Alignment with the EU taxonomy

As a property company, we are subject to disclosure requirements on the extent to which our operations are environmentally sustainable according to the EU taxonomy. In 2021, we analysed which economic activities are eligible for the taxonomy and concluded that they were new construction projects, major renovations and the properties under our management.

Also in 2021, we took out our first taxonomy-adapted loan for the Signalen 3 property in Solna. During 2022, we looked at how we comply with the taxonomy in our newly launched major construction projects. We estimate that we are complying with objectives 1, 2, 3 and 6 in the projects we have investigated, but that there is some uncertainty around objectives 4 and 5, partly due to insufficient clarification and interpretation of the criteria, but also because the sector is not sufficiently mature.

Our reporting according to EU Taxonomy Regulation

We carry out both construction (via building contractors) and management of buildings, and the entire business falls within the scope of the taxonomy. The activities in which most of our operations are described are 7.7 Acquisition and ownership of buildings and 7.1 Construction of new buildings, but other activities may also be relevant to a lesser extent.

We demonstrate that we make a substantial contribution to one of the six environmental objectives of the Taxonomy Regulation, objective 1: Climate change mitigation, as this is the objective that is most relevant to our business. The other five environmental objectives come under the Do No Significant Harm criteria (DNSH) for our business. We believe we also meet the taxonomy’s requirements for Minimum Safeguards related to human rights, anti-corruption, transparency regarding tax burdens and fair competition. The requirements of the EU taxonomy are highly consistent with our sustainability work, which is presented in our report. We therefore believe that we satisfy the taxonomy’s requirements; see model below.

Principles for financial reporting according to the EU taxonomy

The proportion of our operations that is environmentally sustainable according to the EU Taxonomy Regulation is reported via three financial ratios, which indicate the percentage of turnover, operating expenditure and capital expenditure that is taxonomy-aligned.

KPI Total,
Percentage aligned with
taxonomy 2022,
Turnover 3 327 62
Operating expenditure 133 53
Capital expenditure 3 336 18

62 %

53 %
Operating expenditure

18 %
Capital expenditure

See our full taxonomy report

Examples of our work related to the EU taxonomy

We continued with our climate resilience analyses in 2022, work that began in 2021 in several of our districts. It involves assessing future physical climate risks and what climate adaptations we should make to reduce these long-term risks.

Another important objective in the taxonomy is energy-efficient buildings, an area we are continually working with, and where we are at the forefront. Our average primary energy rating is 71 kWh/sqm Atemp, and as much as 67 per cent of the space in our property portfolio is within the top 15 per cent in terms of energy performance (as defined by the Swedish Property Federation’s survey, which shows that the top 15 per cent in office buildings in Sweden corresponds to buildings with a primary energy rating below 80 kWh/sqm Atemp).

Changed 28 June 2023