The Generali Group is a global asset manager which also takes account of the issue of environmental respect in its investment strategies. Our sustainable investment guidelines are designed to avoid shareholdings in companies that seriously damage the environment and to guarantee highly sustainable real estate assets.
Green guidelines for real estate
Generali Real Estate (GRE) is the Group company that manages real estate assets of a value of around € 27 billion, distributed in thirteen different markets in the world. Through the management of a portfolio of unique diversity, made up of both historic and recently-constructed buildings, GRE has developed in-depth know-how of technological innovation and sustainability. More specifically, as part of the European Green Building Workshop project, GRE has developed the Green Building Guidelines (GBG), which aim to improve the environmental performance of the Group’s real estate assets, ensuring they reach high levels in order to create environmentally-sustainable value. We have set ourselves two ambitious goals with this initiative:
- to pre-empt the regulations in order to contain the future obsolescence of real estate
- to make sure that through the whole real estate value chain (developers, managers, occupiers) efficient sustainability rules are known and implemented.
The progress made in the implementation of the guidelines is periodically monitored by referencing a series of specific indicators. The development of the project has resulted in HQE, DGNB, LEED and/or BREEAM certification for an increasing number of buildings. Below is a summary of some of the most significant projects carried out across the world.
Farragut Building wins an energy efficiency award
In 2015 the Farragut Building, owned by Generali, was declared the greenest building in Washington, receiving the highest Energy STAR rating - an annual certificate based on energy consumption - in the city. Built in 1961, the building was completely renovated in 2006, obtaining LEED Gold certification in 2012 and replacing its boilers in 2015. It has 12 floors and an overall surface area of 13,200 m2.
The Le BoMA complex in Suresnes, France, boasts 22,000 m2 of offices. Built in 1936, in 2013 it was completely renovated according to efficiency and energy saving criteria, obtaining HQE (Excellent) and BREEAM (Very good) certification. The main measures taken to improve its energy performance include the installation of thermal solar panels for the production of hot water, CO2 sensors for the optimisation of the ventilation and air recycling system, a ventilation system that makes it possible to recover warmth from discharged air, and plant cover on inaccessible terraces.
This London complex has fifteen floors of offices and covers a total area of around 39,400 m2. The demolition work required to reconstruct the building began in 2014 and the building will be ready in 2017. 80% of the building materials used in the project are of low environmental impact and 10% of the energy used come from energy sources with zero or low carbon emissions. There are also plans to install systems for the recovery of rainwater and the reuse of greywater. The building will also be equipped with parking spaces for bicycles and showers in order to encourage the use of this form of transport by employees. These measures will make it possible to obtain BREEAM (Excellent) certification by 2017.
Green Leases Agreement
In Germany GRE took part in a project also involving DLA Piper, DIFNI (Deutsches Privates Institut für Nachhaltige Immobilienwirtschaft), Union Investment and BIU (Büro für integrierten Umweltschutz) for the publication of the Green Lease Agreement, which was presented to the real estate market at Expo Real in Munich in October 2015. The document aims to develop contractual provisions as regards sustainability for tenants (social and environmental commitment, reduction in consumption, improvement of the workplace etc.).