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Responsible investment performance indicators

Continued improvement of the Fund’s sustainability performance

Impact area

Indicator

Measure

Units of measure

2020

2019

Change

Plan 2020-2022

Fund sustainability benchmark

GRESB

Star rating

# stars

5

4

1

Annual improvement of overall GRESB score

GRESB

Overall score (GRI-CRESS: CRE8)

# [1-100]

88

84

4

Investing in sustainable real estate

Impact area

Indicator

Measure

Units of measure

2020

2019

change

Plan 2020-2022

Asset sustainability certificate

GPR-Building

Green Building Certificates floor space (BREEAM or GPR) (GRI-CRESS: CRE8)

%

100%

100%

+ 40.8 pp

All standing investments GPR labelled and by end of 2022 an average score of 6.7

(Plan 2020: 6.5)

Average score (GRI-CRESS: CRE8)

#

6.5

6.4

+ 1.6%

GPR-Building (new acquisitions)

Labelled floor space (GRI-CRESS: CRE8)

%

100.0%

n.a.

n.a.

Minimum GPR of 7.5

Average score (GRI-CRESS: CRE8)

#

7.8

n.a.

n.a.

Reduce Environmental impact

Impact area

Indicator

Measure

Units of measure

2020

2019

change

Plan 2020-2022

Energy performance certificate

EPC

Labelled floor space (GRI-CRESS: CRE8)

%

100%

100%

0 pp

100% green portfolio (A, B, C energy labels) and 65%% energy label A or better by end 2021

Green labelled floor space (A, B or C label)

%

100%

100%

0 pp

A labelled floor space

%

52.5%

43.0%

+ 7.5 pp

Average energy index

#

1.08

1.17

- 7.6%

Renewable energy

Solar panels

Installed kWp of solar panels

kWp

13,726

9,201

49.2%

Add renewable energy on location, installing 12.000kWp of solar panels before end of 2021

Near energy neutral

BENG proof

%

100.0%

77.0%

+ 23.0 pp

In the period 2019-2021, 70% of newly signed acquisitions (€) are near ‘energy neutral’ projects (‘BENG’-proof)

Impact area

Indicator

Measure

Units of measure

2020 (Abs)

2019 (Abs)

change (LfL)

Plan 2020-2022

Energy

Electricity

Total landlord-obtained electricity (GRI: 302-2)

MWh

8,313

7,432

4.5%

Annual reduction of environmental impact to increase:

Gas

Total gas consumption (GRI: 302-1)

4,106

4,901

-16.7%

District heating and cooling

Total district heating and cooling (GRI: 302-2)

-

-

0.0%

 

Total

Total energy consumption from all sources (GRI: 302-2)

12,418

12,333

-4.3%

from -2% in 2019 to -5% in 2021

Energy intensity

Building energy intensity (GRI-CRESS: CRE1)

kWh/m²/year

13

14

-4.3%

 
 

Energy and associated GHG disclosure coverage

 

130 of 287

120 of 281

  

GHG emissions

Direct

Scope 1 (GRI: 305-1)

tonnes CO2e

792

945

-16.7%

 

Indirect

Scope 2 (GRI: 305-2)

4,622

4,132

4.5%

 

Total

Total GHG emissions (GRI: 305-2) Scope 1 and 2

5,414

5,077

0.3%

from -2% in 2019 to -5% in 2021

Total GHG emissions after compensation

792

945

-16.7%

 

GHG emissions intensity

GHG intensity from building energy (GRI-CRESS: CRE3)

kg CO2e/m²/year

5.7

5.6

0.3%

 

Water

Total

Total water consumption (GRI:303-1)

N/A

N/A

N/A

from -2% in 2019 to -5% in 2021

Water intensity

Building water intensity (GRI-CRESS: CRE2)

m³/m²/year

N/A

N/A

N/A

 

Waste

Total

Total waste collected (GRI: 306-1)

tonnes

N/A

N/A

N/A

from -2% in 2019 to -5% in 2021

 

Recycling rate

%

N/A

N/A

N/A

 
Stakeholder engagement performance

Impact area

Indicator

Measure

Units of measure

2020

2019

change

Plan 2020-2022

Engage with stakeholders

Tenant satisfaction

Response rate (GRI: 102-43)

%

38.6%

39.5%

- 0.9 pp

Tenants give the Fund a score higher than 7

Average total score (GRI: 102-43)

#

7.3

7.2

+ 1.4%

Leases

Number of new leases

#

2,921

4,095

- 28.7%

By end 2020, 20% of all
rental contracts

Number of green leases

#

1,576 of 17,289

237 of 18,522

7.8%

Client satisfaction

Response rate (GRI: 102-43)

%

n/a

 

n/a

Clients give the Fund a score higher than 7

Average total score (GRI: 102-43)

#

n/a

7.8

n/a

Sustainable stewardship

Considerate constructors scheme

Registered construction projects

#

21 of 32

16 of 43

+ 28.4 pp

In 2020, 75% of construction sites (€) registered under Considerate Constructors Scheme (‘Bewuste Bouwer’)

Participation rate (by acquisition price)

%

66.8%

38.1%

+ 28.7 pp

Board seats and committee memberships industry organisations, related to the Dutch residential sector

Number

#

4

4

0.0%

Gain board seats and committee memberships industry organisations: have at least one active board/committee memberships within industry organisations in the Dutch residential sector sector

Make areas heart safe

Availability for tenants

%

100.0%

n/a

0.0%

our
tenants and communities have an AED
available within six minutes walking distance

Availability for communities

%

100.0%

n/a

0.0%

Being a responsible organisation

Affordable real estate

mid-rental properties (€737-1000)

Newly signed acquisitions

#

766

610

- 74.4 pp

Period 2019-2021, newly signed acquisitions will include 1,500 mid-rental (€ 711-1,000) properties

%

28.5%

51.2%

+ 25.6 pp

Fair rental prices

Indexation above cpi

%

0.7%

0.1%

0.6%

 

Responsible business operation

Digital tenant portal

Usage of tentants

%

32.7%

0.0%

+ 32.7 pp

In 2021 all our tenants can use our tenant portal incl. sustainability performance

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 and fuel) 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 2020 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.