Development 
AG is listed in the Austrian Register of Tenderers in accord-
ance with the provisions of the Austrian Federal Tender Act 
(“Bundesvergabegesetz”, current version) and ÖNORM A 
2053:2019-02 as well as the 2014/24/EU and 2014/25/EU 
guidelines.
Our responsible and transparent management is based on 
the following cornerstones:
Austrian Code of Corporate Governance
UBM, as an international listed company, has pledged its 
commitment to the Austrian Code of Corporate Governance, 
a voluntary guideline for good management and control. The 
company has also issued rules of conduct in the form of inter-
nal guidelines to ensure transparent and exemplary actions.
Compliance Management System
The compliance management system implemented by UBM 
is intended to minimise the risk of a potential violation of legal 
regulations and ensure adherence to all framework condi-
tions. A compliance management system manual details the 
responsibilities and powers of the compliance organisation 
as well as the processes that implement the related rules and 
guidelines. The Management Board and Supervisory Board 
consider it their responsibility to guarantee the consequent 
implementation of all compliance principles. Our approach 
follows the principle of prevention – disclosure – reaction, 
whereby the focus is on the prevention of incorrect behaviour.
The trust of employees, business partners, customers and 
other stakeholders is strengthened by UBM’s focus on trans-
parency, anti-corruption, fair business practices, the pre-
vention of money laundering and data protection. Internal 
guidelines and work instructions form the framework for the 
necessary procedures. Further information on the guidelines 
can also be found on the website under the menu item “Cor-
porate Governance”.

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U B M  &  G O V E R N A N C E
Examples are:
Guideline: Cartel and Competition Law 
Agreements and coordinated actions with third-party com-
panies that lead to – or aim to lead to – the restriction of 
competition are prohibited and will not be tolerated by UBM.  
Competition-relevant information may not be passed on to 
third parties outside the UBM Group. The founding of a joint 
venture without an antitrust evaluation represents a compli-
ance violation. 
Guideline: Anti-corruption 
For UBM employees, the acceptance of a personal advantage 
represents a compliance violation. UBM employees are pro-
hibited, without exception, from accepting or granting mone-
tary gifts. Granting benefits to employees of private business 
partners is also prohibited. In addition, material gifts and the 
granting of advantages  to employees of public organisations 
are also prohibited without exception. Small invitations and 
gifts can represent part of international business customs or 
cultural practices and are only permitted under strictly regu-
lated circumstances and only in connection with employees 
of non-public organisations.
Guideline: Issuer compliance
UBM has implemented organisational measures to ensure the 
confidentiality of compliance-relevant information to prevent 
market manipulation and the misuse of insider information.
Work instructions: Signatures 
All correspondence with legally or commercially binding con-
tent as well as orders for goods or services must, in principle, 
be signed by two persons (dual control principle) who are 
specifically authorised or designated.
Guideline for the prevention of money laundering and ter-
rorism financing and work instructions: Prevention of Money 
Laundering 
Before a business relationship begins, its purpose and the 
background of the business relationship as well as  the iden-
tity of the business partner or ownership structure for legal 
entities must be precisely identified and regularly monitored. 
The principle here is “know your customer“.
Work instructions: Data Maintenance 360°
Data maintenance and reliable data entry are essential for 
the correct performance of our systems. Further information 
on the 360° process landscape can be found on page 92.
Guideline: Conflicts of Interest
UBM employees must make sure their own interests do not 
come into conflict with their professional obligations or con-
tradict UBM’s obligations towards its business partners. 
Guideline for the prevention of and handling of discrimina-
tion, mobbing and sexual harassment
UBM is committed to creating a working environment that is 
free of discrimination, mobbing and harassment. This guide-
line is intended as a preventive measure by creating greater 
awareness and providing information on these issues. It also 
serves as a parameter for action if discrimination, mobbing 
or sexual harassment should actually occur.
Whistleblower system
UBM operates a whistleblower system as defined in Art. 32 
of the EU’s Market Abuse Directive (“MAR“) and the EU-Whis-
tleblower Directive 2019/1937 which allows employees and 
external persons to report irregularities and (potential) viola-
tions of this regulation. Reports can be submitted directly to a 
staff member in the compliance organisation or sent by email 
to compliance@ubm-development.com or anonymously via 
the link https://secureveal.ubm-development.com in the 
respective country language. The reporting of potential vio-
lations is in the interest of the Management Board as well as 
the management of the Group companies. In agreement with 
Art. 32 of MAR, persons who report violations and persons 
who are accused of violations as well as their personal data 
are ensured of receiving appropriate protection.
Data protection
UBM is committed to the confidential and responsible han-
dling of personal data in agreement with the applicable data 
protection laws – above all the EU General Data Protection 
Regulation and related national legislation. Secure handling

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U B M  &  G O V E R N A N C E
is guaranteed by a data protection manual that includes rules 
for internal data processing, work procedures and their mon-
itoring. Regular employee training creates a greater aware-
ness for this sensitive issue and making sure data protection 
does not drift out of focus.
Ethics code
A separate, binding ethics code forms the basis for all busi-
ness activities and decisions. It is the foundation for moral, 
ethical and legally compliance behaviour by all UBM employ-
ees and is designed to prevent mistakes.
The values and principles contained in the code are based 
on national and international laws and requirements and on 
agreements like the Universal Declaration of Human Rights, 
the European Convention on Human Rights, the United 
Nations Guidelines (above all the Guiding Principles on Busi-
ness and Human Rights), the OECD Guidelines for Multina-
tional Enterprises, and the international labour standards set 
by the International Labour Organisation (in particular the 
Fundamental Principles of the IAO).
The subject areas covered by the ethics code include, among 
others, bribery and corruption, fair competition, fundamental 
and human rights, compliance with economic sanctions and 
export controls, working conditions, occupational safety and 
health, environmental protection, the prevention of money 
laundering, capital market compliance and data protec-
tion. This code has been expressly agreed in writing with all 
employees in their national language since 2021 and is reg-
ularly adapted to reflect developments in the social and reg-
ulatory environment as well as ethic values. The last update 
was completed in 2022.
Further information on the ethics code can also be found on 
our website under the menu item “ESG“. 
Code of conduct for business partners 
We not only place high priority on responsible actions by all 
UBM employees, but also set high standards for our business 
partners. A separate code of conduct for our business part-
ners is firmly anchored in our corporate processes and reg-
ularly adapted to reflect developments in the business and 
regulatory environment and in fundamental ethical values. 
The latest update was finalised in 2022 and included require-
ments for all business partners to strengthen the integration 
of ecological and social responsibility along the entire value 
chain.
This code is based on the same principles and regulations as 
the ethics code and covers issues like bribery and corruption, 
fair competition, fundamental and human rights, compliance 
with economic sanctions and export controls, working con-
ditions, occupational safety and health, environmental pro-
tection, the prevention of money laundering, capital market 
compliance and data protection. The code of conduct applies 
to all business partners from a fee/order volume of € 20,000 
(gross) who sell their products or services to UBM. 
If a business partner refuses to sign the code of conduct, 
any negotiated contracts will not be signed and the com-
pliance officer is immediately informed. He will then decide 
– together with the Management Board – on further proce-
dures. In the event the code is violated, UBM reserves the 
right to undertake suitable measures at any time which, in 
the end, can lead to suspension or immediate termination 
of a contract relationship with the business partner. Tender 
management is now supported by an administrative tool for 
subcontractor declarations.
Further information on the code of conduct for business part-
ners can be found on our website under the menu item “ESG“.

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U B M  &  G O V E R N A N C E
Works Council
UBM has a Works Council with five members who are elected 
every four years. Four of these members are delegated to 
the Supervisory Board, where they make up one third of the 
votes.
UBM supports the freedom of association as defined by the 
respective national frameworks as well as representation on 
the Supervisory Board. The Works Council also takes part in 
collective negotiations in line with legal regulations and with 
UBM’s approval. The ESG Committee also includes one mem-
ber from the Works Council. 
During the 2022 financial year, there were no threats to or 
violations of the above-mentioned freedoms for UBM‘s oper-
ating locations or suppliers.  
Transparent processes
UBM has implemented a variety of rules and processes that 
go beyond legal requirements. These processes are opera-
tionally standardised through an institutionalised 360° prin-
ciple. More specifically: As part of the “Next Level“ efficiency 
programme, all core and support processes for project devel-
opment were reviewed on the basis of defined quality gates 
and ultimately defined for the entire company. Roles and 
responsibilities were clearly assigned in these processes, and 
the control mechanisms were revised and improved. These 
procedures and rules give employees the corresponding 
tools to perform their jobs and support the efficient design 
of processes and controls.
We are convinced that these types of work instructions, 
guidelines and models create transparency, facilitate com-
munication and documentation, and help to make processes 
more efficient. They also make effective controls possible.
UBM has taken the necessary precautions to ensure compli-
ance with legal and internal guidelines, on the one hand, and 
to quickly identify and correct any weak points in business 
and organisational processes, on the other hand.
The internal control system and internal audit
Our internal control system (ICS) is an integral part of our 
business processes. The most important goals of this control 
system are to:
	
