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GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   1
Today’s program!
14.30:            !Tour of Philips’ Lighting Centre (for those opted into tour)!
  !
16.00:            !Introduction to GRESB !
    !             !Sander Paul van Tongeren, APG Asset Management and co-founder GRESB 
                                                                                      !
    !             !!
    !             !Benefits of A Sustainable Lighting Investment Strategy!
    !             !Derk Bots, Commercial Director of Philips !
 !
    !             !Best Practices:!
    !             !Simon Cox, UK Sustainability Officer, Prologis!
                   Anne de Jong, Portfolio Manager, Offices, CBRE Global Investors!
                   Lara Muller, Head of Corporate Social Responsibility, Corio!
 !
         !        !Discussion Forum: The Present and Future State of Sustainable Buildings!
         !        !Moderator: Nils Kok, Maastricht University and co-founder GRESB!
 !
18.00:            !Drinks and networking!
!


     GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!                     2
Eindhoven – September 20, 2012!
                                                                             Sander Paul van Tongeren!
                                                                               APG Asset Management!

GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!                                    3
Why sustainability matters!
The driving factors!
      !   Increased demand from tenants and institutional investors!
      !   More and stricter environmental regulation!

The financial business case!
      !   Increased net incomes !
      !   Risk-mitigation strategies!
      !




                                                                    Source: Eichholtz, Kok and Quigley (2012)


 GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!                                           4
Why GRESB for investors?!
How to measure “sustainability performance”?!
         !   Limited coverage and transparency of rating agencies!
         !   What to do with non-listed investments?!
         !
The added value of GRESB:!
         !   Measure “sustainability” performance at portfolio level!
         !   One approach and one methodology !
         !   Used as engagement tool by investors!

!


                                                                            GRESB’s mission is to enhance!
                                                                         shareholder value by evaluating and!
                                                                       improving sustainability practices in the!
                                                                                    global real estate sector”!

    GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!                                                5
GRESB data is now used by 35 investors…!




GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   6
…and GRESB is supported by!

All major industry associations across the globe!




Supporting members!
•       ACSI (Australian Council of Super Investors)                    •    IVBN (Dutch Property Federation)
•       AFIRE (Association of Foreign Investors in                      •    PCA (Property Council of Australia)
        Real Estate)                                                    •    REALpac (Real Property Association of Canada)
•       ARES (Association for Real Estate                               •    RIAA (Responsible Investment Association
        Securitization)                                                      Australasia)
•       BPF (British Property Federation)                               •    UNPRI (United Nations Principles for
•       Ejendomsforeningen Danmark (Danish                                   Responsible Investment)
        property federation)




     GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!                                                        7
GRESB’s Associate Members!
!   Leading experts in your region who can provide strategic advice/
    consultancy services / products to improve your sustainability
    performance!
!




      !Please contact us via info@gresb.com and we will connect you with
       these organizations!



    GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!       8
GRESB is becoming the global standard…!
      2011                                                         2012




GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!          9
…and the coverage is increasing

!
                                                 Market coverage !
GRESB response rate!                                                          2012!   2011!
                                                   (value weighted 2012)!

Listed!                                                                         95!     69!
North America !                                                        44%!     31!     15!
Europe !                                                               65%!     40!     32!
Asia !                                                                 11%!     14!     12!
Oceania !                                                              75%!     10!     10!

Private !                                                                      348!    271!
North America !                                                                 63!     45!
South America !                                                                  6!      4!
Europe !                                                                       211!    162!
Asia !                                                                          36!     37!
Oceania !                                                                       32!     23!
Total !                                                                        443!    340!

                                                                                                        KEY FACT
                                                                                              31% global increase
                                                                                                 in response rate


    GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!                                           10
Response Rate: Europe!


Respondents

                                          Listed!            Private!

Number of respondents!                                40!            2011!

Market coverage!                                   65%!

Gross asset value!                           214,301!          252,346!
(US$ million)!




KEY FACT
25% increase in response rate
for listed companies in 2012


  GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!           11
2012 GRESB Report – launched September 5!
                                                                   New in 2012 GRESB Report:!
                                                                   !
                                                                   !   Sector leaders to acknowledge unique
                                                                       property types (no individual scores)!

                                                                   !   More in-depth analysis on sustainability
                                                                       performance of the global real estate
                                                                       sector: Aspects!

                                                                   !   Improved transparency in Methodology &
                                                                       Scoring and Verification of data!
                                                                   !


                                                                                          Report is available via!
                                                                                        http://gresb.com/survey/!


GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!                                                     12
GRESB Methodology & Scoring

!
Online survey, 35 questions (excluding
new development!
!
Two dimensions: Management & Policy
vs. Implementation & Measurement!
!
Link to Global Reporting Initiative (GRI
CRESS) the EPRA Best Practices
Recommendations on Sustainability
reporting and the INREV Sustainability
Reporting Recommendations!




 GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   13
GRESB Methodology & Scoring Document

!
GRESB Synopsis: objectives!
    !   Greater transparency !
    !


    !   Ability to review the scoring for each
        aspect and question!
    !


    !   Demonstrates which questions are
        benchmarked against sector peers/
        performance!
!
Scoring document!
    !   Available via the online data portal!




    GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   14
Data Verification and Analysis



!




    KEY FACT

    Over 40 data points are manually verified
    on content and accuracy.


     GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   15
Management

!
Dedicated Expertise Commonplace!
 !   Some 80% of respondents have an
     articulated vision and strategy on
     sustainability!
 !


 !   88% have dedicated resources for
     implementing sustainability strategy!
 !


 !   70% respondents have made senior
     management responsible for
     sustainability issues!
  !


 !   57% of higher management is
     informed at least every quarter on
     sustainability performance!



 GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   16
Policy & Disclosure

!
Substantial Increase in Transparency!
 !   At 81%, energy consumption is the
     main policy focus (75% in 2011)!
  !


 !   Other common policies adopted
     are: water consumption and waste
     management (both 69%)!
 !
Reporting performance!
 !   51% listed companies disclose
     sustainability performance in
     annual reports, as opposed to 16%
     of privately owned companies !
  !


  !   31% use the GRI framework!


 GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   17
Environmental Management Systems

!
EMS Implementation Drives
Reduction of Energy Consumption!
!


–  Oceania (86%) is most
   experienced using EMS!
!


–  35% of implemented EMS are
   externally certified and 29% are
   aligned with international standards!
!


–  6.7% like for like decrease in
   energy consumption for
   respondents having an EMS!




    GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   18
Performance Indicators!
What Gets Measured, Gets Managed!
!


     !   60% of respondents collect and
         report data on energy consumption
         (34% in 2011)!
     !


     !   However, 66% report on less than
         50% of the portfolio (coverage)!
     !


     !   8% of respondents have
         information on tenant-obtained
         energy use!
     !


     !   32% have developed performance
         targets focused mainly on energy
         consumption reduction!


    GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   19
Global Environmental Performance (2010-2011)*!




GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   20
Building Certifications

!
Certification Prevalent in Most Portfolios
Dedicated!
!


    !   At 62%, LEED is most commonly used
        green building certification, followed by
        BREEAM (28%) and Green Star (6%)!
    !


    !   72% of the respondents used nationally
        recognized certification schemes (e.g.
        mandatory energy performance
        certificates)!




        GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   21
Social Factors!
Substantial Upside Potential in!
Tenant Engagement!
!


    !   54% of the respondents have tenant
        engagement programs in place!
    !


    !   Green leases (26%) are becoming
        more prevalent; and 35% have
        regular meetings with tenants!
    !


    !   65% have developed a sustainability
        policy for external service providers;
        and 55% have integrated
        sustainability criteria into contracts!

    !

        GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   22
Overall sustainability performance is improving!

