Environmental example 1, description
Given the contribution of real estate to the emission of greenhouse gases and the use of natural resources, increasing the sustainability of existing real estate is especially important. This means that return (adjusted for risk) and sustainability will go hand in hand over time. An example of this is the investment in Deutsche Wohnen [German Living] (approx. € 320 million). This company owns approximately 160,000 homes and care apartments and systematically renovates these – often ageing – apartments to bring them up to a more sustainable level. We measure progress in terms of the sustainability of the portfolio on the basis of the GRESB figures, among others. GRESB collects information about sustainability on the basis of an annual survey, which indicates the extent to which companies have a sustainability policy and whether they in fact implement this policy. The GRESB figures show that the listed real estate equities score better than the average results and that the portfolio managed by PGGM in turn structurally scores better than the average of the listed companies tracked by GRESB.
We continuously invest a lot of time to gain insight into the risks and impact of climate change on our portfolio.
Environmental example 2, description
Environmental example 3, description