The STREM Board has recognised the importance of adopting sustainable environmental business practices to reduce the impact of the Fund’s activities. The Emira Green Building Policy defines the Fund’s actions to manage its impacts and an Environmental Committee was established to manage and monitor these initiatives. The policy is aimed at the continuous improvement in how new, refurbished and existing buildings perform over their entire life cycle from an environmental, energy and economic perspective. The upgrading of the Emira portfolio is viewed, not only as responsible investing, but as a strategic advantage in terms of rentals obtainable and tenant retention. The Fund recognises its responsibility to protect the interests of all its stakeholders and the objectives of the Fund are to conform to its stringent requirements for transparency, while operating profitably and remaining accountable to the broader community which it serves and respecting the natural environment.

Specific goals are to:

  • Create a common and consistent framework for green building standards across all properties within the portfolio.
  • Take better care of the environment in which the Fund operates — including identifying and responding to risks and opportunities associated with climate change.
  • Minimise the negative environmental impacts associated with building site selection, construction, refurbishment, operation, maintenance, repair and demolition without impairing the intended use of the function of the building.
  • Reduce overall expenditure through improved building performance.
  • Lower greenhouse gas (“GHG”) emissions from buildings by improving energy efficiency and expanding the use of clean, renewable energy.
  • Capitalise on other benefits often achieved by green buildings such as healthier, more productive indoor environments and improved asset value.
  • Create economic opportunities by stimulating demand for green building products and services.
  • Encourage tenants, through constant communication, to adopt more environmentally friendly practices in their own businesses.

The Carbon Disclosure Project (“CDP”) is an international voluntary disclosure programme run by an independent not-for-profit organisation holding the largest database on GHG emissions and climate change response actions by business. The JSE Top 100 companies are invited tosubmit data and Emira has participated for the past four years, the result of which will be published subsequent to the distribution of this integrated report. The Fund commissioned an external service provider to conduct a carbon footprint analysis of its operations for the financial year 1 July 2013 to 30 June 2014. The scope included the Head Office in Johannesburg, 80 Strand Street in Cape Town (50% owned) and all Emira-owned properties in Gauteng, Western Cape, Eastern Cape, Free State and KwaZulu-Natal, across the retail, office and industrial portfolios. Emira pursued this analysis in order to provide an absolute measure of all sustainability measures implemented and to fulfil its moral and ethical obligation to society in general. Electricity accounts for 97,6% of total Group carbon emissions and the retail sector is responsible for the largest portion of scope 2 emissionsof 48,9%, followed by the office sector with 34,8%. This apportionment is in line with total GLA per sector and the varying degrees of energy intensities associated with each sector. Gauteng accounts for 63,2% of energy consumption followed by KwaZulu-Natal at 13,9%.

ANNUAL CHANGES IN EMISSIONS

Scope Source 2011  2012 2013 2014 % change from
2013 to 2014
Scope 1 Fugitive emissions
(Kyoto gases)
16,90 94,10  485,42  51,92  -88,67
Scope 2 Electricity 213 081,34 187 107,03  178 306,80  180 534,67  1,25
Other direct Fugitive emissions (non Kyoto gases) 1 164,74  1 110,62  3 349,62  3 055,82  -8,77
Scope 3 Electricity (leased
assets)
65,67  60,42  47,09  —  —
Business travel  25,80  19,80   19,24  20,29  5,44
Water  1 371,30  1 185,64  1 148,81  1 148,48  0,03
Paper 0,53  1,07   3,23  2,42  -25,01*
Employee commute  17,17  12,78  19,24  25,72  33,66
TOTAL TONNES
CO2e
 215 743,43  189 591,46   183 352,45  184 839,33 0,81

Emira’s sustainability strategy incorporates a multi-faceted approach to target the development of new green buildings, as well as to redevelop and improve the performance of existing assets.

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