                                                                                  KEY FACTS

                                                                        All regions are (still)
                                                                            lagging Australia



                                                                      Companies/funds are
                                                                       moving from “Green
                                                                    Starter” to “Green Talk”



                                                                     20% of respondents are
                                                                    considered Green Stars,
                                                                              similar to 2011




 GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!                            23
Private is still lagging behind Listed, but….!

                                                                                 KEY FACTS

                                                                       The performance of
                                                                    ‘Listed’ has stabilized

                                                                    ‘Private’ is catching up
                                                                        quite rapidly (was a
                                                                     Green Starter in 2011)




 GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!                         24
Europe Sector Leaders!
 Europe!
 !                                                                                                    Legal
Sector!     Company name!                                            Fund name!
 !                                                                                                    structure!
 !
Retail!     Lend Lease Investment Management!                        Lend Lease Retail Partnership!   Private!
 !
Office!      Climate Change Capital!                                  Climate Change Property Fund!    Private!
 !
Industrial! Valad!                                                   European High Income!            Private!
 !
Residential!        The Unite Group!                                 -!                               Listed!    !
                                                                                                                 !
Other!              Big Yellow!                                      -!                               Listed!    !

                                                                                                                 !
                                                                                                                 !
Diversified!         Land Securities!                                 -!                               Listed!


All European sector leaders (listed) in the 2012 GRESB Survey are
from the United Kingdom: British Land Co (Retail); Derwent
London (Office) and Segro (Industrial).!


  GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!                                                   25
GRESB Scorecards and Member Portal!
2012 GRESB Scorecards and Member Portal!
    !       Improved quality and design!
    !       Benchmark composition against same property type and region!
    !       More detailed benchmarking available at question level!
    !       New developments separate section !
!




    GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!       26
Member Portal



Features!
 !
Overview of selected respondents
including:!
   !  Average scores!
   !  Four Quadrant Model!
   !  Number of Green Stars !
   !  Percentage outperforming
      benchmark!
   !  Portfolio characteristics
      (aggregated )!




 GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   27
More information?

! !   Visit the GRESB website at: www.gresb.com!
 !   View the full 2012 GRESB Report!
 !   Contact GRESB at info@gresb.com!




GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012!   28
Voordelen van het investeringen in
duurzame verlichtingstechnologieën

Derk Bots
Commercial Director, Philips
Philips Lighting
  Het aanpakken van fundamentele maatschappelijke problemen

  Wie we zijn                          Onze markten                       Onze missie

    Gestart in 1891 elektrisch licht
                                                                            Het
    Hoofdkantoor
    Eindhoven, Nederland                                                    verbeteren
                                                    2011
    Omzet €7.6 miljard in   20111                                           van het leven
    53,000 medewerkers                                                      van mensen
    belangrijkste markten Europa,
    Noord en Zuid Amerika en                                                door middel
    Azië-Pacific
                                          Lampen/componenten & controls     van zinvolle
    80.000+ producten en diensten         Professionele armaturen
                                                                            innovatie
                                          Consumenten armaturen
    5% van de omzet geïnvesteerd
                                          Automotive
    in R&D
                                          LED modules


Confidential                                                                                30
Het creëren van zinvolle innovaties
  Verbetering van leven op een nieuwe manier




                                           Verkrijgen van inzichten in de
                                           behoeften en verlangens van
                                           mensen

                                           Verander inzichten in innovaties

                                           “Leer snel, goedkoop falen”

                                           Leiden open innovatie




Confidential                                                                  31
Verandering is de enige constante
  En dat beïnvloedt hoe we denken, doen en reageren




  Milieubewustzijn            We worden steeds meer       Onze levensstijl verandert
  Energiezuinige              stads- en wereldburgers     Mensen besteden meer
  verlichtingstechnologieën   Gebouwen en straten         tijd aan ontspanning,
  kunnen wereldwijd           nemen ongeveer 75%          recreatie en sociale
  realistische besparingen    van alle voor verlichting   bezigheden thuis.
  bieden van 40% en meer.     verbruikte energie voor
                              hun rekening.

Confidential                                                                           32
De digitale revolutie
  LED-verlichting transformeert het hele landschap*


                                              2010
                                                  13%



                                                                        Traditioneel
                            87%        87%                              LED




                                               2015

                          50%

                                                                        Traditioneel
                                                 50%
                                                                        LED




 *Source: Philips Lighting global market study 2009, updated for 2010
Confidential                                                                           33
Een toekomst die rijk is aan zinvolle oplossingen
 Ontworpen vanuit de behoeften van mensen



      Leverancier van oplossingen
    •  Oplossingen die ontworpen zijn        •  Diensteninnovator
       vanuit de mens                        •  Geïntegreerd
    •  Modulair, flexibel, samenwerkend         projectmanagement
    •  Verkoop aan voorschrijvers en         •  Intelligente verlichtingssystemen
       eindgebruikers                        •  Nieuwe softwarestandaarden
    •  Innovatie van businessmodel

      Systeemintegrator

    •  Partnership met onze klanten          •  Economische systemen
    •  Efficiënte integratie van producten   •  Digitaal
    •  Bevorderen van lichtregelsystemen


      Productenkampioen
    •  Standaard producten                   •  Verkoop aan
    •  Producten met lange levensduur           handelskanalen
    •  Technologiegestuurd                   •  Industriële schaal	
  


Confidential                                                                        34
Eenvoudig het leven verbeteren met licht
   Het verschil van Philips Lighting




      Gericht op de
      mens
                            +      Partners in
                                   innovatie
                                                 +   Zinvolle
                                                     oplossingen




Confidential                                                       35
Eenvoudig het leven verbeteren met licht
   Gericht op de mens


     Verlichting is niet alleen voor licht, het
     inspireert, creëert en maakt een statement

     Maak een goede indruk met aantrekkelijke
     ruimtes die een genot zijn om in te werken.

     Gebruik oa LED's om sferen te fine tunen voor
     elke stemming, behoefte of taak.

     Geniet van de ultieme kantoorverlichting met
     geavanceerde verlichting regelingen en slimme
     aansturing.

     Onze oplossingen verbeteren het imago van uw
     bedrijf en creëert maximaal effect met minimale
       9/25/12
     belasting voor het milieu.

Confidential                                           36
Eenvoudig het leven verbeteren met licht
   Partners in innovatie


     Samenwerken zorgt voor goede resultaten.

     Co-development:
     Het creëren van nieuwe verlichtingsoplossingen
     die waarde toevoegen aan uw project.

     Toegang krijgen tot de meest recente
     technologieën, kennis en expertise

     Turnkey projecten en diensten:
     Een minimum aan gedoe, maximale voordelen

     Financiering, installatie, inbedrijfstelling

     Dedicated Philips team bewaakt en beheert uw
       9/25/12
     project

Confidential                                          37
Eenvoudig het leven verbeteren met licht
   Zinvolle oplossingen


     Verlichting is goed voor 30% van het
     energiegebruik in een kantoorgebouw.

     Met onze kantoorverlichting wordt uw gebouw:
     - “Groener”
     - Meer energie-efficiënt
     - Normconform

      Wij kunnen u helpen energie te besparen door:
      - Upgraden lampen - retrofit
      - Aanwezigheidsdetectie/daglichtregeling
      - Combineren taak- en algemene verlichting
      - Intelligente besturingen bv koppeling
        verlichting, zonwering en GBS
         9/25/12


Confidential                                          38
Afvalbrengstation Veenendaal

  “Uitstekende lichtkwaliteit en CO2-
  neutraal. Dat zijn kenmerken die ons
  bijzonder aanspreken.”


