Aware of the importance of integrating the sustainability challenges more and more into the Company’s strategy, Ascencio has built its ESG policy around its 3 constituent pillars, namely the environmental, social and governance aspects of its activities.
More specifically, as a Listed Real Estate Company active in retail, Ascencio defines its ESG strategy with the objective of improving the sustainability of its real estate portfolio, operations and activities.
To do so, Ascencio takes into account the challenges and expectations of its various stakeholders thanks to its positioning close to its market, the local communities where the Company operates, and its employees.
United Nations sustainable development Goals
In 2015, the United Nations set out sustainable development goals to communicate the way forward to a better and more sustainable future for all.
Some of these objectives have particularly caught Ascencio’s attention and have been selected as pillars for the development of its ESG strategy.
Fighting hunger
Eradicate hunger, ensure food security, improve nutrition and promote sustainable agriculture.
Access to health
Enable everyone to live in good health and promote the well-being of all and at all ages.
Access to quality education
Ensure equal access to quality education for all and promote lifelong learning opportunities.
Use of renewable energy
Ensuring access for all to reliable, sustainable and modern energy services at an affordable cost.
Responsible consumption
Establishing sustainable consumption and production patterns.
Fighting climate change
Take urgent actions to fight climate change and its impacts.
Ascencio’s ASG strategy
- Certification
- Decision-making criteria
- Database & management platform
- Optimising energy performance
- Photovoltaic panels
- Charging stations
- Supplier & tenants charters
- Evaluation & training
- Internal satisfaction survey
- Homeworking & positive office
- Mobility
- Social & philanthropic policy
- Governance structure &
- Communication of ESG standards
- Digitalisation
Environmental component
1. Certification
Ascencio has begun the process of certifying its retail parks. More specifically, Ascencio has set itself the objective of obtaining BREEAM in-use1 very good label for 6 (2 in Belgium and 4 in France) retail parks in its portfolio by 2026.
Over the past financial year, the retail parks of Genval and Couillet in Belgium and Caen in France underwent an initial assessment, and investment programmes were identified with a view to achieving the required certification. The works will begin in 2024.
BREEAM In-Use is a sustainability standard that applies to existing buildings. The objectives behind obtaining such certification are multiple: to be part of a sustainable development approach, to reduce operating costs, to increase the loyalty of Ascencio’s retail customers, to promote the Company’s assets, to access sources of green finance, etc.
1. BREEAM in-use is an international method of assessing the environmental performance of a building in use.
2. Decision-making criteria
Within the framework of its investment policy and the transformation and management of its real estate portfolio, Ascencio aims to optimise the environmental performance of its assets. For the existing portfolio, Ascencio has developed a new asset classification table that now takes ESG aspects into account. In the case of new acquisitions, assets with BREEAM very good certification will be preferred.
3. DATABASE& MANAGEMENT PLATFORM
In order to reduce the energy consumption linked to the use of its buildings, Ascencio has created a partnership, starting with its French portfolio, with its tenants in order to encourage the exchange of consumption data and has implemented specific software to analyse this data.
At the end of 2022/2023 financial year, 92% of the data has been obtained for the French portfolio, while data for the Belgian portfolio is currently being collected.
Together, Ascencio and its retail tenants are discussing and will continue to discuss possible improvements in order to achieve the desired objectives.
The systematic recording and analysis of these measurements will provide the Company with a more objective view of the energy performance of its buildings. This comprehensive audit and the monitoring of this performance over time will enable Ascencio to establish a comprehensive action plan to reduce the carbon footprint of its portfolio over time while prioritising its investments, and to produce the necessary reports illustrating the progress made in environmental performance.
4. OPTIMISING ENERGY PERFORMANCE
Ascencio is committed, for all its renovation / extension projects, to optimise the energy consumption of the buildings concerned, in line with its ESG strategy & the legal obligations in this area. In the 2022/2023 financial year, Ascencio renovated roofs with a surface area of about 4,500 m2. In addition to replacing the waterproofing membrane, the works improved the level of thermal insulation of these roofs, reducing the energy costs (heating/cooling) of the retailers concerned.
