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Driving our assets on a NET ZERO CARBON trajectory

Our Climate Strategy

Our commitment

We are committed to continuously improving the environmental performance of our European real estate portfolio, with the main objective of achieving carbon neutrality by 2050 in accordance with the Paris Agreements.

Our portfolio, valued at €33.5 billion of assets under management, spread over 11 different countries, invested in 5 asset classes (office, health/education, residential, retail, hotels) and totalling more than 1,526 buildings, implies a very broad spectrum of coverage of Primonial REIM's Environmental, Social and Governance (ESG) strategy.
€33,5

billion
of assets under
management

100%

of our real estate investments undergo
an ESG non-financial rating process

90

criteria are included in our assessment grid
for the non-financial
rating of office assets

1445

buildings
 

Our action plan:

1. Decarbonising our property portfolio
2. Monitoring & assessing our climate strategy

1. Decarbonising our property portfolio

Our 4 strategic axes:
 

By 2050

  • Aligning assets on a Net Zero Carbon trajectory.



 

On-going process

  • For buildings under development or undergoing restructuration and which are  managed by Primonial REIM: to assess the carbon for the whole life-cycle in order to reduce CO2 emissions. 

By 2030

  • Driving of objectives for all of Primonial REIM's real estate assets based on a best-in-progress principle of -5% carbon emissions per year,in line with the zero carbon trajectory set for 2050.
     

Quantified action plan

  • Input of  a systematic integration
    of quantified action, so that when assets are sold,  the buyer can follow-up to reach his
    ​​​​​​​Net zero Carbon target.
     

2. MONITORING & ASSESSING OUR CLIMATE TRAJECTORY


The environmental criteria of the real estate portfolio are managed using various management tools that enable the centralisation, sharing and analysis of building data (energy consumption, water, building usage, equipment condition, etc.) in order to implement the necessary actions.

Our teams define specific action plans for each building, in conjunction with the stakeholders, primarily the property managers and tenants.

2.1 CARBON PATH MONITORING

For the decarbonisation of our real estate assets, we collect data via the Deepki platform in order to guarantee the scientific reliability of the data by an independent player.

Our objective is to align the estimated future consumption of our real estate assets with the CRREM 1.5 C° trajectory on the basis of action plans reviewed annually (expected carbon savings, capex budget to be invested/already invested).
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Case study 

We partner with Deepki, an envrionmental data management and due diligence company.
 
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2.2 Sustainability risk mapping


The sustainability risk map analyses the exposure of Primonial REIM's assets to the main climate risks :

  • Define an action plan on common major risks
  • Identify the most exposed assets to define a specific action plan.
  • Review the list of trade-offs for assets exposed to a proven risk that are difficult to adapt.
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2.3 Extra financial rating of real estate assets

To support our approach as a responsible investor, we have established multi-criteria ESG rating grids divided into 7 themes, applicable to all our asset classes:
- Offices, Health/Education, Retail, Residential and Hotels.

These tools allow us to evaluate any new real estate acquisition on the basis of extra-financial information.

Throughout the management phase, we implement a continuous improvement process to optimise energy consumption and reduce the carbon impact of our property portfolio.

Thanks to our pro-active approach, we are able to establish a precise map of our real estate, highlight the improvement levers specific to each case encountered and establish a relevant action plan:

 
  • Optimisation of the management of the building's equipment
  • Preventive maintenance
  • Investment work


 
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