  Het team
  Klant:             ACV groep
  Locatie:           Afvalbrengstation –
                     Veenendaal
  Architect:         Mies Architectuur
  Installatieadvies: INNAX
  Installateur:      Linthorst


  Lichtoplossing:
  SpeedStar, LEDline, DayZone,
  LuxSpace
Confidential                               39
Conferentiezalen ABN AMRO

 “Met een hoger lichtniveau en een
 sprankelende uitstraling zijn onze
 zalen weer van deze tijd. We hebben
 een veel betere lichtkwaliteit en de
 storing op onze audiovisuele
 installaties is helemaal verdwenen.”


 Het team
 Klant:           ABN AMRO
 Locatie:         Foppingadreef – A’dam
 Architect:       Sinot branding&design
 Installateur:    Cofely - Amsterdam

 Lichtoplossing :
 DayZone, StyliD en lichtregelsysteem

Confidential                              40
Whirlpool Nederland Breda

 “Het nieuwe lichtplan, met als
 hoogtepunt de PowerBalance LED
 armatuur met lichtregelsysteem, past
 perfect bij de groene ambities van
 Whirlpool. De energiebesparing loopt
 op tot wel 60% en het licht is beter en
 rustiger en dat werkt prettiger.”

 Het team
 Klant:           Whirpool Nederland
 Locatie:         Heerbaan - Breda
 Installateur:    Jansen ET - Bavel


 Lichtoplossing :
 PowerBalance, LuxSpace, StyliD, Zadora

Confidential                               41
NAM Assen

 “Met lagere onderhouds- en
 exploitatiekosten, een afname van het
 energieverbruik en een significant
 langere levensduur biedt LED de
 nodige voordelen”


 Het team
 Klant:          NAM Assen
 Lichtontwerp    Philips NL

 Lichtoplossing :
 DayZone, DaySign, LuxSpace,
 MASTER LEDspot




Confidential                             42
Confidential   43
Corporate Responsibility

                                                               Simon Cox

First Vice President Project Management and UK Sustainability Officer



                                        Copyright © 2012 Prologis
Prologis – At a Glance

     Prologis is the leading owner, operator and developer of industrial real estate
     Focused on global and regional markets across the Americas, Europe and Asia


     $ 43.9 billion AUM

     52.9 million m2

     3,088 Buildings

     21 Countries

     4 Continents




45                                                                 Copyright © 2012 Prologis
Prologis Business Activities

     Real Estate Operations:

                Global presence
                Local knowledge
                Diversified global customer base


     Private Capital:

                Management of 18 diverse funds
                Typical co-investment of 10-50%


     Value Creation:

                Sustainable Development
                Renewable Energy
                Leasing
                Global Customer Solutions




46                                                 Copyright © 2012 Prologis
Corporate Responsibility

     Environmental                      Social                       Governance
     Stewardship                        Responsibility               and Ethics

      Operations                        Community                    Corporate
                                        Engagement                   Governance
      §  Lighting upgrades
                                        §  Green Path               §  Governance practices
      §  Benchmarking
                                        §  Corporate carbon         §  Independent directors
      §  Greenprint Foundation
                                            emissions
                                                                     §  Business conduct hotline
      §  Smart metering
                                        §  Education and training
      §  Technology pilot projects
                                        §  CR Champions
                                                                     Ethics
                                        §  Charitable activities    §  Code of business conduct
      Capital Deployment
                                        §  Prologis Foundation      §  Employee training
      §  Environmental certification
                                        §  Volunteering             §  Communications
      §  Energy performance
                                        §  Space for Good Program
      §  Embodied carbon

      §  Infill development

      §  Intermodal facilities

      §  Renewable energy

      §  ISO 14001




                  Three dimensions of care: for the planet, for people and for the pursuit of excellence in business

47                                                                                                  Copyright © 2012 Prologis
Sustainable Buildings - Environmental Certification

                             •  BREEAM 2011 Very Good - Pan European Goal
                             •  EPC ratings based on local systems




48                                                              Copyright © 2012 Prologis
Sustainable Buildings – Reduced Emissions

                                                                         •  Designing low energy buildings
                                                                          requires a ‘step by step’
                                                                          approach:

        CO2        Design out the need for energy
              Customer Carbon Footprint                                    •  Include passive energy saving
                                                                              features: 15% roof lights, dual
                                                                              aspect offices, solar shading,
                                                                              air tightness and high levels of
                                     Use energy efficiently                   insulation
                                 Prologis Carbon Footprint
                                                                           •  Use efficient plant and
                                                      Use appropriate         systems: fluorescent lighting
                                                      renewable energy
                                                                              with movement and daylight
                                                                              controls, low NOX boilers,
                                                                              smart metering and energy
                                                                              monitoring


                                                                           •  Consider appropriate use of
                                                                              renewable energy: Solar
                                                                              thermal hot water, Solar Wall,
                                                                              tri-generation CCHP




49                                                                         Copyright © 2012 Prologis
Sustainable Buildings - Embodied Carbon Mitigation

         •  Carbon ‘Life Cycle Assessment’ - BS EN ISO14040

         •  Cool Earth – 1,078 acres of rainforest protected

         •  Local education projects – 14 Schools
                 Customer Carbon Footprint
         •  Planet Positive Certification



                                     Prologis Carbon Footprint




50                                                               Copyright © 2012 Prologis
Award Winning Approach




51                            Copyright © 2012 Prologis
Market Drivers and Opportunities

      Customers
        •  Reduce operating costs
        •  Reduce emissions
        •  Complement existing CSR programmes


      Investors
        •  Occupancy
        •  Future Proofing
        •  Value Presentation


      Prologis
        •  Sustainability as a customer service
        •  Reputational benefits
        •  Consistency and transparency
        •  Risk management


52                                                Copyright © 2012 Prologis
Portfolio Buildings - Analysis

     Benchmarking:

        •  Greenprint Foundation – Carbon Index
        •  Trials of smart meters and certification tools
        •  GRESB
        •  Memorandums of understanding

     Lighting:

        •  Up to 64% of total energy use
        •  Warehouse lighting = 88%
        •  Specification = 1.46W/m2/100lux
        •  40% of portfolio has high efficiency lighting
        •  6 million m2 retro-fitted

     Energy Performance Certificates:

        •  A or B Ratings achievable with lighting upgrades

53                                                            Copyright © 2012 Prologis
Infill Logistics

                        Prologis target Global Locations near ports, airports and transport corridors

                        Infill locations can significantly reduce supply chain emissions

                        Intermodal facilities offer further benefits




54                                                                     Copyright © 2012 Prologis
Conclusions


                   • Sustainability can drive occupancy and preserve value


                   • High quality buildings + upgrade as technologies improve


                   • Consistency is more important than flagship projects


                   • Access to good data is essential

                   • Getting this data brings us closer to our customers




55                                                       Copyright © 2012 Prologis
GRESB Seminar
CBRE Dutch Office Fund


                      20 September 2012




                             Presented by:
                             Anne de Jong
 Portfolio Manager Offices The Netherlands
Introduction CBRE Dutch Office Fund



                                         45 Institutional Investors




                                                                                        Fund Management



     Independent Supervisory Board      CBRE Dutch Office Fund        Fund Management




                                     CBRE Dutch Office Master Funds
                                                                                        Fund Manager        Portfolio Manager   CFO
                                                                                        Hans Copier         Anne de Jong        Richard van Altena




                                                                                        Portfolio Dutch Office Fund
                                                                                        80 buildings
                                                                                        > 600 tenants
                                                                                        Ca 834,721 m²
                                                                                        Ca EUR 2.1 billion




CONFIDENTIAL AND PROPRIETARY
Investment and Leverage Policy
 Operating Policy

 Our competiveness is determined by 3 items
 §    The quality of our locations
         −  further increase our focus on multifunctional locations.


