As partner in the development of parking facilities we can influence the sustainability. In more than 90% of the cases we can apply the Cradle to Cradle principle. Moreover, we do not build ourselves, but we create throguh public-private partnerships.
Q-Park wants to set a standard for car parks and has taken the initiative for this in the market. In 2013, a start was made on the development of BREEAM guidelines for existing parking facilities as well as those to be constructed. At the end of 2013, beta versions of both labels were presented and we have conducted a number of tests. The final approval from BREEAM is expected in the spring of 2014. We are proud that we can contribute in this way, not only to our own investment property, but also to the sustainable development of the parking industry as a whole.
It has been agreed with the Dutch Green Building Council (DGBC) that they, in consultation with BREEAM, will encourage Green Building Councils in other European countries to include the BREEAM labels in the regulations in their country. If this succeeds, Q-Park will be able to have parking facilities it owns in other European countries certified in the future.
In addition to our efforts for BREEAM, we are putting considerable effort into finding ways to reduce energy consumption in parking facilities. Lighting in particular is a major factor in these buildings. Installing energy-saving lighting and movement detectors helps to reduce energy consumption substantially.
Q-Park is a member of the association of Institutional Property Investors in the Netherlands, IVBN. We are represented in the Sustainability committee. Two years ago, this committee advised the IVBN executive committee to make use of the BREEAM label for certifying the sustainability of members' investment property. This proposal was adopted by the members.
Q-Park's shareholders also consider the degree of sustainability of our investment property portfolio to be important. At the request of several shareholders, Q-Park participates annually in GRESB, an independent, scientific benchmark which assesses the sustainability policy of investment property funds and investment property portfolios worldwide. This enables them to rank our score against the GRESB scores in their own study of the ESG policy (environmental, social, governance) of their funds.