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Environmental performance

Monitoring performance

Monitoring environmental performance data (energy and water consumption, greenhouse gas emissions and waste) is an important part of managing sustainability issues. The Fund tracks and aims to improve the environmental performance of its managed real estate assets; those properties where the Fund is responsible for purchasing and managing consumption. The Fund reports on energy consumption (electricity, heating and gas: the energy components) for shopping centres which translates to greenhouse gas emissions.

In 2015, the Fund focused on continued improvements to energy efficiency. Following technical improvements and joint initiatives with tenants, the average Energy Index improved to 0.98 in 2015 (2014: 1.03). The majority of the portfolio’s properties have now been awarded an energy label A, B or C (88.0%), indicating a good overall level of energy efficiency for the portfolio.

Clear targets, practical measures

In 2012, the Fund set a target to reduce energy consumption by at least 10% in 2015 for those assets over which it has ‘operational control’, mostly shopping centres. In 2015 the Fund managed to cut energy consumption by 2.7% (2014: 13.8%) contributing to a total cut in energy consumption of 16.0% in the period 2012-2015 on a like for like basis an achieved its target. The Fund’s first charging stations for electric vehicles are operational in Maasplaza (Dordrecht) and Parkweide (Ede).

In 2015, Bouwinvest set the following targets for the period 2016-2018:

  • Energy: average annual reduction 2%

  • GHG emissions: average annual reduction 2%

  • Water: average annual reduction 2%

  • Waste: increase recycling percentage

  • Renewable energy: increase percentage renewable energy

The implementation of an Environmental Management System (EMS) will help us to achieve these targets. Furthermore, we aim to increase the use of renewable energy.

The Fund’s ambition to increase the coverage and therefore the transparency of its environmental impact according to INREV sustainability guidelines is reflected in the summary of key CSR data. For more detailed information please see the CSR performance indicators in the Annual Report of the management company.

Green building certificates

The design for the redevelopment of the retail complex Damrak 70 and 80 in Amsterdam was awarded the BREEAM NL New Build and Renovation Very Good certificate at year-end 2015. The design team worked with a BREEAM NL expert to incorporate a host of sustainability measures in the design. The roof has been fitted with solar panels and the building has been fitted out with LED lamps. The designers also opted for energy efficient escalators and lifts, while virtually all the existing construction was either reused or incorporated in the design. The redevelopment also complied with the Bewuste Bouwers sustainable construction code, which includes standards for minimising and separating waste, the reduction of energy and water use, safety and the prevention of nuisance in the immediate environment. The plan is to continue this initiative by working with tenants to introduce a broad range of measures for the fit-out and use of the retail premises, with the ultimate aim of a BREEAM NL Very Good certificate once the renovation is complete and the tenants have moved into the complex. This is expected at year-end 2016. In 2015, the Fund also started the process for obtaining the BREEAM-NL In-Use certificate for two shopping centres: Goverwelle (Gouda) and Makado (Purmerend). Both certificates are expected in the first quarter of 2016.

The adjoining project Nieuwendijk 196 in Amsterdam has already received the design certificate BREEAM Very Good and delivery certification Very Good is expected in the first quarter of 2016.

Green lease

In 2014, the Retail Fund launched its first Green Leases. The Fund continued this initiative in 2015, adding eight Green Leases.
These lease agreements incorporate sustainability clauses, with the aim of increasing and enhancing the
information exchange between the Retail Fund and its tenants. This in turn creates opportunities to improve
environmental performance. Combined with installing smart meters at tenant level, the Fund sees this as the first step towards more far-reaching green leases in the future.

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