a.s.r. real estate

Sustainability ambitions alongside positive impact

The real estate sector has traditionally focused on making an impact by improving the sustainability performance of buildings. And rightly so, since the built environment contributes 40% of worldwide greenhouse gas emissions. As a real estate fund which aims to make a positive impact, we have naturally set high standards for the sustainability performance of our Fund. Read more about our CO2-neutral ambition.

The ASR Dutch Science Park Fund (ASR DSPF) aims to make a positive impact in the Dutch education and innovation sector. It does this by investing in real estate which provides space for various commercial functions which are vital to the success of any science park’s ecosystem, but fall outside of the scope of an institution like a university.

One of the first buildings through which the fund aims to make a positive impact is a multi-tenant scale-up building on the TU Delft Campus. The building provides space for companies which have outgrown their start-up phase, but still have a strong connection with the university. The realisation of these types of buildings usually provide initial leasing risk, making traditional investors reluctant to invest in them. However, the fund’s unique partnership position provides an initial rental right for any tenant on campus, mitigating the leasing risk, and allowing for investment in a building which contributes to the quality of the ecosystem of the TU Delft Campus.

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Oldelft building on TU Delft campus
                              
Completely CO2-neutral portfolio by 2030

One of the main challenges that real estate investors face in terms of sustainability is the conversion of (older) non-sustainable buildings. For a real estate fund with a build-to-core strategy (targeting mostly new-build assets) launched in 2019, this challenge is greatly reduced. ASR DSPF therefore aims to build up a portfolio which will be in line with the Paris climate agreement well ahead of schedule (2050), by aiming for a completely CO2-neutral portfolio. As the fund targets existing and new buildings, ASR DSPF has formulated the following goals to achieve this target:

New buildings – CO2-neutral upon delivery – by means of the following measures:

  • No connection to the natural gas grid, with either an all-electric system or connection to a sustainable source
  • Maximising local energy production, at the individual asset level and the science park level
  • Green leases for every new tenant, including a requirement for electricity from a fully sustainable source (i.e. 100% wind or solar, supplied through the national power grid)

Existing buildings – progress towards CO2-neutrality by means of the following measures:

  • Switch from the natural gas grid to a sustainable source before 2030, or in line with regional or municipal planning
  • Maximising local energy production, at the individual asset level and the science park level, following the acquisition of the asset
  • Green leases for every new tenant, including the requirement for electricity from a fully sustainable source (i.e. 100% wind or solar, supplied through the national power grid)

Aiming for a CO2-neutral portfolio makes perfect sense from an impact and sustainability perspective, but is also part of ensuring a future-proof portfolio that is made up of high-quality assets in carefully selected regions. Real estate which meets tomorrow’s sustainability standards is therefore an integral part of a.s.r. real estate’s goal of investing for perpetual value.

If you would you like to know more about the ASR Dutch Science Park Fund, its impact or sustainability ambitions, please contact:

Luc Joosten
fund director
ASR Dutch Science Park Fund
M: +31 (0)6 83 64 81 85
E: luc.joosten@asr.nl

Olle Overbosch
fund manager
ASR Dutch Science Park Fund
T: +31 (0)6 30 50 68 41
E: olle.overbosch@asr.nl