 Monitor compliance with business policies and  
defined goals
	
 Safeguard the company’s assets
	
 Guarantee the reliability of accounting and reporting 
	
 Maintain the effectiveness and efficiency of business 
processes
	
 Identify risks at an early point in time 
	
 Reliably assess potential risks
	
 Monitor compliance with legal requirements
	
 Ensure the efficient use of resources and cost savings 
In addition to the internal controls in core processes, UBM 
has installed commercial and technical controlling functions. 
Both report directly to the Management Board. Commercial 
controlling monitors the ongoing development of business 
to identify deviations from targets and, if there are any devia-
tions, ensures that management receives the necessary infor-
mation. Technical controlling monitors project development 
with a focus on schedules, construction costs, construction 
progress and all processes important for technical realisation.  
GRI 2-15, 2-23, 2-25, 2-26, 3-3, 205-2, 407-1
6.1.3. Organisational structure
Compliance management at UBM is installed in the legal, 
corporate and compliance department, which is also respon-
sible for the content of the related guidelines. A compliance 
officer and deputy were appointed by the Management 
Board of UBM AG. The compliance guidelines are prepared 
by the compliance officer in coordination with the Manage-
ment Board and communicated to all employees. All UBM 
employees have digital access to these guidelines.
The compliance officer monitors adherence to the guidelines 
and is also responsible for regular updates to meet changes 
in legal regulations. The compliance guidelines are reviewed 
annually by the compliance officer. Risk analyses, reviews and

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U B M  &  G O V E R N A N C E
internal audits form the basis for continuous monitoring of 
the compliance management system. The compliance officer 
prepares an annual compliance report for the Management 
Board, and the contents include any compliance violations 
discovered.
The key positions in the internal data protection organisation 
are the data protection coordinator and one data protection 
officer in each country who are all appointed by the Manage-
ment Board. The data protection guideline calls for the instal-
lation of a data breach response team for the management 
and reporting of data protection violations in agreement with 
the data protection guideline.
A money laundering officer was also appointed. As part of 
KYC reviews (“know your customer“), he compares the data 
received with sanction lists, entries in the register of eco-
nomic owners, etc. UBM has prepared an extensive money 
laundering risk analysis that is updated regularly. Additional 
information on the KYC reviews can be found on pages 94-95.
The respective organisational units implement the individual 
internal guidelines and work instructions. For example: The 
managing directors of the country organisations are respon-
sible for the operational implementation and control of work 
instructions related to the code of conduct and ethics code.
The quality management department is responsible for pro-
cedural instructions and documents related to the 360° pro-
cess landscape as well as the coordination of and support 
for regular audits and confirmation through ISO certificates.  
GRI 2-16, 2-23, 2-24, 3-3
6.1.4. Goals and measures
Goals from our sustainability programme:
Code of conduct  
for business 
partners
Code of conduct  
for employees
Goals and measures in detail:
Safeguard entrepreneurial compliance and responsible 
actions
Fair business practices and zero tolerance for any form of 
corruption – these principles are a fixed part of our business 
culture. We have implemented the following measures to 
support this approach and anchor these principles in our 
company.
There were no confirmed cases of corruption, proven money 
laundering incidents or other violations of rules and regula-
tions that would have led to fines or non-monetary sanctions 
in 2022 or in the previous years. Furthermore, there were no 
confirmed cases where contracts with business partners were 
cancelled or not extended due to violations involving cor-
ruption, and no confirmed cases that led to the termination 
or warning of employees due to corruption. There were no 
proceedings for anticompetitive behaviour, and no aware-
ness of discrimination incidents.
Whistleblower system
The whistleblower system was expanded in 2022 to cover 
other violations involving UBM’s ethics code and also made 
available in Czech and Polish.
Supervisory Board self-evaluation
The Supervisory Board carried out a self-evaluation of the effi-
ciency of its activities, above all the organisation and working 
procedures, during 2022 in accordance with C-Rule 36 of the 
Austrian Code of Corporate Governance.
Quality management system
ISO 9001 certification is intended to make sure the pro-
cess-oriented quality management system meets the high-
est standards. The corporate units in Austria (UBM AG and 
UBM Austria), the Czech Republic and Poland are certified 
under the international quality management norm ISO 9001 
and UBM Germany successfully completed certification in 
2022. This certification covered 99.7% of UBM’s workforce 
in 2022.

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U B M  &  G O V E R N A N C E
Remuneration model
The possible integration of ESG in the remuneration model 
will be examined more closely: ESG KPIs will be integrated 
in management‘s variable remuneration over the medium 
term. 
Implement guidelines and prevent misconduct by conse-
quent preventive activities
Employee training
The goal of training is to create a greater awareness among 
employees for potential sources of risk and, in this way, 
prevent corruption and anti-competitive behaviour. New 
employees receive training from the compliance depart-
ment immediately after they join UBM. Regular e-learning 
programmes cover compliance with various subjects like the 
anti-corruption guideline and the guideline on antitrust and 
competition law, which are intended to ensure transparent 
and fair market behaviour by employees, and the conflict of 
interest guideline as well as the issuer compliance guideline 
to prevent market abuse.
Most of the classroom training on compliance regulations has 
been converted to virtual programmes since March 2020 due 
to the Covid-19 pandemic. A total of 162 individual training 
sessions on issuer compliance and the prevention of money 
laundering were held in 2022 with employees at the UBM 
locations in Vienna, Prague, Frankfurt and Innsbruck. An 
updated training concept increases the interactive involve-
ment of employees, presents the overall subject of “compli-
ance“ in an understandable form and clearly explains compli-
ant behaviour. The training documents were reworked and, in 
particular, expanded to include current case examples.
UBM implemented an additional guideline in 2022 to deal 
with the prevention and handling of discrimination. All 
employees were then asked to complete online training on 
mobbing and harassment at the workplace.
The compliance team frequently visits training courses, and 
there are additional certifications for selected responsibilities 
(for example, the deputy compliance officer is also certified 
as a compliance officer under ISO 19600). The employees 
designated as the money laundering expert and compliance 
officer also completed their recertification process in 2022 
with Austrian Standards.
The procedure for the distribution of relevant corpo-
rate guidelines to new employees was revised in 2022.  
Employees are notified separately of any relevant changes 
in existing guidelines.
Ethics code
The ethics code is agreed in writing with all new employees 
in their national language. It was last adapted in 2022 to meet 
our sustainability requirements and to strengthen the inte-
gration of ecological and social responsibility. For example, 
the focus on human rights and environmental protection was 
reinforced. Another update is planned for 2023. Increased 
awareness for the importance of ESG is also supported by 
company events and training (like the Climate Impact Day, 
internal courses, projects based on the green. smart. and 
more. initiative) as well as targeted internal communication.
Sampling controls of insider information 
The compliance team carries out sampling controls to mon-
itor compliance with the rules for the distribution of insider 
information and confidential and price-sensitive information. 
The internal measures to prevent the misuse or distribution 
of insider information and confidential and price-sensitive 
information are also evaluated regularly. Additional clarifica-
tion briefings are held if necessary.
Prevention of money laundering and terrorism financing
KYC review of new business partners
Know your customer is one of the basic principles underly-
ing the guideline for the prevention of money laundering 
and terrorism financing and the work instructions on money 
laundering prevention. Full transparency is guaranteed by 
requiring all UBM contract partners to sign an appropriate 
disclosure form. Special focus is placed on transactions and 
the acquisition and sale of apartments. More stringent due 
diligence requirements are connected, among others, with 
transactions involving a greater inherent risk in the sense of 
the guideline on the prevention of money laundering and 
terrorism financing, e.g. for offshore companies, high-risk 
countries and contracts with politically exposed persons. The

