Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate action
• Resource efficiency
• Social value

Environmental Achievements

• Achieved 5-star ratings from GRESB for both standing portfolio and development projects (top 20% globally)
• Commenced first net zero carbon office redevelopment at 25 North Wall Quay
• Pioneered sustainable glulam timber construction at Unit 4, Quantum Logistics Park (first in Ireland)
• Achieved a 42% reduction in Scope 1 and 2 emissions against science-based target
• Established an internal carbon levy to promote sustainable construction and operational practices
• Completed retrofit of Riverside Two to electrify the building

Social Achievements

• Shaping the future workforce through collaboration with basis.point and Business in the Community
• Significant upgrades and enhancements across buildings and services, including new health and wellbeing initiatives
• Commissioned ‘Making Impact’ to explore social value creation and measurement at Wilton Park
• Partnered with charities such as Dublin Simon Community and St. Andrew’s Resource Centre

Governance Achievements

• Achieved full marks for management in GRESB assessment, attesting to strong governance framework
• Appointed Shane Caldwell as Head of Sustainability and Marie Hunt as Head of Research

Climate Goals & Targets

Environmental Challenges

• Increased average energy use intensity in multi-let office assets due to increased post-pandemic occupancy
• Challenges in collecting water consumption data due to sporadic invoicing
• Increased absolute greenhouse gas emissions in 2022 compared to 2021 (attributed to several factors including increased embodied carbon from development projects and increased business travel)

Mitigation Strategies

• Optimising, retrofitting, and repositioning assets to reduce energy use intensity
• Installing smart metering devices to improve water consumption data collection
• Implementing strategies to reduce embodied carbon in developments and operations, including internal carbon levy and focus on resource efficiency

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Internal carbon levy to incentivize sustainable practices

Climate-Related Risks & Opportunities

Physical Risks

• Rising sea levels
• Extreme weather events
• High tides and flooding

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products and buildings

Reporting Standards

Frameworks Used: GRESB, INREV Sustainability Guidelines, TCFD

Certifications: LEED, BERs

Third-party Assurance: Mazars

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• 'Making it Work' flexible office platform
• Net zero carbon office and logistics developments
• Use of glulam timber construction

Awards & Recognition

• 5-star GRESB ratings

Environmental Metrics

ESG Focus Areas

• Climate change
• Resource efficiency
• Social value

Environmental Achievements

• Achieved a 43% reduction in 2023 carbon footprint compared to 2022.
• Achieved an 11% year-on-year reduction in scope 1 and 2 emissions.
• Completed and pre-let Unit 4, Quantum Logistics Park, pioneering sustainable glulam timber construction.
• Acquired 125 acres of land to plant over 116,000 native Irish trees, sequestering up to 12,500 tonnes of carbon.
• Achieved a 62% reduction in upfront embodied carbon compared to 2022.
• Generated 611,000 kWh of renewable electricity on-site.

Social Achievements

• Launched the first report in their ‘Making Impact’ research series, focusing on social impact.
• Engaged with basis.point, Business in the Community, and Dublin Simon Community for positive social change.
• Raised over €930,000 for the Dublin Simon Community since 2020.
• Welcomed their first student for a work placement through the ‘Time to Grow’ initiative.
• Completed a significant retrofit at Styne House, enhancing occupier productivity and enjoyment.
• Hosted 12 events for occupiers in various portfolio locations.

Governance Achievements

• Achieved a GRESB 5-star rating for the second year running for both standing portfolio and development projects.
• Updated their Responsible Investment Strategy, setting progressive targets for the next three years.
• Disclosed their classification as an Article 8 fund with environmental and social characteristics promoted through their Responsible Investment Strategy.

Climate Goals & Targets

Environmental Challenges

• Increased waste volumes due to increased workspace usage.
• Sporadic water invoicing making data collection challenging.
• Occupier data reporting inconsistencies.

Mitigation Strategies

• Waste contractor training workshops for cleaning staff.
• Pilot program at 2 Hume Street using color-coded bags for waste segregation.
• Introduction of Smartflow technology for real-time water monitoring.
• Sanitaryware adjustments to reduce water flow rates.
• Use of i-mop floor cleaner for water conservation.
• Inclusion of environmental performance clauses in lease agreements to promote data sharing.

Supply Chain Management

Responsible Procurement

• Use of materials with EPDs.
• Waste minimisation initiatives.
• Modern methods of construction.
• Partnership with Irish Supply Chain Sustainability School.

Climate-Related Risks & Opportunities

Physical Risks

• Increased frequency, duration, and intensity of rainfall events.

Transition Risks

• Regulatory changes, carbon taxes.

Opportunities

• Development of energy-efficient buildings.
• Creation of carbon offsets through afforestation.

Reporting Standards

Frameworks Used: GRESB, LEED, INREV Sustainability Guidelines, IFRS Sustainability Disclosure Standard, EU Taxonomy

Certifications: LEED

Third-party Assurance: Mazars

Sustainable Products & Innovation

• Net zero carbon buildings (office and logistics).

Awards & Recognition

• GRESB 5-star rating (two years running)