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Elo Mutual Pension Insurance Company

PRI reporting framework 2020

Export Public Responses

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Post-investment (monitoring and active ownership)


PR 08. ESG issues in post-investment activities

08.1. Indicate if your organisation, and/or property managers, considers ESG issues in post-investment activities relating to your property assets.

08.2. Indicate whether your organisation, and/or property managers, considers ESG issues in the following post-investment activities relating to your property assets.

          Communication with tenants and other partners e.g. by providing them property-specific ESG information

08.3. Describe how your organisation, and/or property managers, considers ESG issues in post-investment activities related to your property assets.

We monitor consumption figures on energy, electricity, water and waste and seek for opportunities to improve efficiency. This is mainly conducted by the managers, who monitor the figures through their IT-systems and seek opportunities to reduce these impacts as well as provide information for us related to these issues. Specific projects aiming at reducing environmental impacts (e.g. waste management improvements, air ventilation units, lighting, building automation systems, window sealings etc.) are discussed in cooperation with managers. 2019 we changed to carbon neutral electricity in our directly owned buildings.

We conduct tenant satisfaction surveys with our partners on yearly basis and go through the results as well as tenants' suggestions for improvements with property managers and decide on arrangements based on the results. We require careful selection of service providers on property maintenance and projects in order to assure that all regulations and legislation is met and sites are safe and environmental issues are covered.

With one of our main management partner we have established a cooperation group consisting of Elo's and managers' key personnel in order to develop implementation of energy and environmental issues.

Property monitoring and management

PR 09. Proportion of assets with ESG targets that were set and monitored

09.1. Indicate the proportion of property assets for which your organisation, and/or property managers, set and monitored ESG targets (KPIs or similar) during the reporting year.

(in terms of number of property assets)

09.2. Indicate which ESG targets your organisation and/or property managers typically set and monitor

Progress Achieved
          Energy and electricity consumption
          Water consumption
          Waste amounts and recycling
          Extension of properties monitored, commitment to national energy efficiency agreement. Monitoring system development and green electricity 2019.
          Extended installations of new technology equipment to decrease water comsumption
          Improvements in waste management facilities etc. Education offered for tenants Renewal of waste management agreements in office buildings.
Progress Achieved
          Tenant satisfaction
          Slightly increased tenant satisfaction. We have updated processes concerning activities linked to customer relationships such as property management, leasing, lease administration
Progress Achieved
          Potential deficiencies in grey economy prevention (partner selection, tax compliance etc.)
          Conflict of interest considerations
          No major defects or risks identified
          Issues during the reporting year handled according to operation protocols and transparent decision-making

09.3. Additional information. [Optional]

During the reporting year, we conducted calculation of carbon dioxide emissions for the majority of our portfolio in property level. Target for energy consumption reduction in the portfolio was set to -7,5% by year 2025.

We aim at systematic measurement of incidents and insurance claims in our properties in order to improve prevention of these incidents for taking place.


PR 10. Certification schemes, ratings and benchmarks (Private)

Property developments and major renovations

PR 11. Proportion of developments and refurbishments where ESG issues were considered

11.1. Indicate the proportion of active property developments and major renovations where ESG issues have been considered.

(by number of active property developments and refurbishments)

11.2. Indicate if the following ESG considerations are typically implemented and monitored in your property developments and major renovations.

11.3. Additional information. [Optional]

Occupier engagement

PR 12. Proportion of property occupiers that were engaged with

12.1. Indicate the proportion of property occupiers your organisation, and/or your property managers, engaged with on ESG issues during the reporting year.

(in terms of number of occupiers)

12.2. Indicate if the following practises and areas are typically part of your, and/or your property managers’, occupier engagements.

12.3. Additional information. [Optional]

In some of our buildings, modern information screens in common areas provide real-time information on  consumption figures (energy, water etc.) of the building as well as advice in order to reduce these environmental impacts.

For residential tenants, we have building specific websites, which offer information on energy efficiency, general instructions, contact information etc.

In our large shopping centers waste management is a significant issue. We aim at minimizing waste amounts and maximizing recycling by increasing awareness and offering practical guidance for improved waste management in cooperation with our tenants.

PR 13. Proportion of green leases or MOUs referencing ESG issues

13.1. Indicate the proportion of all leases signed during the reporting year that used green leases or the proportion of Memoranda of Understandings (MoUs) with reference to ESG issues.

(in terms of number of leases or MoUs)

13.2. Additional information.

We provide guidance for tenants in environmental efficiency objectives by providing for example sustainability guides and tips. In some properties, we have certifications (LEED), which require many ESG related operations such as improved waste management, energy efficiency monitoring etc. These operations and initiation of certificates is done in cooperation with our tenants. Tenants are also committed in environmental efficiency objectives in many properties through maintenance rents.