Getafe The Style Outlets. Credit: Neinver
Ticker

NEINVER reduced CO2 emissions by 15% last year and invested €2.2 million in environmental upgrades

In its Annual Report, the company publishes last year's results and the 2019 initiatives of its ESG (environmental, social and governance) strategy.

NEINVER, reduced CO2 emissions by 15% across its portfolio and in its offices in Europe in 2019, continuing the downward trend of recent years. This figure reflects a significant achievement as all of the electricity used by centres that the company manages, accounting for about 90% of its total energy consumption, now comes from renewable sources.

NEINVER’s 2019 Annual Report includes the main highlights of its solid ESG (environmental, social and governance) strategy, underscoring its commitment to maximising the value created for all its stakeholders. The report also presents the main economic indicators for last year.

Over the course of the year, NEINVER invested more than €2.2 million in initiatives to keep shrinking its environmental footprint. Besides reducing direct CO2 emissions, the company successfully decreased emissions from employee travel by 38% thanks to measures such as moving its headquarters from the suburbs to a central location in Madrid proper with better public transport links, and encouraging videoconferencing instead of in-person meetings.  

Similarly, water consumption across the portfolio was down by more than 20% thanks to continual improvements and the fostering of best practices among visitors, employees, suppliers and tenants.

The company’s environmental commitment was reflected in its renewal of BREEAM In-Use certificates, vouching for the sustainable construction and management of its entire portfolio in Europe, with increased scores across the board. It also obtained the BREEAM New Construction certificate for the design phase of the centre it is developing in the Netherlands, Amsterdam The Style Outlets, which will open towards the end of the year.

The company’s goals for 2020 include working to implement photovoltaic energy systems at some of the centres and carrying out mobility studies to assess transport alternatives other than private vehicles.

As for social responsibility, NEINVER continued to reaffirm its commitment to creating stable, high-quality jobs: it increased its in-house staff by 4% last year and held joint events with the brands at its centres to promote local employment in the communities where it operates. Additionally, in 2019, the company reached an accessibility milestone by having all its centres in Spain certified under the Accessibility Indicator System (AIS) standard, with plans to expand this certification to its centres in France and Italy in 2020.

The company’s firm commitment to responsible investment and management is also seen in its support for four more United Nations Sustainable Development Goals, besides those it already supported. In total, NEINVER has announced its commitment to eight of the goals, related to health and well-being, environmental sustainability, reduced inequality, economic growth and high-quality employment, and responsible consumption.

The report also spotlights other landmarks such as increasing the company’s GRESB score – the main ESG assessment index in the property industry – from 69 points in 2018 to 82 in 2019.

You can find the 2019 Annual Report at this link.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Maja Procz is Global Head of Transactions at Commerz Real

Maja Procz (45) has been the new Global Head of Transactions at Commerz Real since 1 August 2020.

Angel Central raises the iconic wings

CBRE Global Investors has announced the significant completion of a key milestone, the raising of the angel wing sculpture, as part of the centre’s £16m refurbishment plans at Angel.

Union Investment acquires retail park in Styria

The HATRIC Q2 retail park in Hartberg, Styria (Austria) has changed hands. Having previously acquired the adjacent phases HATRIC Q3 and Q4 from Rutter Immobilien Gruppe upon completion in 2017, Union Investment has now also secured the Q2 building with its approximately 6,800 sq m of rental space, which opened in 2005.

pbb extends a €89.7 million credit facility to a real estate fund managed by Nuveen Real Estate

pbb Deutsche Pfandbriefbank has extended an investment loan facility in the amount of €89.7 million to the European Outlet Mall Fund, a real estate fund managed by Nuveen Real Estate, one of the largest investment managers globally, for the financing of phases 1,2 and 5 of “Designer Outlet Parndorf” centre near Vienna. pbb acted as arranger, lender, agent, and security agent under the facility.

VIA Outlets 11-centre portfolio achieves ‘Safer Shopping’ certification status

VIA Outlets – Europe's fastest growing owner-operator of premium fashion outlet destinations – has partnered with leading testing and certification expert Bureau Veritas in the light of Covid-19 to create a ‘Safer Shopping’ certificate, which has now been granted to every centre in VIA Outlets’ 11-strong portfolio.

Primark launches new UK in-store recycling scheme

Primark announces the rollout this week of its nation-wide recycling programme, inviting customers to donate their pre-loved clothes, textiles, footwear and bags from any brand to be ‘re-loved’ via the Primark In-Store Recycling Scheme.