Climate change and GHG

The United Nations Environmental Program (UNEP) published that built infrastructure and particularly buildings account for 1/3 of total global emissions. Buildings are FUNOs business core and we understand the social responsibility we have to measure, reduce and mitigate our emissions.

Our Strategy

According to another United Nations report, at least 30% of energy consumption is wasted by inefficiencies. Henceforth we have decided to focus on energy efficiency in our estates and to make this our main sustainability priority and objective.

We believe, this objective not only benefits society and our finances; our effort must go beyond eco-efficient technologies and we strive to generate cultural changes within the organization, to achieve long lasting results.

Since 2016, we began to measure and monitor our electricity, fossil fuel and refrigerant consumption, as well as business travels; in order to determine our most important emission sources.

Emission sources

At FUNO we have identified our main emission sources:

  1. Electricity consumed in our estates.
  2. Those derived from our cooling, refrigerating and heating systems.
  3. Energy sources (usually fossil fuels) for our emergency plants.
  4. Business travels and employee commuting.
  5. Those derived from our isolating materials.
  6. Those resulting from manufacturing our remodeling materials.
  7. Material transportation for remodeling and construction.
  8. Possible demolitions which may occur in the future and recycling of such materials.

From all of the above, 80% of our emissions come from the first four sources listed. Sources 5-8 amount for the other 20%.

Action Plan

As a result, our reduction strategy focuses on these four sources, since we believe they will produce the best cost- benefit results, and will impact the most in our emissions in the short, medium and long-term.

On the first scope, our emissions vary depending on the estate, some of the main factors affecting our emissions are:

  • Weather and location.
  • Building design.
  • Construction materials.
  • Sector (office, retail and industrial parks).
  • Number of visitors.
  • Number of tenants.
  • Energy sources.

In our initial analysis, we have identified barriers which may arise when executing our strategy, in order to measure, reduce and mitigate our emissions:

Striving for resilience

Real Estates is perhaps one of those industries where climate change is visible and consequential. The increasing amount and intensity of rain, hurricanes and tropical storms, paired with water scarcity and flooding, are definitely natural phenomena we should be preparing for.

In a natural disaster, LEED scores, toxic free paintings and eco-technologies do little to our business if the infrastructure itself is unavailable to lease, manage or sell. Unfortunately, as real estate managers, there is little we can do to acquire resilient buildings capable of enduring all natural phenomena, given that there are few of such buildings available in the Mexican market. However, we undertake a due diligence process, before acquiring an estate; and it is in this phase, where we analyze each property complies with specific requirements according to the area they are in. For example, in Mexico City a fundamental requirement would be to have seismic reaction mechanisms and in coastal areas we search for protection and reaction safety mechanisms in case of hurricanes.

On those estates where we do have a saying in their design, say those we develop or acquire in their developing stage, FUNO uses state of the art engineering, architectural, design and technology to prevent and react in case of natural phenomena or human made disasters (i.e. Torre Diana, Mitikah and Torre Reforma Latino)

Every single one of our estates have action and reaction plans for different scenarios and we reinforce such plans with structural changes (when needed) to increase their resilience in case of future natural disasters (such was the case in Cabo ley and Gran Patio Pachuca)

Partnerships

In order to reduce emissions and our impact on Mexico City´s pollution problematic; as well as to support efforts made by authorities and the private sector, FUNO created a partnership with different automotive brands, in order to install in our shopping malls, electric-car charging stations. Currently we have them in Mexico City, Guadalajara and Monterrey, our three main metropolitan areas.

Biopappel
We also partnered with Biopappel, which is a company dedicated to collect residual cellulose and transform it into new recycled paper; FUNO gets 9 boxes of recycled paper for office use, for every 5 tons of cellulose delivered to them from our waste paper/magazines/news paper, etc.