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U B M  &  G O V E R N A N C E
money laundering officer uses special procedures to review 
all transactions with an increased risk of money laundering.
Over 200 business partners were extensively reviewed in 
2022.
Internal risk analysis for the prevention of money laundering 
and terrorism financing
UBM Development AG has registered brokerage as one of 
its commercial activities. The related activities are classified 
internationally as having an increased risk of money launder-
ing, and an internal risk analysis was prepared and is updated 
regularly to cover the prevention of money laundering and 
terrorism financing. 
The risk survey questionnaire used for risk analysis is updated 
on a regular basis for all Austrian subsidiaries that are licensed 
for real estate brokerage and submitted to the applicable 
trade authority.  GRI 2-16, 2-23, 2-24, 2-27, 3-3, 205-2, 205-3, 206-1
6.2. Sustainable procurement &  
	
regional added value
Increasing regulations in various European countries require 
the implementation of corporate due diligence procedures 
in supply chains and the creation of greater transparency and 
traceability with regard to origin, removal and subsequent 
processing. The regulation is addressed to direct upstream 
suppliers (general contractors, executing partners) in a first 
step, but will be successively rolled out to cover the entire 
upstream supply chain (raw materials extraction, materials 
producers) and the related working conditions and human 
rights situation.
Goals and measures in detail:
Ensuring ecological & socio-economic compliance in the 
value chain
Compliance with social and ecological criteria in the sup-
ply chain is a key factor for UBM’s sustainable procurement. 
Cooperation with local partner companies (e.g. construction 
companies, architects, planners) also has an impact on the 
local economy. Preference is given to regional suppliers, 
among others, due to shorter delivery distances, cost and 
time savings, and protection for local jobs.
Last but not least, Covid-19 and the related restrictions have 
created a greater awareness for the importance of the local 
economy. As a major customer for construction companies, 
planners and consultants from the region, UBM makes a sig-
nificant contribution to local added value, just like the motto 
says “Think global, order local“. Regional business partners, 
meaning companies near the respective locations, play an 
important role in the realisation of projects. That creates jobs 
and regional added value directly at UBM‘s project locations.
Regional contract awards are definitely a win-win situation. 
On the one hand, local companies are supported and, on the 
other hand, UBM benefits from shorter delivery routes that 
reduce costs, save time and facilitate the delivery of larger 
components. This was demonstrated, among others, by the 
barany.7 project in Vienna, where an Austrian specialist was 
commissioned to erect the building with sustainable and 
energy-saving timber construction. UBM created jobs and 
added value with this project, directly as well as indirectly.
The code of conduct prepared by UBM in 2020 (see section 
6.1.) is designed to ensure that suppliers are also aware of 
their responsibility along the supply chain and contribute to 
the sustainable development of the real estate sector. This 
code is adapted regularly to meet changes in the social and 
regulatory environment and in fundamental ethical values, 
whereby the last update was made in June 2022. A further 
update is planned for 2023. 
A technical solution for compliance documentation was 
implemented throughout the UBM Group in 2022, and a 
central filing system for the signed codes of conduct now 
supports the sampling of supplier confirmation for subcon-
tractor documents. A subcontractor management system 
was also introduced in Germany during 2022. UBM addi-
tionally reviewed the ESG activities of its nine most impor-
tant suppliers from 2021 during the past year. In addition to 
publicly available documents, the following information was 
collected from these business partners: the availability of an 
internal code of conduct, the publication of ESG/sustainabil-

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U B M  &  G O V E R N A N C E
ity reports, the integration of sustainability in the corporate 
strategy, membership in relevant organisations, etc. These 
reviews will also continue in 2023.
A procurement guideline was prepared in 2021 to strengthen 
ecological and social responsibility along the supply chain. 
It defines standardised criteria and requirements for the 
ecologically oriented procurement of office and advertising 
materials, catering and hospitality. Orders for office supplies 
are filtered by sustainability aspects, and refillable and certi-
fied products are purchased wherever possible. The selection 
of an organic fruit supplier for UBM‘s headquarters in Vienna 
ensures deliveries based on seasonal and regional factors, 
and daily meals for employees are supplied by a delivery 
service that offers organic foods.
UBM covers all dimensions of sustainability in its develop-
ment projects, meaning we always consider and respect eco-
logical, economic and socio-cultural aspects. This is under-
scored by our goal to arrange for the audit and certification 
of our projects based on recognised sustainability seals like 
DNGB, ÖGNI, LEED or BREEAM.
These certifications also involve external experts and auditors 
to confirm the relevant quality level for building materials. 
Minimising the environmental impact of a building during 
its entire lifecycle requires a focus during the planning stage 
on the efficient use of heating energy, electricity and water as 
well as wastewater disposal. The economic dimension covers 
the construction costs as well as subsequent building costs 
incurred over the entire usage period or lifetime of the build-
ing.  GRI 2-23, 2-25
6.3. Innovation & technologies
Internal and external research activities and innovations for 
sustainable buildings are relevant for the entire added value 
chain, whereby organisational, social and technical issues are 
considered. 
The use of smart building technology (e.g. sensors for smart 
ventilation, intelligent shading), for example, can make an 
important contribution to energy savings and efficiency 
improvements and, in this way, reduce the negative impact on 
people and the environment. An urban quarter that incorpo-
rates social aspects, e.g. communication areas and interactive 
commercial zones (co-working spaces, etc.) contributes to 
the social structure and interaction in the quarter.
smart. is UBM’s keyword above all for new optimisation and 
control technologies as well as digitalisation. These activities 
are focused on the following:
The green. smart. and more. initiative
In line with the above-mentioned management approach, 
the green. smart. and more. initiative plays a very special role. 
It is backed by a Group-wide brainstorming campaign from 
2020 that covered several months and involved the entire 
workforce. The focus was placed on the following seven core 
issues which were defined in a dialogue between the Man-
agement Board and Executive Committee:
	
 Design & Construction
	
 Energy
	
 Building Operations
	
 Look & Feel
	
 User Services
	
 Technology & Data
	
 Mobility
Ideas and concepts were developed for these core areas as 
answers to the challenges created by climate change. The 
prevention of emissions, use of resource-efficient building 
materials, increase in energy efficiency and the greater inte-
gration of technological solutions are only a few of the key-
words. The areas of Design & Construction, Energy and Build-
ing Operations, in particular, offer “green” starting points.

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U B M  &  G O V E R N A N C E
UBM responded with the following flagship projects:
	
 barany.7: timber residential construction accompanied 
by a study from the University of Applied Sciences 
Vienna Campus
	
 Timber Pioneer: Frankfurt’s first office building in timber 
hybrid construction
	
 Quarter certification for the LeopoldQuartier:  
Europe’s first urban quarter in timber construction 
(Vienna) obtains 100 % of its energy from renewable 
sources
	
 Arcus City: the first multi-storey timber construction in 
the Czech Republic
	
 Timber Peak: the first timber hybrid high-rise in Mainz
The goals for green building certification were also reset. As 
in the past, all new commercial buildings will be certified.
Moreover:
	
 Since 2021 certification has focused not only on com-
mercial projects but also on all new residential construc-
tion projects scheduled for global sales.
	
 The certification of a listed revitalisation project was 
completed.
	
 Quarter certification is targeted – with the LeopoldQuar-
tier as a flagship project.
The core issues of User Services, Technology & Data and 
Mobility are designed to make UBM’s real estate develop-
ment “intelligent“ through the use of technological solutions 
and, as a result, improve and individualise the user experi-
ence. As early as the planning stage, UBM ensures that build-
ings are equipped for future “smart“ trends – like the Internet 
of Things (IoT) or sensors – and can be adapted accordingly.
Future-oriented mobility concepts will also play a role in quar-
ter development projects through the interaction of e-mo-
bility, shared services and intelligent parking concepts. The 
needs of users and the local environment can therefore be 
met with the highest possible level of efficiency and resource 
protection.
In order to be optimally positioned for the future, UBM cre-
ated the Smart Building Innovation Foundation (SBIF) in 2022. 
This non-profit foundation provides a platform for partners 
from industry and science to develop technical application 
solutions for smart buildings. Further information can be 
found in section 4.1.2.
Digitalisation of the UBM working world 
The Covid-19 pandemic has increased our awareness of the 
central role played by digitalisation in keeping the econ-
omy, educational system and society running smoothly dur-
ing lockdowns. UBM has made massive investments in the 
Group’s digitalisation in recent years and plans to continue 
these efforts in the future.
UBM launched the “Next Level“ project in 2017 to digitally 
map operating and work processes as well as reporting and 
controlling at corporate level. The “newBM“ project started 
in 2020 and is intended to take UBM’s digitalisation a great 
qualitative leap forward, especially in the commercial areas 
but also in IT and infrastructure.
The “newBM“ project included the development of an SAP 
S/4 HANA system based on standard processes and SAP best 
practices for 250 companies. A modern system supports the 
full digital management of HR processes, and a central treas-
ury system safeguards the encrypted, safe and integrated 
handling of payment flows throughout the Group. The IT con-
version also includes the latest IT equipment and is focused 
on productivity, security and flexible working.
At the SAP Quality Awards 2022, UBM was a winner in the 
category “Rapid Time To Value“. SAP uses this awards cere-
mony to recognise companies that demonstrate particularly 
innovative performance in the digitalisation of business pro-
cesses.  GRI 2-23, 2-25

I M P O R T A N T  I N F O R M A T I O N

99
7. 
Important information
7.1.  
About this report
7.2.  
GRI Index
7.3.  
Key indicators
7.4.  
Report on the independent assurance
7.5.  
Imprint

