Benchmarking based on the Global Real Estate Sustainability Benchmark (GRESB) enables the Retail Fund to obtain more insight into the opportunities to improve the sustainability performance measured at fund level. In 2014, the Fund participated for the third time in the GRESB and improved its scores significantly, increasing its overall score by over 67% and taking it to second in its peer group.
Following the successful implementation of the action plan to enhance overall GRESB performance, the Retail Fund improved its scores dramatically last year. Bouwinvest and the Fund emerged with a ‘Green Star’ classification, the highest category in the GRESB scoring system, no less than two years ahead of schedule.
Smart meters, smart business
To monitor energy consumption closely, the Fund measures energy use at almost 40% of its properties by using smart meters, and issues quarterly reports. In 2014, the Fund expanded active monitoring by installing a total of 65 smart meters. It also started a pilot of web-based energy monitoring and management for two assets. In addition, the Fund plans to install smart meters at all new developments, acquisitions and at individual tenant level. Once again, this will require close cooperation with tenants, as they have to agree to install the smart meters. However, given the current climate in the retail sector, most retailers are more than willing to work with us to cut their energy bills, and increase profit margins.