Redevco: entire portfolio CO2-neutral by 2040
As part of its ongoing sustainability efforts, pan-European real estate investment manager Redevco has committed to making its entire portfolio carbon neutral by 2040.
In this context, Redevco has selected four projects that will serve as examples to show exactly what "Mission 2040" means, what measures are required to make buildings CO2-neutral, and that the goals set are actually achievable. Specifically, the projects are a retail development, a housing project, an inner-city shopping center, and measures to generate renewable energy on site.
The energy efficiency of the properties managed by Redevco is to be improved as much as possible through a combination of building-material-related measures and cooperation with the tenants. In addition, the company has so always sensible already started to invest in renewable energy generation on site.
"We believe we can make a significant contribution by improving the environmental performance of the assets we manage," Clemens Brenninkmeijer, Head of Sustainable Business Operations at Redevco, is certain. "Our industry, which is responsible for more than 30 percent of global energy consumption, has a responsibility to find solutions and reduce CO2 emissions. Redevco wants to lead by example and show what it means to act responsibly. We must start with ourselves and minimize our impact on the climate and the earth's resources."
Redevco has been certifying its portfolio according to the BREEAM In-Use method (in Germany: BREEAM Bestand) for more than ten years. To date, 84% of the assets under management are BREEAM certified - based on their value. In addition, Redevco actively improved the rating of 47 properties in 2018. Under the company's tightened sustainability criteria as part of its "Mission 2040", all redevelopments must receive a BREEAM rating of "Excellent".
With the ambitious environmental targets, Redevco is also anticipating expected stricter legislation regarding the sustainability of buildings. "BREEAM certification is not an end in itself," continues Clemens Brenninkmeijer. "We use it as a tool to measure the environmental performance of our buildings, set targets for improvements and invest specifically in the continuous upgrade of our properties. In this way, we are making them more future-proof. We are on a good path and have already learned and achieved a lot. But with legislative and market pressures likely to get tougher, we want to significantly expand our CO2 reduction efforts."
