Sustainability at
CapMan Real Estate

At CapMan Real Estate our vision is to develop human centric real estate with a net positive environmental impact. We aim to generate attractive returns for investors while driving a green transition in our industry, optimizing real estate life-cycle value creation to all stakeholders, from the environment to local communities.

About our sustainability vision

Three themes build into our vision: developing human centric real estate, moving towards real estate development with a net positive environmental impact and basing our operations on transparent and accountable governance.

Human centric real estate

This means developing real estate truly centred around its users and the surrounding community. We want to develop real estate that is inclusive, delights our tenants and contributes to the development of liveable communities. Naturally, developing human centric real estate includes ensuring a  fair, safe and healthy work environment in our operations and throughout our supply chains.

Real estate with a net positive environmental impact

This means moving towards real estate that ultimately gives more than it takes in terms of climate and nature. Key to this is our life-cycle view to real estate development which means that in both renovations and new builds, we invest in and choose new solutions and innovative approaches that allow us to maximise our buildings overall life-cycle value and minimise life-cycle emissions and negative nature related impacts.

Transparency and accountability

We are accountable for our actions and transparent about our environmental, social and governance impact. We engage in solid sustainability practices, management and reporting. We promote transparency throughout our value chain and engage in robust supply-chain management. We provide trainings to ensure that our employees and partners have the tools awareness needed to comply with and be active partners on our sustainability path.

Sustainability programme 2023-2026

Environment

Climate and energy efficiency

• Reaching in-use operational net-zero emissions by 2035.
• Reaching upfront and in-use embodied net-zero emissions by 2040.
• Reducing commercial properties operational GHG emissions by 72 % per sqm by 2032 from a 2021 base year. (Interim Science Based Targets)*
• Reducing residential properties operational GHG emissions by 50 % per sqm by 2032 from a 2021 base year. (Interim Science Based Targets)*
• Reducing energy intensity by 26% by 2032 compared to 2021, excluding mandates.
• Assessing both physical and transitional climate-related risks for all assets in accordance with IFRS, CRREM and/or EU Taxonomy, and creating adaptation plans to mitigate risks.
• Purchasing renewable electricity to all standing assets with direct control, excluding mandates.

*Commercial and residential properties operational GHG emissions have targets set for 2032 aligned with the Science Based Targets initiative.

Towards nature positive

• Developing and implementing a Nature Positive concept based on best practice and industry frameworks (incl. circular concept)
• Conducting annual biodiversity risk assessment for all properties
• Ensuring waste recycling facilities including bio, paper, cardboard, plastic, glass and metal sorting are established for all assets, if municipality/private waste services available
• Achieving waste material utilization rate of 60% for assets with data availability
• Reducing water intensity by 4% by 2026 compared to 2021 in commercial properties (for hotels, adjusted to the number of sold rooms)
• Achieving a minimum 80% demolition and construction waste recycling rate

Social

High satisfaction and well-being of tenants & users

• Net Promoter Score (NPS) > 0** from tenant satisfaction survey
• Overall satisfaction 4.0** from tenant satisfaction survey
• General satisfaction regarding facility services included in the lease contract score 4.0** from tenant satisfaction survey
• Communication and contacting by the landlord score 4.0** from tenant satisfaction survey
• Increasing tenant and customer sustainability awareness

**For assets owned by CapMan Real Estate for >3 years.

Active and responsible member of local communities

• Increasing collaboration with research and network activities
• Developing active communication and process to address community concerns established
• Supporting selected charities and contributing to local communities

Fair, safe and healthy working environment

• Identifying human rights risks throughout the supply chain by conducting a human rights risk assessment, and plan mitigative actions.
• 0 fatalities
• Reducing incident rate at construction sites.
• Ensuring fair working conditions throughout the supply chain by at least requiring all relevant suppliers to follow CapMan Supplier Code of Conduct.

Governance

Transparent and accountable business

• Increasing the share of EU Taxonomy aligned properties to 40%.
• Certifying 75% of the sqm under management (excl. mandates).
• Including sustainability clauses in all new lease contracts (“green leases”).
• Increasing property level energy, GHG emission, water and waste data coverage to 100%, including commercial tenant energy usage and GHG emissions.
• Increasing the sustainability awareness of our employees by providing training and active engagement.
• Employees’ variable remuneration is partially linked to CapMan Real Estate Sustainability Programme progress.
• Developing and implementing clear roles, responsibilities, action plans, processes, guidelines, and policies for ESG at CapMan Real Estate.
• Reporting on sustainability progress and KPIs in line with best practice (such as GRESB, UN PRI, SFDR, IFRS).
• Creating an ESG restriction list for CapMan Real Estate.
• Requiring suppliers to meet CapMan sustainability standards (Supplier Code of Conduct and CapMan Real Estate Sustainable Procurement Policy, CapMan Real Estate Design & Construction Manual and CapMan Real Estate Tenant Fit-Out and Refurbishment Manual).