With attention to social developments, Cofinimmo has the mission of making high-quality care, living and working environments available to its partners-tenants, from which users benefit directly. More specifically, Cofinimmo's mission is to:
- promote exchanges creating well-being and inspiration in high-quality care, living and working spaces, by providing services that anticipate the needs and aspirations of their occupants;
- animate an inspiring work and living environment, serving an exciting business project;
- enable its shareholders to make long-term, low-risk and socially responsible investments that generate a recurring, predictable and growing stream of income, fuelling dividends and encouraging a return to the community.
Beyond the stakeholders identified above, the community itself greatly benefits from Cofinimmo's services on a multitude of levels whether in healthcare, the working world or simply in places where people exchange and share. Furthermore, Cofinimmo participates in the enhancement and renovation of public and parapublic property thanks to large-scale projects undertaken in the framework of public-private partnerships.
Cofinimmo's ESG strategy is derived from its mission statement. Being a major real estate player in Europe, Cofinimmo has been committed for more than ten years to a global ESG strategy.
The 30³ project
In response to the risks involved by climate change, Cofinimmo decided to scale its environmental ambitions up. The 2019 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.
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 we conducted, and is in line with the Paris Agreement concluded at COP21.
This business project will involve not only the office and healthcare real estate segments, but also all activities directly managed within the company such as sales and acquisitions, development, works management and day-to-day property management. Taking into account the entire life cycle of buildings, only a 360-degree approach will enable the Group to achieve the objective set.
A sustainable finance framework
Cofinimmo pays particular attention to the alignment between its financial strategy and its ESG objectives. The company reviewed its sustainable financing framework in May 2020 to incorporate recent trends into the financing of sustainable assets which form part of its ESG strategy. In its second party opinion, Vigeo Eiris confirmed that this framework is aligned with the 2018 green bond principles, social bond principles and green loan principles. In accordance with this framework, Cofinimmo can issue a variety of sustainable financing instruments, including bonds, convertible bonds, private placements, and (syndicated) bank loan facilities.
Following the renewal of the Non-Financial Reporting Directive (EU Directive 2014/95), Cofinimmo has until 01.01.2024 to report on its activities using the European taxonomy. Nevertheless, Cofinimmo is getting ready for transparent communication as from 2023 (eligibility report for the 2022 financial year).
17 UN goals to transform our world
Cofinimmo includes its activities in a wider framework and has aligned its strategy with the United Nations' Sustainable Development Goals (SDG) in advance of 2030.