CICERO Shades of Green has conducted an independent evaluation of Fabege from a sustainability perspective. The results reveal that 95 per cent of Fabege’s revenue and investments for 2020 were classified as green. Furthermore, Fabege has received CICERO’s highest rating, ‘excellent,’ in an assessment of the company’s sustainability governance.
CICERO has concluded that Fabege has a comprehensive sustainability strategy, including ambitious climate targets.
CICERO Shades of Green evaluates bond and shares from a sustainability perspective. The evaluation approach for equities is built on a quantitative and qualitative analysis of a company’s entire operations, in which both revenue streams and investments are classified in three shades of green (or brown) depending on their compatibility with a carbon-neutral future. The evaluation also examines the company’s governance and strategies associated with sustainability.
- “The results reveal that pursuing sustainable operations is clearly profitable. We want to make a positive contribution to the long-term sustainable development of the Stockholm region, and Fabege has ambitious targets both for properties and customer offerings. We have come a long way, but we also understand that the construction and property sector’s essential transition to a more sustainable approach will remain a key feature of our work for some time to come,” commented Mia Häggström, Fabege’s Sustainability Manager.
In November 2020, Fabege was ranked as a global leader in the office sector among listed property companies in GRESB’s (Global Real Estate Sustainability Benchmark) annual evaluation of the property sector from a sustainability perspective. And in December the company achieved its target of 100 per cent green financing.
- “We’re getting an increasing number of enquiries from investors on the equity market about our strategy and our objectives in the area of sustainability. CICERO’s opinion is a testament to the fact that we’re on the right track and strengthens our resolve to contribute towards achieving the goals set out in the Paris Agreement,” commented Åsa Bergström, CFO at Fabege.
Fabege’s sustainability goals include:
- Climate neutral management (Scopes1 and 2) by 2030
- Indirect emissions (Scope3) to be cut by half by 2030
- Environmental certification of the entire property portfolio – 100% (currently 100%)
- 100% green financing (currently 100%)
- Average energy consumption in 2023 shall amount to an average of max. 77kWh/sqm(currently 81kWh/sqm)