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Environment - DNB Scandinavian Property Fund

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Management of real estate portfolios

In the day-to-day management of real estate portfolios, DNB REIM has a strong focus on ensuring that returns are in accordance with defined goals. DNB REIM provides fully integrated management services, including capital raising, buying and selling properties, technical and commercial management of each property, risk management, investor follow-up and reporting. DNB REIM is ISO14001 certified. The methodology is used to achieve overview, provide risks and opportunities, and further develop the environmental work (continuous improvement).

DNB REIM reports quarterly to investors, offers annual investor forums and follow-up meetings with each investor. In addition, an annual environmental report is prepared with a focus on the fund portfolio's environmental goals and results. On an annual basis an investor survey is conducted that measures investors' satisfaction with the fund and our services as a manager.

Investments and projects

Investment process – purchase of property

Environmental items are important aspects when investing in commercial real estate. According to the Investment Plan for DNB SPF, energy and environment as such will be given emphasis and the fund will seek to purchase buildings of high energy class according to the Norwegian standard, Energy Performance Certificate, EPC). If the buildings are of a lower energy class the cost of bringing the building up to a higher class will be demonstrated and taken into account in the investment decision.

New investments are carried out in line with the current strategies and plans for DNB SPF. Environmental aspects are assessed together with other criteria at an overall level early in the sourcing process. In documentation before the investment decision, this is emphasized and in the DD process before purchase a separate technical DD will be carried out according to the Investment Policy for DNB SPF. See also the attachment where this is included in the description of the investment process.

Project investments (Existing properties)

As DNB Scandinavian Fund is a core fund, development projects will be held at a low level (max aprox. 5 per cent of the marked value. Environmental programs will be developed for all projects carried out by DNB REIM in Norway, with the exception of projects that have minor environmental impact. In the environmental program, the project targets are set within the current project are defined. 

In larger projects, the objective is to achieve energy mark B according to the EPC (Energy Performance Certificate). An energy budget is being developed for real energy use.

Goals and results

DNB SPF has clear climate and environmental goals as well as results related to this. Goals for the period 2021-2023:
  • Energy reduction: -7%
  • Sorting rate: 65% 
  • CO2e reduction: -7% 
  • Reduction in water consumption: -4% 
  • BREEAM In Use: certify all the buildings in the portfolio, a total of 13 
  • Energy label C or better> = 30% 
  • Reduce power: -15%

An environmental report is prepared annually for the fund. The results for 2021 are summarized in the figure below.

Sustainability library

 
Key figures Energy and environment