Real Estate Portfolio reports important environmental, social and community results in its first Sustainability Report
https://observador.cr/portafolio-inmobiliario-da-cuenta-de-importantes-resultados-ambientales-sociales-y-comunitarios-en-su-primer-reporte-de-sostenibilidad/Real Estate Portfolio presented its first Sustainability Report this Thursday, which details the efforts that the company makes in environmental matters, such as the mitigation of its environmental footprint in its different projects.
The document also highlights the group's actions that have an impact on the community, governance and internal organization (relationship with its collaborators).
The group has the following projects for commercial, residential, industrial and office use:
- Lincoln Plaza
- Torre Universal
- Aleste
- Avenida Escazú
- Escazú Village
- El Cedral
- Mango Plaza
- C3 Cariari Corporate Center
- Costa Rica Green Valley
- Terrazas Lindora
- Terminal 7-10
- San Antonio Business Park
- Nueve84
- Plaza Tempo
Daniel Villafranca, Director of Sustainability of the Real Estate Portfolio, was more than satisfied with the achievements made in the last year, the period for evaluating the results.
In this report, it is possible to condense the positive impacts of its strategy for the knowledge of its stakeholders.
“Currently, the interested parties linked to the business, such as customers, tenants, business partners, banks and investors, among others, demand concrete actions that generate social, environmental and financial value.
“At the Real Estate Portfolio we are aware that, in a world that changes so rapidly and that has so many dependencies on natural capital, we must consider the physical and financial risks of climate change.
"Also (assess) a transition to a decarbonized economy to guarantee a good corporate reputation and maintain long-term business relationships," Villafranca said.
The person in charge commented that it is a strategy drawn up throughout the life cycle of the different projects of the group. This is from design to asset development and operation.
It is worth mentioning, however, that Portafolio has been carrying out actions aimed at propping up the sustainability of its operations since 2019.
Some environmental actions
Unlike reports or memories, the report allows organizations -such as the Real Estate Portfolio- to have a defined methodology and compare results year after year.
Among the ecological actions, Villafranca detailed, for example, the measurement of energy consumption and water resources, emissions or carbon footprint, as well as biodiversity studies.
Only in terms of energy, Portafolio Inmobiliario has managed to generate 9.22 terajoules (TJ) of solar energy in its projects. This figure is equivalent to the monthly electricity consumption of 1,100 homes.
In addition, during 2022, 18% of the solid waste generated in the projects was valued. This avoided sending approximately 280 trucks of waste to the landfill.
Likewise, 50 tons of organic waste were composted, which is equivalent to the production of 25 tons of fertilizer to improve soil fertility in agriculture.
Greenhouse gases
Regarding the estimate of greenhouse gases (GHG), the Lincoln Plaza, Torre Universal, Central Offices, Avenida Escazú, Escazú Village, El Cedral and Mango Plaza projects have reported their GHG inventories.
This allows defining mitigation measures to reduce emissions, as well as identifying opportunities for cost reduction and energy efficiency.
Likewise, the Real Estate Portfolio has advanced in sustainable construction by inaugurating the Aleste project in Curridabat.
Villafranca stressed that this project's vision is to contribute to the development of a walkable, inclusive, green and safe city.
It is that people can enjoy their public life, come into contact with cultural and recreational activities through active participation and the creation of community.
With the implementation of the Business Alliance for Development (AED) Business Biodiversity Management Guide methodology, Aleste carries out actions to protect biodiversity.
It also dedicates efforts to strengthening ecosystem services, contributing to the prevention of erosion and adaptation to climate change.
What is done in other projects
During the construction process of Universal Tower, the "Waste Management Plan" was implemented, with which 81.84% of the waste generated during the construction stage was diverted from sanitary landfills through donation, reuse and recycling.
Significant progress has also been made in the construction of the Costa Rica Green Valley project, located in Grecia, and its Nitrile Gloves industrial facility. This received the Ecological Blue Flag award in the Sustainable Construction category.
Another example is the transformation of C3 Cariari Corporate Center into a top-level mixed-use project, by applying the global trend of reusing real estate structures.
More recently, Portafolio started the development of the AE300 building on Avenida Escazú. There, for the first time, the inventory of greenhouse gases has been collected since the construction process.
Internal and community impact
The Sustainability Report also addresses the dimension of work culture as well as community impacts.
Villafranca indicated that a robust staff attraction, retention and development policy was established as part of the sustainability strategy.
1. Being a Great Place to Work (GPTW). It is a Portfolio certification achieved in 2021.
2. Evaluate the socioeconomic reality of the collaborators through the Business Multidimensional Poverty Index (IPMe). This makes it possible to attend specific interventions for more critical cases.
3. Design a local and inclusive recruitment program. The senior executive said that his representative managed to ensure that 60% of the collaborators live close to the projects where they work and, thus, positively impact the quality of life of these people.
"In addition, we have a commitment to gender equality, Portafolio Inmobiliario is a signatory of the Women's Empowerment Principles (WEPs), established by the Global Compact and UN Women, and in the company we have a Gender Equality Committee with a work plan”, pointed out Villafranca.
Finally, the company has invested $7.5 million in public infrastructure (about 22,000 square meters) such as parks and walking areas.
“Investment in sustainability is essential for the survival and success of the operation. It facilitates business continuity and strengthens the relationship with stakeholders”, she stressed.
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