Decarbonising the Built Environment

A grand, multi story parisian building with ornate stonework and mansard roofs; its facade is open, revealing modern shops, greenery, and people inside, blending classic architecture with contemporary interiors.

Built environment

We work to reduce the greenhouse gas emissions (GHG) of the assets we own and manage. We have set science-based emissions reduction targets and identified our emissions hotspots, enabling us a targeted focus on improving energy performance and increasing renewable energy solutions within our assets. We also seek to reduce the carbon impact of new developments and major refurbishments under our control, while continuously assessing climate-related risks and opportunities across our portfolio. Working across a diverse range of investment strategies and mandates, we pursue decarbonisation in a way that reflects the characteristics and objectives of each portfolio, while maintaining a clear ambition to accelerate the transition towards more sustainable real estate. By embedding decarbonisation into our investment and asset management activities, we aim to enhance resilience, support long-term asset performance and create lasting value for our investors and stakeholders.

Natural environment

Integrating nature across our portfolio

Nature and biodiversity are fundamental to the long-term resilience, performance and value of real estate assets. As both climate change and biodiversity loss increasingly shape the built environment, Redevco seeks to integrate nature-positive principles across the assets we own and manage. By enhancing biodiversity, strengthening ecosystems and increasing the presence of green infrastructure, we help create healthier and more resilient places for communities. These efforts complement our decarbonisation strategy, helping to mitigate climate risks, support adaptation, preserve natural resources and contribute to the long-term sustainability of the portfolios we manage.

Decarbonising the built environment

Mission Net Zero

Our greatest opportunity to reduce GHG emissions lies in the actions we take across the assets we own and manage, as well as in our corporate offices. To guide these efforts, we have set science-based emissions reduction targets aligned with a 1.5°C pathway and validated by the Science Based Targets initiative (SBTi).

By 2030, we aim to reduce absolute Scope 1 and 2 greenhouse gas emissions by 58.5% and absolute Scope 3 emissions by 46.2%, compared with our 2019 baseline. To monitor progress and inform portfolio-specific decarbonisation strategies, we use the Carbon Risk Real Estate Monitor (CRREM) 1.5°C pathways, which provide science-based benchmarks for energy and carbon performance across different asset types and geographies.

These pathways help us identify, prioritise and implement actions that reduce operational emissions and support the transition to lower-carbon real estate across the diverse portfolios and mandates we manage.

People sit and walk in a sunlit urban square surrounded by modern red brick buildings and green trees, with shops and cafes at street level under a blue sky with scattered clouds.

Decarbonising the built environment

Strengthening climate resilience

Climate resilience is an essential part of creating sustainable, future-proof real estate. Across our assets under management, Redevco assesses and manages both physical climate risks, such as flooding, extreme heat, drought and severe weather events, and transition risks arising from evolving regulation, technology and market dynamics.

Using proprietary tools and science-based data, we evaluate climate risks at asset and portfolio level, helping to identify priorities and inform investment, asset management and adaptation strategies. This enables us to implement targeted measures, such as nature-based solutions, sustainable water management, building improvements and decarbonisation initiatives, which strengthen resilience and support long-term asset performance.

By embedding climate risk assessment and adaptation into our business processes, we aim to safeguard value, reduce future vulnerabilities and enhance the long-term sustainability of the portfolios we manage.

A circular diagram titled climate risk assessment at redevco lists six steps: risk identification, risk prioritisation, mitigation actions implementation, continuous improvement, monitoring and reporting, and review process annually.

Integrating nature across our portfolio

Creating space for nature

Our business both depends on and impacts the natural environment. That’s why we look for opportunities to create space for biodiversity and nature across the assets we own and manage.

This includes expanding green and permeable areas, incorporating native planting and habitat features, and implementing measures that support water retention and infiltration. We also seek to limit the use of artificial surfaces such as concrete and asphalt, which can negatively affect soil health, water quality and biodiversity.

To embed nature into our decision-making, biodiversity considerations are integrated into our asset business plans, redevelopment projects and acquisition processes.

Integrating nature across our portfolio

Managing resources responsibly

The way we use materials, water and other resources has a direct impact on the environment and communities. That’s why we take a disciplined approach to the resources our assets consume and the waste our developments generate.

To reduce our ecological impact, we aim to use fewer virgin materials, and support circularity by reusing and upcycling building materials where possible. All major development projects are required to measure waste volumes and disposal methods to ensure robust construction waste management.

Alongside this, we are working to reduce water intensity across the areas we control within our portfolio, helping to conserve an increasingly scarce natural resource.

How we’ll achieve our targets

A large array of solar panels is installed on the flat rooftop of a commercial building, with a parking lot, shops, and trees visible in the background under a clear sky.

Generating and sourcing renewable energy

Increasing renewable energy across our portfolio is one of the most effective ways to reduce greenhouse gas (GHG) emissions. We do this by expanding on-site renewable energy generation through rooftop solar installations on suitable assets, and by sourcing renewable electricity for the areas we control.

This combined approach helps reduce our reliance on fossil fuels, lower operational emissions and support the transition to a low-carbon future.

Transforming existing assets

Redeveloping assets gives us the opportunity to improve environmental performance across our portfolio. Through our €1 billion investment programme, we are transforming around 40 single-use retail assets across Europe into resilient, mixed-use places that better serve local communities.

By future-proofing these assets, we reduce operational carbon emissions, improve energy performance, strengthen climate resilience and increase green areas. To minimise embodied carbon during redevelopment, all projects are guided by our Sustainable Design Brief and include Whole Life Carbon Assessments.

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Tracking our progress

Accurate, comprehensive data is essential for understanding our environmental impact and tracking progress against our targets. We continue to improve the quality and coverage of sustainability data across our portfolio, including carbon, water, waste and biodiversity indicators, using the sustainability platform Deepki to further support these efforts.

Better data helps us to establish reliable baselines, identify opportunities for improvement and make informed decisions that support long-term improvements to environmental performance.