100
I M P O R T A N T  I N F O R M A T I O N
7.1. About this report
This report is UBM’s third ESG report and sixth publication 
on sustainability issues. It provides information on the 2022 
financial year of UBM Development AG.
UBM published its first sustainability report in 2017, which 
was based on the guidelines of the Global Reporting Initiative 
(GRI). In 2018 and 2019, sustainability issues were handled 
in a more compact non-financial statement that was part of 
financial reporting and the annual report. The report for 2020 
was prepared in agreement with the GRI standards “Core 
Option“.
This report on the 2022 financial year – similar to the report 
on the 2021 financial year – was prepared in accordance with 
§ 267a of the Austrian Commercial Code (“Unternehmens-
gesetzbuch”) and the GRI Standards 2021. The financial year 
of UBM Development AG is based on the calendar year and 
covers the period from 1 January to 31 December. The next 
report is planned for 2024 and will include information on 
the 2023 financial year.
The report contents reflect the major thematic areas rele-
vant for UBM, whereby there were no changes in compar-
ison with 2021. Any new presentation of information from 
previous reports is documented in the footnotes beginning 
on page 108. The reported indicators, where available, also 
cover 2021 and 2020.
The management of UBM Development AG is responsible for 
preparation of the report content. An external review with lim-
ited assurance was carried out by PwC (see page 123). If you 
have any questions or suggestions on this report, please feel 
free to contact UBM at esg@ubm-development.com. Current 
information on sustainability can also be found on our web-
site under the menu item “ESG“.
Gender-neutral language was used in the report, where pos-
sible, to improve readability and the flow of the text, and no 
distinction was made between the genders. In the sense of 
equal opportunities, corresponding terms generally apply to 
all genders.
Scope of consolidation
This report covers the corporate locations, standing assets 
and development projects of UBM Development in Austria, 
Germany, Poland, the Czech Republic and other markets.
In the hotel business, which was a focal point of activities 
before the strategic reorientation, UBM took over the role 
of the lessee in selected cases following the sale of the 
respective properties. The hotel leasing business was bun-
dled under UBM hotels Management GmbH in 2016, and 
UBM holds an interest of 50% in this company today. Large, 
international hotel chains have been engaged for the oper-
ational management of these houses, whereby preference is 
given to partners who are aware of their ecological and social 
responsibility and have appropriate certification. This report 
does not deal with environmental issues related to the hotel 
operating company, which represents an equity-accounted 
investment, because UBM is unable to control the related 
measures and guidelines.
The indicators in the section on the environment cover all 
standing assets with a Group investment of more than 50%, 
all Group locations with more than 5% of the total workforce, 
and all projects. ESG reporting will be continuously advanced 
and improved. The ESG cockpit was introduced in 2022 to 
support these efforts. It includes the CO2e factors from the 
ecoinvent database which form the basis for the calculation 
of emissions starting in 2022. 
Where actual consumption figures are not available, esti-
mates are used (mainly for project development, where 
the energy consumption is calculated as per certificates). 
Details are provided in the footnotes starting on page 108.  
GRI 2-2, 2-3, 2-4, 2-5, 2-14, 3-2
Also worth knowing

101
I M P O R T A N T  I N F O R M A T I O N
7.2. GRI Index 
Statement of use
UBM Development has reported in accordance with the GRI Standards for the period  
01.01.2022-31.12.2022.
GRI 1 used
GRI 1: Foundation 2021
Applicable GRI Sector Standard(s)
none apply
GRI Standard
Disclosure
Page
Omission, Reason
UNGC, TCFD
General disclosures
GRI 2:  
General 
Disclosures 
2021
2-1
Organisational details
6, 10
2-2 
Entities included in the  
organisation’s sustainability  
reporting
10, 100
2-3 
Reporting period, frequency  
and contact point
55, 100
2-4 
Restatements of information
100
2-5
External assurance
55, 100,  
123-125
2-6 
Activities, value chain and  
other business relationships
6, 8-10,  
12-13
UNGC 1-7
2-7
Employees
114-115
UNGC 6
2-8 
Workers who are not employees
114-115
UNGC 6
2-9 
Governance structure and  
composition
10-11, 34-37, 
80-81
TCFD  
Governance
2-10
Nomination and selection of  
the highest governance body
34-37
2-11 
Chair of the highest  
governance body
34-37
2-12 
Role of the highest  
governance body in  
overseeing the  
management of impacts
34-37, 40-41
TCFD  
Governance, 
Risk Manage-
ment, KPIs & 
Targets
2-13
Delegation of responsibility for 
managing impacts
10-11, 34-37
TCFD  
Governance
2-14 
Role of the highest governance 
body in sustainability reporting
55, 100
TCFD  
Governance

102
I M P O R T A N T  I N F O R M A T I O N
GRI Standard
Disclosure
Page
Omission, Reason
UNGC, TCFD
GRI 2:  
General 
Disclosures 
2021
2-15
Conflicts of interest
34-37, 89-92, 
Annual 
Report  
p. 104-105
UBM does not hold any shares in 
other companies.
2-16
Communication of  
critical concerns
92-95
2-17 
Collective knowledge of the  
highest governance body
34-37, 80-81
TCFD  
Governance
2-18 
Evaluation of the performance of 
the highest governance body
34-37,  
Annual 
Report p. 98, 
108-109
2-19
Remuneration policies
10-11, 34-37
2-20 
Process to determine remuneration
34-37,  
Annual 
Report p. 98, 
108-109
2-21 
Annual total compensation ratio
114-115
2-22 
Statement on sustainable  
development strategy
3, 10-11
TCFD  
Strategy
2-23
Policy commitments
32, 61-63, 
68-73, 77-85, 
89-97
UNGC 1-7, 
10
2-24
Embedding  
policy commitments
32, 34-37, 
63, 78, 92-95
2-25 
Processes to remediate  
negative impacts
61-63, 68-73, 
77-85, 89-92, 
95-97
2-26 
Mechanisms for seeking  
advice and raising concerns
89-92
UNGC 10
2-27 
Compliance with laws  
and regulations
93-95,  
120-121
UNGC 8
2-28
Membership associations
57
2-29 
Approach to stakeholder  
engagement
37-41
2-30
Collective bargaining agreements
114-115
UNGC 3

103
I M P O R T A N T  I N F O R M A T I O N
GRI Standard
Disclosure
Page
Omission, Reason
UNGC, TCFD
Material topics
GRI 3:  
Material  
Topics 2021
3-1 
Process to determine  
material topics
40-41
3-2
List of material topics
40-41, 100
Corporate governance & compliance
Anti-corruption
GRI 3:  
Material  
Topics 2021
3-3 
Management of  
material topics
88-95
GRI 205:  
Anti- 
corruption 
2016
205-1 
Operations assessed for  
risks related to corruption
54
SDG 16.5
UNGC 10
205-2 
Communication and training  
about anti-corruption policies  
and procedures
89-95,  
120-121
205-2 d: A breakdown of training by 
employee category is not available 
for the reporting period. All mem-
bers of the Board participated in 
internal compliance and anti-money 
laundering training courses.
SDG 16.5
UNGC 10
205-3 
Confirmed incidents of corruption 
and actions taken
93-95,  
120-121
Anti-competitive behaviour
GRI 3:  
Material  
Topics 2021
3-3 
Management of material topics
88-95
GRI 206: Anti- 
competitive 
Behaviour 
2016
206-1 
Legal actions for anti-competitive 
behaviour, anti-trust, and monopoly 
practices
93-95,  
120-121
SDG 16.3
UNGC 10
Freedom of association and collective bargaining
GRI 407: 
Freedom of 
Association 
and Collective 
Bargaining 
2016
407-1
Operations and suppliers in which 
the right to freedom of association 
and collective bargaining may be 
at risk
89-92
SDG 8.8, 
UNGC 3

104
I M P O R T A N T  I N F O R M A T I O N
GRI Standard
Disclosure
Page
Omission, Reason
UNGC, TCFD
Energy efﬁciency, renewable energies & CO2 emissions
Energy
GRI 3:  
Material  
Topics 2021
3-3 
Management of  
material topics
61-68
TCFD KPIs & 
Targets
GRI 302:  
Energy 2016
302-1 
Energy consumption  
within the organisation
108-111
302-1 d: n/a (not relevant for UBM’s 
business activities)
SDG 7.2, 7.3, 
8.4, 12.2, 
13.1,  
UNGC 7, 8
302-2 
Energy consumption  
outside of the organisation
108-112
302-3 
Energy intensity
108-112
SDG 7.3, 8.4, 
12.2, 13.1, 
UNGC 8
302-4
Reduction of energy consumption
108-109
302-5 
Reduction in energy requirements 
of products and services
112
Emissions
GRI 3:  
Material  
Topics 2021
3-3 
Management of  
material topics
61-68
TCFD Gov-
ernance, Risk 
Management, 
KPIs & Targets
GRI 305: 
Emissions 
2016
305-1 
Direct (Scope 1) GHG emissions
108-109, 112
SDG 3.9, 
12.4, 13.1, 
14.3, 15.2, 
UNGC 7, 8
305-2
Indirect (Scope 2) GHG emissions
108-112
305-3 
Other indirect (Scope 3)  
GHG emissions
108-112
305-4 
GHG emissions intensity
112
SDG 13.1, 
14.3, 15.2, 
UNGC 8
305-5
Reduction of GHG emissions
108-109
305-6
Emissions of ozone-depleting  
substances (ODS)
n/a (not relevant for UBM’s business 
activities)
305-7 
Nitrogen oxides (NOX), sulfur  
oxides (SOX), and other significant 
air emissions

