On the road to carbon neutrality: an update on Sponda’s 2020 climate achievements
In 2019, Sponda set out its aim to become carbon neutral by 2030, and despite the pandemic, we’re making strong progress. We exceeded our climate targets for 2020, and we’ve been recognised in the GRESB assessments for the eighth year running. Below, we set out the next steps we’re taking and the value they will provide to employees, partners and customers.
At Sponda we have systematically embedded sustainability into our business for more than a decade, and in 2019 – after commissioning a comprehensive materiality analysis covering all areas of our operations – we renewed our sustainability programme and set ambitious climate targets.
Our aim: to reduce consumption and increase our own renewable generation
Behind our carbon neutrality target is a precise plan built around three key measures: energy efficiency measures to reduce consumption at the assets, the company’s own renewable energy production (such as the new solar power plant on the roof of the Elo shopping centre), and the purchase of clean energy.
Pirkko Airaksinen, Sponda’s sustainability manager, explains more: “We aim to increase our use of green electricity to 100% by 2022. And through energy efficiency measures, renewable energy production, and developing low-carbon construction solutions for our developments, we also aim to reduce the energy consumption of properties by 20% by 2030 compared to 2016–2018 levels.”
2020: meeting our targets despite the pandemic
Implementation of our new targets began at the start of 2020. While we were initially concerned that the coronavirus pandemic would slow down progress, thankfully it proved unfounded.
“We exceeded almost all our targets in the first year,” says Airaksinen. “Emissions decreased more than 25% compared to 2016-2018. The goals of the energy efficiency agreement were exceeded five-fold, and our energy consumption was reduced by 10% from the baseline.”
An award for sustainable operations from GRESB
For the eighth year running, at the end of 2020 we were delighted to be awarded for our sustainability practices in the GRESB assessments.
In the Standing Investments assessment, Sponda was ranked the best in the Nordic countries within our reference group. We were also the second-best in Europe within our reference group in the Development assessment.
Our strong progress couldn’t be achieved without the engagement of our motivated staff and partners.
In addition, we received a five-star assessment, which recognises entities placed in the top 20% of the benchmark and were awarded a Green Star for our Corporate Responsibility work.
A precise plan implemented by our motivated staff and partners
Our strong progress couldn’t be achieved without the engagement of our motivated staff and partners.
As Airaksinen says, “The fact that Sponda is already among companies in Europe with the most sustainable operations for the eighth year is largely due to the awareness and professionalism of our staff and partners – the fact that they feel that working towards increasingly sustainable operations is meaningful.”
Through the work we’re doing, the hope is that Sponda can also put positive pressure on our other stakeholders and partners to develop more sustainable operations.
“Making operations increasingly sustainable is a matter of collaboration,” says Airaksinen. “As a large-scale actor, we can encourage our stakeholders to develop by requiring them to act in accordance with certain indicators. We also share our operating models and reward our partners for activities that have exceeded their goals.”
Protecting the climate creates new added value and benefits for customers
Although Sponda’s principal sustainability goal is to reduce carbon emissions and combat climate change, Airaksinen points out that the company’s progress is also bringing increasing business benefits to both Sponda and its customers.
As a large-scale actor we can put positive pressure on our other stakeholders and partners to develop more sustainable operations.
“Development measures aimed at long-term value growth, energy efficiency investments and renewable energy solutions help reduce costs and create positive externalities for us and tenants,” Airaksinen says. “In this way, we can also offer our customers lower rental costs, better working conditions, and an improved brand image.”
Find out more about our climate targets and achievements in our full 2020 Sustainability Review. >>