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Responsible investment performance indicators

Continued improvement of the Fund's sustainability performance

Impact area

Indicator

Measure

Units of measure

2021

2020

Change

Plan 2021-2023

Fund sustainability benchmark

GRESB

Star rating

# stars

5

4

+1

Annual improvement of overall GRESB score

GRESB

Overall score (GRI-CRESS: CRE8)

# [1-100]

90

83

+7

Investing in sustainable real estate

Impact area

Indicator

Measure

Units of measure

2021

2020

% change

Plan 2021-2023

Asset sustainability certificate

BREEAM

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

%

96.0%

93.6%

+2.4 pp

100% BREEAM-NL certified by end 2021 and 80% certitied BREEAM-NL in-Use GOOD or better by end 2021 at management level

Certificate BREEAM-NL in-use PASS

%

1.9%

9.9%

-8.0 pp

Certificate BREEAM-NL in-use GOOD

%

83.8%

81.7%

+2.1 pp

Certificate BREEAM-NL in-use VERY GOOD

%

10.4%

2.0%

+8.4 pp

Certificate BREEAM-NL in-use EXCELLENT

%

0.0%

0.0%

+0.0 pp

Certificate BREEAM-NL in-use OUTSTANDING

%

0.0%

0.0%

+0.0 pp

BREEAM (new acquisitions)

Labelled floor space (GRI-CRESS: CRE8)

%

0.0%

0.0%

+0.0 pp

Acquisitions and major renovations/ redevelopments minimum BREEAM-NL In-use GOOD

Average score (GRI-CRESS: CRE8)

%

n/a

n/a

n/a

Reduce Environmental impact

Impact area

Indicator

Measure

Units of measure

2021

2020

% change

Plan 2021-2023

Energy performance certificate

EPC

Labelled floor space (GRI-CRESS: CRE8)

%

100.0%

100.0%

+0.0 pp

100% green portfolio (A, B, C energy labels) in 2021

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

%

98.6%

98.4%

+0.2 pp

A labelled floor space

%

87.4%

87.7%

-0.4 pp

By end of 2021 95% of the portfolio has an energy label A or better (energy index <0.8)

Average EP2

#

235.2

244.2

-8.9

Renewable energy

Solar panels

Installed kWp of solar panels

kWp

349.2

242.1

+107.1

By end 2021, solar panels generate 1,000 kWp

Impact area

Indicator

Measure

Units of measure

2021 (abs)

2020 (abs)

% change (LfL)

Plan 2021-2023

Energy

Electricity

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

MWh

2,726

2,783

-6.7%

Annual reduction of environmental impact to increase:

Gas

Total gas consumption (GRI: 302-1)

1,433

2,401

-77.4%

 

District heating and cooling

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

-

-

0.0%

 

Total

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

4,159

5,184

-39.9%

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

Energy intensity

Building energy intensity (GRI-CRESS: CRE1)

kWh/m²/year

21

26

-39.9%

 
 

Energy and associated GHG disclosure coverage

 

30 of 62

28 of 60

  

GHG emissions

Direct

Scope 1 (GRI: 305-1)

tonnes CO2e

340

570

-77.4%

 

Indirect

Scope 2 (GRI: 305-2)

1,164

1,188

-6.7%

 

Total

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

1,505

1,759

-30.0%

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

Total GHG emissions after compensation

340

570

-77.4%

 

GHG emissions intensity

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

kg CO2e/m²/year

8

9

-30.0%

 

Water

Total

Total water consumption (GRI:303-1)

N/A

16,343

N/A

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

Water intensity

Building water intensity (GRI-CRESS: CRE2)

m³/m²/year

N/A

0.25

N/A

 

Waste

Total

Total waste collected (GRI: 306-1)

tonnes

N/A

170

N/A

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

 

Recycling rate

%

N/A

37%

N/A

 
Stakeholder engagement performance

Impact area

Indicator

Measure

Units of measure

2021

2020

% change

Plan 2021-2023

Engage with stakeholders

Tenant satisfaction

Response rate (GRI: 102-43)

%

38%

n/a

n/a

Tenants give the Fund a score higher than 7

Average total score (GRI: 102-43)

#

6.5

n/a

n/a

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)

#

7.1

7.8

-9%

Sustainable stewardship

Considerate constructors scheme

Registered construction projects

#

2

n/a

n/a

In 2021, 100% of construction sites (€) registered under Considerate Constructors Scheme (‘Bewuste Bouwer’)

Participation rate (by acquisition price)

%

90.0%

n/a

n/a

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

Number

#

1

2

-50%

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

Make areas heart safe

Floorspace

%

97.8%

55.7%

+42.1 pp

By the end of 2021, all of our
tenants in shopping centres and communities have an AED available within six minutes walking distance

Being a responsible organisation

Impact area

Indicator

Measure

Units of measure

2021

2020

% change

Plan 2021-2023

Sustainable agreements

Leases

Number of new green leases

#

26 of 39

26 of 48

+25.8%

Annual increase in number of green leases

Number of green leases total

#

204 of 485

167 of 517

+9.8%

Responsible business operation

Digital tenant portal

Usage of tentants

%

0.0%

0.00%

No change

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, 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 2021 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.