Danish pension fund, PKA, has announced a tightening of its climate requirements, with plans to halve the carbon footprint of its properties by the end of 2025.

As part of this, the group has set a number of new green targets, including in-house production of renewable energy for properties using solar cells and turbines, for a total of DKK 11bn.

It also highlighted the work already undertaken, noting that PKA advanced its climate investments in its properties by DKK 70m in 2020, with a further DKK 90m investment in energy projects made at the beginning of 2021.

Indeed, the fund confirmed that it has reduced the climate impact in its Danish properties by 85 per cent since 2008, with the plans for a new climate strategy expected to further reduce CO2 consumption in line with the 2025 target.

“Sustainability in construction plays a central role in the green transition," explained PKA portfolio manager, Peter Gravesen.

“That is why we at PKA have set new goals for sustainability in our portfolio. This applies to both energy efficiency and environmental certifications in current and future properties.

“It not only makes a contribution to a greener housing stock, but also a good return for our members, whose pension we manage.”

The group has worked with property management company, DEAS, to develop a model that integrates climate goals into property portfolios, resulting in more long-term energy and operating savings with less CO2 emissions.

Adding to this, DEAS energy manager, Hans Anderson, said: “We are very pleased with the close collaboration we have with PKA with a major sustainability goal in mind.

“Here we have combined the forces between an ambitious, green real estate investor and the knowledge and competencies that we as a real estate management company have at our disposal.

“It has provided an effective management tool and a sustainable model, which several companies are now adopting.”

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