NEO Property Services, a key player in the Hungarian real estate service market, has taken new steps towards sustainable operation

NEO Property Services Zrt. has published its ESG report for the year 2023, with which the subsidiary of AKKO Invest Nyrt., listed on the Budapest Stock Exchange, reported for the second time on its goals and results in the areas of environmental protection, social protection and corporate governance. László Vágó, CEO of NEO Property Services Zrt., said that NEO is in a special position as a real estate service company, because the office, logistics and industrial buildings, condominiums, or residential parks built by the general contracting business include thousands of jobs and homes. thus, with its activities, it affects the conditions of many people’s work or family life, and accordingly prioritizes aspects related to sustainability. From the very beginning, NEO has been committed to the protection of the natural and built environment and to sustainable development, so it started reporting in 2022 despite the fact that the deadlines set in the regulations oblige it to do so for the first time only from 2025. In accordance with the report, the company has started preparing for the provision of data in accordance with legal obligations (EU Taxonomy Regulation, Hungarian ESG Act), he added.

NEO Property Services, as a key player in the Hungarian real estate service market, began the preparation of the 2023 report by revising and updating the focus areas, for which it expanded the scope of those interviewed during the survey, so the results also reflect the opinions of NEO’s employees, key customers and supplier partners. In NEO’s second ESG report, it examined, among other things, how climate change, digitalization, ethical business conduct and regulatory compliance affect the company’s operations, and what steps and specific objectives all of this requires from the company. Accordingly, NEO strengthened the digitization of its processes, which, in addition to improving business efficiency, also resulted in a reduction of the environmental footprint, and its further objective is to further increase the rate of digitization in its operations and to continuously improve the existing systems. In order to protect the health and enhance the well-being of the employees, it provides several screening tests, while in the field of environment and climate protection, a priority goal is the development of the processes necessary for the preparation of the EU Taxonomy report, the definition of responsibilities and powers, and the promotion of circular, sustainable operation.