105
I M P O R T A N T  I N F O R M A T I O N
GRI Standard
Disclosure
Page
Omission, Reason
UNGC, TCFD
Attractive employer & training and education 
Employment
GRI 3:  
Material  
Topics 2021
3-3 
Management of 
material topics
76-80
GRI 401: 
Employment 
2016
401-1 
New employee hires  
and employee turnover
114-115
SDG 5.1, 8.5, 
8.6, 10.3, 
UNGC 6
401-2 
Benefits provided to full-time 
employees that are not provided to 
temporary or part-time employees
77-78
SDG 3.2, 5.4, 
8.5
401-3
Parental leave
116-117
SDG 5.1, 5.4, 
8.5, UNGC 6
Training and education
GRI 3:  
Material  
Topics 2021
3-3 
Management of  
material topics
76-80
GRI 404: 
Training and 
Education 
2016
404-1 
Average hours of training 
per year per employee
116-117
SDG 4.3, 4.4, 
4.5, 5.1, 8.2, 
8.5, 10.3, 
UNGC 6
404-2 
Programmes for upgrading  
employee skills and transition  
assistance programs
77-78
b: with the exception of partial 
retirement, no transitional assistance 
programs.
SDG 8.2, 8.5, 
UNGC 6
404-3
Percentage of employees 
receiving regular performance  
and career development reviews
77-80
SDG 5.1, 8.5, 
10.3, UNGC 6

106
I M P O R T A N T  I N F O R M A T I O N
GRI Standard
Disclosure
Page
Omission, Reason
UNGC, TCFD
Further disclosures
Water and effluents
GRI 303: 
Water and 
effluents 2018
303-1
Interactions with water as a shared 
resource
73
b, c, d: n/a (not relevant for UBM’s 
business activities)
SDG 6.3, 6.4, 
6.a, 6.b, 12.4, 
UNGC 7, 8, 
9, 19
303-2 
Management of water discharge- 
related impacts
n/a (not relevant for UBM’s business 
activities)
303-3
Water withdrawal
303-4
Water discharge
303-5
Water consumption
108-111
c: n/a (not relevant for UBM’s  
business activities)
Waste
GRI 306: 
Waste 2020
306-1
Waste generation and significant 
waste-related impacts
73
SDG 3.9, 6.3, 
12.4, 12.5, 
15.1, 
UNGC 7, 8, 9
306-2 
Management of significant 
waste-related impacts
73
b: n/a (not relevant for UBM’s  
business activities)
306-3
Waste generated
108-111
306-4
Waste diverted from disposal
108-111
Only recycling offsite of non- 
hazardous waste is relevant for 
UBM’s business activities.
306-5
Waste directed to disposal
108-111
Only landfilling offsite of non- 
hazardous waste is relevant for 
UBM’s business activities.
Occupational health and safety
GRI 403: 
Occupational 
health and 
safety
403-1
Occupational health and safety 
management system
81-82
SDG 3.3, 3.4, 
3.5, 3.6, 3.7, 
3.8, 3.9, 8.8, 
16.1, 16.7, 
UNGC 3, 8
403-2 
Hazard identification, risk assess-
ment, and incident investigation
81-82
403-3
Occupational health services
81-82
403-4
Worker participation, consultation, 
and communication on  
occupational health and safety
81-82

107
I M P O R T A N T  I N F O R M A T I O N
GRI Standard
Disclosure
Page
Omission, Reason
UNGC, TCFD
GRI 403: 
Occupational 
health and 
safety
403-5
Worker training on occupational 
health and safety
81-82
SDG 3.3, 3.4, 
3.5, 3.6, 3.7, 
3.8, 3.9, 8.8, 
16.1, 16.7, 
UNGC 3, 8
403-6
Promotion of worker health
81-82
403-7
Prevention and mitigation of 
occupational health and safety 
impacts directly linked by business 
relationships
81-82
403-8
Workers covered by an  
occupational health and safety 
management system
81-82
403-9
Work-related injuries
81-82,  
118-119
403-10 Work-related ill health
81-82,  
118-119
Diversity and equal opportunity
GRI 405: 
Diversity and 
equal  
opportunity 
2016
405-1
Diversity of governance bodies and 
employees
118-119
a ii. and b ii.: not available in current 
data structure
SDG 5.1, 5.5, 
8.5, 10.3,
UNGC 6
405-2 
Ratio of basic salary and  
remuneration of women to men
118-119
Non-discrimination
GRI 406: 
Non-discrimi-
nation 2016
406-1
Incidents of discrimination and 
corrective actions taken
120-121
SDG 5.1, 8.8,
UNGC 6

108
I M P O R T A N T  I N F O R M A T I O N
Environmental indicators – Group locations
Key indicators
7.3. Key indicators
ENERGY CONSUMPTION1
Total energy consumption business operations
GRI 302 – 1  
Energy consumption within the organisation 
 
 
 
Energy from renewable sources
Energy from non-renewable sources
Electricity
Natural gas
District heating & cooling energy consumption
GRI 302 – 3  
Energy intensity 
Energy intensity business operations
Total commercial space
Total fuel consumption
GRI 302 – 1  
Energy consumption within the organisation
Energy consumption company cars diesel 
Energy consumption company cars petrol
GRI 302 – 2                
Energy consumption outside of the organisation 
 
Energy consumption diesel (leasing) 
Energy consumption petrol (leasing) 
Air travel
WASTE & WATER2
GRI 303 – 5 Water consumption 
Total water consumption from all areas
Total water consumption from area with water stress
GRI 306 – 3 Waste generated 
Total weight of waste generated
Total weight of non-hazardous waste generated
GRI 306 – 4 Waste diverted from disposal
Non-hazardous waste diverted from disposal – recycling offsite
GRI 306 – 5 Waste directed to disposal
Non-hazardous waste directed to disposal – landfilling offsite
EMISSIONS3
GRI 305 – 1  
Direct emissions  
(Scope 1) 
Natural gas
Energy consumption diesel 
Energy consumption petrol 
GRI 305 – 2 
Indirect emissions  
(Scope 2)
Electricity
District heating & cooling
GRI 305 – 3 
Other indirect emissions  
(Scope 3) 
 
 
 
Energy not included in scope 1 or 2
Waste generated in operations
Energy consumption diesel (leasing) 
Energy consumption petrol (leasing) 
Air travel
Scope 1+2+3
Total emissions
1	 Key for calculation of renewable energy: 
2022: information provided by the energy supplier (estimate for CZ), 2021: information provided by the energy supplier (AT, DE, PL) and internal data (CZ), 2020:  
information provided by the energy supplier (DE, PL) and internal data (AT, CZ) 
DE 2022: ALBA was sold in June 2022 and is therefore not reported (one reason for the decrease in energy consumption, GRI 302 – 4). DE 2021 & 2020:  
energy consumption is extrapolated from available previous years
2	 Data on waste and water are only available for 2022 for the sites in Poland and the Czech Republic; work is underway to expand this.
3	 Classification of emissions based on the Greenhouse Gas Protocol, operational control approach (GWP: AR5), base year: 2020. 
Greenhouse gases included in the calculation: CO2, CH4, N2O, HFC, PFC, SF6, NF3, biogenic CO2 emissions.  Sources for emission factors:  
2022: AT, PL, DE, CZ ecoinvent (automatic calculation in ESG Cockpit); excluding ALBA (sold) 
2021: AT, PL, DE information provided by the energy supplier and Sphera GaBi v14; CZ Sphera GaBi v14

