Environment - Redevco

Improving sustainability performance

As a responsible real estate specialist, we aim to be a force for good in the built environment. One of the most important and urgent topics for the entire real estate sector is the impact the built environment has on our climate through carbon emissions – approximately 40% of the world’s carbon emissions come from the built environment.

We aim to help in limiting global warming to 1.5°C in various ways, including collaborating with our tenants and suppliers. To support the 1.5°C global warming limit, Redevco is working towards the following:

Reduce greenhouse gas (GHG) emissions by 2030: A target validated by the Science Based Targets initiative (SBTi).
Net zero carbon by 2040 for the entire portfolio: In line with the World Green Building Council’s Whole Life Carbon Vision, our ambition is to work towards making our entire portfolio net zero carbon by 2040 and have called this our Mission 2040 (not yet formally validated by SBTi).
For all (re)developments or major renovations under our control, we will reduce the upfront embodied carbon emissions as much as possible and – if supported by the respective investor clients – compensate for the residual embodied emissions through offsets.
We aim to understand and mitigate relevant climate risks promptly.

Our entire portfolio net zero carbon by 2040

We have committed to making our entire portfolio Net Zero Carbon by 2040, which we call ‘Mission 2040’. Our Mission aligns with the World Green Building Council’s definition of Net Zero Carbon (NZC), which states that buildings should be highly energy efficient and fully powered from on-site and/or off-site renewable energy sources.

Our Sustainability team is responsible for driving progress of Mission 2040 and to embed our mission into the organisation.

How we’ll get there

The built environment, responsible for more than 30% of global energy consumption, has a responsibility to find solutions and reduce carbon emissions. We believe that we can make a significant impact by improving the environmental performance of our assets under management. We have committed to making our entire portfolio Net Zero Carbon by 2040. Our ‘Mission 2040’ campaign is aligned with the World Green Building Council’s definition of Net Zero Carbon (NZC), which states buildings should be highly energy efficient and fully powered from on-site and/or off-site renewable energy sources.

Signature projects

To demonstrate what Mission 2040 looks like, we have selected signature projects to learn but also demonstrate what actions are needed to make buildings Net Zero Carbon and that our ambition is achievable. Our signature projects comprise a retail transformation project, a residential development, an inner-city shopping centre project and on-site renewable energy generation project.

Redevelopments

We raised our ambition level for redevelopments to BREEAM In-Use “Excellent”. We assume a higher BIU rating translates to more positive impact and helps us to enhance the value and quality of the property portfolio, reduce the risk of obsolescence over the long term and enable compliance with incoming legislation.

Smart metering

The process of improving assets starts with gaining insight into their energy consumption and emissions. For a few years now, we have been working hard to improve the completeness, accuracy and robustness of energy consumption data relating to our assets under management (AuM). To make this process as automated and efficient as possible, we have been investing in smart meters to capture energy consumption data across our AuM.

Futureproofing our assets

We believe in future-proofing our assets and making these more sustainable, both economically, socially and environmentally. We aim to create vibrant places that will retain their appeal for future generations and to improve both the environmental and social impact on local communities and businesses where each asset is located.

Our portfolio