FULL SPEED TOWARDS PORTFOLIO DECARBONIZATION - AN AMBITION WITH ACTUAL RESULTS

Press release – Neuilly-sur-Seine, Tuesday, March 18, 2025 - 5.45 pm

Full speed towards portfolio decarbonization:
AN AMBITION WITH ACTUAL RESULTS

In 2023, ARGAN published an ambitious decarbonization strategy on all three scopes of its carbon footprint with a priority effort on CO₂ emissions linked to the use of its warehouses. Our target: reduce our emissions by 50% from 25,000 T in 2022 down to 12,500 T in 2030. An ambitious path with already actual results two years after the start of our program…

Where did we stand at the end of 2024?

In 2024, our emissions represented 19,000 T of CO₂, i.e., a reduction of 6,000 T vs. 2022 (-24%):

• 11,000 T generated by electric consumptions that come from lighting and needs related to on-site operations. This figure has been relatively stable since 2022.
• 8,000 T generated by gas heating, compared with 14,000 T in 2022, which represents a decrease of 6,000 T, i.e., 43%.

This performance, achieved in less than two years, is the result of a voluntary action plan shared with our tenant clients.

What are the means that have been implemented?

Measuring.
We have implemented a thorough measuring of energy consumptions (electricity + gas) on all our portfolio of warehouses working with our clients. This multi-year database helps us target the warehouses that pollute the most and that we prioritize for our actions.

Monitoring.
Thanks to our deployed BMS equipment, it is now possible to precisely identify consumptions linked to different usage categories (heating, lighting, processes and more), and to act accordingly.

Investing.
A heat pumps plan for the existing portfolio: this plan aims at replacing gas boilers with air / water heat pumps. This action has immediate measurable effects: heating a standard warehouse with gas leads to emissions of around 6 kg of CO₂/sq.m, while heating the same warehouse with an electric heat pump represents 1 kg of CO₂/sq.m in terms of emissions.

Innovating.
Aut0nom for new developments: This is a warehouse equipped with a photovoltaic power plant and batteries for storage. Its energy production is exclusively dedicated to the self-consumption of the tenant client, with heating and cooling coming from heat pumps.

An Aut0nom warehouse leads to around 1 kg of CO₂/sq.m of emissions with all energy needs covered; residual emissions are compensated for, starting from 2025, with a reforestation plan labelled as ‘low carbon’ and currently deployed in Cestas, in the French department of Gironde.