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SUSTAINABILITY IN OUR OPERATIONS
For Corio, sustainability is about finding an optimal mix in the integration of social, environmental, aesthetic and economic considerations in our centres. We measure sustainability in our operations through the intensity of electricity consumption and co2 production and the main way for us to make progress on these measures is through stakeholder engagement.
Value drivers for this key topic: ‘Maximizing the value of our centres by minimizing their
environmental footprint’ and ‘Building strong relationships with tenants and suppliers’, measured by:
2012 PRODUCED THE FOLLOWING RESULTS
> 57% of new leases is a green lease, which is any kind of official agreement in which Corio and
the tenant have made arrangements on what they expect of each other in terms of CSR and how
to collaborate on this topic.
> 15% less electricity was consumed in 2009-2012, which contributed to a 39% decrease in
carbon footprint (tonnes CO2/m2).
In Madrid, thanks to the dedication of Corio employees at the Príncipe Pío shopping centre, this
attractive former train station development in the western part of Madrid obtained its ISO 14001
certificate in 2012, ahead of schedule, thus setting an example for the rest of Spain and Corio.
Performance against target
ENERGY AND CARBON FOOTPRINT
Over the past four years, our energy and climate strategy has focused on increasing the energy efficiency of our operations and reducing the carbon footprint resulting from our activities. During this time, we have reduced electricity consumption per m2 in centres under management control from 114,7 to 97,5 kWh/m2 and increased the purchase of sustainable energy from 8,7 kWh/m2 in 2009 to 27,7 kWh/m2 in 2012. Thanks to our efforts to increase energy efficiency and procure renewable energy on-site or through the grid, we have also reduced the carbon intensity of our operations. Since 2009, the carbon footprint per m2 at our centres decreased by 39%.
By increasing the water efficiency of our operations, we reduce our exposure to the risks associated with water scarcity and minimise our water footprint. Since 2010 we have increased the water use per m2 by 15%. We manage to continuously decrease the use of grey water and recycle drinking water increasingly. In 2013 we aim to get a better insight in our water use and management thereof.
Since 2009 we have decreased the waste generation per m2 with 46%, which can be mainly attributed to agreements with preferred suppliers and a higher recycling rate. It should be noted that we manage to influence our waste in the common areas of our centres by offering separate bins for the consumers to discard their waste in paper, glass and ‘other’. We create awareness on waste creation by campaigns. However, we cannot directly influence the behaviour of our tenants and suppliers as we only process the waste they provide us, which is constantly changing. We actively search collaboration on the issue through green leases with the aim of realising a combined approach towards waste management.
Corio makes progress on increasing sustainability in its operations through stakeholder engagement; the signing of green leases, green clauses and green Codes of Conduct. 5 out of 6 business Units have a standard green lease in place. Coro Deutschland was not in the lead with leasing and had no control over the incorporation of green leases on total new lease contracts. An international leasing team is drawing up a company standard and is expected to implement this in the course of 2013, expected to result in a 100% performance on this KPI in 2013.