Agore Properties continues progress through its core values in newly published Sustainability Report
Agore Properties, which invests in commercial real estate assets nationally in large and medium-sized cities in Finland, has published its 2023 Sustainability Report. The report covers the property portfolio owned by its three owners: the Mutual Pension Insurance Company Elo, the Swedish National Pension Fund Första AP-fonden, and Trevian Asset Management. The portfolio is managed by Trevian. Agore’s core values of quality, sustainability, and local cooperation have been the cornerstones of the work behind the report.
For Agore, the sustainability report is an important means of sharing information on sustainability more transparently.
– Data collection is important in sustainability work; it allows us to measure and track our progress towards sustainable goals. By collecting data on various sustainability indicators, such as energy consumption, greenhouse gas emissions, and waste recycling, we can identify areas where we need to improve and track the effectiveness of our efforts over time. Data collection also enables us to make informed decisions about allocating resources and prioritizing actions to achieve the greatest impact. Additionally, data can be used to communicate our progress to stakeholders and demonstrate our commitment to sustainability, says Minna Jussila, CFO of Trevian.
In 2023, Agore has made significant progress in reducing the portfolio’s carbon footprint. Additionally, energy consumption has decreased compared to the previous year.
– I am happy that Trevian's technical team has succeeded in enabling us to access comprehensive and versatile real estate data to report the progress under the GRI standards, CFO Jussila adds.
Furthermore, Agore’s active asset management operations strive to improve the vitality of city centres. Agore's occupancy rate at the end of the year was at an all-time high, over 93%. Last year, tenant sales and shopping centre visitor numbers developed very positively. Tenant satisfaction has also increased similarly in recent years.
– We strive to offer urban living rooms and comfortable working spaces through modern, suitable, inclusive, and functional retail and office premises that reflect the values of Agore, says Agore Portfolio Manager Anni Tenhunen from Trevian.
– Sustainability is increasingly important for our tenants and their customers. Tenants are at the heart of our stakeholder engagement. We consider high tenant satisfaction to be a matter of honour. We want to provide our tenants with attractive spaces close to city centres, Tenhunen continues.
Year after year, the importance of sustainability has grown increasingly prominent, and it is set to continue in the future. In 2024, Agore will:
- continue actively prioritize sustainability, as it is a continuous journey
- certify 3 properties, representing 50% of the property portfolio value.
In the coming years, Agore plans to invest further in energy efficiency.
Agore is not a listed company and does not report its financial performance; this report concentrates on environmental and social aspects.
This sustainability report is available only in digital format.
If you have any questions regarding our sustainability report or its content, please contact us through info@trevian.fi.
Agore Properties was founded in 2017 and is a fully Nordic-owned real estate investment company. The Agore portfolio currently consists of properties in 8 cities around Finland. The total value of the portfolio is approximately EUR 200 million. Agore is committed to responsible real estate business and targets quality and sustainability in the development of its own operations. Close local collaboration is a hallmark of Agore activities, contributing to the goal of keeping city centers lively and vibrant. www.agore.fi/en/agore
Trevian Asset Management is a Finnish real estate investment and asset management company focused on commercial and residential real estate, owned by its key personnel. We offer full-service asset management and structured investment services throughout the whole investment lifecycle. The services are focused especially for institutional real estate investors, banks, and other professional investors. Trevian’s assets under management is 1.2B€. www.trevian.fi/en
