KPIs for the purpose of non-financial data in the annual report

KPI owner

Amvest

Definition

Through an annual tenant survey the ARC Fund measures the property management quality and the customer satisfaction amongst its tenants. This concerns in particular the degree of satisfaction regarding the rented property, the surroundings and the service level. Important elements are the contact moments and availability of staff of the property manager, the service performance, the letting process (intake) and repair requests.

Scale / unity

Absolute score on a scale from 0 (minimum) to 10 (maximum)

Calculation

• The satisfaction score is calculated by Customeyes based on the answers provided by the participant in the survey
• For each question a maximum number of points is possible to be achieved (scale 1-10)
• The survey is a quantitative research and fully digital
• Each respondent counts even heavily when calculating averages
• The benchmark consists of 7 investors

Target

To achieve a tenant satisfaction score of at least 7.2 (out of 10) and outperformance of IVBN tenant satisfaction benchmark.

Scope

A sample of all the tenants from the ARC Fund who participated the questionnaire relating to tenant satisfaction

Frequency

Once a year

Reporting process

• The tenants fills out a score on a total of five components
• Customeyes measures the responses
• Customeyes delivers a report (dashboard) with the average score per component, propertymanager and complex including the number of responses

Systems and sources

Survey tool

Audit process

The tenant satisfaction score is measured completely independently by Customeyes based on the address list provided by Amvest. Addresses with no current tenants are not included. The same holds true for addresses for which the rental agreement has been signed less than 1 year prior to the start of the survey

KPI owner

Amvest

Definition

The GRESB score is an overall measure of ESG performance, represented as the number of stars

Scale / unity

Number of stars from 1 (minimum) to 5 (maximum)

Calculation

The GRESB score is calculated by the GRESB organization based on the answers provided by the participant in a survey. For each question a maximum number of points is possible to be achieved.
The number of stars are awarded based on the relative score in comparison with the other participants.

Target

To achieve the maximum 5 stars, with a minimum score of 88

Scope

The complete ARC Fund

Frequency

Once a year

Reporting process

• The survey is filled in by the ARC Fund with the burden of proof and argumentation for the answers given
• The GRESB organization checks the answers, the burden of proof and the argumentation and determines the score per question
• The GRESB organization reports to the ARC Fund the score of the Fund, how it is structured and how it scores in relation to the peer group

Systems and sources

Survey tool

Audit process

The GRESB organization checks the answers, the burden of proof and the argumentation according to its (high) standards and can visit the Fund for a further check

KPI owner

Amvest

Definition

The total energy consumption in kWh per m2 per year of all objects in the portfolio that have been in operation for the entire calendar year. The sum of the amount of electricity (in kWh), disctrict heating in GJ and gas (in m3) which is converted to kWh.

Scale / unity

kWh / m2 / year

Calculation

Electricity:
• The total energy consumption (KWh) per building is divided by the total Gross Floor Area in m2
• Three connections are monitored for each building: supply from the grid operator, electricity generated by the solarpanels (if applicable) and electricity supplied to the grid (if applicable)
• Net consumption = supply grid operator + (generated electricity PV panels - / - electricity supplied back to grid)
Gas:
• Gas consumption in m³ is converted into kWh (factor 1 m3 = 9.769 kWh), based on website www.energieconsultant.nl
• District steam generated in a centralized location for residential heating requirements in GJ is converted into kWh (factor 1 GJ = 277.78 kWh)
• In situations where there are no invoices available for energy consumed, we make use of two estimation methodologies, clustered data and postal code methodology. Under the clustered data method, Amvest requests a list of addresses for 15 objects in the same geographical area at once and proceeds to acquire the average energy data consumption of these objects from the energy supply company. The clustered data method falls under Score 2 of the PCAF Data Quality Score: "Primary data on actual building energy consumption (i.e. metered data) is available. Emissions are calculated using actual building energy consumption and average emission factors specific to the respective energy source (location-based). In some cases, the clustered data method cannot be applied and therefore Amvest requests the average energy data consumption for an entire postal code from the energy suppliers. For the postal code method there is no actual metered data of the assets available, but it is an estimation based on the location, it falls under Score 5 of the PCAF Data Quality Score: "Estimated building energy consumption per building based on building type and location- specific statistical data and the number of buildings available. Emissions are calculated using estimated building energy consumption and average emission factors specific to the respective energy source. PCAF (data estimation) coverage is 10.95% (using postal code method) for assets owned for entire year as well as 100% data coverage.

