Periodical survey
By carrying out the Tenant survey we are able to assess tenants experience in our building and fine tune our ESG guidelines to build up a win- win relationship with them.
SPAIN
Orense, 2 office building has been leased to EY.
Orense, 2 will be pivotal within the new EY Campus and the innovative workspace concept that the company will be developing in the center of Madrid, connected with the current EY headquarter in Torre Azca by a pedestrian space in a unique and dynamic environment.
Property of Generali Spain and managed by Generali Real Estate, Orense, 2 is a prime office building currently under refurbishment upon a project by Estudio Lamela architects, focused on sustainability, energyefficiency and wellbeing, and in line with the highest international standards such as the LEED certification (in progress). It is located in one of the most dynamic and sought-after financial and retail neighborhoods in central Madrid, well connected with smart mobility solutions and plenty of services.
To make the full alignment between Generali Real Estate and EY on sustainability commitments even more concrete, the lease agreement includes ‘green’ clauses, aiming to further optimize energy consumption, reduce CO2 emissions and promote the use of hashtag#renewableenergy.
We are proud to collaborate with a prime global player, finding in our building the perfect place for their strategic growth, up to the latest workspace standards, and able to fully meet their needs in terms of flexibility, connection and collaboration.
GREEN LEASE
Environmental regulations, decarbonization and energy saving issues are topics increasingly affecting landlords. However, it is obvious that the owner of a property cannot meet all commitments without involving his tenant, equally concerned by these issues.
Green leases do already exist in the real estate market for several years. Tenants in particular viewed the regulations, which were initially still very complex, with great suspicion, as either hidden advantages in favor of the landlord were suspected behind the regulations or the effort involved was simply shied away from.
Generali Real Estate can look back on extensive experience with the development and implementation of green leases: Generali Real Estate was already involved in providing guidelines for green lease clauses for the real estate market in 2015. A corresponding brochure was made available (also online) in order to contribute to the dissemination of this useful tool. Even then, this project was rolled out in two countries (Italy and Germany) to ensure an international approach.
On basis of the experience of the following years, Generali Real Estate has developed an internal international standard for green clauses, which are now applied in the standard lease agreements across the European portfolio, adapted to the respective national law.
Thanks to Generali Real Estate's experience, an optimal ratio of comprehensiveness and complexity were achieved. The tenant has the option of choosing between a “basic package” (minimum requirement to speak of a green lease) or selected additional offers. Most important ESG topics as energy and CO² reduction, green regulations, certification, data analytics, are contained. So Generali tenants have the opportunity to contribute to the optimization of the property (e.g. through their contribution to energy monitoring), as well as to support their own sustainability goals. The standardized definition of green clauses results supports the Generali Real Estate systematic reporting. Green leases have become an indispensable part of certification and benchmarking approaches (e.g. GRESB) and give substantial support to the Generali Real Estate sustainability strategy.
