ESG Report 2023: Density with High Standards for Building Culture
The ESG Report of Immofonds Asset Management AG provides information about the strategic priorities and progress in 2023. In addition, the report raises the question of how densified construction can succeed with high standards for building culture.
Zurich, July 1, 2024 – As manager of one of the largest and oldest real estate funds in Switzerland, Immofonds Asset Management AG has always placed special focus on long-term oriented action. This basic attitude has shaped our understanding of responsible business practices since 1955, and it applies to both IMMOFONDS and our IMMOFONDS suburban, launched in 2021. Gabriela Theus, Managing Director, says: "We are preparing the portfolios and development properties of our investment vehicles for a sustainable future."
The ESG Report 2023 shows which strategic priorities Immofonds Asset Management AG pursues for the portfolios it manages. The three most important achievements of the past year were:
IMMOFONDS successfully participated in the Global Real Estate Sustainability Benchmark (GRESB) for the first time. The results will be published for the 2024 participation. All properties have a Building Energy Performance Certificate of the Cantons (GEAK). Already 31% of IMMOFONDS buildings and 48% of IMMOFONDS suburban buildings fall into category A for direct CO2 emissions.
The results of reporting on energy consumption and greenhouse gas emissions are also encouraging. This was collected for the first time according to the uniform methodology of the REIDA Association, which significantly improved data quality. The greenhouse gas emission intensity (Scope 1+2) of IMMOFONDS decreased by 20% compared to the previous year. The heating system replacements have a positive effect here. For IMMOFONDS suburban, the reduction path shows that the planned energy renovations should be implemented by 2030.
In the reporting year, an online survey of residential tenants was conducted for the first time. Around 1,000 participants were able to provide valuable feedback. In terms of sustainability, it was shown that energy-efficient buildings and natural green spaces are very important to more than two-thirds of residents.
In addition, the report focuses on the question of how densification can be achieved so that acceptance and quality are created. The report shows that high standards for building culture are central to Immofonds Asset Management AG. Based on four current projects from the portfolio, the report discusses the social benefits of density, the struggle to preserve embodied energy, to create more living space, and to strengthen revenues.
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