109
I M P O R T A N T  I N F O R M A T I O N
2021
2020
Unit
Total
AT
DE
PL
CZ
Total6
Total
kWh
 714,559 
252,541
167,277
133,517
161,225
 985,326 
 756,842 
kWh
 173,805 
72,813
23,420
 77,571 
0
 161,726 
 150,508 
kWh
 540,755 
179,728
143,856
55,946
161,225
 823,600 
 547,447 
kWh
 253,577 
75,809
75,791
 75,014 
 26,963 
 246,608 
 302,148 
kWh
0
0
0
0
0
 20,869 
0
kWh
 460,982 
176,732
91,486
 58,503 
 134,262 
 717,849 
454.6944
kWh/m2
 98 
 73 
 82 
 145 
 190 
 102 
927
m2
 7,260 
 3,449 
 2,044 
 919 
 848 
 9,619 
7.7465
kWh
 1,904,346 
 1,006,419 
 393,601 
 321,626 
 182,701 
 2,099,238 
 2,021,109 
kWh
 387,155 
387,155
0
0
0
 225,898 
kWh
 105,936 
105,546
389
0
0
 46,372 
kWh
 653,957 
307,059
62,499
 119,562 
 164,836 
 998,830 
kWh
 504,439 
0
307,791
 178,783 
 17,865 
 734,420 
kWh
 252,860 
206,658
22,922
23,280
0
195,161
241,227
Ml
 0.2 
 0.2 
Ml
0
0
t
 1.8 
 1.7 
 0.1 
t
 1.8 
 1.7 
 0.1 
t
 1.7 
 1.7 
0
t
 0.1 
0
 0.1 
   
t CO2e
0
0
0
0
0
 4 
0
t CO2e
 90.4 
 90.4 
0
0
0
 52 
 11 
t CO2e
 10.6 
 10.5 
 0.1 
0
0
 4 
 5 
t CO2e
 84.6 
 18.6 
 29.1 
 7.7 
 29.2 
 121 
 82 
t CO2e
 69.8 
 13.1 
 17.6 
 1.2 
37.9
 108 
813
t CO2e
 44.6 
 12.9 
 20.7 
 1.7 
 9.3 
t CO2e
 1.0 
 0.6 
 0.4 
t CO2e
 129.0 
 39.8 
 12.6 
 32.3 
 44.4 
 224 
 318 
t CO2e
 92.6 
0
 42.7 
 45.1 
 4.8 
 196 
 188 
t CO2e
 181.8 
 148.6 
 16.5 
 16.7 
0
 140 
 173 
t CO2e
 704.5 
 334.0 
 139.2 
 105.3 
 126.0 
 850 
 776.6 
2020: AT, PL, CZ Austrian Federal Environmental Agency; DE German Federal Environmental Agency 
Company cars: according to manufacturer's specifications; air travel: according to airline tickets (analysis from the travel management  
providers responsible for flight reservations – correction 2021 and 2020)
4	 Extrapolation is not possible for 2020 for DE ALBA district heating because the reference values are insufficient.
5	 Total space 2020 excluding ALBA.
6	 District heating for 2020 in Germany is an estimate based on the consumption of the last three years (2017–2019). 
Therefore, it is not possible to allocate the district heating for DE to renewable and non-renewable sources.
7	 Energy intensity 2020 excludes the ALBA locations because the data for 2020 is not representative.
Note: all locations with >5% of total employees included. Miscellaneous other locations are not included because they are responsible for only minimal  
consumption or because the consumption is calculated as a flat rate.

110
I M P O R T A N T  I N F O R M A T I O N
Environmental indicators – Standing assets
ENERGY CONSUMPTION1
GRI 302 – 1 
Energy consumption within the organisation
Space (not rented space)
Total energy consumption
Energy from renewable sources
Energy from non-renewable sources
Electricity
Natural gas
District heating
GRI 302 – 2 
Energy consumption outside of the organisation
Space (rented space)
Total energy consumption
Energy from renewable sources
Energy from non-renewable sources
Electricity
Natural gas
Cooling energy
District heating
Energy consumption total (inside + outside)
GRI 302 – 3 
Energy intensity
Energy intensity
Usable space
WASTE & WATER
GRI 303 – 5  
Water consumption
Total water consumption from all areas
Total water consumption from area with water stress
GRI 306 – 3  
Waste generated
Total weight of waste generated
Total weight of non-hazardous waste generated
GRI 306 – 4  
Waste diverted from disposal
Non-hazardous waste diverted from disposal – recycling offsite
EMISSIONS2
 
GRI 305 – 2 
Indirect emissions  
(Scope 2)
Natural gas
Electricity
District heating
GRI 305 – 3  
Other indirect emissions  
(Scope 3)
Rented space
Electricity
District heating
Natural gas
Waste generated in operations
Scope 1+2+3
Total emissions
1	 Key for calculation of renewable energy: 
2022: according to information provided by the energy supplier, 2021: according to information provided by the energy supplier (AT, PL) and according  
to internal data (CZ, HR, DE), 2020: according to information provided by the energy supplier (PL) and according to internal data (AT, CZ, HR, DE)
2	 Classification of emissions based on the Greenhouse Gas Protocol, operational control approach (GWP: AR5). Base year: 2020 (base year for target regarding  
CO2 intensity). Greenhouse gases included in the calculation: CO2, CH4, N2O, HFC, PFC, SF6, NF3, biogenic CO2 emissions. For Poleczki Park in Poland,  
Guarantees of Origin were purchased for 2021 and 2022 to neutralize emissions from electricity consumption, due to the lack of availability of green electricity.

111
I M P O R T A N T  I N F O R M A T I O N
20213, 4
20203
Unit
Total
AT
PL
Total
Total
m2
 4,979 
 489 
 4,490 
 906 
 5,214 
kWh
 132,814 
0
 132,814 
 42,772 
 328,597 
kWh
 84,197 
0
 84,197 
 7,605 
 13,898 
kWh
 48,618 
0
 48,618 
 35,167 
 314,700 
kWh
 88,609 
0
 88,609 
 42,772 
 168,563 
kWh
0
0
0
0
0
kWh
 44,206 
0
 44,206 
0
 160,034 
m2
 126,497 
 21,046 
 105,451 
 130,014 
 134,812 
kWh
 24,792,567 
 3,929,547 
 20,863,020 
 23,530,656 
 25,171,216 
kWh
 12,655,583 
 1,527,986 
 11,127,598 
 5,373,086 
 3,573,616 
kWh
 12,136,984 
 2,401,561 
 9,735,423 
 18,157,569 
 21,597,600 
kWh
 15,573,584 
 1,609,250 
 13,964,334 
 14,292,189 
 15,355,413 
kWh
 168,927 
 168,927 
0
 446,948 
 187,728 
kWh
 599,370 
 599,370 
0
 - 
 478,770 
kWh
 8,450,686 
 1,552,000 
 6,898,686 
 8,791,519 
 9,149,305 
kWh
 24,925,381 
 3,929,547 
 20,995,835 
 23,573,427 
 25,499,813 
kWh/m2
190
182
191
180
 182 
m2
 131,476 
 21,535 
 109,941 
 130,920 
 140,026 
Ml
 39.7 
 9.2 
 30.5 
Ml
0
0
0
t
 417 
 181 
 237 
t
 417 
 181 
 237 
t
 417 
 181 
 237 
t CO2e
0
0
0
0
0
t CO2e
 12.4 
0
12.4
13.7
0
t CO2e
 0.9  
0
0.9
0
 32 
m2
 126,497.0 
 21,046 
 105,451 
 130,014 
 140,026 
t CO2e
 1,841.0 
 533.0 
 1,308.0 
 1,605.8 
 3,430 
t CO2e
 965.4 
 765.2 
 200.2 
 250.7 
 1,857 
t CO2e
0
0
0
 9.2 
 514 
t CO2e
 158.3 
28.3
130
t CO2e
 2,978.0 
 1,326.5 
 1,651.5 
 1,879.4 
 5,833.0 
Source of emission factors: 2022 ecoinvent, 2021 Sphera GaBi v14 and information provided by the energy supplier;  
2020 Austrian Federal Environmental Agency 
3	 Excluding standing asset in Bergmanstrasse in Munich due to the ongoing sales process.
4	 Standing assets in CZ have been sold.
5	 Standing asset in HR has been sold.
Note: all standing assets (with physical real estate) in which UBM holds an investment of more than 50% are included.

112
I M P O R T A N T  I N F O R M A T I O N
Environmental indicators – Project development
Unit
2022  
Total
2021  
Total
2020  
Total
ENERGY CONSUMPTION
GRI 302 – 2  
Energy consumption outside the organisation –  
energy consumption as per certificate
kWh
11,499,695
11,165,679
9,515,538
GRI 302 – 2   
Energy consumption from renewable sources
kWh
1,717,273
GRI 302 – 3 
Energy intensity
kWh/m3
115
95
74
Number of projects
Number
9
10
10
Gross floor area of projects
m²
99,633
118,104
129,269
EMISSIONS1
GRI 305 – 1  
Direct emissions (Scope 1)
t CO2e
GRI 305 – 2 
Indirect emissions (Scope 2)
t CO2e
GRI 305 – 3 
Other indirect emissions (Scope 3)
t CO2e
3,517.5
3,132.0
2,460.0
GRI 305 – 4 
Intensity of GHG emissions
kg/m² GFA
35
27
19
1	 The increase in energy and GHG intensity is attributable in particular to the completed hotel project (GRI 302 – 5). Classification of emissions based on  
the Greenhouse Gas Protocol, equity share approach (GWP: AR5). In case of less than 100% share of UBM, emissions are calculated on a pro rata basis  
(according to % share). Greenhouse gases included in the calculation: CO2, CH4, N2O, HFC, PFC, SF6, NF3, biogenic CO2 emissions.  
Base year: 2020. Correction 2021 & 2020: emissions from use of sold products = scope 3.11 
2022: All projects that were completed in 2022.  
Source of emission factors: 2022 ecoinvent, 2021 Sphera GaBi v14, national energy certificates; 2020 Austrian Federal Environmental Agency 
 
Note: The energy consumption in the project development is calculated as per certificates.

