Environmental performance of buildings
COIMA RES’ investment decisions prioritise properties that are able to immediately achieve high energy and environmental performance thanks to its design and implementation characteristics, or subsequently through targeted renovations, also proven by obtaining certifications based on internationally recognised standards, primarily the LEED certification. Since the due diligence phase, the sustainability characteristics, including any opportunities for enhancement, are evaluated through the application of the “Sustainability Acquisition Checklist” and the COIMA Charter (an ESG evaluation system of investments which evaluates the possible areas of improvement by defining a numerical rating of the starting condition “as-is” and the objective scenario “target”).
To date, about 66% of the property portfolio gross value consist of newly built or recently renovated buildings and certified according to the various levels provided for by the LEED protocol. This percentage includes the Corso Como Place project which, despite the complexity related to managing construction sites during the pandemic, was completed "on time" and "on budget" at the end of 2020. A further 24% of the portfolio value will be certified for redevelopment works to be carried out in the coming years.
The remaining 10% is made up of properties that do not have the characteristics to obtain this type of certification (bank branches).
The achievement of high energy and environmental performance allows the combination of economic objectives through the reduction of energy costs and other operating costs, and to extend the average life of the plants, reducing their wear and tear over time. During 2020, priority was given to building system commissioning and to raising the awareness of tenants on the operating parameters of the buildings in order to ensure the reduction of consumption according to the effective presence of people in the offices and the effective use of spaces.
20% of the portfolio’s carbon emissions are landlordrelated (Scope 1 and 2), while the remaining 80% are under the control of the tenants (Scope 3), and on this portion COIMA RES has limited direct ability to intervene. The implementation of a plan to reduce consumption and therefore greenhouse gas emissions must include a strong involvement of the tenants, an aspect on which COIMA RES has already started to focus on. In particular, the sharing of energy consumption data between tenants and COIMA RES is an essential first step to obtain an accurate overview of the energy consumption of the portfolio. COIMA RES has already achieved an excellent degree of collaboration with its tenants, represented by the limited portion of data estimation (equal to 11% data estimated by COIMA RES).
Energy consumption decreased significantly compared to 2019 data, with a portfolio effect of 21% having a 19% effect on CO2 emissions, almost exclusively due to reduced office presence between February and June 2020 when the COVID-19 healthcare emergency was more severe. The return of staff to the offices, even partial, brought the plants back to operation during the summer months until the second period of healthcare emergency that began in November 2020. During 2020, detailed analyses were carried out on the particularly energy-intensive properties.
During 2021, a portfolio decarbonisation plan will be conducted to evaluate the interventions to be carried out on buildings in the coming years.
Performance Social & Governance
COIMA RES directly oversees with its organisation the areas of the business model in which value creation is hinged: financial management, investment, investor relationships, planning and management control. During 2020, the team employed by the Company remained substantially unchanged and was able to count on six professionals, all directly employed by the Company and possess the adequate skills and professionalism to fulfill this objective.
The fundamental competences in the Asset & Investment Management and Property & Development Management fields are instead outsourced, but always within the COIMA platform, through long-term contracts with COIMA SGR and COIMA Srl, which are aimed at ensuring attractive economic conditions to COIMA RES, as well as a shared approach to sustainability and high standards in terms of innovation and quality of service.
COIMA RES manages relationships with people to avoid any kind of discrimination and to protect privacy, health and safety. During the pandemic, people continued to operate remotely, but always trying to preserve the cohesion of the team and the quality of internal collaboration.
In 2020, the training and informative sector activities contained in the Knowledge Sharing Program initiative continued, albeit with less intensity, due to the COVID-19 pandemic.
COIMA RES Headquarter Performance
1. The data refer to energy consumption do not include consumption related to the common areas of the property.
2. The water consumption has been estimated assuming an average consumption of 60 liters per day per person for 220 working days. The number of employees is equal to 6 in 2020 and it has been assumed an average physical occupancy of 30% of the offices considering the COVID-19 pandemic.
3. COIMA RES does not monitor the contribution of waste, the disposal of which is directly managed by the City of Milan. For the calculations average coefficients (kc and kd) have been used, such coefficients have been provided by the City of Milan, and the average percentage of waste collection segregation.