Objective
Our pension fund aims to minimize the CO2 emissions of its direct real estate investments (reducing them to net zero where technologically possible) by 2050 while factoring in economic objectives. This objective is in line with our pension fund's strategic goal of establishing the Paris climate targets as guidelines in the investment of its assets. In addition to achieving this targeted reduction, the real estate team also monitors the climate risks (flooding, landslides, earthquakes, etc.) and incorporates these into its long-term renovation strategy.
Implementation
In order to achieve this reduction, our pension fund is systematically increasing the proportion of renewable energy sources in the portfolio and integrating this objective into its long-term renovation planning. Our pension fund has been performing long-term renovation planning for many years now; all measures are implemented taking account of the specific location and building characteristics of the respective property.
Incorporating our climate goals into the renovation planning means that, in the event of gut renovations, we look at the replacement of fossil fuel heating sources and choose the most sustainable solution for each building. This enables us to ensure that measures are considered holistically and implemented at the best possible time. To keep the carbon footprint of our properties low throughout their life cycle, it is essential for any work done to the building's structure to be targeted and long lasting so that the biggest cause of CO2 emissions – in the form of gray energy – can be optimized.
Renewable heating energy
(measured against the energy reference area in m2)
"Thanks to our structural and long-term renovation planning, we can increase the share of renewable heating sources by more than 10% over the next two years, while preserving the economic interests of our insured."
– ESG Committee
Measurement
In order to measure the progress of target achievement, our pension fund participates in the annual PACTA study of the Federal Office for the environment and also measures the energy efficiency class of its real estate portfolio on an annual basis. In particular, the PACTA study provides us with valuable insights into whether our already implemented and planned measures are effective and whether the CO2 emissions in our portfolio have been reduced.
Other topics
