GOVERNANCE OF SUSTAINABILITY ACTIVITIES
Our Sustainability team as the driving force
Our Sustainability team, located in Amsterdam, proposes and promotes Redevco’s responsible investment approach. It has primary responsibility for developing, implementing and overseeing the execution of Mission 2040 – our long-term sustainability ambition of achieving a Net Zero Carbon portfolio by 2040.
The Head of Sustainability reports to the Board member responsible for Strategy, Innovation & Sustainability and the Board is given a monthly ESG update and Mission 2040 status report.
The Sustainability team drives the execution of our sustainability initiatives for the assets under management. Each team member is involved in one of our signature projects. The Head of Sustainability provides specific ESG input and recommendations to the Investment Committee on all acquisition and (re)development opportunities. Furthermore, to ensure that relevant and appropriate ESG parameters are included in investment mandates, the team collaborates closely with colleagues representing our investor clients at Client & Fund Management. They also work in close cooperation with our global asset management community, in particular through monthly meetings with the country Portfolio Directors, to ensure regular engagement with the people ultimately responsible for implementing our sustainability initiatives at asset level.
Regular interaction with the Portfolio Directors as well as Asset Managers aims to ensure that every opportunity to take action to drive down energy and carbon intensity at asset level is captured. Each lease negotiation, renewal, minor or major maintenance intervention and especially the major redevelopments are all moments for deliberate decision-making in support of our ambition. At least one colleague in every Redevco country team has trained as a sustainability specialist and together with members of the central Sustainability team they support the activities of the Portfolio Directors and Asset Managers.
Redevco organises activities to promote sustainability knowledge and expertise among our Asset Managers, Project Managers, Development Managers and Transaction Managers. In 2021, these included a series of ‘sustainability power breaks’ to discuss sustainability issues they encounter in their day-to-day work. We also organised a Lunch & Learn session for the wider organisation on the progress of our Mission 2040 and a sustainability Masterclass specifically for our Property Managers so that they could learn from each other and discuss case studies.
To decrease Redevco’s own organisational carbon footprint, the Sustainability team sets the corporate sustainability targets for our office operations, focusing on areas such as office energy use, company cars and air travel. Finally, the team is also responsible for coordinating the grant-making activities of the Redevco Foundation.