Sustainability Library

The INREV Sustainability Library is an interactive library including reports and case studies from our members that illustrate best practice worldwide.

Using GRESB to leverage investment portfolio sustainability

Prepared by Goodman and INREV

Over the last 10 years or so, the investment community has become increasingly alert to the sustainability qualities of the property portfolios they invest in.

Sustainability has been embraced for its potential to provide cost savings to customers and value to capital partners, as well as for its benefits to wider society. The case study describes Goodman’s response to this trend and how they have continually improved their GRESB score resulting in a steady outperformance of the peers.

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The impact of climate change on governance and risk management

Prepared by the Task Force on Climate related Financial Disclosures

One of the essential functions of financial markets is to price risk to support informed, efficient capital-allocation decisions and it is increasingly important to also understand the governance and risk management context in which financial results are achieved. One of the most significant, and perhaps most misunderstood, risks that organisations face today relates to climate change. While it is widely recognised that continued emission of greenhouse gases will cause further warming of the planet which could lead to damaging economic and social consequences, the exact timing and severity of physical effects are difficult to estimate. The large-scale and long-term nature of the problem makes it uniquely challenging, especially in the context of economic decision making.

To help identify the information needed by investors to appropriately assess and price climate related risks and opportunities, the Financial Stability Board recommends for consistent, comparable, reliable, clear and efficient climate related disclosures. The framework considers the impact of climate change on the following four elements: (1) governance, (2) strategy, (3) risk management and (4) metrics and targets. 

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Closing the gap between Investor Relations and Sustainability Teams

Prepared by SustainAbility

Integrating sustainability into investor communications is genuinely difficult and requires internal collaboration.

Too few companies get clear sustainability performance messages out to their investors and one of the main barriers is the internal dynamic between Sustainability and Investor Relations (IR) departments. 

The report makes the case for stronger internal engagement to enable proactive, integrated communications to investors. It starts by outlining five key gaps related with language, time frame, expertise, relationships and resources. It then moves on to examine each gap in detail, exploring the reasons, the pain points and solutions that have been proven to help close the gaps. The report also includes case studies in which companies have successfully applied the solutions to build stronger internal collaboration on investor communications.

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The ambition to create the most sustainable redeveloped shopping centre in the Netherlands has paid off

Prepared by CBRE and CBRE Global Investors

The case study of Heuvel Eindhoven shows how the implementation of a sustainable strategy can turn an outdated asset into one of the top-rated shopping centres in the Netherlands with a double Outstanding score. 

This project has been approached first and foremost from the perspective of sustainability and provides details of technical and operational improvements. 

This resulted in a BREEAM-NL In-Use Outstanding score for the asset and an Outstanding score for the operations. The score of 90.82% is the highest score in the field of operations in the Netherlands, unique for a 25 year old shopping centre. 

BRIGHT: Optimise Energy Consumption

Prepared by Sonae Sierra and INREV

BRIGHT is an innovative project developed by Sonae Sierra in 2014, which uses a theoretical model to produce optimal energy consumption figures for each of its shopping centres.

Le Terrazze in Italy provides a case in point. After applying the Bright analysis, it was found that the shopping centre was consuming more energy in practice than it should in theory.

Through a series of management measures, and the introduction of free cooling, Le Terrazze was able to identify potential savings of €163,000 – equivalent to 27% of the shopping centre’s annual electricity bill.

Climate change investment solutions: a guide for asset owners

Prepared by the Global Investor Coalition on Climate Change

The aim of this guide is to provide asset owners with a range of investment strategies and solutions to address the risks and opportunities associated with climate change. The guide is targeted at asset owners and more specifically at trustee boards and investment committees, but also contains insights for asset managers. The guide concludes that there is a need for these actions to be more widely integrated into mainstream investment processes to ensure that investment portfolios are more resilient to the financial implications of climate change. This requires, in part, the development and adoption of new industry norms, tools and expertise that embed climate change into core investment processes, which this Climate Change Investment Solutions guide aims to contribute to.

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Five stage process to implement an organisational energy efficiency programme

Prepared by the World Business Council for Sustainable Development

A guide to developing the business case for saving energy in real estate portfolios.

The toolkit is a practical guide for organisations to plan and initiate energy efficiency programmes. It provides a variety of corporate approaches towards achieving efficient building portfolios, which assist in developing an approach that best fits your organisation.

The tool guides you through a five step process, first the creation of a vision, the planning of the implementation process, and the organisational implementation. This is followed by evaluation and measuring of the outcome and the final step is the conclusion of results and related feedback.

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Inter-connections between risks are becoming stronger

Prepared by The World Economic Forum

A report connecting global risks to local economies.

60 million people, equivalent to the world’s 24th largest country, are forcibly displaced, and crimes in cyberspace costs the global economy an estimated US$445 billion, higher than many economies’ national incomes.

The Global Risks Report 2016 highlights the most significant long-term risks worldwide. The year 2016 marks a forceful departure from past findings, as the risks which the Report has been warning about over the past decade are starting to manifest themselves in new, sometimes unexpected ways and harm people, institutions and economies.

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What can be measured, can be improved

Prepared by EUROCHAMBRES – The Association of European Chambers of Commerce and Industry

An assessment of the transposition of the Energy Efficiency Directive into Member State legislation.

According to the EU Energy Efficiency Directive of 2012, companies are required to regularly undergo mandatory energy audits or implement energy management systems by the December 2015 deadline. At the same time, EU Member States must develop programmes to promote voluntary energy checks to SMEs, including through financial incentives.

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Design impacts economic performance

Prepared by World Green Building Councils

A paper to measure the quantative effect of office design on health, wellbeing and productivity of staff.

One of the key barriers to incorporating health, wellbeing and productivity considerations into business decisions has been confusion around what to measure and how.

This paper proposes a simple, high level framework for measuring organisational and financial outcomes (such as absence rates, staff turnover and medical complaints) and relating those back to the physical features of buildings and employee perceptions. 

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