Aberdeen Asset Management is to launch a new sustainability framework intended to stimulate efficiency refurbishments and new development projects in the UK.
The new framework will form part of the asset manager’s global Responsible Property Investment strategy which includes plans to improve sustainability and energy efficiency across its £19.3 billion property portfolio.
The programme will initially be launched in the UK before comparable versions are rolled out across Europe.
Andrew Creighton, head of direct property in Europe at Aberdeen Asset Management, said: “We see this as a key initiative for our direct property business in 2016. This is about saying to the market that this is what you can expect from an Aberdeen managed property.
“It is also saying to the wider development community that if you want to work with us then you can expect to have to achieve sector leading sustainability requirements.”
In support of the new initiative, the company has appointed five consultancy firms to manage the process and report back on the all of its projects..
Dan Grandage, head of responsible property investment at Aberdeen Asset Management, told Clean Energy News: “In general, the panel will be focused on new developments and planned refurbishments of all asset types. This will inevitably include LED lighting and building management systems, but it will also include wider improvements including green certification, and community engagements.”
The firms – Envision, Greengage, Synergy, Tuffin Ferraby Taylor and Verte – will also advise on a range of issues related to the new work, including energy efficiency post occupancy evaluation, health and wellbeing of occupiers, local community engagement and investment.
Aberdeen said the strategy is intended to provide more efficient and better designed buildings for its tenants, who stand to benefit from lowered operational costs and improved working environments.
Estelle Hunt, head of project development management for the company, added: “This is not about a box ticking exercise, or about chasing green certificates. The panel of sustainability experts have been specifically selected to help us achieve our long term objectives and ensure that we are future proofing the portfolio to the benefit of both our investors and our occupiers”
In addition to the implementation of the framework, Grandage said the company was pursuing a number of other initiatives, including a UK wide energy management programme linked to the government’s mandatory energy auditing scheme ESOS. This has identified a number of improvement opportunities including LED retrofits.
“We are currently reviewing whether there is scope and benefit in rolling out a portfolio wide LED retrofit programme. We also undertook a portfolio wide review of solar feasibility last year, and we are currently working through feasible sites and taking them to install,” Grandage added.
The increased efforts to improve its property portfolio coincide with the company’s preparations for new minimum energy efficiency standards, which come into force in 2018. From 1 April, owners will be prohibited from letting out properties that have EPC ratings below band E. These standards are expected to affect nearly a fifth of commercial buildings.
