CapMan Group
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:244,114 tCO2e/year (CapMan Group)
Scope 1 Emissions:0 tCO2e/year
Scope 2 Emissions:65 tCO2e/year
Scope 3 Emissions:239,662 tCO2e/year
ESG Focus Areas
- Climate action based in science
- Nature-positive operations that safeguard the planetary boundaries
- Strong and equitable businesses with meaningful work
- Human rights throughout our value chain
- Accountability, transparency and executive level diversity
Environmental Achievements
- Committed to the Science Based Targets initiative (SBTi) and set an ambitious target to achieve net zero by 2040.
- Set mid-term targets for 2032 to halve emissions from own operations and reduce emissions from commercial real estate portfolio by up to 72% per square meter and residential real estate portfolio by 50% per square meter compared to 2021.
- 19% decrease in emission intensity in commercial buildings from a 2021 baseline
- 14% decrease in energy intensity from a 2021 baseline
- 233% increase in area (sqm) with green building certification from a 2021 baseline
Social Achievements
- Measured inclusivity for the first time as part of the annual employee satisfaction survey.
- Conducted an assessment of salient human rights risks and impacts, identifying recommendations for strengthening human rights governance.
- Formally integrated the protection of human rights into external and internal policies.
Governance Achievements
- Integrated sustainability factors into remuneration.
- Developing sustainability reporting to enhance transparency and prepare for CSRD.
- Promoting diversity among decision-makers, targeting a maximum of 70% representation of any gender in new appointments to portfolio company boards and management teams.
Climate Goals & Targets
Long-term Goals:
- Net-zero emissions by 2040 (CapMan Group)
Medium-term Goals:
- Reduce emissions from own operations by 50% by 2032.
- Reduce emissions from commercial real estate portfolio by up to 72% per square meter by 2032.
- Reduce emissions from residential real estate portfolio by 50% per square meter by 2032.
- All eligible infrastructure and private equity assets will have set and validated their own SBT emissions reduction targets by 2032.
Short-term Goals:
- Reduce Scope 1 and 2 GHG emissions by 51% by 2032 (CapMan Group)
Environmental Challenges
- Human activity has exceeded sustainable limits across at least six of the nine planetary boundaries.
- Need to better understand the risks of climate change on assets under different scenarios.
Mitigation Strategies
- Initiated the development of a proprietary nature-positive approach across all investment areas.
- Aligning approach with current and upcoming nature-related frameworks, including early adoption of TNFD.
- Conducting physical climate risk assessments and adaptation plans for real estate assets, with plans to extend to infrastructure in 2024.
Supply Chain Management
Responsible Procurement
- CapMan Supplier Code of Conduct
- CapMan Real Estate Sustainable Procurement Policy
Climate-Related Risks & Opportunities
Physical Risks
- Floods
- Wildfires
Transition Risks
- Policy changes
- Technology changes
- Market changes
- Changing consumer, employee, and stakeholder preferences
Reporting Standards
Frameworks Used: GRI, SBTi, TCFD, TNFD, GRESB, EU Taxonomy