SAM manages three direct property portfolios. A) the 100% owned Storebrand LIV portfolio (Norway) and B) SEN KS a Norwegian property fund (Inrev type: Core) with abt. 75% external shareholders and C) the Swedish fund SPP Fastigheter (similar to B). Portfolio A) primarily invests in existing properties (re-developments), whereas portfolios B) and C) since inception in 2010 have been focused on growing it's portfolio, purchasing new properties.
Portfolio A): ESG is addressed in the investment selection, especially in re-development projects. Our ongoing Oslo CBD new-build project VIA (www.viavika.no) is one of Oslo's largest re-development projects and will be certified as BREEAM-NOR Excellent and Energy class A. Breeam certifiation, with target rating of minimum Very Good, will be used for certifiable (re)development projects. When this certification is not allowed, main BREEAM project quality requirements are part of the project's sustainability program, along with BREEAM In-Use requirements for grade Excellent. Where BREEAM Communities is relevant, it is incorporated, as is the case with the development of Økern Sentrum (http://okernsentrum.no/en/).
Portfolios B + C): In addition to the descriptions for A) and (re)developmen/refurbishment over, ESG is addressed during investment selection in a two-folded way. 1) This is a Core-portfolio with an investment strategy to buy modern, fully-let properties at central locations and profitable long-term outlooks, with attractive tenants. Investment opportunities within this space normally includes ESG postivie attributes, and we seek to push ESG standards throughout the process. This was the case with the 2019 SEN KS forward investment in a hotel redevelopment project, where scrutinizing technical and sustainablitiy DD served to increase environmental standards and introduce BREEAM certification to the whole of the project. 2) In our risk-assesment (cost of capital as well as due-dilligence) ESG factors are incorporated as to both screen yes/no and for valuation purposes.