KLÉPIERRE ENGAGES IN “BREEAM IN-USE” PORTFOLIO CERTIFICATION

As part of its Act for Good® CSR policy, Klépierre is committed to certifying 100% of its assets by 2022. This applies to the Klépierre portfolio of top-tier shopping centers worth €24.4 billion with over a hundred malls in 16 countries. With this ambition in view, Klépierre has teamed up with BRE Global, a global organization for certifying BREEAM reference systems, and Longevity Partners, the pan-European leader in sustainable value creation for real estate parties, for a period of five years.

BREEAM In-Use certification makes it possible for shopping centers to commit to reducing operating costs and optimizing environmental performance and occupants’ well-being. The first year of the partnership entails certifying all Klépierre Group assets, while the next four will be spent on improving performance achieved. The portfolio approach allows for renewing certification with sample-based controls thanks to the homogeneous CSR performance of the portfolio. All the assets will be considered as a single entity, which will ensure continuous certification and create synergies between assets yielding higher environmental, but also economic, results.

Klépierre, BRE and Longevity Partners will therefore work in tandem to sponsor the certification project for a five-year term using BREEAM In-Use, a standard applicable on a very broad scale and which is recognized all over the world. Klépierre selected Longevity Partners for its experience and ability to help implement optimization projects for shopping centers on a European scale. The cooperation between assessor, creditor and customer working together will ultimately ensure that the project is managed well.

“In proposing to our group to deploy its new portfolio approach for BREEAM certification, BRE recognizes the excellence of the Klépierre portfolio in sustainable operating management. We are convinced that this ambitious target to certify all our assets, as stated through our Act For Good® CSR policy, is a genuine performance and value creation driver for all our stakeholders. We are fully committed alongside our Longevity partner in all our countries to living up to this challenge,” stated Clémentine Pacitti, Sustainable Development Senior Manager at Klépierre Group.

“We are extremely pleased to see this long-term commitment from Klepierre that demonstrates their commitment to headline objectives in the Paris Accord. Klepierre are determined to lead by example in this space and are sending a siren call to other commercial real estate investors that the time is now to make that change. The weight of the business case is strong and we are proud to be part of Klépierre’s journey going forward from here,” added James Fisher, Head of Real Assets for BREEAM.

“As part of its environmental and social responsibility program, Klépierre reaffirms its position as a world leader in this project that will ensure sustainable management of its portfolio. It is a true honor for Longevity Partners to launch Klépierre in this latest adventure, to help them make savings through the new and innovative certification process which remains a bit of a mystery. The project demonstrates that leading real estate players are beginning to include sustainable development tangibly in the heart of their modus operandi to generate more value and reduce their impact, notably through the use of the BREEAM In-Use tool. We are delighted to offer Klépierre our unique expertise in managing large-scale projects in a multi-cultural context and hope that the European real estate community will follow on to catalyze the transition to a more responsible economy,” said Étienne Cadestin, founder, President and Chief Executive of Longevity Partners.