113
I M P O R T A N T  I N F O R M A T I O N
Unit
 2021 – 2025
2022
2021
2020
BIODIVERSITY &  
GROUND SEALING
Total projects
Number
50
9
10
10
Greenfield developments
Number
9
2
3
2
Brownfield developments
Number
41
7
7
8
Land area – total
m2 of total area
279,600
33,685
45,678
47,783
Greenfield developments
m2 of total area
70,301
9,617
11,038
4,256
Brownfield developments
m2 of total area
209,299
24,068
34,640
43,527
Greenfield developments
%
25
29
24
9
Brownfield developments
%
75
71
76
91
2021 – 2025: according to time horizon of target regarding greenfield/brownfield. Projects that are composed of different phases or building sites are shown separately.
Project
Type of  
property
GFA total
Status
RENOVATION & REVITALISATION
Siebenbrunnengasse, Vienna
Residential
17,958
completed
Siebenbrunnengasse, Vienna
Commercial
6,322
completed
Sugar Palace, Prague
Hotel
16,992
completed
Smolensk, Krakow
Residential
7,906
under construction
Swietnizka, Wrozlaw
Commercial
8,302
under development
Total
57,479
GFA of renovation & revitalisation  
projects as a % of the pipeline 2022–2026
9%
Projects that are composed of different phases or building sites are shown separately.

114
I M P O R T A N T  I N F O R M A T I O N
Social indicators – Employees
INFORMATION ON EMPLOYEES1
GRI 2 – 7 
Information on employees
Employees – total2
thereof female
thereof male
Permanent contract
thereof female
thereof male
Temporary contract
thereof female
thereof male
Non-guaranteed hours employees
Full-time
thereof female
thereof male
Part-time
thereof female
thereof male
Leave3
GRI 2 – 8 
Workers who are not employees
Workers who are not employees
GRI 2 – 21 
Annual total compensation ratio
Ratio of the annual total compensation for the highest-paid individual to 
the median annual total compensation for all employees
Ratio of the percentage increase in annual total compensation for the 
highest-paid individual to the median percentage increase in annual total 
compensation for all employees4
GRI 2 – 30 
Tariff contracts
Percentage of salaried employees covered by tariff contracts5
1	 Headcount as of 31 December
2	 Decrease in the number of employees compared with 2021 due to the sale of alba Bau | Projekt Management GmbH (sold as of 30 June 2022).
3	 All types of leave (parental leave, time off for partial retirement)
4	 Percentage decrease in annual total compensation for the highest-paid individual: -1.63%. Median percentage increase in annual total compensation for all employees  
excluding the highest-paid individual: +4.53%.
5	 Employees in Austria are covered by a collective bargaining agreement. In addition, 6 employees in Germany were classified and paid according to collective agreements  
in 2022. Corresponding agreements with other employees (DE, PL, CZ, Other) are included in the employment contracts.

115
I M P O R T A N T  I N F O R M A T I O N
2022
2021
2020
Total
AT
DE
PL
CZ
Other
Total
Total
292
143
61
41
46
1
 355 
 339 
142
64
27
26
25
0
 160 
 145 
150
79
34
15
21
1
 195 
 194 
278
140
59
38
40
1
 348 
 335 
134
62
26
24
22
0
 157 
 144 
144
78
33
14
18
1
 191 
 191 
14
3
2
3
6
0
 7 
 4 
8
2
1
2
3
0
 3 
 1 
6
1
1
1
3
0
 4 
 3 
0
0
0
0
0
0
0 
0
242
118
50
38
35
1
 296 
295
100
45
17
23
15
0
 107 
106
142
73
33
15
20
1
 189 
189
40
20
9
3
8
0
 45 
 34 
33
15
8
3
7
0
 39 
 29 
7
5
1
0
1
0
 6 
 5 
10
5
2
0
3
0
 14 
10
0
 1 
 1 
 10.3 
–0.4 
51%
39%
40%

116
I M P O R T A N T  I N F O R M A T I O N
ATTRACTIVE EMPLOYER1, 2
GRI 401 – 1  
New employee hires and salaried employee turnover
New hiring – total
thereof female
thereof male
thereof <30
thereof 30 – 50
thereof >50
Turnover – total
thereof female
thereof male
thereof <30
thereof 30 – 50
thereof >50
Turnover rate3
GRI 401 – 3 
Parental leave4
Employees on parental leave
thereof female
thereof male
Employees that returned to work in the reporting period after  
parental leave ended
thereof female
thereof male
Return to work rate
Return to work rate females
Return to work rate males
Employees that returned after parental leave and were still employed  
12 months after
thereof female
thereof male
Retention rate
Retention rate females
Retention rate males
TRAINING AND EDUCATION5
GRI 404 – 1 
Average hours of training and education per employee
Average hours by employee
Average hours – female employees
Average hours – male employees
Average hours – employees without executive function
Average hours – executives
Rate of employees with participation in training and education (%)
Average training and education costs per employee in €6
1	 Headcount as of 31 December 
2	 Turnover of employees who had their last working day on the last day of the year are recorded for the following year.
3	 Turnover rate = Turnover/(Total employees + New hires) x 100, adjusted for strategic divestments and closures (alba and other markets)

117
I M P O R T A N T  I N F O R M A T I O N
2022
2021
2020
Total
AT
DE
PL
CZ
Other
Total
Total
65
27
15
6
17
0
 65 
51
40
16
6
5
13
0
 38 
18
25
11
9
1
4
0
 27 
34
27
11
7
3
6
0
 11 
9
32
13
7
3
9
0
 40 
33
6
3
1
0
2
0
 14 
10
58
23
12
8
10
5
 52 
38
27
8
5
6
6
2
 25 
10
31
15
7
2
4
3
 27 
28
11
6
1
2
2
n/a
 6 
8
34
12
8
5
7
2
 30 
23
10
5
3
1
1
n/a
 16 
7
15.59%
13.9%
16.4%
16.3%
17.9%
12.9%
9.8%
9
4
2
0
3
0
 14 
10
8
3
2
0
3
0
 14 
10
1
1
0
0
0
0
0
0
10
4
5
1
0
5
3
2
0
0
5
1
3
1
0
77%
80%
83%
100%
0%
63%
75%
67%
0%
100%
100%
100%
100%
 3 
 2 
 1 
 3 
 2 
 1 
0
0
0
100%
100%
100%
100%
100%
100%
0%
0%
0%
20
28
16
19
6
9
17
17
21
28
17
26
6
10
19
20
28
14
6
7
9
15
17
22
15
19
5
7
15
35
50
17
20
11
26
82%
84%
81%
83%
80%
33%
35%
65%
364
403
537
104
266
0
 1,425 
4	 All employees are legally entitled to parental leave. 
5	 Education and training of all employees who were employed in 2022 and have recorded their education and training in the newly implemented tool.
6	 Decrease in average training and education costs per employee compared with 2021 mainly due to a higher number of internal training courses and  
a significantly higher proportion of training participants.

118
I M P O R T A N T  I N F O R M A T I O N
OCCUPATIONAL HEALTH & SAFETY
GRI 403 – 9 
Work-related injuries
Work-related injuries
Commuting incidents
Absence in days
Lost Time Injury Rate1
Absence rate after injuries
Work-related fatalities
Reported close calls
Number of hours worked
GRI 403 – 10 
Work-related ill health
Documentable work-related ill health 
Absence as a result of work-related ill health
Fatalities as a result of work-related ill health
DIVERSITY & EQUAL OPPORTUNITY2
GRI 405 – 1 
Diversity of governance bodies and employees
Management positions – total
      thereof female
      thereof male
Supervisory Board – female
Supervisory Board – male
Managing Directors – female
Managing Directors – male
Authorised signatories – female
Authorised signatories – male
Executives – female
Executives – male
GRI 405 – 2 
Ratio of basic salary and remuneration of women to men
Employees – support
Employees – specialist
Executive
Management Board (excluding Chairman of the Board)
1	 Number of lost time accidents per 200,000 hours worked: Number of lost time accidents x 200,000/hours worked (LTIR – Lost Time Injury Rate).
2	 Headcount as of 31 December

119
I M P O R T A N T  I N F O R M A T I O N
2022
2021
2020
Total
AT
DE
PL
CZ
Other
Total
Total
0
0
0
0
0
0
0
 1 
0
0
0
0
0
0
0
 1 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
 465,677 
 230,368 
 95,357 
 73,552 
 66,400 
n/a
n/a
 399,320 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2022 total
2021 total
2020 total
89
94
94
22
25
24
67
69
70
4
4
4
8
8
8
6
5
5
33
39
39
3
9
8
17
15
16
9
7
7
9
7
7
0%
19%
13%
0%

