Sponda’s Sustainability Review 2023: GRESB Global Sector Leader exceeds its climate and energy efficiency targets again

“I am extremely proud of our impressive sustainability achievements during 2023. Our ambitious sustainability goals, and the work we are doing to meet them, form a key part of our business strategy and approach to development. The central location of our properties, combined with the high standards of sustainability and quality, respond to the sustainability requirements of our customers and stakeholders and support them in achieving their own environmental goals. All of these have become key strategic decisions of company leaders when selecting their future office,” says Christian Hohenthal, President and CEO of Sponda.

Significant investments in environmental sustainability and communities 

In 2023, Sponda met several significant milestones in terms of its sustainability activities.

• Sponda shares the number one position in the GRESB 2023 assessment as a sustainable property owner and developer, and the company was again recognised as the Global Sector Leader in its peer group. This year’s assessment marked the eleventh year in a row that Sponda’s commitment to sustainability has been awarded, with two of its projects - Signe, in the heart of Helsinki, and a new office building in Tikkurila, Vantaa - given the maximum score for sustainable construction.

• By the end of 2023, Sponda had reduced its energy consumption related emissions by 81.4% (Scope 1 and 2, compared to the average for 2016–2018). The company is committed to reducing its carbon footprint and achieving carbon neutrality across its portfolio’s energy consumption by 2025. Sponda’s climate targets have been approved by the Science Based Targets initiative (SBTi), with a goal to reduce all emissions by at least 46.2% by 2030. This target also includes indirect Scope 3 emissions in the value chain. All Sponda’s shopping centres, and a significant proportion of the company’s properties in the centre of Helsinki, are already carbon neutral in terms of energy consumption (Scope 1 and 2).

• Sponda has reduced energy consumption across its entire real estate portfolio by 11.8% (compared to the average for 2016–2018). Investments and energy efficiency measures helped the company achieve energy savings of more than 10,000 megawatt-hours last year.

• Sponda achieved 13 new environmental certifications last year, and at the end of the year, 88% of the company’s properties were BREEAM or LEED certified. The company’s goal is to certify 94% of its properties by the end of 2025, measured by the value of its properties. Over the last two years, Sponda has updated its energy certificates for most of its properties, 75% of which now have an EPC rating of C of above.

• During 2023, Sponda finalised its new ESG design guidelines. These include the implementation of new construction projects and renovations in accordance with the EU taxonomy criteria. Lifecycle carbon footprint thresholds were also set for new construction and renovation projects.

• Sponda made biodiversity a key priority in its sustainability strategy and defined clear biodiversity targets and measures for 2024–2025. The company is working closely with ecologists to strengthen its positive impact on local ecosystems in the areas in which it operates.

• Sponda’s new facilities in the centre of Helsinki increased the wellbeing of employees. This was reflected in the company’s net promoter score (eNPS), which increased from 33 to 38.

• Last year, Sponda clearly exceeded the goals set in its community programme. Sponda’s shopping centres hosted more than 100 community events that reached more than 4.8 million people. These events included Earth Hour and Helsinki Pride. Sponda employees participated in volunteer work during their working hours, providing approximately 640 hours of voluntary work, a scheme that will continue this year.
  
  

“Growing awareness of climate change and the scarcity of natural resources means it is more important than ever to ensure our portfolio is resilient and meets ambitious sustainability requirements. Going forward, our sustainability activities will continue to focus on reducing the emissions from our operations, safeguarding human rights and ensuring health and safety throughout our value chain”, says Pirkko Airaksinen, Sponda’s Head of ESG.

Sponda’s Sustainability Review 2023 can be downloaded from Sponda’s website.