Expo Real: Logistics must be sustainable ‘inside and out’
A better working environment encompasses the outside as well as the inside, delegates heard at Real Asset Media’s Sustainable Logistics briefing, which took place yesterday in the International Investors’ Lounge at Expo Real in Munich.
“Wellbeing is increasingly important for tenants and their demands have grown,” said Emilia Dębowska, sustainability manager, Panattoni. “Our strategy is to meet tenants’ expectations so we have upgraded our buildings’ certification to Excellent, improving ventilation, allowing more natural light in and so on.”
But that is just one part of the wellness aspect, she said: “The outside environment is as important as the inside. We make sure there are meadows and fields around our warehouses and we have introduced natural habitats for insects and wildlife, so that there are places for employees to sit and rest and be in nature.”
The focus has to be both on new assets, which have to be built sustainably, and on existing assets, which need to be upgraded.
Ugrading a choice and a necessity
“Our whole portfolio has been certified since last year”, said Richard Wilkinson, CFO & deputy CEO, CTP. “As we build to own, we have gone back and improved the quality of our buildings that were completed some time ago. It is part of investing for the long term.”
Upgrading existing buildings is a choice but also a necessity, as tenants now expect higher standards and regulations demand them. It is also an imperative for investors who want to preserve the value of their assets.
“The big challenge is the immense destruction of value of an existing portfolio, and it is an issue that investors and pension funds are increasingly looking at,” said Edward Bates, president & CEO, Stam Europe. “A lot of capital is needed to upgrade buildings, so it is a problem but we also see it as an opportunity.”
Facts will count far more than words, as by 2023 everyone in the EU will have to report on what they are actually doing. “Action is crucial, especially for developers with a large footprint like us, because 2050 is too distant a date,” said Wilkinson. “No more grand aspirations in theory or ambitious targets on paper, what matters is acting and acting now.”
