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Our strategy
As regulations relating to buildings' energy consumption and associated Greenhouse Gas (GHG) emissions become more stringent, it is likely that high energy consuming and carbon emitting buildings will be less desirable to investors and occupiers. By reducing the energy consumption and GHG emissions associated with our shopping centres we aim to achieve cost savings and make our properties more attractive to investors and occupiers, now and in the future.
Over the past nine years, our energy and climate Strategy has focused on increasing the energy efficiency of our operations and reducing the GHG emissions resulting from our direct and indirect activities. During this time, we have reduced electricity consumption per m2 (mall and toilet area) in our owned shopping centres from 737 to 514 kWh per year, enabling us to avoid costs of approximately €9 million and save 105 million kWh of electricity in 2010. Thanks to our efforts to increase energy efficiency and procure renewable energy on-site or through the grid, we have also reduced the carbon intensity of our operations. Since 2005, GHG emissions per m2 of GLA at our shopping centres decreased by 60%, which confirms we are on track to meet our long-term objective. |
Long-Term Objectives
| Achieve a 70% reduction in GHG emissions per m2 of GLA, by 2020, compared to the 2005 level (GHG Protocol scopes 1 and 2, plus business air travel). |
| Strive to increase the energy efficiency of our operations, aiming to attain a maximum electricity consumption of 400 kWh/m2 (mall and toilet area) per year across Sonae Sierra owned shopping centres, by 2020. |
| Develop and implement a long-term Climate Change Adaptation strategy covering investment, development, management and corporate activities, by 2020. |
Targets for 2011
| Maintain the 2010 level of GHG emissions by m2 of GLA (GHG Protocol scopes 1 and 2, plus business air travel). |
| Maintain 2010 level of electricity consumption per m2 (mall and toilet area) across Sonae Sierra owned shopping centres. |
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