ESG STATEMENT 

This is an environmental, social and governance statement (ESG) of P81 Business Property OÜ (P81BP). 

Real estate improvement is the best way to increase its value and transitioning from general sustainability principles towards more precise ESG criteria is an important part of this process. Our aim as a business property owner and developer is to be part of the transition and work towards transposing the ESG best practices and applicable standards into the business activities of the property and company.

The purpose of this statement is to reflect our ESG policy, strategy and action to our stakeholders.

P81BP has scheduled internal ESG review on a regular basis to revise and update ESG strategy, goals and action plan.

ENVIRONMENTAL

P81BP works on environmental issues from a strategic perspective and in a systematic manner with the aim of identifying its environmental risks and implementing actions to mitigate these as follows.

Materials and resources – in construction processes we order from contractors’ industry standard certified products to ensure compliance with sustainability standards. We put high attention to longevity and lifespan of materials used. We see this critical for minimizing our carbon footprint and ensuring sustainable real estate development activity.

Existing buildings located at Peterburi road 81 were built in 1980s for Salvo plastic factory as state-of-the-art modern buildings at the time with strong influences from Nordic design.

After three decades of use majority of the technical systems reached end of lifespan and property user environment outdated compared to modern standards. In 2015 we developed a business plan that would see stage-based renovation of the buildings with effort and focus on aligning lifespan of existing core structures with new and innovative technical systems for smart use of resources. We have been actively implementing this business plan and will continue to do so going forward.

Energy sources and efficiency located in the district of city heating area P81BP is using heating energy from Utilitas Tallinn AS who is targeting carbon neutral status by year 2030. Electricity is provided by Eesti Energia who reached 40% energy production from renewable sources in 2020.

In P81BP six new heating substations were built during 2015-2022 period for more efficient distribution of heat and better regulation and meter reading options. During the same period 75% of ventilation systems have been replaced with modern systems with heat recovery and sensor-based automatics. We aim to continue modernising the heating and ventilation systems in the course of tenant specific renovations also during the following years.

90% of new lighting systems installed in P81BP is based on efficient LED and sensor-based technology. In 2023 P81BP is installing new electricity consumption measuring systems for more accurate energy use overview and management.

Water is provided by Tallinna Vesi AS and P81BP has built new connection from the service provider network in 2016 with new water handling unit that also includes UV water cleaning filter.

Waste management – We follow regulations on waste management and put high value in proper utilization of construction waste by only accepting service providers who can provide trustworthy receipt for the utilization of waste.

SOCIAL

Occupier and community relations – We value tenant relations and user experience and are exploring options how to support and amplify tenant efforts in sustainability management.

We aim to have an active discussion and engagement with tenants on the ESG agenda.

P81BP follows (EU) 2016/679 General Data Protection Regulation as part of data protection management.

P81BP is situated in Lasnamäe between largest residential and industrial areas in Tallinn. P81BP supported and provided venue for TEDxLasnamäe conference in 2018 and has provided rooms for other social events.

Health, safety and security – we follow regular maintenance schedules on technical systems to provide and ensure efficiency of working systems critical for healthy user environment. Use of the premises by the tenants is governed by a professional lease agreements and internal rules of the property that all the tenants are obligated to observe, and that outline more detailed health and safety requirements, among others.

P81BP uses combination of manned security service on site with video surveillance and access control systems to keep the property secure.

Accessibility – P81BP has good access to public transportation via illuminated pedestrian roads. Parking arrangement meets parking spaces benchmark requirement stated in decision document no. 84 of the Tallinn City Council 17.09.2020.

Equal opportunities - P81BP provides equal opportunities for all tenants and service providers. P81BP does not have any employees.

Fundamental rights - respects all internationally recognized human rights and fundamental freedoms.

GOVERNANCE

Corporate culture and complianceP81BP is committed to acting with integrity, ethically and in compliance with all applicable legal requirements at all times, has zero tolerance for corruption, money laundry and bribery, and demands the same from its business partners. All P81BP’s business partners are encouraged to report on any suspected violations of legal acts or good faith concerns regarding P81BP to info@p81property.ee. P81BP will investigate all such reports while safeguarding the confidentiality and integrity of the investigation to the extent allowed by law.

Clear ESG Governance Structure

P81BP has transparent corporate structure via direct ownership by Norwegian investment company Landgangen AS. The company’s management comprises of Steffen Langaard and Fabian Langaard, who are very experienced professionals and leaders with extensive background in investment banking. The members of the management have a good understanding of the risks, opportunities and regulatory aspects of ESG as they impact P81BP’s business, and are actively involved in the company’s ESG matters.

In order to further increase the level of competence, experience and dedication on management level, P81BP has engaged one of the most experienced and reputable real estate companies Estonia 1PARTNER Kommertskinnisvara OÜ to manage and develop the property located on Peterburi road 81. The management board of P81BP has appointed 1PARTNER Advisory OÜ as the ESG lead in P81BP with the responsibility of working out, implementing and regular reporting on P81BP’s specific action plan on ESG matters.

P81BP is financed by one of the largest Scandinavian banks Swedbank and has transparent accounting with all monetary transactions carried out via bank transfers. Our financial statements are in compliance with Estonian GAAP and are audited annually by Grant Thornton Baltic.

Digitizing processes. P81BP is considering digitizing its processes (e.g. through adoption of a landlord-tenant collaboration and communication platform) in order to enable enhanced decision-making, real-time and more in depth insights into running the property, increased efficiency and cost reduction, seamless connection of supply and demand, remote collaboration as well as increased tenant satisfaction.

Sustainability Assessment Method and Certificate

P81BP is soliciting an ESG rating from a recognized rating agency in the real estate sector. Our objective in 2024 is to apply for BREAAM (Building Research Establish Environmental Assessment Method) in-use v6 valuation to provide management the framework to measure, certify and improve the property to correspond with sustainability and ESG standards.

BREEAM is the world’s leading sustainability assessment method for masterplanning projects, infrastructure and buildings. It recognises and reflects the value in higher performing assets across the built environment lifecycle, from new construction to in-use and refurbishment. According issuers of the BREEAM certificate, this is done through third party certification of the assessment of an asset’s environmental, social and economic sustainability performance, using standards developed by BRE. This means BREEAM rated developments are more sustainable environments that enhance the well-being of the people who live and work in them, help protect natural resources and make for more attractive property investments.

FUTURE SHAPERS FOR YOUR BUSINESS

Contact us and find the most suitable business premises for your company.

P81 BUSINESS PROPERTY OÜ

Peterburi street 81, Tallinn 11415
info@p81.ee
+372 5558 1694

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