11/09/2023
The CapMan Real Estate Hotels fund has taken significant steps to transform its portfolio in a more sustainable direction. Between 2021 and 2022 the Fund was able to decrease its energy usage, intensity, CO2 emissions and GHG intensity – all amidst increasing occupancy rates in a market gaining speed post-pandemic. Overall, the fund reduced its operational market-based CO2 emissions and GHG intensity by 37% and its absolute energy consumption and energy intensity by 8%. The Hotels Fund accounted for around 45% of CapMan Real Estate total emissions in 2021 but 34% in 2022 making this progress even more significant.
This progress was a result of a coordinated joint effort to enhance the funds sustainability performance on multiple fronts. Key efforts behind these results were:
- The fund switched to carbon-free energy in most of its assets and encouraged its tenants to do the same.
- Energy consumption monitoring system Enerkey was taken into use.
- When major renovation projects took place, measures improving energy efficiency were integrated into them. These included for instance improved heat recovery, pool technology renewal improving water and energy efficiency, life cycle design and renewal of glass roof.
- Building automation optimization projects.
- Energy audits which helped assess where improvements can and should be made.
- Solar panel feasibility studies for all assets.
- Alternative heating systems, such as geothermal heating, were assessed.
- Energy data quality was improved by connecting properties to energy data.
- Active tenant engagement, increase of ESG related awareness and collaboration.
Going forward the fund continues to invest in green transition especially due to the age of the building stock. The fund plans to further decrease its energy intensity and emissions as outlined in its carbon reduction roadmap to achieve short and long-term GHG emission targets in 2027 and 2032. The roadmap was created in 2022 in line with the Science Based Targets initiative.
Photos: Hotel Crowne Plaza, Hotel Glo Art