 §    The quality of our buildings
         −  Sustainability is now a key element of the portfolio strategy
         −  Our (future) tenants demand buildings which offer them the possibility to introduce The New
            World of Working
         −  All our tenants demand high quality building offering them at a maximum level of comfort
         −  We will be more focused on investigating possibilities to adjust our tenants into multitenant
            buildings


 §    The quality of our management (including services to current and potential tenants)
         −  To attract more new tenants and retain current ones we should further improve the level of our
            management and services.
         −  Introduce more flexibility in contracts.




CONFIDENTIAL AND PROPRIETARY
Sustainable housing
 An obvious result of the investment strategy of CBRE Global Investors




  WTC Amsterdam 1982                     WTC Amsterdam 2010


  Sustainable housing=
       •  Selecting the best locations for every sector in The Netherlands
       •  (Continuous) investment in the prime quality of the real estate


   Result = sustainable demand for our buildings, thus return for our shareholders
CONFIDENTIAL AND PROPRIETARY
Sustainable strategy

 Ambition 2010 – 2020
 ‘The CBRE Dutch Office Fund wishes to be a leading provider of sustainable real estate products in our
 industry by providing tenants with sustainable accommodation solutions and offering our shareholders
 the most sustainable European office Fund.’


 Objectives
 Our aim is to set the standard and therefore exceed the objectives set by the Dutch government, RGD
 and the IVBN. We have set 5 main objectives for 2013:

  Five main objectives for 2013, based on property lifecycle
  Acquisition          Properties that are acquired will have an outstanding sustainability level or
                       have the realistic potential to be upgraded to an acceptable level
                       (measurement: minimal EPC-label A)

  Operation            Outperform on sustainability performance in our industry peer groups
                       (measurement: average EPC-label of portfolio outperforms Dutch office
                       market)
  Refurbishment        Properties that will be refurbished will be upgraded to an acceptable
                       sustainability level
                       (measurement: minimal EPC-label C)
  (Re)Development      Properties that are (re)developed will be (re)built to an outstanding
                       sustainability level
                       (measurement: minimal EPC-label A)
  Disposal             Sustainable criteria will be taken into account during the disposal process
                       (measurement: presence into the relevant disposal documentation)


CONFIDENTIAL AND PROPRIETARY
Achieving sustainable buildings together with our Tenants
 Obtaining results for tenant and landlord




 Result:
 •  Demands of the client (tenant) are realized;
 •  Obtain conditions of the owner (landlord);

 •  Comfort for the users of the office building;
 •  Part of corporate responsibility policy of both client and landlord.



CONFIDENTIAL AND PROPRIETARY
Sustainable renovations and redevelopments
 Overview of realised sustainable renovations within the DOF portfolio
                               WTC Amsterdam                             Nieuw Amsterdam Gebouw
                               Amsterdam                                 Amsterdam

                               - Tenant brochures                        -  Total redevelopment
                               - Execution quick wins                    - BREEAM renovation certificate
                               - BREEAM in use                           - Energy label A after renovation
                               certificate
                               - All buildings energy label
                               A
                               Vivaldi offices                           Hojel City Centre I
                               Amsterdam                                 Utrecht

                               - Greenlight EU award                     -  New ways of working
                               - Innovative lightning                    -  Minimal label from E to C
                               - Energy label B after
                               renovation



                               Groene Toren                              Lange Voorhout
                               The Hague                                 The Hague

                               -  Energiy label from G to B              -  Energy label C
                               -  Cooperaion with tenant                 - New façade glass



CONFIDENTIAL AND PROPRIETARY
Sustainability achievements


 §  Dutch Office Fund is considered to be a Green Star in the GRESB survey which was executed
     on behalf of a group of investors (a.o. ABP, PGGM);
 §  The WTC Amsterdam belonged to the first group of five properties which received the first
     BREEAM in Use certificates.
 §  Due to major renovations projects in Amsterdam, Rotterdam, The Hague and Utrecht the average
     energy label score is gradually improving. The portfolio is well ahead in relation to the market
     average.
                                                             50%
                                                                       ING DOF
                                                             40%
                                                                            Dutch market

                                                             30%



                                                             20%



                                                             10%



                                                             0%
                                                                   A         B        C    D   E   F   G




                      CBRE DOF will head towards an average of energy label B after
                          completion of the redevelopments and refurbishments
CONFIDENTIAL AND PROPRIETARY
Green Action Plan 2012
  PORTFOLIO

  1. LABELING & BENCHMARKING
   - Label key properties of ING DOF with BREEAM-In-Use
   - Benchmark portfolio on ISA's Key Performance Indicators (KPI)

  2. PERFORMANCE MONITORING
   - Adapt INREV sustainable reporting standards
   - Provide report on actual standings based on INREV standards

  3. TENANT ENGAGEMENT
   - Further develop programs for tenants to inform them regarding sustainability
   - Provide insight in the energy behaviour of the tenant's

  4. PROCUREMENT POLICY
   - Set up procurement policy
   - Communicate procurement policy to stakeholders

  5. PROPERTY MANAGEMENT
   - Add a sustainable paragraph based on actions to the property management
   agreement

  6. ENVIRONMENTAL MANAGEMENT SYSTEM (EMS)
   - Develop EMS system for the portfolio
   - Integrate all relevant data and KPI's
                                                                                    Sustainability reporting, sustainability report 2012
  PROPERTY

  7. CLIMATE INSTALLATIONS
   - Optimize climate installations where feasible based on 2011 analysis

  8. WATER CONSUMPTION DATA
   - Start monitoring water consumption in m3
   - Calculate spendings on water consumption in €

  9. WASTE MANAGEMENT
   - Start tender for waste management procurement
   - Gather data on waste consumption in m3 and €


CONFIDENTIAL AND PROPRIETARY
Sustainability report 2012


                               Available at out website:

                               WWW.DUTCHOFFICEFUND.COM




CONFIDENTIAL AND PROPRIETARY
CSR 2.0

FROM   RESPONSIBILITY TO OPPORTUNITY
PORTFOLIO OVERVIEW
CSR   STRATEGIES: VALUE CREATION




                                   Innovation,
                                   growth &
                     Cost          competitive
                     reduction &   advantage
                     Efficiency
        Compliance
        & Risk
EXHIBIT 1: SAM 2011
EXHIBIT 2: HARVARD 2012
VALUE OF CSR-COMPANIES
EXHIBIT 3: THE   RETAILER
The Brands that Survive Will Be The Brands That Make
                     Life Better
EXHIBIT 4: THE   NEW CONSUMER
WHY? PURCHASE   MOTIVATOR
GREAT COMPANIES ARE STAKEHOLDER
      VALUE BUILDERS, NOT JUST SHAREHOLDER
      AGENTS
“These companies pay their employees very well, provide great value to
customers, and have thriving, profitable suppliers. They are also wonderful
for investors, returning 1025% over the past 10 years, compared to only
122% for the S&P 500 and 316% for the companies profiled in the bestselling
book Good to Great -- companies selected purely on the basis of their ability
to deliver superior returns to investors.”
THE CASE            FOR          CORIO

                            • A growing number of consumers are choosing to buy sustainable brands. Retailers are adapting to this movement
    Drive consumer            quickly. We should too, as a business moving from B2B to B2C & as a preferred partner for retailers
      preference            • Sustainability is only adding to a brand’s succces if it is based on top performance.


