Governance & policies

Cofinimmo, being a major real estate player in Europe, has been committed for more than ten years to a global ESG strategy. Cofinimmo believes that it is possible to aim for a carbon neutral society by 2050 while guaranteeing the interests of all its stakeholders. Its project 30³ is part of this approach. The objective of this ambitious project is set out below. Cofinimmo’s sustainability strategy is obviously not limited to environmental aspects. At social level, Cofinimmo continues to invest massively in healthcare real estate. These investments provide a response to the challenges linked to the ageing population in Europe, taking into account the needs of the most vulnerable people.
The existence of an ambitious strategy in terms of sustainability is a necessity to ensure the longterm value of the company. Cofinimmo's various stakeholders have clearly understood this: the number of shareholders seeking socially responsible investments continues to grow; tenants demand energy-efficient and comfortable buildings; as for employees, they are constantly seeking meaning in their activities.

Cofinimmo confirms its commitment to the ten principles of the United Nations Global Compact. These are derived from the Universal Declaration of Human Rights, the International Labour Organisation Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention against Corruption. Through its values and way of functioning, Cofinimmo intends to fulfil its fundamental responsibilities in the fields of human rights, labour, the environment and the fight against corruption.

Cofinimmo’s main commitments are split below by individual ESG pillar.

Environmental principles:

• compliance with environmental regulations and other requirements;
• continual improvement of the environmental management system to enhance environmental performance;
• protection of the environment, including prevention of pollution and climate change mitigation and adaptation.

Social principles:

• respect for public spaces and diversity of districts;
• safety and well-being of employees, building occupants and suppliers;
• promotion of professional and personal development of every employee;
• respect for differences and cultural diversity.

Governance principles:

• transparency and ethical behaviour towards its stakeholders in conducting its activities;
• coherence between its financial strategy and its ESG objectives;
• integration of major societal trends into its strategy to avoid the accelerated obsolescence of buildings and to preserve economic sustainability.

Corporate Social Responsibility is embedded in the organisation, as evidenced by the application of ESG reporting guidelines (GRI, sBPR EPRA, Euronext ESG) and by assessments (GRESB, SustainAlytics, MSCI ESG, Vigeo Eiris, Standard Ethics, BREEAM).

In response to the risks involved by climate change, Cofinimmo decided to scale up its environmental ambitions. Strategic thinking led to a 30% reduction (compared to the 2017 level) of the portfolio’s energy intensity by 2030, to reach 130 kWh/m² (project 30³). This objective has been established following the science-based targets methodology, which enabled to objectivise the effort to be made in order to contribute to the global objective of limiting global warming to a maximum of 1.5°C. It follows on from the many ESG initiatives conducted by Cofinimmo, and is actively in line with the Paris Agreement concluded at COP21.

To achieve this objective, a 360-degree approach, which takes the entire life cycle of buildings into account, will be applied.
This corporate project concerns both the office and healthcare real estate segments, as well as all activities managed directly within the company such as sales and acquisitions, development, project management and day-to-day management of the buildings.