Sustainability Milestone: CapMan Hotels Fund Slashes Energy Usage Amidst Market Rebound

Photos: Hotel Crowne Plaza, Hotel Glo Art

(IN BRIEF) The CapMan Real Estate Hotels Fund has made significant strides in transforming its portfolio towards sustainability between 2021 and 2022. Despite a post-pandemic market resurgence, the fund achieved a 37% reduction in CO2 emissions and a remarkable 8% decrease in energy consumption. Key initiatives included switching to carbon-free energy, implementing energy monitoring systems, renovating for energy efficiency, and actively engaging tenants in sustainability efforts. Looking ahead, the fund remains committed to further reducing energy intensity and emissions, guided by a carbon reduction roadmap aligned with Science Based Targets for 2027 and 2032. This accomplishment underscores the fund’s dedication to a greener future.

(PRESS RELEASE) HELSINKI, 11-Sep-2023 — /EuropaWire/ — CapMan, a leading Nordic private assets management and investment company, announces that its Real Estate Hotels Fund has made significant strides towards a more sustainable future, achieving notable reductions in energy consumption, CO2 emissions, and greenhouse gas (GHG) intensity between 2021 and 2022. All of this progress was realized while the market was experiencing a post-pandemic resurgence in occupancy rates. The fund’s unwavering commitment to sustainability resulted in a remarkable 37% reduction in operational market-based CO2 emissions and GHG intensity, accompanied by an 8% decrease in absolute energy consumption and energy intensity. In 2021, the Hotels Fund accounted for approximately 45% of CapMan Real Estate’s total emissions, a figure that dropped to 34% in 2022, underscoring the significance of this achievement.

This remarkable transformation can be attributed to a concerted and multifaceted effort aimed at enhancing the fund’s sustainability performance. Key initiatives that contributed to these outstanding results include:

1. Transition to Carbon-Free Energy: The fund successfully transitioned to carbon-free energy sources in the majority of its assets and actively encouraged its tenants to follow suit.
2. Enerkey Energy Consumption Monitoring: The implementation of the Enerkey energy consumption monitoring system allowed for more precise control and management of energy usage.
3. Energy-Efficient Renovations: Major renovation projects incorporated energy-efficient measures, such as enhanced heat recovery, pool technology upgrades for improved water and energy efficiency, life cycle design enhancements, and the renewal of glass roofs.
4. Building Automation Optimization: Ongoing building automation optimization projects ensured that properties were operating at peak energy efficiency.
5. Energy Audits: Comprehensive energy audits were conducted to identify areas for improvement and optimization.
6. Solar Panel Feasibility Studies: Solar panel feasibility studies were conducted for all assets to harness renewable energy sources.
7. Exploration of Alternative Heating Systems: The feasibility of alternative heating systems, including geothermal heating, was thoroughly assessed.
8. Enhanced Energy Data Quality: Properties were connected to energy data systems, improving data quality and enabling more informed decisions.
9. Tenant Engagement and ESG Awareness: Active engagement with tenants was pursued, fostering increased awareness of environmental, social, and governance (ESG) issues and encouraging collaboration.

As the fund looks to the future, its commitment to the green transition remains unwavering, particularly given the age of its building stock. The fund’s vision includes further reductions in energy intensity and emissions, in line with its carbon reduction roadmap. This roadmap, aligned with the Science Based Targets initiative, outlines ambitious short-term and long-term GHG emission targets to be achieved by 2027 and 2032, respectively.

The CapMan Real Estate Hotels Fund is setting a commendable example in the real estate industry, demonstrating that sustainability and economic success can go hand in hand. Through innovation, commitment, and collaborative efforts, the fund continues to pave the way towards a greener and more sustainable future.

Media contact:

Anna Rannisto
Real Estate Sustainability ESG Manager
anna.rannisto@capman.com
+358 40 6266 383

Linda Tierala
DIRECTOR, COMMUNICATIONS & IR
linda.tierala@capman.com
+358405717895

SOURCE: CapMan