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2017
GRESB
RESULTS
E U R O P E
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2017
GRESB
RESULTS
S p r e k e r sEugene GrüterDirecteur Sweco Nederland
Philip BischopHoofd Duurzaamheid, Sweco Capital Consultants
Sander Paul van TongerenManaging Director, GRESB
Prof. dr. Dirk BrounenTilburg University
Saskia van den Bronk [Moderator]Head of Sweco Capital Consultants
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ESG VASTGOEDFONDSENTHE NEXT STEP
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Veranderende wereld
Global trends
4
Circulaire economieAlles verbondenKlimaatverandering Samenleving Energie omslag
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5
Invloed op steden - vastgoed
URBANISATIE2050: 70% mensen leeft in steden
INDIVIDUALISERINGStijging aantal huishoudens,
afname gemiddelde
huishoudensgrootte
SHARING
ECONOMYMinder eigendom, meer delen
DUURZAAMHEIDZet de norm
VERGRIJZING Ouder, gezonder en
actiever
TECHNOLOGISCHE
INNOVATIEDisruptie en veranderingen
GLOBALISERINGMondiale beweging van
kapitaal, goederen en
mensen
KNOOPPUNTEN
Binnen
steden
Tussen
steden
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Duu
rza
am
he
idsco
nce
pte
n
2000
SMART REGIONS
SUSTAINABLE CITYCLEAN ENVIRONMENT CLIMATE ADAPTATION CLIMATE RESILIENT
REGIONS
Megatrends duurzaamheid
2006 2010 20172012 2015
2016
NEXT ECONOMY
PARIS AGREEMENT
POLICY AND
AWARENESSCIRCULAIR ECONOMY
HEALTHY URBAN
LIVING
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Wetgeving, next step
7
20212019 2020-20502023
• Nieuwbouw BENG
‘bijna energie neutraal’
• Sociale huurwoningen
gemiddeld energielabel B
• > 80% particuliere
huurwoningen
minstens label C
ENERGIENEUTRAAL2050
• Bestaande kantoren
minimaal label C
C
2030: Energielabel A
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8
Pensioenfondsen en ESG
Toezichthouder
• NL: DNB, pensioengeld verantwoorde wijze investeren
• Europa: IORP, Europese Pensioenfondsrichtlijn
Pensioenfederatie;
• Intentieverklaring convenant IMVO
• normen MVB in Code Pensioenfondsen
Benchmark, Vereniging van Beleggers voor Duurzame Ontwikkeling
• benchmark ESG pensioenfondsen
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9
Pensioenfondsen en SDG
koppeling beleggingsbeleid met doelen, impact meting
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10
Vastgoedfondsen en ESG
Toezichthouder
• NL: AFM
• Europa: AIFMD-richtlijn
Vertegenwoordiging
• INREV
• IVBN
Benchmark
• benchmark ESG vastgoedfondsen
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11
Vastgoedfondsen en ESG
Environmental
• klimaat akkoord, urgentie
• meetbare resultaten, coverage en gebruik
Social
• sustainable building naar sustainable community
• stakeholder engagement, huurder én investors
Governance
• transparantie beleid, stellen targets,
• invloed investors
Health & well-being
• onderdeel ‘next step’ ESG
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Beoordeling ESG vastgoedfondsen
12
Doelen - KPI’s in beleggingsrichtlijn
⌁Energy Consumption, MWh☁GHG Emissions, CO2 💧Water Use, m3
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Beoordeling ESG vastgoedfondsen
13
Nieuwe fondsen
• Beoordeling ESG vast onderdeel fondsselectie
• GRESB is preferent middel, brede kwantitatieve én kwalitatieve beoordeling
• Transparantie, cultural fit en invloed
• Vastlegging contractuele afspraken, duurzaamheidsparagraaf
Bestaande fondsen
• Analyse: beoordeling score GRESB, vergelijk vorig jaar en ‘peers’
• Monitoring: continue proces en onderdeel risico-oordeel
• Engagement: challenge vastgoedmanagers
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14
Beoordeling ESG vastgoedfondsen, next level
Transparant
Duurzaamheidbeleid; rapportage;
transparantie; deelname GRESB of vergelijkbaar.
