Agore Properties Values Are Highlighted in Newly Published Sustainability Report
Agore Properties, which invests nationally in large and medium-sized cities in Finland, has published its 2022 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.
“The sustainability work has focused on three main aspects: climate change mitigation, sustainable business and active stakeholder engagement. Genuine sustainability can only be achieved through open and transparent cooperation between all stakeholders. We have systematically taken this work forward. Energy optimization has been one of the key areas of development. In 2022, we succeeded in reducing the energy consumption of our assets by 9.3% and, as a result, the CO2 emissions of our assets were reduced by 53.6%. We consider this to be the most significant achievement in Agore Properties’ work to mitigate climate change”, says Hannu Tamminen, Trevian’s Head of Technical Management.
Continued emphasis on stakeholder work
Multi-channel stakeholder work is seen as a prerequisite for business development, and Agore has invested heavily in this over the past year. We consider the tenants of our properties to be our most important stakeholders and we want to create the best conditions for them to implement responsible business practices. We measure tenant satisfaction through an annual tenant satisfaction survey and the Net Promoter Score, a measure of tenant satisfaction, has increased 20-fold over the last four years. We are particularly pleased with this development and see that long-term cooperation with our tenants is paying off.
“This shows that our staff is truly present in each property, listening to tenants’ needs and closely monitoring the market outlook – also in terms of sustainability,” says Minna Jussila, Trevian’s CFO.
Agore also launched customer satisfaction surveys last year, which will be conducted annually in the future. In addition to developing and measuring the customer experience, the surveys will map customers’ perceptions of the importance of sustainability and monitor the visibility of sustainability to customers down to the point on a site-by-site basis. Environmental values are clearly increasing in decisions to purchase services and products and their enabling at Agore is seen as a necessity for the future.
“The information from both tenant and customer satisfaction surveys is valuable to us, so that the transparency of responsible operations reaches the entire operating chain, and the information helps us to develop our operations even better,” Jussila continues.
Social and societal responsibility is further enhanced
A total of 75 acts of societal and social responsibility were carried out at Agore properties. Each property supports a different organization annually, either by facilitating collections or by donating its premises for use by the organization. The aid is targeted each year regularly and locally, for example to families in need, lonely elderly people, schoolchildren or to support sports. In addition, efforts are made to help those in acute need, such as those fleeing the war in Ukraine. Agore is also committed to raising the profile of important issues and to demonstrating support, for example by raising awareness through its participation in the ‘Down a Degree’ campaign, which was visible in a variety of ways on the ground locally.
Close local cooperation with a variety of businesses, educational institutions and cities is a hallmark of Agore’s work. Examples include the Poppari youth shelter in Revontuli, Rovaniemi, the involvement of secondary school students in the activities of a shopping centre in Chydenia, Kokkola, and numerous free art exhibitions in Tullintori, Tampere. Various stakeholders, partners and customers are involved in development projects to ensure that properties in core centres enables the revitalization of city centres, which is meaningful and vital to everyone in different ways.
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.
Trevian Asset Management is a Finnish investment and asset management company specializing in commercial and residential properties. The company produces actively managed real estate equity funds and asset management services optimized for its customers. The services are focused especially for institutional real estate investors, banks, and other professional investors. Trevian’s assets under management near 1.2B€ www.trevian.fi/en