Continued improvement of the Fund's sustainability performance
Impact area | Indicator | Measure | Units of measure | 2019 | 2018 | Change |
Fund sustainability benchmark | GRESB | Star rating | # stars | 4 | 4 | - |
GRESB | Overall score (GRI-CRESS: CRE8) | # [1-100] | 85 | 79 | +6 |
Investing in sustainable real estate
Impact area | Indicator | Measure | Units of measure | 2019 | 2018 | % change |
Asset sustainability certificate | BREEAM | Green Building Certificates floor space of shopping centres (BREEAM or GPR) (GRI-CRESS: CRE8) | % | 87.9% | 84.0% | 3.9% |
Certificate BREEAM-NL in-use PASS | % | 15.9% | 48.0% | -32.1% |
Certificate BREEAM-NL in-use GOOD | % | 70.5% | 36.0% | 34.5% |
Certificate BREEAM-NL in-use VERY GOOD | % | 1.5% | 0.0% | 1.5% |
Certificate BREEAM-NL in-use EXCELLENT | % | 0.0% | 0.0% | 0.0% |
Certificate BREEAM-NL in-use OUTSTANDING | % | 0.0% | 0.0% | 0.0% |
Reduce Environmental impact
Impact area | Indicator | Measure | Units of measure | 2019 | 2018 | % change |
Energy performance certificate | EPC | Labelled floor space (GRI-CRESS: CRE8) | % | 100.0% | 97.4% | 2.7% |
Green labelled floor space (A, B or C label) | % | 98.4% | 95.6% | 2.9% |
A labelled floor space | % | 86.0% | 86.1% | -0.1% |
Average energy index | # | 0.80 | 0.88 | -9.1% |
Impact area | Indicator | Measure | Units of measure | 2019 (abs) | 2018 (abs) | % change (LfL) |
Energy | Electricity | Total landlord-obtained electricity (GRI: 302-2) | MWh | 3,351 | 3,350 | 2.5% |
Gas | Total gas consumption (GRI: 302-1) | 2,102 | 3,133 | -18.6% |
District heating and cooling | Total district heating and cooling (GRI: 302-2) | - | 36 | 0.0% |
Total | Total energy consumption from all sources (GRI: 302-2) | 5,454 | 6,519 | -7.3% |
Energy intensity | Building energy intensity (GRI-CRESS: CRE1) | kWh/m²/year | 27 | 33 | -7.3% |
| | Energy and associated GHG disclosure coverage | | 21 of 21 | 22 of 22 | |
GHG emissions | Direct | Scope 1 (GRI: 305-1) | tonnes CO2e | 405 | 604 | -18.6% |
Indirect | Scope 2 (GRI: 305-2) | 1,863 | 1,867 | 2.5% |
Total | Total GHG emissions (GRI: 305-2) Scope 1 and 2 | 2,269 | 2,471 | -2.4% |
Total GHG emissions after compensation | 405 | 609 | -18.6% |
GHG emissions intensity | GHG intensity from building energy (GRI-CRESS: CRE3) | kg CO2e/m²/year | 11 | 13 | -2.4% |
Water | Total | Total water consumption (GRI:303-1) | m³ | 18,081 | 18,968 | 0.4% |
Water intensity | Building water intensity (GRI-CRESS: CRE2) | m³/m²/year | 0.24 | 0.20 | 0.4% |
Waste | Total | Total waste collected (GRI: 306-1) | tonnes | 168 | 151 | 33.8% |
| | Recycling rate | % | 26% | 22% | 56.0% |
Stakeholder engagement performance
Impact area | Indicator | Measure | Units of measure | 2019 | 2018 | % change |
Engage with stakeholders | Tenant satisfaction | Response rate (GRI: 102-43) | % | 51% | 54% | -1% |
Average total score (GRI: 102-43) | # | 6.4 | 6.5 | -1.5% |
Sustainable stewardship | Considerate constructors scheme | Registered construction projects | # | 1 of 2 | 1 of 2 | n/a |
Participation rate (by acquisition price) | % | 38.6% | 23.8% | 62.2% |
Board seats and committee memberships industry organisations, related to the Dutch retail sector | Number | # | 2 | 2 | No change |
Being a responsible organisation
Impact area | Indicator | Measure | Units of measure | 2019 | 2018 | % change |
Sustainable agreements | Leases | Number of new leases | # | 46 | 82 | -43.9% |
Number of green leases | # | 121 of 523 | 99 of 550 | +5.1% |
Reporting of performance indicators
The Fund’s ambition to increase the coverage and therefore the transparency of its environmental impact according to INREV Sustainability Reporting Guidelines is reflected in the summary of key performance indicators in the table above.
Bouwinvest reports environmental data of those assets where there is management control possible (operational control approach). Data is provided for those assets where we have authority to introduce and implement operating policies and are responsible for purchasing energy and water and handling waste. Our management control differs greatly by asset type (e.g. residential and office); these differences affect the level of influence we have over the sustainability performance of our assets.
Like for like data and changes represents assets which have been fully owned and operational for the full 24 month period in our investment portfolio. It provides insight in the performance of an indicator over time at a constant portfolio scope. The reduction in GHG emissions can be explained by the compensation of carbon emissions through purchase of carbon certificates. This follows the commitment of Bouwinvest to reduce the impact its operations has on climate change.
For the managed portfolio (scope 1 and 2), Bouwinvest reports on total energy consumption including all direct energy sources (gas, fuel oil) and indirect energy sources (electricity, district heating and district cooling). To calculate Greenhouse Gas (GHG) emissions, country and energy source-specific emission factors have been applied. Emission factors change over time. For this annual report most recently available factors for 2019 are used (source: www.co2emissiefactoren.nl).
Energy, Emission and Water intensities are reported only on properties where energy respectively water data is available, using ‘shared services’ as the numerator and lettable floor area (LFA) as the denominator. ‘Shared services’ refer to landlord-obtained consumption for common parts and any services provided to tenant areas that have not been sub-metered.
In the annual report of Bouwinvest Real Estate Investors B.V. the results of a conducted analysis on material topics and observations on stakeholders and reporting criteria with regard to Bouwinvest and its investment activities in general are included. The responsible investing indicators in this report are aligned with these results and observations where applicable.