Buildings are one of the major climate offenders, accounting for a large proportion of global carbon emissions. In January 2021, Danica Ejendomme, an investor in properties on behalf of Danica Pension, therefore set specific targets for how much carbon emissions from Danish properties should be reduced over the coming years relative to the 2019 level. One year later, the carbon emissions reduction targets for 2023 and 2025 of 30 percent and 37 percent, respectively, have already been achieved as present-day carbon emissions are down by 40 percent.
"As one of the biggest players in the Danish real estate market, we share in the responsibility for reversing the trend and making properties a key contributor to the green transition."Managing Director of Danica Ejendomme, Michael Nielsen.
“As one of the biggest players in the Danish real estate market, we share in the responsibility for reversing the trend and making properties a key contributor to the green transition . I am therefore proud that we have managed to take giant steps forward in a short span of time and have already met our 2025 target. This is not a sign that we were unambitious – quite the contrary. We now have a better grip on our properties and have implemented various climate initiatives that have borne fruit faster than expected. Not least, we have also benefited from the fact that Denmark’s energy supply has switched to greener energy,” says Michael Nielsen, Managing Director of Danica Ejendomme, adding:
“We are convinced that our climate focus is the right way to go for society and, above all, for our pension customers. We believe that climate initiatives will also provide higher returns to pension customers as we are seeing a growing demand for sustainable properties.”
Green energy supply and new climate initiatives
More precisely, carbon emissions from Danish properties have been cut by 2,891 tonnes from 7,234 tonnes in 2019 to 4,343 tonnes in 2021. This has been accomplished mainly because the central energy system is increasingly based on renewable energy sources. On top of this, Danica Ejendomme has launched a range of initiatives, such as buying more green power, better monitoring of energy consumption and converting from natural gas to district heating. During 2022, Danica Ejendomme will review its existing targets, but will, for now, maintain the carbon emissions reduction target of 69 percent by 2030.
“We are extremely satisfied to have come this far in such a short span of time. Carbon emissions from properties are one of the major climate offenders, and that is why it also plays a key role in Danica Pension’s goal of contributing to the green transition,” says Michael Nielsen.
Facts about Danica Ejendomme:
- Is part of Danica Pension and invests in properties on behalf of Danica Pension’s 800,000 pension customers
- Is one of Denmark’s largest property investors with an aggregate portfolio of DKK 37 billion. In Denmark, Danica Ejendomme owns 116 properties
- Commercial properties account for 31 percent of the portfolio. Shopping centres account for 22 percent
- Residential properties and project sales account for 21 percent each
Facts: Highlights of Danica Ejendomme’s sustainability strategy
- Specific targets for how much carbon emissions from the property portfolio should be reduced over the coming years. The reduction targets are 30% by 2023, 37% by 2025 and 69% by 2030. All targets are relative to the 2019 level.
- In 2023, all primary building materials purchased by Danica Ejendomme must be labelled with an environmental product declaration (EPD).
- All new builds initiated in 2021 and later are generally required to be awarded DGNB gold certification. All properties undergoing large-scale renovation work initiated in 2021 and later are required, on completion, to qualify for the DGNB silver certification or higher.
- Danica Ejendomme aims to promote the circularity of building materials and to use recycled materials.