PingProperties reduces annual like-for-like CO2 emissions by 40% in 5 years

02-09-2024

Last year PingProperties drew up its ESG policy, linking it to specific targets. One of these targets is to provide an insight into CO₂ emissions in its portfolio.

PingProperties has therefore analysed the energy consumption (gas/electricity) of its office buildings during the period from 2019 to 2023. This analysis shows that over this period, like-for-like* CO₂ emissions have fallen by more than 797 tonnes (40%) each year.
Silvia Verschoor (COO at PingProperties): ‘This is truly a great result which we are very proud of. It underlines our success in fulfilling our brand promise: to give buildings a new, sustainable future. We buy value add assets, often with poor energy labels and therefore high CO₂ emission levels. Such a purchase initially worsens CO₂ emissions at portfolio level, but over time our sustainability efforts become clear and CO₂ emissions fall. The 40% reduction in annual CO₂ emissions is fantastic, of course, but ultimately what matters to us is what we can achieve with the individual assets.’

By analysing the energy consumption, PingProperties has clearly identified where improvements can still be made for each asset. Apart from any physical improvements in sustainability, it is clear that much can be gained from managing the building-related systems and software. A building may have an A+ energy label, but in practice might still be used as if it had a D label. This could be because the systems are not properly calibrated according to the tenant’s actual use, or because of years of breakdown maintenance by the tenant the systems no longer function according to the initial climate control technology concept. The building consumes unnecessary energy as a result.

Bram Harding (Head of (Re)Development at PingProperties): ‘A new insight gained from the Covid period is that in the winter buildings use far more energy when no-one is present in the building. We could see this clearly from the figures. So unfortunately working from home is counterproductive as extra energy is being consumed, both at home and in the office. One solution could be to reduce the heating and cooling in part of the office building on days when everyone in that part is working from home.’

PingProperties has the ambition to make every asset ready for a Paris Proof future. Not in 2050, but as early as 2040! PingProperties is therefore working on  having a (S)LTMP roadmap towards Paris Proof for each of its buildings in the near future. Emissions will still depend on how the tenant uses its building. Good cooperation between the tenant/occupant and the owner is therefore essential to achieve this ambition.

PingProperties has also started a number of pilots, using smart software (AI/machine learning) to optimize the energy consumption of buildings. The software anticipates weather forecasts, for example, preventing a building from overheating and having to be cooled when outdoor temperatures rise rapidly, and only switching the heating on during colder mornings. This is expected to lead to significant energy savings, which will also make a big difference in the tenant’s costs. In one pilot, since 1 April we have now achieved energy savings of 37% on a building with energy label A.

* Only those office buildings have been included that we already owned in 2019 (and still own): Like-for-Like. CO₂ emissions are only calculated on the energy consumption (gas/electricity) of those buildings. For emissions per kWh, the parameters of milieubarometer.nl are used, with the exception of green power: we have used a stricter requirement for this, namely zero (instead of negative CO₂ emissions). Total annual emissions were 2,013 tonnes of CO₂ in 2019 and 1,217 tonnes of CO₂ in 2023. Of the 797 tonnes of CO₂ savings each year, 695 tonnes of CO₂ are the result of improvements in physical sustainability, 90 tonnes by making the energy network more efficient and 12 tonnes by switching from grey to green energy. 14% of the portfolio still uses grey energy. Since 2019 PingProperties has saved a total of 1,427 tonnes of CO₂ (10% of total emissions), and with the good results achieved recently this will rapidly rise.