120
I M P O R T A N T  I N F O R M A T I O N
Economic indicators – Governance
Size of the organisation 
 
 
Revenue (in €m) 
Total assets (in €m) 
Market capitalisation (in €m) 
ETHICS & COMPLIANCE
GRI 2 – 27  
Compliance with laws and regulations 
 
Instances of non-compliance with laws & regulations for which fines or 
non-monetary sanctions were incurred
Monetary value of fines for instances of non-compliance with  
laws & regulations
GRI 205 – 2 
Anti-corruption communication & training
Training on anti-corruption1
GRI 205 – 3 
Anti-corruption 
 
 
Confirmed corruption incidents
Employees dismissed/disciplined for corruption
Contracts terminated/not renewed due to corruption
Proven money laundering incidents
GRI 206 – 1 
Fair business practices
Legal actions for anti-competitive behaviour
GRI 406 – 1 
Non-discrimination
Discrimination incidents
1	 A total of 162 individual training sessions on issuer compliance and the prevention of money laundering were held in 2022 with employees at the UBM locations in 
Vienna, Prague, Frankfurt and Innsbruck. An updated training concept increases the interactive involvement of employees, presents the overall subject of “compliance“ 
in an understandable form and clearly explains compliant behaviour.

121
I M P O R T A N T  I N F O R M A T I O N
2022
2021
2020
Total
Total
Total
 133.9 
 278.3 
 183.3 
 1,451.8 
 1,467.8 
 1,345.4 
 170.4 
 323.5 
 267.5 
2022
2021
2020
Total
AT
DE
PL
CZ
Total
Total
0
0
0
0
0
0
0
0
0
0
0
0
0
0
162
116
14
0
32
174
not available
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

122
I M P O R T A N T  I N F O R M A T I O N
Management’s responsibility
The management of UBM Development AG is responsible for preparation of the report content in agreement with the 
reporting criteria and for the management of and compliance with ESG issues. The disclosures in the report were prepared 
in accordance with § 267a UGB and the GRI Standards 2021.
Vienna, 11 April 2023
The Management Board
Martin Löcker
COO
       Thomas G. Winkler
       CEO, Chairman
      Patric Thate
      CFO
Martina Maly-Gärtner
COO

123
I M P O R T A N T  I N F O R M A T I O N
Report on the independent assurance of  
non-financial reporting
Independent Limited Assurance Report on the Non-financial Report 2022 pursuant to  
Section 267a UGB 
(Translation)
We performed a limited assurance engagement on the non-financial report pursuant to section 267a UGB (Austrian Com-
pany Code) and in accordance with GRI Standards 2021 (also referred to as “ESG report”) of UBM Development AG (the 
“Company”), Vienna, for the financial year 2022.
Responsibility of Management and the Supervisory Board
Management is responsible for the preparation of the non-financial report in accordance with the requirements of section 
267a UGB and the GRI Standards 2021.
Management’s responsibility includes the selection and application of appropriate methods to prepare the non-financial 
reporting (in particular the selection of key issues) as well as making assumptions and estimates related to individual sustain-
ability disclosures which are reasonable in the circumstances, and for such internal control as management determines is 
necessary to enable the preparation of a consolidated non-financial report that is free from material misstatement, whether 
due to fraud or error.
The Supervisory Board is responsible for examining the non-financial report.
Auditor’s Responsibility
Our responsibility is to express a limited assurance conclusion based on our procedures performed and evidence obtained 
as to whether anything has come to our attention that causes us to believe that the Company’s non-financial report is not 
prepared, in all material aspects, in accordance with the legal requirements of section 267a UGB and the GRI Standards 2021. 
We performed our engagement in accordance with the professional standards applicable in Austria with regard to other 
assurance engagements (KFS/PG 13) and with regard to selected issues in connection with the assurance of non-financial 
statements and non-financial reports pursuant to sections 243b UGB and 267a UGB as well as the expert opinion on assurance 
with regard to sustainability reports (KFS/PE 28) and the International Standards on Assurance Engagements (ISAE) 3000 
(Revised) “Assurance engagements other than audits or reviews of historical financial information”. These standards require that 
we comply with our ethical requirements, including rules on independence, and that we plan and perform our procedures by 
considering the principle of materiality to be able to express a limited assurance conclusion based on the assurance obtained. 
The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a 
reasonable assurance engagement; consequently, the level of assurance obtained in a limited assurance engagement is sub-
stantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.

124
I M P O R T A N T  I N F O R M A T I O N
The selection of the procedures lies in the sole discretion of the auditor and comprised, in particular, the following: 
	
 Critical assessment of the Company’s analysis of materiality considering the concerns of external stakeholders
	
 Analysis of risks regarding the essential non-financial matters / disclosures
	
 Updating the overview of the policies pursued by the Company, including due diligence processes implemented  
as well as the processes used to ensure an accurate presentation in the consolidated non-financial report
	
 Updating the understanding of reporting process by interviewing the relevant employees and inspecting selected 
documentations
	
 Evaluating the reported disclosures by performing analytical tests of details regarding non-financial performance  
indicators, interviewing relevant employees and inspecting selected documentations
	
 Examining the consolidated non-financial report regarding its completeness in accordance with the requirements  
of section 267a UGB as well as the GRI Standards 2021
	
 Evaluating the overall presentation of the disclosures and non-financial information 
The following is not part of our engagement:
	
 Examining the processes and internal controls particularly regarding their design, implementation and effectiveness 
	
 Performing procedures at individual locations as well as measurements or individual evaluations to check the reliability 
and accuracy of data received 
	
 Examining the prior-year figures, forward-looking information or data from external surveys
	
 Examining the correct transfer of data and references from the (consolidated) financial statements to the non-financial 
reporting; and  
	
 Examining the information and disclosures on the website or further references on the internet 
Neither an audit nor a review of financial statements is objective of our engagement. Furthermore, neither the disclosure 
and solution of criminal acts, as e.g. embezzlement or other kinds of fraud, and wrongful doings, nor the assessment of the 
effectiveness and profitability of the management are objectives of our engagement.

125
I M P O R T A N T  I N F O R M A T I O N
Restriction of Use
Because our report is prepared solely for and on behalf of the client, it does not constitute a basis for any reliance on its 
contents by other third parties. Therefore, no claims of other third parties can be derived from it. Consequently, this report 
may not – be it in whole or in part – be transmitted to third parties without our express consent.
General Conditions of Contract
Our report is issued based on the engagement agreed upon with you and is governed by the General Conditions of Contract 
for the Public Accounting Professions (AAB 2018) dated April 18, 2018 enclosed to this report, which also apply to third parties.
Conclusion 
Based on the procedures performed and evidence obtained, nothing has come to our attention that causes us to believe that 
the Company’s non-financial report is not prepared, in all material aspects, in accordance with the requirements of section 
267a UGB and the GRI Standards 2021.
We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.
Vienna  
April 11, 2023
PwC Wirtschaftsprüfung GmbH 
Dipl.-BW (FH) Marius Richter  
Austrian Certified Public Accountant

Disclaimer
This ESG report includes forward-looking statements which are based on current assumptions and estimates made to the best of their knowledge by 
the management of UBM Development AG. These forward-looking statements can be identified by words like “expectation“, “goal“ or similar terms 
and expressions. Forward-looking statements, by definition, include risks and uncertainties. The forecasts concerning the future development of the 
company represent estimates which are based on the information available at the time the annual report was prepared. If the assumptions underlying 
these forecasts do not materialise or if unexpected risks occur at an amount not quantified or quantifiable, the actual future development and actual 
future results can differ from these estimates, assumptions and forecasts. 
Significant factors for these types of deviations can include, for example, changes in the general economic environment or the legal and regulatory 
framework in Austria and the EU as well as changes in the real estate sector. UBM Development AG will not guarantee or assume any liability for the 
agreement of future development and future results with the estimates and assumptions made in this ESG report. UBM Development AG will not 
update these forward-looking statements to reflect actual events or changes in assumptions and expectations. 
The ESG report as of 31 December 2022 was prepared with the greatest possible care to ensure the accuracy and completeness of the information in 
all sections. The amounts were rounded based on the compensated summation method. However, rounding, typesetting and printing errors cannot 
be excluded. 
This ESG report is published in English and German and is available in both languages on the website of UBM Development AG. In the event of a 
discrepancy or deviation, the German language version takes precedence.
Contact
Christoph Rainer
Tel: +43 (0) 664 80 1873 200
esg@ubm-development.com
Imprint
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UBM Development AG
Laaer-Berg-Straße 43,  
1100 Vienna, Austria
Tel.: +43 (0) 50 1873 100
www.ubm-development.com
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