Target

Decrease the like-for-like energy consumption compared to previous year

Scope

All buildings in the ARC Fund, that are included in the annual report of the specific year (only buildings with a 100% data coverage are included). The buildings that are not in use for a full calendar year fall outside the scope as this may distort the data due to seasonal effects.

Frequency

Once a year

Reporting process

The energy consumption is measured based on the following data:
The total energy consumption in kWh per m2 per year of all objects in the portfolio that have been in operation for the entire calendar year.
The sum of the amount of electricity (in kWh), district steam/heat (in GJ) and gas (in m3) which is converted to kWh.
The total renewable energy which has been generated based on the output of the solar panels measured by Sungevity.

This information is collected by the asset manager. The information is obtained from smart meters, readings on locations and determined standard year usage of the energy/gas supplier.

The asset manager delivers the data to Cooltree. Cooltree puts the data in the standard calculation sheet which will process the data.

Systems and sources

ESG Data Template (managed by Cooltree, ARC Fund has access), Cushman & Wakefield as a provider of data and external portal (managed by Sungevity) for renewable energy

Audit process

Amvest will check all manual input to ensure sufficient evidence has been provided by the property managers. A sample will be checked for data provided through Cushman & Wakefield and Sungevity portal to ensure all data is accurate. The auditor will have access to the final calculation sheet.

KPI owner

Amvest

Definition

The total CO2 emissions in kg/m2 the buildings of the ARC Fund

Scale / unity

# kg CO2 / m2 / year

Calculation

Electricity:
• The amount of electricity in kWh per building is made clear via ESG Data Template of Cool Tree (see KPI Energy Use Intensity)
• The buildings for which 100% green electricity is purchased are taken from the total consumption in kWh
• The total amount of kWh of ‘grey’ electricity is converted to kg of CO2 in accordance with the emission factors of www.co2emissiefactoren.nl. 1 kWh = 0.5560 kg of CO2
Gas:
• The amount of gas in m3 per building is made clear via ESG Data Template of Cool Tree (see KPI Energy Use Intensity)
• The buildings for which 100% green gas is purchased are taken from the total consumption in m3
• The total amount of m3 natural gas is converted to kg CO2 in accordance with the emission factors of www.co2emissiefactoren.nl. 1 m3 natural gas = 1.88 kg CO2
• District steam generated in a centralized location for residential heating requirements in GJ is converted into 35,97 CO2
• For approx. 70-80% of the electricity consumption, the source is unknown so therefore the location based method is applied. The location based method uses the average distribution of green and gray gas of the energy supplier. This distribution is asked and provided by the energy supplier.

Target

Carbon emissions of 18.0kg CO2/m2 /year over 2024 or below.

Scope

All buildings in the ARC Fund, that are included in the annual report of the specific year (only buildings with a 100% data coverage are included, see coverage rate). The buildings that are not in use for a full calendar year fall outside the scope as this may distort the data due to seasonal effects. The metric only includes gas consumption for scope 1, electricity use for scope 2 and no scope 3 emissions.

