Since 2019, we monitor our GHG intensity for scope 1 and 2. At FUNO® this is a key performance indicator, since it shows our emissions per occupied square meter, representing the efficiency of our operations.
From Janurary 2020 we started our assessment on the physical risks and vulnerabilities our properties face as a
result of climate change. This is crucial in order to adapt to different climate scenarios on time and start our transition into
Our climate change risk assessment consists of three phases:
This stage consisted of identifying transitional and physical risks; the latter were analyzed based on
temperature and precipitation variations in two periods and Representative Concentration
Pathways (RCP 4.5 and 8.5) as well as the current vulnerability of 534 properties
to physical risks related to the climate, thus obtaining the following results:
Following the recommendations of the “Task Force on Climate Related Financial Disclosure” (TCFD),
the transition risks towards a low carbon economy were identified under the scenario
given by the “Deep Decarbonization Pathways Project” (DDPP) whose approach
consists of limiting global temperature rise below 2 ° C.
This scenario shows the deep decarbonization routes to be followed by the 16 countries
that represent 74% of global GHG emissions, including Mexico, as well as the necessary changes
in infrastructure to achieve decarbonization. In this sense, the main risks in this scenario are:
Based on the identification of physical risks, the largest number of vulnerable properties are located in
a scenario in which Greenhouse Gas emissions continue to increase and the vast majority of organizations
maintain a “business as usual” approach. This scenario brings with it implications for the operations
and infrastructure of our properties, therefore, the physical and operational impacts were
identified based on the key elements to maintain the operation of our properties, such as an
adequate infrastructure and the continuous supply of water and energy. In this sense:
The financial implications and impacts associated to the transition risks were determined
based on the 3 pillars of decarbonization of the DDPP scenario, energy conservation
and efficiency, decarbonization of electricity, and switching energy end-uses
to lower-carbon energies. Based on this, the implications associated to transition risks are:
We focus on:
During our initial assessment we also identified challenges and barriers to the succesfull implementation
of our assessment, for which we have also implemented action plans. Such as:
Over 90% of our carbon footprint comes from
electricity consumption (scope 2).
Hence most of our reduction initiatives focus
on making our properties more efficient, through:
|The 4,5% of our electricity intensity reduction was due to the positive response of our tenants
and their engagement on the implementation of good practices in their spaces, such as, reducing lighting hours and turning off equipments when they leave the office, implementing collective transportation systems for their employees, reducing the number of elevators used after business hours, etc.
Waste management has been one of our largest challenges in terms of
measurement, volume registration and controlling the final disposition of it.
|This due to lack of culture in Mexico, Hence, we started a pilot project in Portal San Angel with the collaboration of our top four waste generating tenants. This pilot has tried out different strategies, the pilot included accurate disposition of hazardous waste, accurate segregation of materials which can be revalued (pet, cardboard, aluminum) in order to reduce our emissions generated by waste going into landfills.|
Alliances to reduce and
compensate GHG emissions
Contributing to the compensation of GHG emissions at the national requires team
effort, for this reason FUNO® has engaged in the following partnerships:
102 electric vehicle charging stations have been installed in our properties in Mexico City, Guadalajara and Monterrey in alliance with 3 different automotive companies. With these spaces, FUNO® is contributing to the transition towards a less polluting vehicle fleet.
In 2019, the alliance with Grupo Modelo was established for the collection and reuse of glass in three of our properties. The collected glass will be recycled for the production of new bottles, which will reduce the GHG emissions derived from it´s processing.
FUNO® has participated for the last 3 years in CONAFOR's annual reforestation during the months of July and August. In 2019, 570 Pinus Montezumae trees were planted in the Magdalena Petlacalco ejido of the Tlalpan mayor's office, which represents around 38 tonCO2e captured.
In 2020 FUNO® joined Pronatura's “Adopt an acre” program, in which it undertakes to reforest and maintain a hectare in the Sierra Morelos State Park, in Toluca, State of Mexico.
Since 2016, FUNO® developed an internal software for the reporting of:
Every month, property managers upload the information and relevant evidence
to our software, from which data is inputted into the GHG emissions
calculator, which allow us to calculate and monitor Greenhouse Gas emissions
generated by our operations. This results on our annual Carbon Footprint.
Evaluating climate change related risks is core to our ESG strategy and to our operations.
Hence we have analyzed the vulnerability of our properties in the fase of:
For this we take into consideration the recommendations of
TCFD and the scenarios provided by the IPCC
|Currently, in our due diligence process, prior to the acquisition of real estate, we seek that the properties meet specific requirements for the area where they are located; for example, for those properties located in coastal areas, it is essential that they have infrastructure and security procedures that minimize the impacts of hydrometeorological phenomena of the region.|
|In the case of those properties
that we acquire in its development
phase or develop in its entirety,
we include from these phases
the engineering, architecture,
and avant-garde technology
necessary to face different
Likewise, our properties have procedures and action plans to face meteorological
phenomena, which are constantly reinforced and updated in order
to increase the resilience of our properties to the effects of these phenomena.