CTP continues active role in restoring forest biodiversity with purchase of 460 hectares of forest near Zlín
Prague, February 25, 2021
CTP purchases 460 hectares forest in eastern Czechia raising the total forest the company owns to 560 hectares. The purchase is part of CTP’s strategy to own one square meter of forests for every one square meter of buildings it has, and with this ownership, to restore and protect the forests’ native biodiversity. This purchase brings CTP to the 89% benchmark of this goal.
In 2019, CTP acquired first 100 hectares of forest and set the goal to own one square meter of forest for every one square meter of its built portfolio, while working to restore and protect the original biodiversity of the forests. In February 2021, CTP moved closer to this goal with the purchase of a 460 hectares forest close to Zlín, a regional town in the southwest of Moravia which holds a rich history of manufacturing. This purchase brings CTP to 89% of its target compared to the GLA of 6.3 million m² in end-2020.
CTP set this 1:1 portfolio to forest goal to help solve a large environmental problem. Approximately half of forests in Czechia are monocultural with a particular species of spruce resulting bark beetle infestation which kill forests. With CTP’s focus on preservation of the forest and not harvesting timber in order to support to restore these forests’ biodiversity, they can be further enjoyed by local communities and play a key role in balancing carbon emissions.
Over the years, CTP plans replant 50 hectares which was deforested due to bark beetle outbreaks, restore natural springs and a pond, all of which will improve the biodiversity of the area. Additionally, CTP plans to keep forests open to members of the public to enjoy the area.
In 2019, CTP purchased 100 hectares of forest near Mladá Boleslav, an industrial town in the northern region of Czechia. At the time of purchase, the forest was impacted by bark beatless infestations. Since purchasing, CTP has planted over 108,000 different kinds of saplings native to the region, restoring the forest’s biodiversity to its original state.
By the end of this year, CTP plans to be operationally carbon neutral, and do date, they stand to be one of the greenest property developers in CEE. In five months, CTP raised 1.55 billion euros in Green Bonds to finance their green projects. CTP plans to purchase more forests in other countries of their operations as their portfolio grows.
CTP is the largest industrial property developer in CEE managing 6.3 million m² of logistics space across seven countries. With the entire portfolio BREEAM certified, CTP claims the position of the most sustainable developer in the region, having reached carbon neutrality in its operations already since the beginning of 2021.