Ratings ESG

 Environmental certifications

I.  Energy efficiency/environmental certifications

Colonial Group is firmly committed to obtaining sustainable certification for the assets in its portfolio.

Over the last few years, the Group has promoted the certification of the buildings in its portfolio and has managed to maintain a sustained increase in the ratings obtained. Currently, 99%(1) of the value of the Colonial Group’s operating office portfolio has LEED or BREEAM sustainable certification, a figure that has gone up and remained stable over the years, reaching almost the entire certified portfolio. In terms of rent and surface area, the ratio shows a clear majority of the portfolio.

This high level of certifications makes Colonial a leader in terms of energy efficiency.

Portfolio with LEED / BREEAM⁽¹⁾

⁽¹⁾ Office Portfolio in operation.

The Colonial Group is committed to the highest standards of certification:

• At the end of 2024, Colonial Group had 8,902 million euros of assets in value with the BREEAM certification. In this regard, the Group has introduced a guideline in the Paris portfolio to apply BREEAM-aligned design criteria in all refurbishments. 
  
  At the end of 2024, fourteen operating assets of SFL were BREEAM certified.
  
  Colonial has analysed the measures required for each certified building to improve the ratings obtained in future certification renewals.
  
  As part of the actions carried out in 2024, in line with the analysis for the improvement of the classification levels in the certificate renewals, as well as with its Environmental Policy and the Good Practices Manual, Colonial has taken measurements of the interior and exterior lighting in some of the buildings in its portfolio, in order to control that the lighting levels are adequate and improved with respect to the regulations. These controls are carried out on a regular basis and will be extended to the rest of the asset portfolio. After being analysed, reports are issued by technical specialists in which it is supervised that the improved values established for each room are achieved, also contributing to the well-being of the occupants and users of the buildings.
  
   
• The Colonial Group has 1,966 million euros of assets in value certified with LEED certification. By the end of 2024, six assets will have Platinum status and twelve will have Gold status.
  
• The building at Francisca Delgado, 11 (Oblicua) has been WELL CORE Gold certified since 2022, and is the first building in the portfolio to be certified with this seal.
   
• The Haute Qualité Environnementale is a certificate awarded to real estate properties in France. This certification assesses buildings according to their energy, environmental and health and user comfort performance.
  

Since 2017, the Group has increased the level of certifications in its portfolio with a 17% increase in the value of BREEAM-certified assets and a 132% increase in LEED-certified assets

Portfolio with LEED / BREEAM⁽¹⁾ – Value

⁽¹⁾ Percentage in terms of appraised value 12/24, offices in operation.

BREEAM Certificates – Value

LEED Certificates – Value

This level of certification is clearly above average in the sector. The progress made over the years shows the company’s clear commitment to improving the efficiency of its assets. The strategic sustainability plan is committed to continuous improvement asset by asset, implementing energy efficiency initiatives and biodiversity measures, including PropTech for digital transformation, water saving measures and greater control in waste management, among other actions. This in turn makes possible a qualitative improvement of the qualification in the certifications of each asset.

The high quality of the Colonial Group’s portfolio is reflected in this high level of asset certification. It should be noted that in 2019 BREEAM/GRESB recognised Colonial Group as the sole European leader in responsible investment through the Award for Responsible Real Estate Investment in the large portfolios category

Portfolio with LEED / BREEAM⁽¹⁾ – Value

⁽¹⁾ Office Portfolio in operation.

Certificate details according to property value

Following the EPRA Best Practices, the following table shows the percentage of total portfolio value and the level of certification achieved: 

II. Energy ratings (European Performance Certificate)

In France, all the Group’s buildings hold energy certificates and in Spain all buildings must have an energy rating in accordance with Royal Decree 390/2021. In this sense, all assets in operation on the Colonial Group’s office property portfolio hold energy efficiency certification.

The Colonial Group has implemented a system that allows it to manage the environmental aspects of its activity and the energy it consumes. It also guarantees continuous monitoring of the organisation’s energy uses and the direct and indirect factors that affect environmental management.

The system covers maintenance activities associated with proper technical operation of the building to ensure customer satisfaction and the comfort of the company’s employees at its corporate headquarters.

The benchmarks used for the implementation of the integrated environmental and energy management system are the international standards ISO 50001 and ISO 14001. These provide a suitable framework to develop its integrated environmental policy and organise both energy and environmental aspects (including analysis of the energy and environmental planning process, energy and environmental review, energy, environmental and legal aspects, objectives, targets and action plans, risks and opportunities).

The environmental management system is integrated into the Energy Management System in the Avenida Diagonal buildings, 532 in Barcelona as well as in the Paseo de la Castellana, 52 property in Madrid, and every three years renews its certification through the mandatory External Audit performed by a certification body of renowned prestige and accredited by the Entidad Nacional de Acreditación (ENAC).