AXA Real Estate reduced the overall gas and electricity consumption of 51 of its key properties in the UK by 21% in 2011, according to the firm's 2011-2012 Sustainable Development Report. The reduction was achieved with virtually no additional capital expenditure, as a result of the installation of smart meters in 2010, AXA RE said.
AXA Real Estate reduced the overall gas and electricity consumption of 51 of its key properties in the UK by 21% in 2011, according to the firm's 2011-2012 Sustainable Development Report. The reduction was achieved with virtually no additional capital expenditure, as a result of the installation of smart meters in 2010, AXA RE said.
About 90% of the retail assets under management in the UK are equipped with smart meters, as are 60% of the office assets in France. Also in France, 47% of the newly leased office buildings and 42% of the newly leased logistics buildings in 2011 have a green lease.
Jean-Francois Le Teno, global head of sustainable development at AXA Real Estate, commented: '2011 has been an excellent year of progress in our commitment to sustainability and our efforts to shape progress on this important issue with all participants in the sector. Over the year, sustainability has come to increasingly influence not only our investment decisions but also our day-to-day asset management activities.'
AXA Real Estate is the largest real estate portfolio and asset manager in Europe, with EUR 42 bn of assets under management as of March 2012.