                            • Many retailers have sustainability goals of their own. A more sustainable brand is increasingly a more desirable brand.
                            • We share our expertise in areas such as wellbeing and energy efficiency. This collaboration is broadening and
Be the preferred partner      deepening the relationships we have with retailers.
      for retailers         • Sustainability is increasingly a retainer for existing customers and attracting new ones, hedge against changing tenant
                              preferences
                            • It will help us and our customers reduce exposure to energy price volatility


    Fuel sustainable        • Sustainability is a fertile area for product and service development. It is allowing us to deliver new services /solutions
                              with new consumer and retailer benefits.
      innovation

                            • There is a proven relation between urban development levels and our profitability. Unemployment in our areas impact
                              our rental growth directly. By helping people become more economically and socially viable, we help the vitality of
                              our centres.
Be a top social performer   • Energy is a basic requirement in today’s and tomorrows society. High energy prices due to scarcity will destabalise the
                              societies in which we operate and affect purchasing power of individuals. By developing sustainable solutions to local
                              energy demands, we not only help society but secure our future.


Be a top environmental      • Managing our business sustainably reduces energy use, waste and water. It not only generates cost savings, it also
                              saves the retailer money through lower service charges
       performer


 Translate sustainability   • Higher rental income, lower obsolence risk, lower cost of capital, higher sales prices are a few research based findings
                              related to sustainable assets
value to economic value
OVERVIEW CSR          HIGHLIGHTS
               We embrace the concept of Shared Value: to fulfil our mission
            while advancing economic and social conditions in our communities.

                                        §    Included in DJSI Europe 2012 , ASPI,
                                              Vigeo, ESG leaders index
                                        §    Sector Winner in Transparency
                                              Benchmark by Dutch Ministry of
                                              Economic Affairs
                                        §    Corio included in the list of great
                                              places to work
                                        §    BREEAM Very Good certification for
                                              Tarsu (Turkey)
                                        §    ICSC Resource Award and a
                                              BREEAM Very Good rating for Forum
                                              Duisburg
                                        §    Galerie Dresden first shopping centre
                                              to have a BREEAM Excellent rating in
                                              continental Europe
                                        §    Groene Baksteen award 2012
                                        §    Fastest mover in VBDO benchmark

9/25/12                                                                   Nevap lezing   77
S4EEB:       INNOVATION




S4EeB aims to monitor and process
sounds and noises for determination of
occupancy to improve building energy
management (BEM) and efficiency.




                                    • Integration with other HVACL systems
                                    • Interoperates with all ICT systems
                                    • Capable of learning from previous situations
Let’s ask ourselves in these
         turbulent times…
Can we, the real estate industry, afford to
          ignore the evidence?

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GRESB Event at Philips Lighting

  • 1. GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 1
  • 2. Today’s program! 14.30: !Tour of Philips’ Lighting Centre (for those opted into tour)!   ! 16.00: !Introduction to GRESB ! ! !Sander Paul van Tongeren, APG Asset Management and co-founder GRESB  ! ! !! ! !Benefits of A Sustainable Lighting Investment Strategy! ! !Derk Bots, Commercial Director of Philips !  ! ! !Best Practices:! ! !Simon Cox, UK Sustainability Officer, Prologis! Anne de Jong, Portfolio Manager, Offices, CBRE Global Investors! Lara Muller, Head of Corporate Social Responsibility, Corio!  ! ! !Discussion Forum: The Present and Future State of Sustainable Buildings! ! !Moderator: Nils Kok, Maastricht University and co-founder GRESB!  ! 18.00: !Drinks and networking! ! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 2
  • 3. Eindhoven – September 20, 2012! Sander Paul van Tongeren! APG Asset Management! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 3
  • 4. Why sustainability matters! The driving factors! !   Increased demand from tenants and institutional investors! !   More and stricter environmental regulation! The financial business case! !   Increased net incomes ! !   Risk-mitigation strategies! ! Source: Eichholtz, Kok and Quigley (2012) GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 4
  • 5. Why GRESB for investors?! How to measure “sustainability performance”?! !   Limited coverage and transparency of rating agencies! !   What to do with non-listed investments?! ! The added value of GRESB:! !   Measure “sustainability” performance at portfolio level! !   One approach and one methodology ! !   Used as engagement tool by investors! ! GRESB’s mission is to enhance! shareholder value by evaluating and! improving sustainability practices in the! global real estate sector”! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 5
  • 6. GRESB data is now used by 35 investors…! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 6
  • 7. …and GRESB is supported by! All major industry associations across the globe! Supporting members! •  ACSI (Australian Council of Super Investors) •  IVBN (Dutch Property Federation) •  AFIRE (Association of Foreign Investors in •  PCA (Property Council of Australia) Real Estate) •  REALpac (Real Property Association of Canada) •  ARES (Association for Real Estate •  RIAA (Responsible Investment Association Securitization) Australasia) •  BPF (British Property Federation) •  UNPRI (United Nations Principles for •  Ejendomsforeningen Danmark (Danish Responsible Investment) property federation) GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 7
  • 8. GRESB’s Associate Members! !   Leading experts in your region who can provide strategic advice/ consultancy services / products to improve your sustainability performance! ! !Please contact us via info@gresb.com and we will connect you with these organizations! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 8
  • 9. GRESB is becoming the global standard…! 2011 2012 GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 9
  • 10. …and the coverage is increasing
 ! Market coverage ! GRESB response rate! 2012! 2011! (value weighted 2012)! Listed! 95! 69! North America ! 44%! 31! 15! Europe ! 65%! 40! 32! Asia ! 11%! 14! 12! Oceania ! 75%! 10! 10! Private ! 348! 271! North America ! 63! 45! South America ! 6! 4! Europe ! 211! 162! Asia ! 36! 37! Oceania ! 32! 23! Total ! 443! 340! KEY FACT 31% global increase in response rate GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 10
  • 11. Response Rate: Europe! Respondents Listed! Private! Number of respondents! 40! 2011! Market coverage! 65%! Gross asset value! 214,301! 252,346! (US$ million)! KEY FACT 25% increase in response rate for listed companies in 2012 GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 11
  • 12. 2012 GRESB Report – launched September 5! New in 2012 GRESB Report:! ! !   Sector leaders to acknowledge unique property types (no individual scores)! !   More in-depth analysis on sustainability performance of the global real estate sector: Aspects! !   Improved transparency in Methodology & Scoring and Verification of data! ! Report is available via! http://gresb.com/survey/! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 12
  • 13. GRESB Methodology & Scoring
 ! Online survey, 35 questions (excluding new development! ! Two dimensions: Management & Policy vs. Implementation & Measurement! ! Link to Global Reporting Initiative (GRI CRESS) the EPRA Best Practices Recommendations on Sustainability reporting and the INREV Sustainability Reporting Recommendations! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 13
  • 14. GRESB Methodology & Scoring Document
 ! GRESB Synopsis: objectives! !   Greater transparency ! ! !   Ability to review the scoring for each aspect and question! ! !   Demonstrates which questions are benchmarked against sector peers/ performance! ! Scoring document! !   Available via the online data portal! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 14
  • 15. Data Verification and Analysis
 
