Portafolio Inmobiliario Updates Its Business Strategy with a Double Materiality Approach

At the close of its first four-year sustainability strategy, real estate developer and asset manager Portafolio Inmobiliario set out to raise the bar once again — designing, for the first time in the country and within its industry, a strategy based on the double materiality approach.

Double materiality integrates financial results with environmental, social, and governance (ESG) criteria, allowing the company to assess risks and opportunities from both a financial and sustainability perspective.

To build this plan, Portafolio Inmobiliario conducted a comprehensive process: a review of recurring ESG topics, sessions to define financial and impact materiality, stakeholder consultations, and co-creation workshops to set goals, objectives, and indicators for each material topic.

The process involved representatives from across the company, resulting in a five-year strategy covering 10 material topics, each with a core goal:

Environmental

- Climate Action: Align operations with the Science Based Targets initiative (SBTi) and International Sustainability Standards Board (ISSB) to mitigate climate change.

- Eco-efficiency: Reduce water consumption by 20%, energy consumption by 10%, and landfill waste by 60%.

- Biodiversity: Achieve zero net nature loss by preserving and restoring ecosystems in our areas of influence.

Social

- Talent: Strengthen human capital through development programs and a culture of organizational well-being; reduce multidimensional poverty in related communities by 50%; and increase women’s representation in leadership by 40%.

- Community: Build stronger relationships with surrounding communities by increasing trust through active participation and sustainable programs.

- Urban Planning: Implement a new model for sustainable, inclusive, and safe urban development.

Governance

- Corporate Communication: Position the company as a national benchmark in triple positive impact — economic, social, and environmental.

- Corporate Governance: Lead the real estate sector with transparent and responsible governance practices.

- Innovation & Technology: Drive digital transformation and foster a culture of innovation to boost adaptability and competitiveness.

- Economic Performance: Ensure return on invested capital to fulfill our purpose of transforming cities and generating positive impact.

“This decision reinforces our commitment to our communities, partners, collaborators, and to our purpose of driving development by transforming cities. We want our projects to be greener, safer, and more inclusive — places where economic growth and social well-being go hand in hand,” said Alfredo Volio, CEO of Portafolio Inmobiliario.

By adopting this innovative double materiality strategy, the company reaffirms its industry leadership, taking a comprehensive and forward-thinking approach to sustainability. Balancing both financial impacts and environmental and social effects, Portafolio Inmobiliario aims not only to meet its business objectives, but also to contribute significantly to Costa Rica’s sustainable development.