- The Office Property Investment division has reduced its GHG emissions by 27% since 2015
- +16,000 tonnes of CO2 offset in 2020, higher carbon offsetting goals set in 2021
- Ramping up low-carbon contruction by launching Urbain des Bois
- €2.5m per year allocated to a Climate Fund
"Designing, building, managing, and investing in projects with a reduced carbon footprint" -less than one year after including its Purpose in the preamble of its Articles of Association, Icade is setting the bar higher by reinforcing its carbon reduction commitments.
Icade has been a pioneer in low-carbon real estate for the past 15 years. It was the first property investment company in France to receive HQE Construction certification for a private service sector building in 2005 and the E+C- label for an office building in 2017.
The Company has made low carbon a strategic priority since 2018.
Learn more about the infographic.
In 2021, through four additional commitments, the whole Company is involved in the Low Carbon by Icade strategy
1. Much highers goals for reducing greenhouse gas emissions
- Property Develpment: 100% of offices over 5,000 sq.m and 50% of homes to obtain the E+C- label with an E2C1 rating by 2022
- Office Property Investment: A -45% reduction in carbon intensity between 2015 and 2025 (kg CO2/sq.m/year), already in line with a 1.5°C pathway
- Healthcare Property Investment: 100% of new builds over 4,000 sq.m to obtain HQE certification
- Corporate : Setting an example and reducing and offsetting its carbon footprint by getting employees involved.
2. An ambitious and responsible carbon offsetting policy
In addition to its carbon reduction efforts, Icade has implemented a policy to offset its residual emissions locally solely for its operations already in line with a 1.5°C pathway.
For this purpose, two partners with projects meeting the highest standards have been carfully selected:
- Stock CO2: Emanating from Icade's start-up studio Urban Odyssey, this young company is dedicated to carbon offsetting in France. It is the intermediary between companies seeking to offset their carbon footprint and managers of projects bearing the Low-Carbon Label in France.
- Société Forestière: A company specialising in forest management and forestry solutions in France, it works alonside Icade as a manager of forestry projects with the Low-Carbon Label.
Icade started financing afforestation and reforestation projects bearing the Low-Carbon Label in France in 2020. It aims to offset the annual residual emissions of the Office Property Investment Division and the buildings occupied by Icade's employees in the Paris region, i.e. 16,000 tonnes of CO2.
3. Low-carbon construction ramped up
Creation of « Urbain des bois », a residential property development subsidiary of Icade Promotion specialised in timber and customised construction. It aims to generate revenue of €100m by 2025.
100% of our office projects will obtain the E+C- label (or equivalent).
4. Increased funding: creation of a dedicated Climate Fund
With €2.5m to draw on starting in 2021, this fund will finance:
- Low-carbon solutions that are innovative, sustainable and replicable for all our projects
- Customer and pilot project assistance
- Carbon offset projects in France with the Low-Carbon Label
Wood’Art in Montpellier, timber construction, 10 floors, E3C2 label
PULSE in Saint-Denis, 1 108 kg CO2/sq.m, 20,000 sq.m of raised access flooring from re-used materials
Greater Narbonne private hospital, HQE-certified with an Excellent rating
Working with stakeholders to bring about permanent change
Home buyers, office tenants, and healthcare facility operators: Icade involves and supports all its customers through awareness initiatives, tailored solutions, best practice guidelines and dedicated committees.
For example, Icade has innovated by developing the new Naturellement chez soi housing solution. Designed for future home owners, it also includes a low-carbon component.
Icade alse gets its employees involved through awareness raising and training and its suppliers by including CSR criteria in its requests for quotation.