Leading global property investment manager PRUPIM has announced significant cuts in the environmental impact of its property portfolio in 2008, including sharp reductions in CO2 emissions and water usage. According to PRUPIM's 2008 Sustainability Report, the company saved 56,000 tons in CO2 emissions - the equivalent of taking 18,000 cars off the road for one year.
PRUPIM also saved the equivalent of over 40 Olympic-size swimming pools worth of water across its entire portfolio and increased waste recycling by 6% at offices and 5% at shopping center sites.
"These issues were once seen as peripheral by fund managers but sustainable management is now vital in combating the financial effects of climate change on investment returns, as well as the physical and social impacts. These results suggest we are some way along the road but there is still a long way to go before we are satisfied," said PRUPIM's Sustainability and Environment Manager, Joel Quintal.
"By embedding sustainability into the investment and asset management processes we will be working towards protecting, preserving and future proofing long term property values and returns," he added.
Other highlights for 2008 include:
· 74% of energy consumed by PRUPIM was from Good Quality Combined Heat and Power sources*
· 40% of properties assessed for EPC ratings received 'C' or above and 20 percent achieved a 'B' rating
· 18 properties have successfully achieved the international standard for environmental management systems, ISO 14001, with a further six to be certified in 2009
Many of the savings were achieved through cost savings such as lighting changes, green refurbishments, reduced water use, improved waste management systems, recycling, heating and ventilation systems and general site improvements. These measures include:
· Using low energy light bulbs, daylight and movement sensors and timers
· Secondary window glazing
· Controlled ventilation, heating and cooling settings
· Using collected rainwater to flush toilets
· Introducing separate waste management to improve recycling
"There is no single magic bullet to managing property investments sustainably ultimately results rely on continuing to innovate across a range of areas," added Joel.
The 2008 Sustainability Report highlights progress made towards achieving targets set in 2006, and also outlines objectives, strategies and future targets for the coming year. It is available to download from the PRUPIM website: http://www.prupim.com/about/sustainability