Climate Action in Our Properties
As a real estate investor and developer, we influence energy consumption, material use, and the operation of the buildings we own and develop.
Our climate report forms the basis for our priorities and shows that emissions are linked both to our direct operations and to the value chain surrounding our properties. ReducingCO2 emissions and improving energy efficiency therefore require both improvements in our own operations and gradually strengthened collaboration with tenants and suppliers. We are developing our efforts as the data foundation is strengthened and documentation is expanded.
We transform commercial properties rather than tear them down
Our portfolio of commercial properties is based on our business model, which focuses on investing in existing properties with development potential rather than demolishing them and building new ones.
Many of the properties we purchase are often in poor technical and aesthetic condition. Through targeted efforts in energy retrofitting, technical upgrades, and architectural improvements, we transform them into modern and functional commercial properties.
Reusing and retrofitting existing buildings reduces the need for new materials and minimizes the embodiedcarbon footprint associated with new construction. In many cases, therefore, transformation is a more resource-efficient approach than demolition and reconstruction.
Energy-efficient operation of the existing portfolio
A significant portion of the reduction potential lies in our existing building stock. We are continuously working on energy retrofits to meet our goal of ensuring that our entire commercial portfolio achieves at least a B energy rating. The ongoing technical improvements and operational optimizations help reduce the property’s energy consumption andCO2 emissions, and these initiatives also have a positive impact on the well-being of our tenants’ employees.
The measures include, among other things:
- Upgrading of technical systems
- Optimizing ventilation and heating
- Replacement with more energy-efficient solutions
Energy labeling is used to document changes in a property's energy efficiency.
Case: Vallensbækvej 45, Brøndby – From energy rating D to A (2010)
The property at Vallensbækvej 45 in Brøndby comprises more than 3,500 m² of commercial space and, in 2016, had an energy rating of D with an estimated heat consumption of 214.10 MWh of district heating and annualCO2 emissions of 30.19 tons.
Following a targeted energy renovation, the building achieved an A2010 energy rating in 2023.
This has contributed to a reduction in estimated annual heat consumption to 176.34 MWh and a reduction in totalCO2 emissions to 25.15 tons (Note that these figures are estimates based on the energy prices used, including taxes, when calculating savings in the energy performance certificate report).
This corresponds to:
- approximately 18% lower heating requirements
- approximately 17% lower annualCO2 emissions
This improvement has been achieved through a number of measures, including:
- Replacement with new, energy-efficient windows
- New ventilation system throughout the building
- New radiators
- New domestic water circulation pump
- Complete LED lighting system with intelligent lighting control based on lighting calculations
This transformation illustrates how targeted energy retrofits in existing buildings can reduce energy consumption andCO2 emissions.
This case study primarily focuses on the building’s operational energy and technical systems. As such, it reflects only our efforts to reduce ourcarbon footprint, while reducing the climate impact of materials and promoting circular resource use remain areas for further development in our project and procurement practices.
Climate considerations in project development
Project development is an area where a low carbon footprint must be considered from the very beginning. This is a key focus area for us, and we have high ambitions—especially in the housing sector, where materials, energy consumption, and conditions for well-being are closely intertwined.
We operate based on our “process-with” perspective, in which we apply lessons learned from one project to the next. This means that we not only develop our own approach and tools, but also ensure that climate considerations—including embeddedCO2 and long-term operational efficiency—gradually become a natural part of the decision-making process.
New construction projects have a significant environmental impact, which is why we use LCA calculations and thoughtful material selection as early indicators. At the same time, we prioritize solutions that support low energy consumption during operation and long-term operational efficiency.
These insights are incorporated into our development processes and into our housing concept, Favn, where our goal is to combine a low environmental impact with quality and an environment where people thrive.
Below are examples of how climate considerations have been specifically incorporated into both residential and commercial projects.
Case: Construction of a residential property at Dybendalsvænget 3A, Høje Taastrup
On Dybendalsvænget in Høje Taastrup, we have developed and constructed a modern, approximately 10,600-square-meter office complex that brings together warehousing, logistics, and administration under one roof.