Frequency

Once a year

Reporting process

• The energy consumption is compiled based on the data as described in the KPI Energy Use Intensity
• Subsequently, the tenants are asked which energy contracts have been concluded for gas and electricity
• The total CO2 emissions are determined based on energy consumption and contract types

Systems and sources

The systems used for the energy usage form the source

Audit process

• The data for the consumption is already checked by Cooltree and added in ESG Data Template of Cool Tree
• The conversion factors are checked on the website of www.co2emissiefactoren.nl

KPI owner

Amvest

Definition

Percentage of energy performance certificates of B and A or higher based on relative book value of the ARC Fund per calender year

Scale / unity

Absolute percentage

Calculation

The energy labels of all existing properties of the ARC Fund, corrected for property size

Target

93.9% A and B energy performance certificates

Scope

All operational properties at the end of the year within the ARC Fund

Frequency

Once a year

Reporting process

New buildings:
When a new building has been completed the technical manager contacts the contractor to request an energy performance certificate. The contractor hires a company to measure the building and determine the energy performance certificate, this is preferably done in Vabi format. When the energy performance certificate is determined the report is entered in the datawarehouse by the asset controller.

Existing buildings:
When an energy performance certificate is expired or the building has been improved a new energy performance certificate is requested by the technical manager. The technical manager hires a company to measure the building and determine the energy performance certificate, this is preferably done in Vabi format. The energy performance certificate is than entered in the datawarehouse by the asset controller.

Every quarter asset controller asks for an update of NIBAG regarding the current energy performance certificates and this is added to the datawarehouse.

Systems and sources

Datawarehouse
NIBAG

Audit process

Financial process of Amvest

KPI owner

Amvest

Definition

Percentage of the received GPR/BREEAM certificates per property in comparison to the portfolio

Scale / unity

Absolute percentage

Calculation

Percentage of the received GPR/BREEAM certificates per property in comparison to the portfolio and previous year based on bookvalue.

Target

90% of the portfolio certified

Scope

The portfolio of ARCF

Frequency

Once a year

Reporting process

The financial staff of the fund determines the properties with a certificate in relation to the total amount of properties and compare the percentage with previous year.

Systems and sources

Amvest data systems

Audit process

Financial process of Amvest

KPI owner

Amvest

Definition

The performed adaptation plans measures within the year for waterlogging, flooding, drought and heat stress.

Scale / unity

Adaptation plans performed

Calculation

n/a

Target

During 2025 determine that 10 meaures are applied at buildings for mitigation of climate risks determined for EU taxonomy.

Scope

All operational properties at the end of the year within the ARC Fund.

Frequency

Once a year

Reporting process

Climate risks relating to waterlogging, flooding, drought and heat stress for all operational properties are determined by the asset manager and ESG reporting manager. This risks are based on several publicily available climate risk maps and building specific features.
If a property has a high or very high risk, mitigation of the risk is needed. Adaptation is determined or planned for the upcoming years.

At the end of the year the ESG reporting manager determines whether adaptation is performed based on information of asset managers.

Systems and sources

EU taxonomy framework Excel

Audit process

EU taxonomy determination process within the company

KPI owner

Amvest

Definition

The realised operational vacancy rate of the ARC Fund per calender year

Scale / unity

Absolute percentage

Calculation

The average operational vacancy rate of all existing properties of the ARC Fund, corrected for property size (excluding properties built in 2023/2024)

Target

<2.0%

Scope

All existing properties of the ARC Fund, corrected for property size (excluding properties built in 2023/2024)

Frequency

Once a year

Reporting process

The financial staff of the fund calculates the operational vacancy rate for all properties and reports about it in the annual report

Systems and sources

Amvest financial systems

Audit process

Financial process of Amvest

KPI owner

Amvest

Definition

The end-year portfolio allocation of the ARC Fund in the mid-priced segment

Scale / unity

Absolute percentage

Calculation

The percentage of homes (both single-family and multi-family) based on theoretical rental income within the ARCF allocated in the mid-priced segment compared to the ARCF portfolio

Target

Minimum of 75%

Scope

The allocation in mid-prized houses (both single-family and multi-family) of the ARC Fund per year-end.

Frequency

Once a year

Reporting process

The financial staff of the fund calculates the portfolio allocation of the fund and reports about it in the annual report

Systems and sources

Amvest financial systems

Audit process

Financial process of Amvest