Transparantie
GRESB deelname
Niveau 3
Optimaliseren
Performance
Niveau 4
Kop
Niveau 5
Verbeteren performance
Concrete actiepunten; beleid optimalisatie
GRESB Green Talker of Green Walker, score 40 - 60
Koplopers
Fonds in top van GRESB-grafiek
GRESB Green Star, GRESB-score, 60 - 80
Transparant in
rapportage
Deelname GRESB
Concrete acties
In portefeuille
GRESB score 40-60
Koplopers
GRESB Green Star
Inventariseren duurzaamheid
Duurzaamheidbeleid; energielabelling
Beleid en labelling
Niveau 2
Beleid
Label
Voldoen aan wettelijk minimum
AIFMD compliance
Lokale regelgeving
Wettelijk minimum
Niveau 1
Wettelijk
minimum?
Excellent
GRESB Leader
Excellent
Innovatie en adoptie ‘next step ESG’
GRESB Leader, GRESB-score > 80
Top
Niveau 6
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SAMEN MET ONZE KLANTEN ONTWERPEN EN ONTWIKKELEN WE DE SAMENLEVINGENEN STEDEN VAN DE TOEKOMST
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2017
GRESB
RESULTS
E U R O P E
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198
850
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Do you collect energy data?
2010 2012
Precise energy data coverage
24%
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2017
60%
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Sustainability clauses in
lease contracts?
2012
23%
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2017
Sustainability clauses in
lease contracts?
80%
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GRESB Score
GRESB
participants
(density)
2012n=445
0 20 40 60 80 100
2017n=823
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2013
2011
2012 2014
2015
20162017
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North America
Asia
Australia/NZ
Europe
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Europe
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2017
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ESG LEADERS ADOPT HEALTH & WELL-BEING
North
America
Europe AsiaAus/NZ
Other
2016 174
2017 252
30% 70100
63All GRESB
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Stakeholder
Engagement
Management
Policy &
Disclosure
Risks &
Opportunities
Monitoring &
EMS
Performance
Indicators
Building
Certifications
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57%
Precise energy data coverage
EUROPE
INDUSTRIAL RETAIL RESIDENTIAL HOTEL OFFICE
80 162 120 216 166
Intensities/Property type
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Europe
North
America
Australia/NZ
OFFICE
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Average L-F-L energy
consumption change
2016:
-1.1%
GRESB average annualized
intensity & l-f-l targets
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204
$2,324.5bn
11
$2.3bn
3
$11.6bn
433
$803.7bn
124
$346.9bnGlobally
diversified9
$26.7bn
66
$146.3bn
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204
$2,324.5bn
11
$2.3bn
3
$11.6bn
433
$803.7bn
124
$346.9bnGlobally
diversified9
$26.7bn
66
$146.3bn
NORTH AMERICA EUROPE ASIA-PACIFIC
54% 70% 50%
GRESB listed market coverage (% of market cap)
100%
GRESB Public Disclosure
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GRESB Public Disclosure
ABCDE0
50
100
150
200
Transparency is key
Non-GRESB participants
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Transparency is key
0
100
80
60
40
20
2010 2017201620152014201320122011
52100
First-year
8-year
75100
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Investors
94%
35%
100%
Use GRESB data in their
investment process
Set specific targets in terms of
GRESB performance
Consider their managers to be
moderately to fully prepared to
meet ESG requirements
2012
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2017
Investors have driven ESG-related disclosures in the real estate
sector, with the aim to protect and enhance shareholder value
We can more precisely measure and evaluate ESG performance due
to increased coverage, better metrics, and higher quality data
The sector’s increased transparency and improved performance
supports our mission to evaluate and empower sustainability practices
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2022
?
Sustainable Real
Assets
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2017 GRESB Sector Leaders - Europe
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2017
GRESB
RESULTS
E U R O P E
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2017
GRESB
RESULTS
E U R O P E
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2017
GRESB
RESULTS
P a n e lLara MullerCEO, Blue Building Institute
Pieter RoozenboomCOO Europe, CBRE Global Investors
Mathieu Elshout MRESenior Director, Private Real Estate Europe, PGGM
Erik SteinmaierSector Directeur Real Estate, ABN AMRO Commercial Banking
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2017
GRESB
RESULTS
P a n e lLara MullerCEO, Blue Building Institute
Pieter RoozenboomCOO Europe, CBRE Global Investors
Mathieu Elshout MRESenior Director, Private Real Estate Europe, PGGM
Erik SteinmaierSector directeur Real Estate, ABN AMRO Commercial Banking
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2017
GRESB
RESULTS
E U R O P E