 ! KEY FACT Over 40 data points are manually verified on content and accuracy. GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 15
  • 16. Management
 ! Dedicated Expertise Commonplace! !   Some 80% of respondents have an articulated vision and strategy on sustainability! ! !   88% have dedicated resources for implementing sustainability strategy! ! !   70% respondents have made senior management responsible for sustainability issues! ! !   57% of higher management is informed at least every quarter on sustainability performance! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 16
  • 17. Policy & Disclosure
 ! Substantial Increase in Transparency! !   At 81%, energy consumption is the main policy focus (75% in 2011)! ! !   Other common policies adopted are: water consumption and waste management (both 69%)! ! Reporting performance! !   51% listed companies disclose sustainability performance in annual reports, as opposed to 16% of privately owned companies ! ! !   31% use the GRI framework! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 17
  • 18. Environmental Management Systems
 ! EMS Implementation Drives Reduction of Energy Consumption! ! –  Oceania (86%) is most experienced using EMS! ! –  35% of implemented EMS are externally certified and 29% are aligned with international standards! ! –  6.7% like for like decrease in energy consumption for respondents having an EMS! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 18
  • 19. Performance Indicators! What Gets Measured, Gets Managed! ! !   60% of respondents collect and report data on energy consumption (34% in 2011)! ! !   However, 66% report on less than 50% of the portfolio (coverage)! ! !   8% of respondents have information on tenant-obtained energy use! ! !   32% have developed performance targets focused mainly on energy consumption reduction! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 19
  • 20. Global Environmental Performance (2010-2011)*! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 20
  • 21. Building Certifications
 ! Certification Prevalent in Most Portfolios Dedicated! ! !   At 62%, LEED is most commonly used green building certification, followed by BREEAM (28%) and Green Star (6%)! ! !   72% of the respondents used nationally recognized certification schemes (e.g. mandatory energy performance certificates)! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 21
  • 22. Social Factors! Substantial Upside Potential in! Tenant Engagement! ! !   54% of the respondents have tenant engagement programs in place! ! !   Green leases (26%) are becoming more prevalent; and 35% have regular meetings with tenants! ! !   65% have developed a sustainability policy for external service providers; and 55% have integrated sustainability criteria into contracts! ! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 22
  • 23. Overall sustainability performance is improving! KEY FACTS All regions are (still) lagging Australia Companies/funds are moving from “Green Starter” to “Green Talk” 20% of respondents are considered Green Stars, similar to 2011 GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 23
  • 24. Private is still lagging behind Listed, but….! KEY FACTS The performance of ‘Listed’ has stabilized ‘Private’ is catching up quite rapidly (was a Green Starter in 2011) GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 24
  • 25. Europe Sector Leaders! Europe! ! Legal Sector! Company name! Fund name! ! structure! ! Retail! Lend Lease Investment Management! Lend Lease Retail Partnership! Private! ! Office! Climate Change Capital! Climate Change Property Fund! Private! ! Industrial! Valad! European High Income! Private! ! Residential! The Unite Group! -! Listed! ! ! Other! Big Yellow! -! Listed! ! ! ! Diversified! Land Securities! -! Listed! All European sector leaders (listed) in the 2012 GRESB Survey are from the United Kingdom: British Land Co (Retail); Derwent London (Office) and Segro (Industrial).! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 25
  • 26. GRESB Scorecards and Member Portal! 2012 GRESB Scorecards and Member Portal! !   Improved quality and design! !   Benchmark composition against same property type and region! !   More detailed benchmarking available at question level! !   New developments separate section ! ! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 26
  • 27. Member Portal
 