The property is DGNB Silver-certified, demonstrating sustainability across energy, materials, indoor climate, and process quality. This certification has provided us with concrete insights that strengthen our ongoing efforts to incorporate climate considerations into project development, and, not least, valuable experience with the DGNB certification process.
Following handover to the tenant, MTAB Danmark A/S, the property has been sold off as part of our portfolio strategy. Watch the video here for a detailed overview of the project and the process with DGNB.
Case Study: Ammendrup Park, Helsinge – Semi-detached Homes with a Low LCA
Ammendrup Park in Helsinge is a new residential area featuring townhouses and semi-detached homes for rent, and it is part of our housing concept, Favn. As part of the development of the residential area, semi-detached homes were constructed in collaboration with HusCompagniet and were ready for occupancy in 2024. LCA calculations for the semi-detached homes were performed in accordance with BR18, using a 50-year assessment period.
The results show a total climate impact of:
- 5.9 kgCO2-eq./m²/year (Area D – see LCA documentation)
- 5.8 kgCO2-eq./m²/year (Area D2 – see LCA documentation)
At the time of construction, the limit value was 12.0 kgCO₂-eq./m²/year and the low-emission class was 8.0. The semi-detached houses thus fall more than 50% below both the low-emission class in effect at the time and the stricter 2025 limit of 6.7 kgCO2-eq./m²/year for single-family homes, townhouses, row houses, and semi-detached houses.
These results have been achieved through careful material selection, a compact design, and a focus on energy-efficient operation.
Lessons Learned and Next Steps
Although the results are strong, the calculations also show that the construction phase andthe embeddedCO₂ in materials still hold potential. In future projects, we must work even more systematically with construction methods and materials that have a lower impact on the climate and the environment.
Scope 3 and prioritizing efforts
The vast majority—in fact, more than 90%—of our total carbon footprint falls under Scope 3. This includes indirect emissions that we do not control but that result from our activities. This includes, among other things, purchased goods and services, capital goods, fuel- and energy-related activities, and downstream leased assets—including tenants’ consumption of heat and electricity in buildings owned by Stensdal.
Scope 3 inherently involves a degree of complexity. Emissions depend on the choices and behaviors of both suppliers and tenants, and reducing them therefore requires a stronger data foundation and closer collaboration throughout the value chain over time. As part of this effort, we are working to strengthen responsible supplier management and clarify sustainability expectations in our collaboration with our partners.
We’re starting by putting our own house in order. That’s why we’re prioritizing reductions in Scope 1 and 2 emissions through technical improvements and energy-efficient operations—areas where we have direct control. These initiatives can often be implemented more quickly and generate momentum, while the more complex Scope 3 areas are being developed on an ongoing basis.
Climate action is therefore prioritized based on a balance between where the impact is greatest and where action is possible right now.
We are constantly learning and improving our ESG efforts
Climate action is not a linear process. It is an ongoing and iterative process in which we continually gain a better understanding of our focus areas and priorities from year to year.
We learn through concrete projects, LCA calculations, energy-efficiency improvements, and dialogue with tenants and suppliers, among other things. We actively use these experiences to adjust our requirements, choices, and priorities in future projects.
Data quality plays a central role. Over time, we are strengthening our recording and monitoring of consumption data, procurement, and materials so that decisions can be based more on documented facts rather than assumptions. We aim higher than the minimum requirements currently imposed on us, because a solid data foundation is essential for working purposefully toward our SBTi commitment and our ambition of net zero by 2050.
We are also aware that this work requires a balance. We must address the climate crisis we are facing right now, while at the same time ensuring a healthy and robust business in the long term. Investments in emissions reductions must therefore be both climate-responsible and commercially viable.
We don’t see it as an either/or situation. Rather, we view it as a discipline in which accountability and long-term value creation are closely intertwined.
Climate and nature go hand in hand
ReducingCO2 emissions is a central part of our ESG strategy, but it cannot stand alone. Buildings not only impact energy consumption and materials—they also affect the natural environment and ecosystems around them. That is why we are working in parallel to reduce our carbon footprint and enhance biodiversity in and around our properties.
Learn more about how we work with biodiversity in Stensdal.