5. PHOTOVOLTAIC PANELS
Ascencio intends to deploy a structured policy of placing photovoltaic panels on the roofs of its real estate portfolio. Technical audits have been carried out for a series of buildings and are in progress for others.
The installation of photovoltaic panels will enable the production of locally produced green electricity that can be used in the buildings concerned for the benefit of tenants, at stable cost levels that protect retailers against price variations that are difficult to absorb.
During the past financial year, calls for tenders were issued for the installation of photovoltaic roof panels for Belgium and shade canopies for the car parks of the portfolio assets for France.
6. CHARGING STATIONS
Ascencio has started to install charging stations for electric vehicles in the car parks of its retail parks (Messancy (B) in Belgium and Saint-Aunès (C) in France) and at its head office in Gosselies (B) (in Belgium).
Ascencio has also signed a partnership agreement with the company Powerdot, under which the latter undertakes to install almost 260 fast charging points for electric vehicles in the car parks of its French assets. These facilities will further enhance the attractiveness of the sites in question by making them hubs for electromobility, offering a complementary service to consumers and local communities. In parallel, the Company is working on a project to install charging points for its Belgian portfolio based on a similar collaborative model.
7. SUPPLIER & TENANT CHARTERS
Ascencio has included in its new leases an environmental appendix (“Green Lease”) aimed at promoting collaboration between lessor and lessee in the gradual reduction of the environmental footprint of leased buildings, while optimising costs. It focuses on efficient environmental and energy management, involving the sharing of data on energy and water consumption, as well as relevant information to continuously improve environmental performance. The lessee is encouraged to adopt energy efficiency practices, including switching off unused appliances, raising staff awareness of reducing energy consumption, and favouring the purchase of green energy. Specific guidelines are provided for the optimisation of technical installations, lighting, heating, cooling, ventilation, and the choice of environmentally friendly materials. Measures are also recommended for the efficient management of water and waste, encouraging recycling and the use of eco-friendly materials. The section on sustainable transport favours alternative modes of transport. Finally, guidelines are included for well-being and health, as well as for environmental certification, highlighting the importance of cooperation between lessor and lessee in maintaining and improving the environmental efficiency of buildings.
” The partnership between Ascencio and Powerdot is a fine example of a win-win-win project within Ascencio’s ESG strategy. As a specialist of car charging installation in the retail sector, Powerdot can enhance the attractiveness of Ascencio’s sites by offering, in addition to the charging of electric vehicles, opportunities to interact with retailers to attract more customers and strengthen their brand image.” ― Bernard Sergeant, Director Operations & ESG
Social dimension
1. EVALUATION & TRAINING
Ascencio has developed a corporate culture in which each employee receives annual feedback from his or her manager on the work done and the skills developed over the past year.
By 2023, 100% of the employees have received a performance evaluation.
Ascencio also pays particular attention to the constant development of its teams.
More concretely, this translates into:
• An Ascencio Academy
The Ascencio Academy consists of a series of in-house training sessions aimed at the team as a whole and delivered, in turn, by the members of the executive committee.
In practical terms, these training sessions take place approximately every 2 months and cover specific topics internal to the Company or the market.
he aim of this initiative is to develop the teams in terms of their own knowledge and personal motivation and also the Company as a whole.
• An in-house buddy system
Based on the “live my life” principle, individual support was put in place during the 2022/2023 financial year with the aim of improving inter-departmental knowledge. In the buddy system, each member of the executive committee will be accompanied for one day by an employee who is not already a member of his or her team.
This initiative, which is very promising at the level of the teams, will be repeated in the next financial year.
• Participation in ad hoc external training
Based on individual needs expressed during annual assessments or identified by managers, an individual training plan is formulated on an annual basis.
In addition, more targeted training has also been organised, such as workplace safety training (first aid training and training in the use of a defibrillator) and the Communication Process (aimed at improving communication techniques and tools in professional relations).
Lastly, Ascencio would like all its employees to be able, in the long term, to express themselves easily in English in writing, so it will organise the necessary training for those who need it
At the same time, Ascencio is committed to supporting certain external collaborators with their education. During the past financial year, Ascencio hosted a trainee in a company. Through this type of initiative, the Company enables students to be confronted with the business world and thus be better prepared for it at the end of their studies. This project resulted in the successful
completion of the student’s education and the start of her professional career with a permanent contract in a local company.
