Sustainability in figures – 2022

The key figures shown represent the values achieved for 2019, 2021 and 2022. The CRREM method (version 1) widely used in Europe was used to calculate the key figures. The values may deviate from the key figures calculated according to the requirements of the Asset Management Association Switzerland (AMAS). Further information on the calculation methodology can be found in our methodology section.

The target of reducing greenhouse gas intensity to 35 kg CO_2e/m² by 2030 could already be outperformed in 2021. The values apply to a subset of the total portfolio and in some cases include estimates or extrapolated data. This may impact performance of the fund as data quality and coverage improve.

The 2020 data are not presented as building energy demand and associated carbon emissions were materially affected by the impacts of the COVID-19 pandemic and therefore do not represent typical utility usage patterns.

The fund's total energy consumption recorded a slight increase, which is attributable to the acquisition, sale or renovation of assets. On a comparable basis, however, energy consumption fell by 9 percent.

The ongoing decarbonisation of the European power grid has also had a beneficial impact on the portfolio’s overall emissions. The reduction in fossil-fuel power generation in France and the UK made the biggest contribution here.

¹ The assessment period refers to the period 01.04. to 31.03. of the following year. 2020 was strongly influenced by COVID-19. The measures taken to combat the pandemic have varied from country to country – properties such as offices, retail, hotels or logistics have been used differently. Therefore, 2019 is shown for comparison purposes.
² For the calculation of energy and greenhouse gas intensity, an assurance report from the external auditor is available.
³ Non-fossil energy sources are electricity and district heating with green tariff; fossil energy sources are gas, oil, district heating and electricity without green tariff.

Information on the calculation methodology can be found in our methodology section.

In December 2023, the Swiss Pension Fund Association ASIP published an ESG reporting standard for Swiss pension funds.

Zurich Invest Ltd and Zurich investment foundation follow this standard and publish the key figures of their funds and investment groups in accordance with the ASIP standard.

Here you will find the ASIP-ESG key figures for «ZAST Real Estate Europe Direct».

Learn more about the key figures in the Schroders Sustainability Report.

More information on performance.

The key figures are based on measured energy consumption values. The consumption values are collected via consumption invoices from energy suppliers and automatic and manual meter readings.

Incomplete or missing consumption values were supplemented by estimates on a case-by-case basis. Missing data was estimated using an average of historical daily consumption of the individual meter/supply, and applied to missing days of primary consumption data. For non-existent values average values were also added on a case-by-case basis.

Greenhouse gas emissions are calculated and presented according to the rules of the Greenhouse Gas Protocol, ISO 14064 and CDP. 

Emissions factors for fossil-based consumption were calculated using published figures for energy supplies, at a country-level, using the location-based methodology, in accordance with the Greenhouse Gas Protocol. Emissions values represent energy consumption only. Scope 3 emissions values relate to tenant managed energy supplies only. 

The emission coefficients used for the calculation of greenhouse gas emissions are average values for European countries for the accounting period (calendar year) according to the location-based approach of the Greenhouse Gas Protocol (in kilograms CO₂ equivalent / kWh):

¹ Emission coefficients for district heating and natural gas: a European factor was applied for the remaining countries (except the United Kingdom).

Source of emission coefficients: DEFRA/BEIS for the United Kingdom, IEA (electricity) COM-EF (natural gas), German factor (district heating) for the remaining countries

The total area of completed buildings is the total area of the properties of the real estate investment products for the respective balance sheet year (calendar year).

Finished buildings include buildings that were owned for the entire reporting period and had energy data for 95 percent or more of the total floor area.

Finished buildings do not include buildings in progress, construction projects, building land and demolition properties as well as individual properties that are due for sale or complete renovation in the near future. Property purchases in the financial year and construction projects completed in the financial year are not included; these are only recognised in the balance sheet as completed buildings in the following year. 

The energy reference area calculated from the rentable area is used as the area type.

The degree of coverage is the measure of the proportion of areas for which energy consumption values for space heating and general electricity were collected in the billing period in relation to the area of all completed buildings.

The portfolio included fewer assets in 2019 than in 2021 because the data collection process was initiated in 2018. Due to the complexity of data collection, complete data sets were not yet available for several assets in 2019.

The underlying data for the calculation of the environmental indicators was validated by an external auditor (IHS Markit contracted through Evora Global Limited) in accordance with AccountAbility's AA1000 Assurance Standard 2020 v3 (AA1000AS), Type 2.

Assurance Statement 2021
Assurance Statement 2022