Our ESG Ambitions

Elfi's sustainability plans encompass what we aim to achieve and how we intend to measure it across various areas of sustainability.

We aim to operate as an organization with a focus on tenants, and we consider environmental aspects essential to how we conduct business. Sustainability is integrated into what we do, but we do not have a sustainable investment objective. With this approach, we aim to reduce sustainability risks that negatively impact the environment and the value of our investments. Additionally, we seek to capitalize on the opportunities that ESG offers to strengthen our real estate portfolio.

ESG Strategy Implementation
In 2023, Elfi developed its ESG strategy. This year, Elfi will begin reporting its ESG goals. In our reports, we will present the following statistics:

Environment

Total energy consumption in kWh per year
Energy consumption intensity in kWh/m2
Greenhouse gas intensity (GHG) in kgCO2e/m2
Percentage of homes with energy labels
Total water consumption in m3 per year
Water consumption intensity in m3 per m2

Social

Tenant satisfaction expressed in an NPS score
Percentage of tenants in affordable housing

Governance

Percentage of projects in line with the Elfi Sustainability Guidelines
Percentage of contractors applying OECD guidelines

Sustainability Anchored in Our Decision-Making Process
Every investment proposal, development project report, and quarterly real estate management report includes an ESG section. This section contains relevant ESG information according to our ESG strategy and policy guidelines, such as performances in Almost Energy Neutral Building (BENG) standards and assessments of the fairness and affordability of the real estate for tenants.

In Elfi's investment committee, all material proposals for investments and divestments are discussed, involving both Elfi's board and the ESG working group. These proposals are supported by staff and external consultant analyses. If an investment does not align with Elfi's ESG strategy and policy, it is considered a sustainability risk. In such cases, an action plan is required to mitigate the risks before the investment can proceed.