Climate Change Data

Phoenix Spree Deutschland Ltd (PSD)

Climate Impact & Sustainability Data (2021, 2022, 2023)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:3278 tCO2e/year
Scope 1 Emissions:483 tCO2e/year
Scope 2 Emissions:901 tCO2e/year (market-based)
Scope 3 Emissions:1894 tCO2e/year
Renewable Energy Share:100% (Electricity)
Total Energy Consumption:112879 MWh/year
Water Consumption:166533 m3/year
Waste Generated:13338 tons/year
Carbon Intensity:0.033 tCO2e/m²/year (Scope 1+2+3)

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Increased portfolio coverage for sustainability data collection from 25% in 2020 to 86% in 2021.
  • Invested over €520,000 in upgrading gas heating systems in 2021, covering 13% or 340 residential apartments.
  • Received a ‘Silver’ and ‘Most Improved’ award at the EPRA Sustainability Awards 2021.

Social Achievements

  • Supported a women’s refuge (Interkulturelle Initiative e.V) and The Laughing Hearts charity in 2021.
  • Implemented a Vulnerable Tenant Policy and process to provide support to tenants facing difficult situations.

Governance Achievements

  • Adopted a Diversity Policy aiming for balanced Board composition based on merit.
  • Implemented a process for managing conflicts of interest and maintaining a gifts and hospitality register.
  • Conducted an external Board evaluation in 2021, concluding strong Board performance.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Continue to increase portfolio coverage for sustainability data collection.

Environmental Challenges

  • Data collection challenges due to the timing of gas billing and internal audit checks.
  • Limited access to detailed utility consumption data for the entire portfolio.
  • Exclusion of tenant-obtained utility data and certain types of recycled waste from reporting.
Mitigation Strategies
  • Reviewing options for improving data collection, including piloting smart meters and enhanced meter readings by the property management company.
  • Formal process introduced with the property management company taking utility meter readings at year-end.
  • Continued work with utility suppliers to access detailed consumption data.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Environment Policy sets guidance for PSD, QSix, and other key suppliers to reduce environmental impact.

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: EPRA Sustainability Best Practice Recommendations (sBPR)

Certifications: Mandatory energy certificates (EnEV)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • EPRA Sustainability Awards 2021: ‘Silver’ and ‘Most Improved’ award

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:4518 tCO2e/year
Scope 1 Emissions:2213 tCO2e/year
Scope 2 Emissions:1324 tCO2e/year (market-based), 1946 tCO2e/year (location-based)
Scope 3 Emissions:668 tCO2e/year
Renewable Energy Share:100% (Electricity)
Total Energy Consumption:18100 MWh/year
Water Consumption:201144 m3/year
Waste Generated:1908 tons/year

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Invested around €500,000 in upgrades and replacements of both individual gas boilers and central heating systems, covering 210 or 8.3% of the total residential apartments.
  • Achieved a 6% decrease in fuel and district heating use in 2022.
  • 100% of electricity sourced was certified as 100% from renewables.

Social Achievements

  • Supported a women’s refuge (Interkulturelle Initiative e.V) providing emergency shelter and advice.
  • Supported The Laughing Hearts charity, providing cultural, sport and art activities for children in children’s homes.
  • Made available a number of apartments on a rent-free basis for Ukrainian refugees.

Governance Achievements

  • Maintained a 60% male/40% female Board split.
  • Implemented a process of formal evaluation for individual Directors, the Committees and the processes utilised by the board itself.
  • Adopted a Diversity Policy which sets out the Board’s approach to diversity in Board composition.

Environmental Challenges

  • Invoice delays for gas and district heating billing.
  • Some invoices requiring additional internal audit checks.
  • Lack of detailed actual consumption billing data for the entire portfolio.
  • Difficulty assessing whether heating system upgrades resulted in tangible savings due to energy price increases and tenants applying energy-saving measures.
Mitigation Strategies
  • Introduced a formal process whereby the property management company takes utility meter readings at the year-end.
  • Piloting carbon mapping on a limited number of buildings, in combination with meter readings by the property management company.
  • Working with utility suppliers to access detailed consumption data in a timely manner.
  • Providing tenants with tips to encourage consumption reduction.

Supply Chain Management

Responsible Procurement
  • Environment Policy sets guidance for PSD, QSix, and other key suppliers.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: EPRA Sustainability Best Practice Recommendations

Certifications: Mandatory energy certificates based on heating and hot water use

Awards & Recognition

  • EPRA Sustainability Awards (Silver, Most Improved in 2021, Gold in 2022)
  • Best ESG Fund: Real Estate category of the Private Equity Wire ESG AAA European Awards 2022

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:4,632 tCO2e (Scope 1+2+3)
Scope 1 Emissions:2,096 tCO2e
Scope 2 Emissions:2,033 tCO2e (location-based)
Scope 3 Emissions:502 tCO2e
Renewable Energy Share:100% (electricity)
Total Energy Consumption:18,601 MWh
Water Consumption:200,045 m3
Waste Generated:2,015 tons

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Reduced fuel use by 5.7% and district heating use by 4.4% (like-for-like comparison)
  • 100% of electricity from renewable sources

Social Achievements

  • Continued support for women's refuge (Interkulturelle Initiative e.V.) and The Laughing Hearts charity
  • Implemented a Vulnerable Tenant Policy

Governance Achievements

  • Board composition of 60% male/40% female
  • Implemented processes for managing conflicts of interest and maintaining gifts and hospitality register

Environmental Challenges

  • Invoice delays for gas and district heating, resulting in data unavailability
  • Limited data on tenant electricity and heating consumption due to direct contracts with suppliers
  • Data limitations on waste recycling due to tenant responsibility for certain waste streams
Mitigation Strategies
  • Formal process introduced for property management company to take utility meter readings at year-end
  • Using previous year's consumption as estimate where meter readings and invoices are unavailable
  • Commissioning tailored reports from third-party experts to understand and anticipate ESG regulatory developments

Supply Chain Management

Responsible Procurement
  • Environmental Policy guides PSD and key suppliers on how to operate and reduce environmental impact

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: EPRA Sustainability Best Practice Recommendations

Certifications: Mandatory energy certificates (EnEV)

Awards & Recognition

  • EPRA Sustainability Awards: Silver and Most Improved (2021), Gold (2022, 2023)