 Features! ! Overview of selected respondents including:! !  Average scores! !  Four Quadrant Model! !  Number of Green Stars ! !  Percentage outperforming benchmark! !  Portfolio characteristics (aggregated )! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 27
  • 28. More information?
 ! !   Visit the GRESB website at: www.gresb.com! !   View the full 2012 GRESB Report! !   Contact GRESB at info@gresb.com! GRESB | www.gresb.com | info@gresb.com | Copyright © GRESB 2012! 28
  • 29. Voordelen van het investeringen in duurzame verlichtingstechnologieën Derk Bots Commercial Director, Philips
  • 30. Philips Lighting Het aanpakken van fundamentele maatschappelijke problemen Wie we zijn Onze markten Onze missie Gestart in 1891 elektrisch licht Het Hoofdkantoor Eindhoven, Nederland verbeteren 2011 Omzet €7.6 miljard in 20111 van het leven 53,000 medewerkers van mensen belangrijkste markten Europa, Noord en Zuid Amerika en door middel Azië-Pacific Lampen/componenten & controls van zinvolle 80.000+ producten en diensten Professionele armaturen innovatie Consumenten armaturen 5% van de omzet geïnvesteerd Automotive in R&D LED modules Confidential 30
  • 31. Het creëren van zinvolle innovaties Verbetering van leven op een nieuwe manier Verkrijgen van inzichten in de behoeften en verlangens van mensen Verander inzichten in innovaties “Leer snel, goedkoop falen” Leiden open innovatie Confidential 31
  • 32. Verandering is de enige constante En dat beïnvloedt hoe we denken, doen en reageren Milieubewustzijn We worden steeds meer Onze levensstijl verandert Energiezuinige stads- en wereldburgers Mensen besteden meer verlichtingstechnologieën Gebouwen en straten tijd aan ontspanning, kunnen wereldwijd nemen ongeveer 75% recreatie en sociale realistische besparingen van alle voor verlichting bezigheden thuis. bieden van 40% en meer. verbruikte energie voor hun rekening. Confidential 32
  • 33. De digitale revolutie LED-verlichting transformeert het hele landschap* 2010 13% Traditioneel 87% 87% LED 2015 50% Traditioneel 50% LED *Source: Philips Lighting global market study 2009, updated for 2010 Confidential 33
  • 34. Een toekomst die rijk is aan zinvolle oplossingen Ontworpen vanuit de behoeften van mensen Leverancier van oplossingen •  Oplossingen die ontworpen zijn •  Diensteninnovator vanuit de mens •  Geïntegreerd •  Modulair, flexibel, samenwerkend projectmanagement •  Verkoop aan voorschrijvers en •  Intelligente verlichtingssystemen eindgebruikers •  Nieuwe softwarestandaarden •  Innovatie van businessmodel Systeemintegrator •  Partnership met onze klanten •  Economische systemen •  Efficiënte integratie van producten •  Digitaal •  Bevorderen van lichtregelsystemen Productenkampioen •  Standaard producten •  Verkoop aan •  Producten met lange levensduur handelskanalen •  Technologiegestuurd •  Industriële schaal   Confidential 34
  • 35. Eenvoudig het leven verbeteren met licht Het verschil van Philips Lighting Gericht op de mens + Partners in innovatie + Zinvolle oplossingen Confidential 35
  • 36. Eenvoudig het leven verbeteren met licht Gericht op de mens Verlichting is niet alleen voor licht, het inspireert, creëert en maakt een statement Maak een goede indruk met aantrekkelijke ruimtes die een genot zijn om in te werken. Gebruik oa LED's om sferen te fine tunen voor elke stemming, behoefte of taak. Geniet van de ultieme kantoorverlichting met geavanceerde verlichting regelingen en slimme aansturing. Onze oplossingen verbeteren het imago van uw bedrijf en creëert maximaal effect met minimale 9/25/12 belasting voor het milieu. Confidential 36
  • 37. Eenvoudig het leven verbeteren met licht Partners in innovatie Samenwerken zorgt voor goede resultaten. Co-development: Het creëren van nieuwe verlichtingsoplossingen die waarde toevoegen aan uw project. Toegang krijgen tot de meest recente technologieën, kennis en expertise Turnkey projecten en diensten: Een minimum aan gedoe, maximale voordelen Financiering, installatie, inbedrijfstelling Dedicated Philips team bewaakt en beheert uw 9/25/12 project Confidential 37
  • 38. Eenvoudig het leven verbeteren met licht Zinvolle oplossingen Verlichting is goed voor 30% van het energiegebruik in een kantoorgebouw. Met onze kantoorverlichting wordt uw gebouw: - “Groener” - Meer energie-efficiënt - Normconform Wij kunnen u helpen energie te besparen door: - Upgraden lampen - retrofit - Aanwezigheidsdetectie/daglichtregeling - Combineren taak- en algemene verlichting - Intelligente besturingen bv koppeling verlichting, zonwering en GBS 9/25/12 Confidential 38
  • 39. Afvalbrengstation Veenendaal “Uitstekende lichtkwaliteit en CO2- neutraal. Dat zijn kenmerken die ons bijzonder aanspreken.” Het team Klant: ACV groep Locatie: Afvalbrengstation – Veenendaal Architect: Mies Architectuur Installatieadvies: INNAX Installateur: Linthorst Lichtoplossing: SpeedStar, LEDline, DayZone, LuxSpace Confidential 39
  • 40. Conferentiezalen ABN AMRO “Met een hoger lichtniveau en een sprankelende uitstraling zijn onze zalen weer van deze tijd. We hebben een veel betere lichtkwaliteit en de storing op onze audiovisuele installaties is helemaal verdwenen.” Het team Klant: ABN AMRO Locatie: Foppingadreef – A’dam Architect: Sinot branding&design Installateur: Cofely - Amsterdam Lichtoplossing : DayZone, StyliD en lichtregelsysteem Confidential 40
  • 41. Whirlpool Nederland Breda “Het nieuwe lichtplan, met als hoogtepunt de PowerBalance LED armatuur met lichtregelsysteem, past perfect bij de groene ambities van Whirlpool. De energiebesparing loopt op tot wel 60% en het licht is beter en rustiger en dat werkt prettiger.” Het team Klant: Whirpool Nederland Locatie: Heerbaan - Breda Installateur: Jansen ET - Bavel Lichtoplossing : PowerBalance, LuxSpace, StyliD, Zadora Confidential 41
  • 42. NAM Assen “Met lagere onderhouds- en exploitatiekosten, een afname van het energieverbruik en een significant langere levensduur biedt LED de nodige voordelen” Het team Klant: NAM Assen Lichtontwerp Philips NL Lichtoplossing : DayZone, DaySign, LuxSpace, MASTER LEDspot Confidential 42
  • 44. Corporate Responsibility Simon Cox First Vice President Project Management and UK Sustainability Officer Copyright © 2012 Prologis
  • 45. Prologis – At a Glance Prologis is the leading owner, operator and developer of industrial real estate Focused on global and regional markets across the Americas, Europe and Asia $ 43.9 billion AUM 52.9 million m2 3,088 Buildings 21 Countries 4 Continents 45 Copyright © 2012 Prologis
  • 46. Prologis Business Activities Real Estate Operations: Global presence Local knowledge Diversified global customer base Private Capital: Management of 18 diverse funds Typical co-investment of 10-50% Value Creation: Sustainable Development Renewable Energy Leasing Global Customer Solutions 46 Copyright © 2012 Prologis
  • 47. Corporate Responsibility Environmental Social Governance Stewardship Responsibility and Ethics Operations Community Corporate Engagement Governance §  Lighting upgrades §  Green Path §  Governance practices §  Benchmarking §  Corporate carbon §  Independent directors §  Greenprint Foundation emissions §  Business conduct hotline §  Smart metering §  Education and training §  Technology pilot projects §  CR Champions Ethics §  Charitable activities §  Code of business conduct Capital Deployment §  Prologis Foundation §  Employee training §  Environmental certification §  Volunteering §  Communications §  Energy performance §  Space for Good Program §  Embodied carbon §  Infill development §  Intermodal facilities §  Renewable energy §  ISO 14001 Three dimensions of care: for the planet, for people and for the pursuit of excellence in business 47 Copyright © 2012 Prologis
  • 48. Sustainable Buildings - Environmental Certification •  BREEAM 2011 Very Good - Pan European Goal •  EPC ratings based on local systems 48 Copyright © 2012 Prologis
  • 49. Sustainable Buildings – Reduced Emissions •  Designing low energy buildings requires a ‘step by step’ approach: CO2 Design out the need for energy Customer Carbon Footprint •  Include passive energy saving features: 15% roof lights, dual aspect offices, solar shading, air tightness and high levels of Use energy efficiently insulation Prologis Carbon Footprint •  Use efficient plant and Use appropriate systems: fluorescent lighting renewable energy with movement and daylight controls, low NOX boilers, smart metering and energy monitoring •  Consider appropriate use of renewable energy: Solar thermal hot water, Solar Wall, tri-generation CCHP 49 Copyright © 2012 Prologis
  • 50. Sustainable Buildings - Embodied Carbon Mitigation •  Carbon ‘Life Cycle Assessment’ - BS EN ISO14040 •  Cool Earth – 1,078 acres of rainforest protected •  Local education projects – 14 Schools Customer Carbon Footprint •  Planet Positive Certification Prologis Carbon Footprint 50 Copyright © 2012 Prologis
  • 51. Award Winning Approach 51 Copyright © 2012 Prologis
  • 52. Market Drivers and Opportunities Customers •  Reduce operating costs •  Reduce emissions •  Complement existing CSR programmes Investors •  Occupancy •  Future Proofing •  Value Presentation Prologis •  Sustainability as a customer service •  Reputational benefits •  Consistency and transparency •  Risk management 52 Copyright © 2012 Prologis
  • 53. Portfolio Buildings - Analysis Benchmarking: •  Greenprint Foundation – Carbon Index •  Trials of smart meters and certification tools •  GRESB •  Memorandums of understanding Lighting: •  Up to 64% of total energy use •  Warehouse lighting = 88% •  Specification = 1.46W/m2/100lux •  40% of portfolio has high efficiency lighting •  6 million m2 retro-fitted Energy Performance Certificates: •  A or B Ratings achievable with lighting upgrades 53 Copyright © 2012 Prologis
  • 54. Infill Logistics Prologis target Global Locations near ports, airports and transport corridors Infill locations can significantly reduce supply chain emissions Intermodal facilities offer further benefits 54 Copyright © 2012 Prologis
  • 55. Conclusions • Sustainability can drive occupancy and preserve value • High quality buildings + upgrade as technologies improve • Consistency is more important than flagship projects • Access to good data is essential • Getting this data brings us closer to our customers 55 Copyright © 2012 Prologis
