Responsible investment performance indicators
Continued improvement of the Fund’s sustainability performance
Impact area | Indicator | Measure | Units of measure | 2022 | 2021 | Change | Plan 2022-2024 |
Fund sustainability benchmark | GRESB | Star rating | # stars | 5 | 5 | +0 | Improve score and obtain GRESB 5 star rating |
GRESB | Overall score (GRI-CRESS: CRE8) | # [1-100] | 91 | 90 | +1 |
Investing in sustainable real estate
Impact area | Indicator | Measure | Units of measure | 2022 | 2021 | change | Plan 2022-2024 |
Asset sustainability certificate | GPR-Building | Green Building Certificates floor space (BREEAM or GPR) (GRI-CRESS: CRE8) | % | 99% | 100% | -0.7 pp | All standing investments GPR labelled and by end of 2023 an average score of 6.53 |
Average score (GRI-CRESS: CRE8) | # | 6.53 | 6.48 | + 0.8% | |||
GPR-Building (new acquisitions) | Labelled floor space (GRI-CRESS: CRE8) | % | 100.0% | 100.0% | 0 pp | Minimum GPR of 8.0 | |
Average score (GRI-CRESS: CRE8) | # | 8.0 | 7.6 | + 5.6% |
Reducing environmental impact
Impact area | Indicator | Measure | Units of measure | 2022 | 2021 | change | Plan 2022-2024 |
Energy performance certificate | EPC | Labelled floor space (GRI-CRESS: CRE8) | % | 98% | 100% | -1.6 pp | 100% green portfolio (A, B, C energy labels) and 65% energy label A or better by end 2022 |
Green labelled floor space (A, B or C label) | % | 100% | 100% | 0 pp | |||
A labelled floor space | % | 79.3% | 62.1% | + 17.2 pp | |||
Average EP2 | # | 139.9 | 161.7 | -13.5% | |||
Renewable energy | Solar panels | Installed kWp of solar panels | kWp | 17,966 | 16,427 | + 9.4% | Add renewable energy on location, installing 18.500kWp of solar panels before end of 2022 |
Gas free homes | Percentage of gas free homes | % | 43.4% | 41.7% | 100% Gas free in 2045 |
Impact area | Indicator | Measure | Units of measure | 2022 (Abs) | 2021 (Abs) | change (LfL) | Plan 2022-2024 |
Energy | Electricity | Total landlord-obtained electricity (GRI: 302-2) | MWh | 8,955 | 9,134 | -3.4% | |
Gas | Total gas consumption (GRI: 302-1) | 3,595 | 3,491 | 3.0% | |||
District heating and cooling | Total district heating and cooling (GRI: 302-2) | - | - | 0.0% | |||
Total | Total energy consumption from all sources (GRI: 302-2) | 12,551 | 12,626 | -1.6% | on average -4% / year | ||
Energy intensity | Building energy intensity (GRI-CRESS: CRE1) | kWh/m²/year | 12 | 13 | -1.6% | ||
Energy and associated GHG disclosure coverage | 137 of 286 | 135 of 273 | |||||
GHG emissions | Direct | Scope 1 (GRI: 305-1) | tonnes CO2e | 850 | 826 | 3.0% | |
Indirect | Scope 2 (GRI: 305-2) | 3,018 | 3,078 | -3.4% | |||
Total | Total GHG emissions (GRI: 305-2) Scope 1 and 2 | 3,868 | 3,904 | -2.0% | on average -4% / year | ||
Total GHG emissions after compensation | 850 | 826 | 3.0% | ||||
GHG emissions intensity | GHG intensity from building energy (GRI-CRESS: CRE3) | kg CO2e/m²/year | 3.8 | 4.0 | -2.0% | ||
Water | Total | Total water consumption (GRI:303-1) | m³ | N/A | N/A | N/A | -5% in 2022 |
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 | -5% in 2022 |
Recycling rate | % | N/A | N/A | N/A |
Stakeholder engagement performance
Impact area | Indicator | Measure | Units of measure | 2022 | 2021 | change | Plan 2022-2024 |
Engage with stakeholders | Tenant satisfaction | Response rate (GRI: 102-43) | % | 34.4% | 37.4% | -3 pp | Tenants give the Fund a score higher than 7 |
Average total score (GRI: 102-43) | # | 7.3 | 7.3 | 0% | |||
Leases | Number of new leases | # | 3,683 | 3,017 | + 22.1% | By the end of 2022 40% of the rental contracts include a sustainability clause | |
Number of green leases | # | 7,471 of 18,447 | 4,415 of 17,638 | 15.2% | |||
Client satisfaction | Response rate (GRI: 102-43) | % | n/a | n/a | n/a | Clients give the Fund a score higher than 7.5 | |
Average total score (GRI: 102-43) | # | n/a | 7.1 | n/a | |||
Sustainable stewardship | Considerate constructors scheme | Registered construction projects | # | 30 of 33 | 26 of 29 | 1.3% | In 2022, 75% of construction sites (€) registered under Considerate Constructors Scheme (‘Bewuste Bouwer’) |
Participation rate (by acquisition price) | % | 86.5% | 82.1% | + 4.4 pp | |||
Board seats and committee memberships industry organisations, related to the Dutch residential sector | Number | # | 5 | 6 | -16.7% | 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 | % | 99.8% | 100.0% | -0.2 pp | By the end of 2022, 100% of our tenants have an AED available within six minutes walking distance |
Being a responsible organisation
Affordable real estate | mid-rental properties (€ 764-1,060) | Newly signed acquisitions | # | 288 | 252 | + 14.3% | In 2022, 60% of the newly signed acquisitions will be mid-rental (€ 764-1,060) properties |
% | 80.0% | 58.3% | + 21.7 pp | ||||
Fair rental prices | Indexation above cpi | % | -3.3% | 0.8% | -4.1 pp | ||
Responsible business operation | Digital tenant portal | Usage of tentants | % | 92.4% | 92.3% | + 0 pp | In 2022 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 the Fund has authority to introduce and implement operating policies and are responsible for purchasing energy and water and handling waste. The Fund’s management control differs greatly by asset type (e.g. residential and office); these differences affect the level of influence the Fund has over the sustainability performance of its assets.
Like for like data and changes represents assets which have been fully owned and operational for the full 24 month period in the 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 2022 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.