Cromwell started measuring its sustainability performance in 2006 and began reporting against the Global Reporting Initiative (GRI) guidelines in 2009, producing our first Annual Report in that year.
We believe that achieving our key business objective to provide investors in Cromwell Property Group with stable, increasing distributions per share, requires active measurement, management and disclosure of our exposure to all material economic, social, governance, environmental and other risks.
In the Nordics, Cromwell has implemented the “Green Building Certificate” at some assets in our portfolio. A good example where this has been put into practice was a 20,000 sq m, 15-storey office building located in Gothenburg, constructed in 1966. As part of the tenant negotiations for a 5-year lease extension, our local Swedish team committed to improving the energy efficiency of the building. This involved replacing most of the existing 2-glass windows with high performance, energy efficient, triple glazed U-value 1.0 windows. Along with the replacement of the façade appliances and adaptations to the ventilation systems, the energy efficiency of the building increased considerably resulting in energy savings of approximately 70%.
For more details, visit the Sustainability site on our group website here.