Beyond financial returns
It is widely cited that the real estate sector consumes annually over 40% of global energy; buildings originate 20% of global greenhouse gas emissions and use 40% of raw materials. The EU has a target for the real estate industry to be net zero by 2050.
We aim to do our part to reach this goal through a comprehensive ESG policy and programme of work and tools. As a newly established company, we are in the process of running CRREM analyses and initiating BREEAM assessments on the assets we’ve acquired to date. This will enable us to understand the current profile of our portfolio with respect to energy efficiency and the ESG credentials of our buildings. The vast majority of our portfolio has never been assessed from a sustainability perspective, and we look forward to the opportunity to be an agent of positive change.
We are undertaking refurbishments where energy efficiency improvement and enablement will be implemented as a matter of course – through, for example, LED lighting, heat pumps, better insulation, EV charging points and bike storage.
In addition, we are investigating the installation of solar panels in order to transform the energy consumption and carbon emissions profile of our assets. Finally, we are committed to working with our property managers and tenants to make the on-the-ground experience for tenants and the local community as positive as possible, and to work with them to achieve their objectives.
We anticipate being able to demonstrate marked improvements in our portfolio through industry standards like CRREM, BREEAM and GRESB and we are committed to sharing our progress towards these goals.
Although the materiality of our ESG efforts is largest within our investment portfolio, we are also mindful of creating a positive impact within Boreal IM.
To that end, we are working towards making Boreal a desirable place to work through things like our partnerships with Myndup and The Childhood Trust; social and professional development committees; and other internal initiatives focused on employee development.