UNEPFI Sustainalb Real Estate Project

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Jean-Pierre Sicard, Président - Novethic - France

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UNEPFI Sustainalb Real Estate Project

  1. 1. Sustainable Property policies : example of Caisse des Dépôts Jean-Pierre Sicard Head of Sustainable Development Caisse des Dépôts TBLI Conference, November 10th 2006
  2. 2. Contents <ul><li>Key Informations </li></ul><ul><li>Better metrics and actor awareness to incorporate ESG factors in Property </li></ul><ul><li>« CO² domestic projects » t o stimulate GHG emissions reductions </li></ul><ul><li>Innovating actions to test and developp best practices </li></ul>
  3. 3. Housing and Real Estate ( blue ) : 43% of French energy consumption <ul><li>Housing and Real Estate : Main part of energy consumption and high potential energy savings (ratio 224 KWH/m2 in total Housing & RE) </li></ul><ul><li>Final energy consumption : evolution by sectors (normal climate) </li></ul>
  4. 4. Housing and Real Estate in France : high contribution to GHG emissions <ul><li>Size </li></ul><ul><li>Residences : 2 135 million m² </li></ul><ul><li>Offices : 800 millions m² </li></ul><ul><li>Average duration : 100 years </li></ul><ul><li>GHG Emissions </li></ul><ul><li>25% of national CO² emissions </li></ul><ul><li>2 tonnes CO² / person / year </li></ul>
  5. 5. Caisse des Dépôts : our choices <ul><li>To promote environmental metrics in property </li></ul><ul><li>To use the Kyoto mecanismes in the building sector </li></ul><ul><li>To test and develop best practices and knowledge within the CDC group and our real estate asset management </li></ul>
  6. 6. Contents <ul><li>Key Informations </li></ul><ul><li>Better metrics and actor awareness to incorporate ESG factors in Property </li></ul><ul><li>« CO² domestic projects » t o stimulate GHG emissions reductions </li></ul><ul><li>Innovating actions t o test and developp best practices </li></ul>
  7. 7. Promoting better metrics to consider financial returns <ul><li>To incorporate ESG factors in the building sector, all actions need simple, comparable, easily checked … metrics </li></ul><ul><li>Not yet the situation in France… : </li></ul><ul><ul><ul><li>Lack of studies on financial return </li></ul></ul></ul><ul><ul><ul><li>Public and private not easily comparable certifications </li></ul></ul></ul><ul><li>Recent progress : </li></ul><ul><ul><ul><li>Official and obligatory energy diagnosis </li></ul></ul></ul><ul><ul><ul><li>Growing reflexion on « low energy » buildings </li></ul></ul></ul>
  8. 8. A « low energy » certification in France <ul><li>The Caisse des Dépôts is a founding member of EFFINERGIE along with local authorities banks, professionnals, regional agencies…, to introduce into France the equivalent of the Swiss MINERGIE low consumption Housing Certification </li></ul><ul><li>Both energy consumption and CO² impact are reduced : </li></ul>
  9. 9. Contents <ul><li>Key Informations </li></ul><ul><li>Better metrics and actor awareness to incorporate ESG factors in Property </li></ul><ul><li>« CO² domestic projects » to stimulate GHG emissions reductions </li></ul><ul><li>Innovating actions to test and developp best practices </li></ul>
  10. 10. European Emissions Trading Scheme extension to include Property Sector <ul><ul><li>In France, greenhouse gas emissions covered by the European Emissions Trading Scheme accounted for 27% of domestic emissions in 2003 . </li></ul></ul><ul><ul><li>The Caisse des Dépôts promotes Domestic Offset Projects, aiming at rewarding CO2 emission reductions with Tradable allowances , in the sectors not covered by the EU ETS : agriculture, transports and building . </li></ul></ul>
  11. 11. Carbon Assets in exchange for GHG emission reductions in the building sector <ul><li>A dedicated fund for domestic offset projects would offer project sponsors attractive financial incentives for projects that reduce greenhouse gas emissions </li></ul><ul><li>Buildings sector’s potential emissions reductions : projects to improve : </li></ul><ul><ul><ul><li>the management of service sector buildings </li></ul></ul></ul><ul><ul><ul><li>changes in commercial refrigeration systems </li></ul></ul></ul><ul><ul><ul><li>replacement of fossil-fuel boilers </li></ul></ul></ul><ul><li>=> For investors : financial returns rewarding efforts in the fight against Climate Change in Property Management </li></ul>
  12. 12. Contents <ul><li>Key Informations </li></ul><ul><li>Better metrics and actor awareness to incorporate ESG factors in Property </li></ul><ul><li>« CO² domestic projects » to stimulate GHG emissions reductions </li></ul><ul><li>Innovating actions to test and developp best practices </li></ul>
  13. 13. Our initiatives in our lending policies <ul><li>The Caisse des Dépôts is the main lender to Social Housing Agencies : ~ € 3.5 bn/year </li></ul><ul><li>The launching of a new loan with a lower interest rate for energy-efficient buildings Based on the THPE standard (Very Low Energy Consumption Performance) : 15% more energy efficient than the regulatory standards </li></ul><ul><li>Triple impact expected : </li></ul><ul><ul><ul><li>Economical : new energies and innovations booster, less risk for the lender </li></ul></ul></ul><ul><ul><ul><li>Social : energy bill savings for people </li></ul></ul></ul><ul><ul><ul><li>Environment : GHG reductions, environmental quality buildings </li></ul></ul></ul>
  14. 14. Our subsidiaries' initiatives <ul><li>Icade (company listed on the French Stock Market) </li></ul><ul><ul><li>inaugurated the first French Environmental Certified Offices Building (picture) </li></ul></ul><ul><ul><li>is currently organizing the Sharing of Environmental Best Practices among its own 14 subsidiaries </li></ul></ul><ul><ul><li>soon launch highly efficient energy consumption programs (<50kWh/m²/yr) </li></ul></ul><ul><li>SNI Group (Social and middle-income housing management) : each of its subsidiaries will have (2007) 1 building at least labeled Housing & Environment </li></ul><ul><li>=> Today, the lack of proved financial return is the main difficulty to extend these “best practices” </li></ul>
  15. 15. <ul><li>Thank you for your attention ! </li></ul>

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