CapMan starts energy savings initiative

October 4, 2022

CapMan press release
4 October 2022 at 09.30 EEST

CapMan starts energy savings initiative

CapMan starts energy savings initiative during heating season. As we are facing an energy crisis, we want to do our part in making sure there is enough energy for us all. The energy savings initiative includes CapMan Group largest offices as well as applicable CapMan Real Estate retail and office buildings, which in 2021 consumed a total of approx. 16 700 MWh* in heating energy. A one-degree temperature reduction would on an annual level translate to an energy use reduction equivalent of heating almost 100 average four person homes in Finland.

“At CapMan we are guided by our mission to build value for the enrichment of society. In this current energy crisis, we all need to do our part. That is why we are starting this initiative. By the simple act of turning down the temperature one degree we can lower the heating energy use in our offices and applicable assets by 5% on average. This is a concrete way that we can make a difference, and hopefully inspire others to do what they can as well”, shares Joakim Frimodig, CEO at CapMan.

As part of the initiative the temperature is lowered by on average one degree at CapMan offices in Finland, Sweden and Denmark, starting November 1st. Employees and partners are also encouraged to participate in the initiative by taking into account day-to-day energy saving routines.

Further, CapMan Real Estate is lowering the temperature by one degree on average at applicable** retail and office buildings, while ensuring the health and safety of the premises keeping the temperature within permitted limits, starting October 1st. CapMan Real Estate also encourages its tenants to participate in the initiative by taking daily energy saving measures into account.

“This energy savings initiative builds on our ongoing efforts to decrease the energy intensity of our assets. The building industry is responsible for approx. 40% of global CO2 emissions, of which 72% comes from energy consumption during building use.*** We actively monitor and manage the energy consumption of our assets and are currently in the process of defining Science Based Targets aligned carbon reduction targets, based on which further energy efficiency measures are considered”, comments Anna Rannisto, ESG Manager at CapMan Real Estate.

CapMan monitors the impact of the measures taken during the initiative on energy consumption and energy efficiency and reports the effects as part of its Sustainability Report to be published in 2023.

*Excluding buildings under renovation in 2021.

**CapMan Real Estate properties under full control and management, whose technical characteristics and lease terms allow for a decrease in temperature. We follow the classification of a good and healthy indoor climate during the initiative, and we reduce the temperature within the permitted limits. In co-owned properties, we strive to achieve similar energy measures in cooperation with partners.

*** World Green Building Council, https://www.worldgbc.org/embodied-carbon

For more information, please contact:

Anna Rannisto, ESG Manager, CapMan Real Estate, tel. +358 40 6266 383

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With over 4.8 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We have been listed on the Nasdaq Helsinki since 2001. Read more at www.capman.com.