  • 56. GRESB Seminar CBRE Dutch Office Fund 20 September 2012 Presented by: Anne de Jong Portfolio Manager Offices The Netherlands
  • 57. Introduction CBRE Dutch Office Fund 45 Institutional Investors Fund Management Independent Supervisory Board CBRE Dutch Office Fund Fund Management CBRE Dutch Office Master Funds Fund Manager Portfolio Manager CFO Hans Copier Anne de Jong Richard van Altena Portfolio Dutch Office Fund 80 buildings > 600 tenants Ca 834,721 m² Ca EUR 2.1 billion CONFIDENTIAL AND PROPRIETARY
  • 58. Investment and Leverage Policy Operating Policy Our competiveness is determined by 3 items §  The quality of our locations −  further increase our focus on multifunctional locations. §  The quality of our buildings −  Sustainability is now a key element of the portfolio strategy −  Our (future) tenants demand buildings which offer them the possibility to introduce The New World of Working −  All our tenants demand high quality building offering them at a maximum level of comfort −  We will be more focused on investigating possibilities to adjust our tenants into multitenant buildings §  The quality of our management (including services to current and potential tenants) −  To attract more new tenants and retain current ones we should further improve the level of our management and services. −  Introduce more flexibility in contracts. CONFIDENTIAL AND PROPRIETARY
  • 59. Sustainable housing An obvious result of the investment strategy of CBRE Global Investors WTC Amsterdam 1982 WTC Amsterdam 2010 Sustainable housing= •  Selecting the best locations for every sector in The Netherlands •  (Continuous) investment in the prime quality of the real estate Result = sustainable demand for our buildings, thus return for our shareholders CONFIDENTIAL AND PROPRIETARY
  • 60. Sustainable strategy Ambition 2010 – 2020 ‘The CBRE Dutch Office Fund wishes to be a leading provider of sustainable real estate products in our industry by providing tenants with sustainable accommodation solutions and offering our shareholders the most sustainable European office Fund.’ Objectives Our aim is to set the standard and therefore exceed the objectives set by the Dutch government, RGD and the IVBN. We have set 5 main objectives for 2013: Five main objectives for 2013, based on property lifecycle Acquisition Properties that are acquired will have an outstanding sustainability level or have the realistic potential to be upgraded to an acceptable level (measurement: minimal EPC-label A) Operation Outperform on sustainability performance in our industry peer groups (measurement: average EPC-label of portfolio outperforms Dutch office market) Refurbishment Properties that will be refurbished will be upgraded to an acceptable sustainability level (measurement: minimal EPC-label C) (Re)Development Properties that are (re)developed will be (re)built to an outstanding sustainability level (measurement: minimal EPC-label A) Disposal Sustainable criteria will be taken into account during the disposal process (measurement: presence into the relevant disposal documentation) CONFIDENTIAL AND PROPRIETARY
  • 61. Achieving sustainable buildings together with our Tenants Obtaining results for tenant and landlord Result: •  Demands of the client (tenant) are realized; •  Obtain conditions of the owner (landlord); •  Comfort for the users of the office building; •  Part of corporate responsibility policy of both client and landlord. CONFIDENTIAL AND PROPRIETARY
  • 62. Sustainable renovations and redevelopments Overview of realised sustainable renovations within the DOF portfolio WTC Amsterdam Nieuw Amsterdam Gebouw Amsterdam Amsterdam - Tenant brochures -  Total redevelopment - Execution quick wins - BREEAM renovation certificate - BREEAM in use - Energy label A after renovation certificate - All buildings energy label A Vivaldi offices Hojel City Centre I Amsterdam Utrecht - Greenlight EU award -  New ways of working - Innovative lightning -  Minimal label from E to C - Energy label B after renovation Groene Toren Lange Voorhout The Hague The Hague -  Energiy label from G to B -  Energy label C -  Cooperaion with tenant - New façade glass CONFIDENTIAL AND PROPRIETARY
  • 63. Sustainability achievements §  Dutch Office Fund is considered to be a Green Star in the GRESB survey which was executed on behalf of a group of investors (a.o. ABP, PGGM); §  The WTC Amsterdam belonged to the first group of five properties which received the first BREEAM in Use certificates. §  Due to major renovations projects in Amsterdam, Rotterdam, The Hague and Utrecht the average energy label score is gradually improving. The portfolio is well ahead in relation to the market average. 50% ING DOF 40% Dutch market 30% 20% 10% 0% A B C D E F G CBRE DOF will head towards an average of energy label B after completion of the redevelopments and refurbishments CONFIDENTIAL AND PROPRIETARY
  • 64. Green Action Plan 2012 PORTFOLIO 1. LABELING & BENCHMARKING - Label key properties of ING DOF with BREEAM-In-Use - Benchmark portfolio on ISA's Key Performance Indicators (KPI) 2. PERFORMANCE MONITORING - Adapt INREV sustainable reporting standards - Provide report on actual standings based on INREV standards 3. TENANT ENGAGEMENT - Further develop programs for tenants to inform them regarding sustainability - Provide insight in the energy behaviour of the tenant's 4. PROCUREMENT POLICY - Set up procurement policy - Communicate procurement policy to stakeholders 5. PROPERTY MANAGEMENT - Add a sustainable paragraph based on actions to the property management agreement 6. ENVIRONMENTAL MANAGEMENT SYSTEM (EMS) - Develop EMS system for the portfolio - Integrate all relevant data and KPI's Sustainability reporting, sustainability report 2012 PROPERTY 7. CLIMATE INSTALLATIONS - Optimize climate installations where feasible based on 2011 analysis 8. WATER CONSUMPTION DATA - Start monitoring water consumption in m3 - Calculate spendings on water consumption in € 9. WASTE MANAGEMENT - Start tender for waste management procurement - Gather data on waste consumption in m3 and € CONFIDENTIAL AND PROPRIETARY
  • 65. Sustainability report 2012 Available at out website: WWW.DUTCHOFFICEFUND.COM CONFIDENTIAL AND PROPRIETARY
  • 66. CSR 2.0 FROM RESPONSIBILITY TO OPPORTUNITY
  • 68. CSR STRATEGIES: VALUE CREATION Innovation, growth & Cost competitive reduction & advantage Efficiency Compliance & Risk
  • 70. EXHIBIT 2: HARVARD 2012 VALUE OF CSR-COMPANIES
  • 71. EXHIBIT 3: THE RETAILER
  • 72. The Brands that Survive Will Be The Brands That Make Life Better
  • 73. EXHIBIT 4: THE NEW CONSUMER
  • 74. WHY? PURCHASE MOTIVATOR
  • 75. GREAT COMPANIES ARE STAKEHOLDER VALUE BUILDERS, NOT JUST SHAREHOLDER AGENTS “These companies pay their employees very well, provide great value to customers, and have thriving, profitable suppliers. They are also wonderful for investors, returning 1025% over the past 10 years, compared to only 122% for the S&P 500 and 316% for the companies profiled in the bestselling book Good to Great -- companies selected purely on the basis of their ability to deliver superior returns to investors.”
  • 76. THE CASE FOR CORIO • A growing number of consumers are choosing to buy sustainable brands. Retailers are adapting to this movement Drive consumer quickly. We should too, as a business moving from B2B to B2C & as a preferred partner for retailers preference • Sustainability is only adding to a brand’s succces if it is based on top performance. • Many retailers have sustainability goals of their own. A more sustainable brand is increasingly a more desirable brand. • We share our expertise in areas such as wellbeing and energy efficiency. This collaboration is broadening and Be the preferred partner deepening the relationships we have with retailers. for retailers • Sustainability is increasingly a retainer for existing customers and attracting new ones, hedge against changing tenant preferences • It will help us and our customers reduce exposure to energy price volatility Fuel sustainable • Sustainability is a fertile area for product and service development. It is allowing us to deliver new services /solutions with new consumer and retailer benefits. innovation • There is a proven relation between urban development levels and our profitability. Unemployment in our areas impact our rental growth directly. By helping people become more economically and socially viable, we help the vitality of our centres. Be a top social performer • Energy is a basic requirement in today’s and tomorrows society. High energy prices due to scarcity will destabalise the societies in which we operate and affect purchasing power of individuals. By developing sustainable solutions to local energy demands, we not only help society but secure our future. Be a top environmental • Managing our business sustainably reduces energy use, waste and water. It not only generates cost savings, it also saves the retailer money through lower service charges performer Translate sustainability • Higher rental income, lower obsolence risk, lower cost of capital, higher sales prices are a few research based findings related to sustainable assets value to economic value
  • 77. OVERVIEW CSR HIGHLIGHTS We embrace the concept of Shared Value: to fulfil our mission while advancing economic and social conditions in our communities. §  Included in DJSI Europe 2012 , ASPI, Vigeo, ESG leaders index §  Sector Winner in Transparency Benchmark by Dutch Ministry of Economic Affairs §  Corio included in the list of great places to work §  BREEAM Very Good certification for Tarsu (Turkey) §  ICSC Resource Award and a BREEAM Very Good rating for Forum Duisburg §  Galerie Dresden first shopping centre to have a BREEAM Excellent rating in continental Europe §  Groene Baksteen award 2012 §  Fastest mover in VBDO benchmark 9/25/12 Nevap lezing 77
  • 78.
  • 79. S4EEB: INNOVATION S4EeB aims to monitor and process sounds and noises for determination of occupancy to improve building energy management (BEM) and efficiency. • Integration with other HVACL systems • Interoperates with all ICT systems • Capable of learning from previous situations
  • 80.
  • 81. Let’s ask ourselves in these turbulent times… Can we, the real estate industry, afford to ignore the evidence?