2. INTERNAL SATISFACTION SURVEY
During the 2022/2023 financial year, Ascencio conducted various surveys of its employees on different topics such as housing, the digitisation project, etc. The Company is keen to regularly consult the entire team on cross-cutting projects and topics of this type in order to improve satisfaction and involvement in the workplace.
3. HOMEWORKING AND POSITIVE OFFICE GOOD HEALTH AND WELL-BEING
Ascencio continues to aim to achieve a balance between teleworking and office attendance by being attentive to the equipment required for teleworking under the best possible conditions, but also by allowing fixed working days at the Company’s office to maintain professional and social links between employees. At the same time, the Company has begun a project to remodel its offices in line with the positive office approach, promoting flexibility, creativity and well-being at work. Ascencio has finalised plans for the design and redevelopment of its new offices, with work due to start in early 2024. This renovation work will take into account environmental issues by using recycled or low-impact materials as much as possible. In addition, the existing HVAC facilities will be completely renovated to improve the building’s energy performance and reduce the Company’s carbon footprint. In this context, an in-depth and comprehensive consideration of ergonomics at work is also planned.
4. MOBILITY
Ascencio is continuing the transition of its vehicle fleet to electromobility, with 50% of the fleet now hybrid or electric.
Charging solutions are planned both at the Company’s registered office and at the home of the employees concerned.
5. SOCIAL AND PHILANTHROPIC POLICY
Ascencio has decided to orient its social and philanthropic policy in the following areas:
• Well-being, with a particular focus on sport for local communities;
• Fighting against hunger in local communities.
Various initiatives are carried out both at the level of the portfolio’s retail parks and at the corporate level with the entire Ascencio team.
In terms of promoting sport, a number of events aimed at promoting sport in local communities were organised within the portfolio, while the Ascencio staff team took part in various sporting events.
In terms of fighting against hunger, Ascencio has chosen to support the association “La Faim du mois” (https:// www.facebook.com/lafaimdumois/) by offering employees’ time to prepare and distribute meals and food parcels.
At the asset level, the initiatives will create value in the short, medium and long term, ensuring that the retail parks have a certain legitimacy within the local communities.
Corporate governance component
GOVERNANCE STRUCTURE AND COMMUNICATION OF ESG STANDARDS
As a B-REIT, Ascencio carries out an annual exercise of strict reporting and adheres to high standards in terms of corporate governance (see 2022 annual report pages 62 to 82). In addition, in order to support the development and implementation of its ESG policy, Ascencio appointed a head of “Operations & ESG” to its executive committee during the previous financial year.
Ascencio’s desire to develop the environmental management of its portfolio has already been illustrated by the publication of a report on various performance indicators on the ESG aspects of its activity according to the EPRA sBPR guidelines. (See pages 132 to 152 of this annual report). The Sustainability Report published in June 2023 aimed at creating transparency in the ESG initiatives already taken by the Company, enabled Ascencio to obtain a Gold award. This award is given by EPRA, the European Public Real Estate Association.
DIGITALISATION
Lastly, in order to promote the integration and digitalisation of its internal processes and to support the deployment of its ESG policy, Ascencio has, over the past year, accelerated the internal digitalisation process of its activities. This process, initiated during the previous financial year, aims to review all the Company’s internal management systems to make the organisation more efficient and agile, enabling the Company to better meet the challenges of tomorrow.
After evaluating the market, Ascencio selected Easi’s Adfinity tool and began implementing it for the integrated management of its property and financial activities. This project, called “Connect” and scheduled to go live at the end of 2023, has involved the active participation of employees and will bring even greater cross-functionality between the Company’s various businesses.
” Adfinity offers an integrated real estate and financial management activities. Benefiting from a central tool dynamic and user-friendly will bring even greater efficiency in our day-to-day and will enable Ascencio greater agility in the pursuit of its development.” ― Cédric Biquet, Chief Financial Officer
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