Nature Report: combining climate and biodiversity

How did the Nature Report come about?

Jean-Eric Fournier: To talk about the genesis of the Nature Report, we first need to go back over its definition. It’s a report that follows on from the Climate Report as published by Covivio in 2022 and 2023, but with the added dimension of biodiversity. Climate has an impact on biodiversity and vice versa. By combining climate and biodiversity in the Nature Report, we are expressing our convictions, our commitments and also our ambitions on these issues. This Report aims to be as close as possible to the recommendations of the TCFD on carbon and the TNFD on nature.

Nicolas Moreau: The Nature Report is the result of two years’ work. We first had to structure and establish our biodiversity policy. To do this, we carried out an analysis of our biodiversity footprint. How did we do this? By implementing a robust scientific approach based on the Global Biodiversity Score (GBS) methodology, which aims to measure the impact of activities along the entire value chain. Then, during various workshops organised at European level, we identified the main levers and objectives for reducing these impacts (choice of materials, reduction of land artificialisation, etc.). An operational deployment plan  now being drawn up, in coordination with our teams in France, Italy and Germany.

How are you going to roll out the Nature Report?

Nicolas Moreau: Our Nature strategy is based on 21 actions built around 3 pillars designed to cover our main impacts. Among the major actions, we find the subjects of artificialisation, reducing the consumption of resources (energy, water, raw materials), the circular economy, as well as raising awareness and involving stakeholders.

Jean-Eric Fournier: The monitoring and implementation of Covivio’s Nature strategy will also be based on existing CSR governance bodies: the CSR Committee, which will oversee the Nature strategy, and the Sustainable Development Department, which will be responsible for its operational management, in coordination with the Group’s various activities and countries. In addition, a Nature Committee will be set up with key players within the teams involved in deploying the actions.

What impact will this report have on Covivio?

Nicolas Moreau: Crossing subjects and linking biodiversity, climate and carbon has a real impact on the decisions we take: it allows us to go a step further and think globally. And that will obviously have an impact on our carbon trajectory. The Nature Report also enables us to include the subject of biodiversity in the discussions we have with our various stakeholders, particularly investors and customers, who are asking for more information on the subject.

Jean-Eric Fournier: This Nature Report marks a new stage for Covivio, which is now capitalising on the groundwork laid down over many years, and has now reached a level of maturity that enables the Group to set itself new ambitions, particularly with regard to climate change and biodiversity. By defining an integrated Nature strategy, i.e. one that is deployed at Group level across our three asset classes of offices, hotels and residential, Covivio is raising this issue to the same level as carbon.