Sustainability efforts and commitments

Responsible agent of societal progress

As a responsible agent of societal progress, Castellum will be part of driving this development forward. Castellum regards the precautionary principle and society’s requirements under laws and regulations as minimum requirements, and strives for continual improvements for the purpose of promoting sustainable development.

Attitude to climate change and the planet’s limits

Castellum acknowledges the scientific evidence that human activity is accelerating climate change. Overstepping the planet’s limits

involves great risk for our future. To promote a global agenda, Castellum must therefore govern its operations and set goals in line with the UN’s Sustainable Development Goals and the Paris Agreement. To future-proof Castellum’s portfolio, buildings will be made more energy-efficient, life cycle perspectives will be taken into account in investments, responsibility for natural resources and biological diversity will be assumed, the share of renewable energy will be increased and operations will be adapted to climate change. Castellum will be involved in the climate plans and policies of its customers and of government agencies, it will display leadership and to the greatest extent possible will inspire the industry toward a greener approach.

Castellum regards the impact of a changed climate as a significant risk that over the long term constitutes a risk to our operations, our properties and our tenants. If extreme weather arises – floods or heavy rains, for example – it causes damage and disruptions in several ways: directly to the property or neighbouring infrastructure (e.g. electrical outages, waste water backing up out of drains, or disruptions to public transportation to and from our properties). Therefore, Castellum has implemented specific risk analysis processes for all investments in order to take into account such climate risks as the risk of flooding, land erosion and vulnerability to extreme weather.

The Science Based Targets Initiative (SBT) is a collaboration between the Carbon Disclosure Project (CDP), the UN, the World Resource Initiative (WRI) and the World Wildlife Fund (WWF). The purpose of the SBT is to guide companies across the globe in defining carbon emissions and in establishing scientifically correct objectives in line with the goals of the Paris Agreement on reducing global warming.

Castellum is the first property company in the Nordic region to have its climate targets approved by SBT. Castellum’s target is to achieve 100% climate neutrality in its operations by 2030, thereby supporting the UN’s climate agreement and the national ambition for a fossil fuel-free Sweden.

Castellum’s strategy for reducing its environmental impact focuses on several areas, including:

  • Converting to 100% renewable energy
  • Reducing energy consumption in our properties.
  • Converting to a fossil fuel-free vehicle fleet by 2020
  • Orientation toward reduced climate impact in developments

To achieve properly functional sustainability initiatives, Castellum will:

Overall

  • Govern its operations in line with the UN Sustainable Development Goals.
  • Comply with Castellum’s Code of Conduct, which is built on the UN Global Compact. All Castellum’s employees and partners must understand and comply with their respective Codes of Conduct.
  • Continually increase competence in sustainability through education and communication of sustainability issues.
  • Routinely monitor, report on and improve our sustainability efforts.

Ecological sustainability

  • Minimise carbon emissions in Scopes 1, 2 and 3 (refer to pages 52–54), which promote global warming.
  • Use natural resources responsibly and efficiently so as not to jeopardise the planet’s limits, and thus our climate and the opportunities for future generations in a finite world.
  • Build and manage from a service life perspective, and promote circular models.
  • Promote increased biological diversity and limit the use and spread of environmentally hazardous products.
  • All properties held for more than one year are to be environmentally inventoried, and these will be updated at least every ten years.
  • Create conditions for responsible waste management through minimising waste, guarding against pollutants and regarding waste as a resource for reuse and recycling.

Social sustainability

  • Offer comfortable, healthy environments for people in and around our properties and for our employees’ well-being.
  • Create an equitable organisation with a diversity reflecting the composition of society.
  • Contribute to employment and young people’s opportunities to enter the labour market.
  • Engage in issues that are significant for societal development.
  • Call attention to and change discriminatory structures in the organisation.
  • Be an attractive employer and attract the best and most professional employees.

Financial sustainability

  • Maintain long-term, sustainable financial growth in cash flows.
  • Create business models for collaboration regarding sustainable investments.
  • Maintain low financial and operational risk for a strong increase in value in the company while offering shareholders a competitive dividend.
  • Use financial and human capital efficiently.