Purpose of the project
The purpose of the project is to reduce substantially alstria’s carbon footprint in a short period of time, without incurring any capital expenditures. In 2013, alstria changed its energy procurement policy and is switching gradually its entire contract into renewable energy. This includes the landlord obtained parts of the buildings in alstria’s portfolio. The target is to procure 100% of electricity for the common areas of its buildings from renewable energy sources by 2016.
Alstria’s commitment to procure 100% of electricity from renewable sources is driven by a desire to take a leadership position on mitigating climate change and reducing the company’s carbon footprint. Towards this goal, alstria has designed a climate change strategy that aligns all its existing activities with its vision for a low carbon future. By adopting such a strategy, alstria is actively changing the way it conducts business thus influences its peers to performing alike. Only with an overall sustainability approach to real estate, can the business build and create value over time.
Alstria has identified its carbon emissions as one of its main environmental impact, and has pursued an easily readily available option that allows it to reduce it footprint substantially in a short period of time, at a minimum cost. alstria has changed its procurement policy with respect to electricity for its own use, or when it acquires it on behalf of its tenants in order to procure non carbon, non-nuclear generated electricity. While it is understood that the electricity actually used in the assets might still be generated by fossils fuels, alstria’s intention is to increase demand in the market place for non-carbon electricity and therefore incentivize investment in that field. Alstria encourages its tenants to procure carbon neutral electricity by serving as a powerful example of managing its own offices in the most energy efficient way.
The target of procuring 100% electricity from renewable energy sources has increased substantially in the last two years and is due to be accomplished by 2016.
In detail, alstria managed to procure carbon neutral electricity supply for 21% of its total landlord obtained areas with a reduction of 23% of its scope 2 greenhouse gas emissions in 2013. By 2014, already 75% of alstria’s total landlord obtained areas were supplied by carbon free electricity. Accordingly alstria’s scope 2 greenhouse gas emissions could be reduced by 85% in 2014. Alstria expects a further decrease for the year 2015.
As a result of this policy alstria’s scope 1 and 2 greenhouse gas emissions have gone down dramatically, which earned alstria its first CDP Climate Action Award in 2014. To emphasise its commitment to go 100% renewable alstria joined the RE100 campaign in 2015.
In the last two years a substantial number of alstria’s tenants have also turned their own energy procurement into green electricity. This trend shows that the measures that alstria undertakes to communicate and raise the awareness of its tenants have been already showing good results.
“They are easy, readily available ways to reduce the real estate carbon footprint. These do not require capital expenditure, nor time to be implemented. They only require the will to do it. Procuring non fossil fuel electricity is an easy win, which have the benefit of immediate carbon footprint reduction, while increasing demand for clean energy therefore stimulating investment in the production and grid management of 'Green Electricity.'"
- Olivier Elamine, CEO of alstria office REIT-AG