09. Mai 2012 
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CA Immo becomes ethical certification
CA Immo has become the first real estate company in Austria to be certified according to the standards of the Austrian Society for Sustainable Real Estate (ÖGNI). The award of certification attests to the company’s exemplary, value-oriented management team.
In cooperation with the ICG Corporate Governance Initiative in Germany, the Austrian Society for Sustainable Real Estate (ÖGNI) has developed codes for corporate governance, value management and compliance management that define standards of good managerial practice for the construction and real estate sector. These include special regulations on the duty to inform regarding changes in property valuations, representation of real estate experts on the Supervisory Board and specific rules governing conflicts of interest in real estate transactions and contract awards. CA Immo is the first Austrian organisation to implement these international guidelines.
According to Wolfhard Fromwald, a member of CA Immo Management Board, “Transparency and sustainability have been central to our corporate values for many years, and many of our investors demand these qualities as well . Our subsidiary CA Immo Deutschland has been certified under ICG standards since 2010, and now we are aiming for ethical certification across the Group .” Zero tolerance of corruption, a clear and credible information policy, active risk management and upholding the interests of investors – priority number one – are just some of the key points in the certification process. As Fromwald continues, “For us, raising awareness amongst everyone involved is a central issue. People need to know where we draw the line on what’s permitted, which values matter most to us and what our stakeholders expect. By applying for certification, we can establish clear rules for the guidance of staff in these areas.”
The first audit on compliance with the standards at Group level was carried out by KPMG Wirtschaftsprüfungs- und Steuerberatungs GmbH in 2011; the company was subsequently confirmed as ‘ethically certified’ by the ÖGNI. “Professionalism, transparency, integrity and fairness are tasks of management in the construction and real estate sector, and now companies that qualify for certification are able to illustrate those qualities in concrete terms for the first time”, says Philipp Kaufmann, founding president of ÖGNI, clearly proud to have overseen Austria’s first successful certification. The fact that the guidelines were “developed by the sector for the sector” is a key advantage when it comes to implementing the certification system in practice, he believes, adding that “We’re not talking about good people here, it’s all about good management”.
In the course of implementing the value management catalogue, all CA Immo employees in Germany and all managerial staff in Austria have received training in the guidelines and risks of corruption; a rollout of compliance training is scheduled for 2012.
In cooperation with the ICG Corporate Governance Initiative in Germany, the Austrian Society for Sustainable Real Estate (ÖGNI) has developed codes for corporate governance, value management and compliance management that define standards of good managerial practice for the construction and real estate sector. These include special regulations on the duty to inform regarding changes in property valuations, representation of real estate experts on the Supervisory Board and specific rules governing conflicts of interest in real estate transactions and contract awards. CA Immo is the first Austrian organisation to implement these international guidelines.
According to Wolfhard Fromwald, a member of CA Immo Management Board, “Transparency and sustainability have been central to our corporate values for many years, and many of our investors demand these qualities as well . Our subsidiary CA Immo Deutschland has been certified under ICG standards since 2010, and now we are aiming for ethical certification across the Group .” Zero tolerance of corruption, a clear and credible information policy, active risk management and upholding the interests of investors – priority number one – are just some of the key points in the certification process. As Fromwald continues, “For us, raising awareness amongst everyone involved is a central issue. People need to know where we draw the line on what’s permitted, which values matter most to us and what our stakeholders expect. By applying for certification, we can establish clear rules for the guidance of staff in these areas.”
The first audit on compliance with the standards at Group level was carried out by KPMG Wirtschaftsprüfungs- und Steuerberatungs GmbH in 2011; the company was subsequently confirmed as ‘ethically certified’ by the ÖGNI. “Professionalism, transparency, integrity and fairness are tasks of management in the construction and real estate sector, and now companies that qualify for certification are able to illustrate those qualities in concrete terms for the first time”, says Philipp Kaufmann, founding president of ÖGNI, clearly proud to have overseen Austria’s first successful certification. The fact that the guidelines were “developed by the sector for the sector” is a key advantage when it comes to implementing the certification system in practice, he believes, adding that “We’re not talking about good people here, it’s all about good management”.
| Ethical certification according to ÖGNI | |||||||
| Component | |||||||
| Component 1 | Observing the principles of fair and proper business management in the real estate sector (the ‘10 commandments’) These principles provide the basis for value-oriented, professional corporate management. | ||||||
| Component 2 | Compliance with company-specific regulations and codes. | ||||||
| Component 3 | Inspection of documentation on realising the value management system as well as measures and processes introduced within a company. The guidelines on value management give concrete form to the principles and deliver a binding framework f | ||||||
| Component 4 + 5 | Scope statement on compliance management in the real estate sector and associated rules of procedure for testing and certification. | ||||||
In the course of implementing the value management catalogue, all CA Immo employees in Germany and all managerial staff in Austria have received training in the guidelines and risks of corruption; a rollout of compliance training is scheduled for 2012.
