Other sustainability information
Working on demonstrably climate-neutral operations
We are reducing our environmental impact by cutting back on our energy consumption, making fewer business-related trips, and recycling our waste. We will increase the use of renewable sources. Finally, we are compensating unavoidable emissions. In 2020, we adopted policies and measures to reduce the emissions that still need to be compensated to a negligible level by 2030.
Carbon emissions from operations
We measure the carbon footprint of energy consumption, mobility, refrigerant leakages, and waste. In 2021, APG’s gross CO2 emissions amounted to 7,218 metric kilotons (8,173 metric kilotons in 2020). This is equivalent to 2.4 kg per FTE (2.8 kg per FTE in 2020). Because we use renewable resources, our net CO2 emissions are less. APG’s net CO2 emissions in scopes 1 and 2 are subsequently compensated through the purchase of Gold Standard certificates.
In conformity with the Greenhouse Gas Protocol (GHG Protocol), the carbon footprint is expressed in terms of various “scopes.” Scope 1 emissions are direct emissions from sources owned or controlled by APG. Scope 2 emissions are indirect emissions generated by purchased energy. In accordance with the CO2 performance ladder manual, business trips with private cars and business flights are also taken into account when calculating the scope 2 emissions. Scope 3 emissions are all relevant indirect emissions (not included in scope 2) which occur in APG’s value chain. This refers for example to the carbon footprint of staff commutes.
APG charts the carbon footprint of the investment categories Shares, Corporate Bonds, Property and Private Equity. This is reported on each year in the Responsible Investment Report in accordance with the recommendations of the Taskforce on Climate-related Financial Disclosures and the methodologies used by the Partnership for Carbon Accounting Financials (PCAF) in respect of corporate investments and the Global Real Estate Sustainability Benchmark (GRESB) with respect to property investments.
Since March 18, 2020, virtually all Dutch staff have been working from home due to the COVID-19 restrictions. These restrictions have had the following effect on APG’s CO2 emissions:
- The drop in our CO2 emissions was mainly the result of the decrease in emissions caused by sharply reduced mobility.
- However, no major reduction in energy consumption was apparent because the buildings were still being heated/cooled for the staff who continued working there. These numbered some 100 employees who were present all the time, more or less all over the premises.
These factors resulted in an increase in energy emissions (gas and electricity) relative to the total emissions.
Methods for measuring CO2 emissions
APG bases most of the conversion factors on the “List of emission factors” published on www.CO2emissiefactoren.nl. In the Netherlands, APG uses green energy for its operations. This origin and source of this green energy, which is guaranteed by means of Guarantees of Origin (GOs), is European wind. When calculating the net scope 2 CO2 emissions, this energy is given an emission factor of zero. The emission figure related to commuting is an estimate. It is based on the commuting allowance the staff receives and the assumption that employees who receive a commuting allowance and who live more than 7 miles from work will commute by car. Because the commuting allowance continued to be paid during the period when staff worked from home, as from March 18, 2020, this would create a distorted picture of the emissions. It was therefore assumed, on the basis of attendance records, which commuting declined by 97.5% as from Q2.
The CO2 emissions were measured for APG Group.
Energy consumption of our premises
We use the Carbon Risk Real Estate Monitor (CRREM) methodology to obtain insight in the intensity of energy and greenhouse gases (GHG). In this context, energy consumption and, in the case of GHG, refrigerant leakages as well, are divided by the leased floor area. We want our business premises to remain below the 1.5-degree pathway of Paris and aim to achieve the 2050 goal earlier.
In 2021 we found that the GHG-intensity of our Dutch business premises in the years 2019 and 2020 had not been correctly calculated, because no account had been taken of the fact that our Dutch business premises are powered by green energy. This is guaranteed by Guarantees of Origin for European wind.
| Energy intensity in kWh/m2/year | 2018 | 2019 | 2020 | 2020 target 1.5-degree pathway | 2050 target 1.5-degree pathway | |
| Netherlands | Heerlen | 258 | 217 | 248 | 220.8 | 13.3 |
| Symphony | 95 | 67 | 74 | 220.8 | 13.3 | |
| Basisweg 30 | 261 | 203 | 205 | 220.8 | 13.3 | |
| US | New York | - | - | - | 275.7 | 12.1 |
| China | Hong Kong | 102 | 120 | 140 | 278.3 | 5.1 |
| GHG-intensity in kgCO2e/m2/year | 2018 | 2019 | 2020 | 2020 target 1.5-degree pathway | 2050 target 1.5-degree pathway | |
| Netherlands | Heerlen | 12 | 11 | 16 | 97.9 | 2.7 |
| Symphony | 4 | 3 | 5 | 97.9 | 2.7 | |
| Basisweg 30 | 31 | 27 | 28 | 97.9 | 2.7 | |
| US | New York | - | - | - | 73.7 | 2.8 |
| China | Hong Kong | 56 | 66 | 78 | 224.6 | 3 |
Separate waste collection
APG wants to reduce the residual waste it produces to no more than 10% in 2022 and to virtually 0% in 2030. In 2021, residual waste made up 18% of total waste (42% in 2020). This is equivalent to 9.3 kg of residual waste per FTE (7.8 kg of residual waste per FTE in 2020). The increase in 2021 relative to 2020 is due primarily to clearing out the former offices in Amsterdam. The resulting waste was for the most part disposed of separately.