We are part of a family enterprise that cares deeply about the people and communities it serves. For this reason, at Redevco, we strive to have a lasting positive impact on society and the environment. It’s in our way of doing things.
The built environment is responsible for more than 30% of global energy consumption. This includes real estate in urban areas, in which Redevco operates. We have a responsibility to find solutions and reduce carbon emissions and believe that we can make a significant impact by improving the environmental performance of our assets under management.
To frame our approach to sustainability in internationally recognised terminology and to enable transparency to all our stakeholders, we have adopted a Redevco ESG Policy in 2020.
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.
“Start by doing what is necessary… then do what is possible and suddenly you are doing the impossible.”
Investing responsibly and wanting to contribute to create a sustainable world is a crucial part of our business. We need and want to be able to demonstrate our progress in a transparent way. Redevco wants to lead by example and invites you, our stakeholders, to share knowledge and experiences, and in doing so accelerate the learning curve. Each year we publish our Responsible Investment report highlighting what we have done to support our mission.
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. How we will go about this? View our roadmap
To demonstrate what Mission 2040 looks like, we have selected four signature projects to learn but also demonstrate what actions are needed to make buildings Net Zero Carbon and that our ambition is achievable. Our four signature projects comprise a retail transformation project, a residential development, an inner-city shopping centre project and on-site renewable energy generation project.
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.
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 office operations
Whilst the footprint of our assets under management has a significantly larger impact on the environment, we also consider the footprint of our own internal operations. These CO2 emissions come primarily from the energy use of our offices, air travel and the emissions from company cars. If we want to inspire our client investors and our tenants we need to lead by example in our own operations and show that every bit counts.
Partnerships to change the industry
We support projects and industry initiatives through the Redevco Foundation. The Redevco Foundation aims to find projects that promote and catalyse initiatives, within the commercial real estate sector, that endeavour to increase the understanding of and accelerate the transition to a more sustainable, low carbon and circular built environment and might not be able to be realised without our funding.