The real estate business has an important and multi-dimensional impact on society and our living.
When a property is purchased, the necessary due diligences always comprise sustainability matters. They go through matters related to soil, energy efficiency and background information about the main tenant, for instance. We also thoroughly assess sustainable forms of transport, the location of the investment target with regard to public transport and the life cycle costs.
We demand contractors in our new build projects to follow widely used industry standards that are extensive in governance standard. In the end of 2019 we defined our Supplier code of conduct as part of our sustainability guidelines. Where we acquire properties operated by the tenants, we analyse their compliance with regulations and pratices to make sure long term investment case is built on solid and sustainable foundations.
In our choices we try to find as low-carbon alternatives as possible. The investment targets of both the Finnish Real Estate Fund and Care Fund have used renewable electricity based on wind power since the beginning of 2018. In addition, we always evaluate the possibilities of using geothermal and solar energy in our own development projects. Towards the end of 2019, a school centre that we built in Lauttasaari was completed (primary school for about 600 pupils and nursery for 300 children) and delivered to the city of Helsinki. This is the first own development project in our real estate funds. The school centre is completely carbon neutral during its use. The heating and cooling energy used by the centre is produced with geothermal energy, and the object also uses solar panels. A comprehensive system monitoring the quality of the indoor air has also been installed in the school centre.