While the Group does not directly engage in lobbying activities or make donations to political parties, we recognize the pivotal role of trade associations in shaping policies and influencing societal actions and finds these to be appropriate forums for engaging with emerging climate policy in the EU. In selecting and renewing our memberships, we consider the extent to which an organizations' values and commitments resonate with our own sustainability ambitions. We are members of the German Property Federation, Zentraler Immobilien Ausschuss (ZIA), the European Public Real Estate Association (EPRA), and the German Sustainable Building Council, Gesellschaft für Nachhaltiges Bauen (DGNB). As of the time of this publication, our internal review of the climate positions of these associations has found a high degree of alignment with our own policy positions. However, if misalignments are identified in the future the Group would first engage the relevant organization to address the misalignment, and in the case of irreconcilable differences, terminate its membership.