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Eco-construction, a priority for Covivio

Buildings are at the heart of many transitions: energy, carbon, ecological, digital, social, societal, etc. As an investor, developer and manager, Covivio is involved throughout the real estate life cycle to offer ever more virtuous and efficient buildings, capable of meeting the climate challenge.

Toward 100% certified buildings

Since 2015, Covivio has set itself ambitious targets for the certification (HQE, BREEAM, LEED) of its portfolio. Following its Purpose’s expression, the targets have been reinforced: 100% of Covivio’s portfolio will have to be certified by 2025.

On every site, Covivio is optimising energy performance and reducing CO2 emissions by using a strong investments and works policy and increasing the awareness of the various agents in the real estate value chain: development, management, and renovation.

With its eco-construction approach, Covivio is co-building a more resilient, more inclusive city by working to combat climate change and urban sprawl, favouring the circular economy, and placing people at the centre of every project.

 

Environmental certification rate of the Group's portfolios
(Share of buildings certified for their construction and/or operation,
in Group share value at end 2022)

100 %

France offices (vs 71,1% in 2016)

98 %

Italy offices (vs 54% in 2016)

87 %

Hotels in Europe (vs 27% in 2016)

100 %

German residential (thanks to HQE Exploitation on the whole portfolio)

46.1 %

Germany offices (new portfolio)

100 %

Tertiary development pipeline aiming for a level of certification above Excellent / Gold

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Ambitious strategy to fight climate change

Carbon trajectory: Covivio commits to -40% reduction

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In 2017-2018, Covivio verified that its 2030 European carbon trajectory was compatible with that of the Paris Agreement of December 2015. Created with the French Scientific and Technical Centre for the Construction Industry (CSTB), and based on a firm scientific footing, this trajectory involves Covivio’s different products in Europe (offices, hotels, residential) and was approved by the SBT (Science-Based Targets) initiative in 2018. In 2021, Covivio has decided to raise its carbon ambitions to align itself with a 1.5°C trajectory and aim for a “Net Zero Carbon” (Scopes 1 and 2) and Well-below 2°C (Scope 3 including construction / renovation).

Group carbon trajectory (Scopes 1, 2, 3)
in carbon intensity (kgCO2/m²/year)

The Science Based Target initiative validates Covivio's greenhouse gas reduction targets, in line with a 1.5°C scenario

Covivio is thus committed to reducing its greenhouse gas emissions by 63% in absolute value by 2030 compared to 2015 on its direct activities (Scopes 1 and 2), in line with a 1.5°C trajectory. The Group is also committed to reducing its indirect emissions related to the consumption of all the buildings in its portfolio held in Europe as well as the construction and renovation of assets (Scope 3) by 37.5%, compatible with a Well-below 2°C trajectory (between 1.5 and 2°C).

These objectives thus lead to a targeted reduction of -40% between 2010 and 2030 in intensity per square meter held by Covivio in Europe.

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Assessing the portfolio’s resilience

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Aware of the climate imperative and thanks to its experience in this area, Covivio is permanently challenging its objectives and continuing to experiment to remain a pioneer in low-carbon construction. In 2020, the group also continued its alignment with the recommendations of the TCFD (Task Force on Climate-Related Financial Disclosures) and mandated several organizations to carry out resilience studies in order to determine the potential impacts of climate change on its assets.

BIM as a performance lever

Covivio is also a pioneer in Building Information Modelling (BIM). In addition to the improvement in the operational management of properties, this tool promotes the circular economy by organizing the traceability of materials so they may be reused. 100% of its new construction operations in progress are designed under BIM.

Which levers to achieve our objectives

#1 Focus on renovation and fight against urban sprawl

  • More than 50% of our new operations are regeneration projects
  • Willingness to move towards net zero artificialization to preserve areas of biodiversity
  • Circular economy, sustainable materials and installation of high-performance equipment

#2 Commit to low-carbon construction on a European scale

  • Drafting of LCA Europe specifications (Life Cycle Analysis) to standardize calculation methods
  • BBCA label or equivalent on at least 75% of new developments in France and 50% in Germany and Italy
  • Reliable measurement of the carbon footprint of operations

#3 Acquire new tools

  • 2 tools developed in 2020 with CSTB to accompany the implementation of the carbon trajectory:
  • Construction/renovation part: to estimate the sensitivities to the impacts of the choice of materials and construction techniques on the carbon footprint of an operation.
  • Operation part: to calculate financial and carbon impact of the energy efficiency actions carried out on the portfolio

#4 Promote the use of renewable energies

  • Installation of equipment on development projects
  • By 2030, 100% renewable electricity supply for our directly managed assets (61% at the end of 2020)
  • Make our tenants aware of this possibility for private areas

#5 Mobilize all our stakeholders to make the climate transition a success

  • Responsible Purchase policy rolled out from 2011
  • Strong partnership strategy with tenants (sustainable development committees, green annexes, etc.)
  • Governance bodies involved: creation of a CSR Committee in 2021

#6 Activating the right CSR financial levers

  • European green taxonomy
  • Green bond and green debt
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Stream Building - Paris 17th

At the heart of the future centralities of Greater Paris, Stream Building will offer 16,200 m² of mixed-use spaces combining innovation and environmental excellence. Benefiting from high levels of certification (HQE Exceptional, BREEAM Excellent and BBCA, E+C-, effinergie+ labels), the project has an architecture mixing concrete and wood with large green spaces and photovoltaic panels.

STREAM

Focus on wood construction:

  • 2,000 m3 of wood used allowing the storage of 1,400 teqCO2
  • Reduced energy cost over its entire lifespan compared to other construction materials
  • Participation in local  conomic development: 120% increase of the working hours
  • Easier and lighter assembly thanks to prefabrication in the workshop: one stage assembled in 10 working days