Strategy

On 25 September 2015, the United Nations approved the Agenda 2030 for sustainable development, with its 17 Sustainable Development Goals (SDGs), structured in 169 targets to be achieved by 2030. This was a historic event because:

a clear vision of the unsustainability within the current development model was stated, not only at the environmental level, but also in economic and social terms;
all States are called upon to contribute to the effort to move the world onto a sustainable path, by defining their own development strategy enabling the achievement of the SDGs, and reporting the results obtained within a process coordinated by the UN;
the Agenda’s implementation requires the strong engagement of all members of society, from enterprises to the public sector, from civil society to charitable institutions, and from universities and research centres to the media and cultural organisations.

Through COIMA Roots, a holistic vision for responsible investment and real estate development and management, COIMA takes a strategic approach to sustainability criteria by including it in its investment strategy. COIMA aims to create high quality property assets with sustainable long-term value growth.

COIMA focuses on careful planning during portfolio acquisition and management. Property or portfolio redevelopment or optimisation works are assessed in detail, from the due diligence phase prior to the acquisition. Multiple scenarios, ranging from mere optimisation to complete redevelopment, are analysed at this stage.

The assessed scenarios include environmental, technical and economic analysis to identify key value enhancement and risk mitigation aspects. The approach of the COIMA platform, in line with international best practice, is pioneering the Italian market and has helped strengthen industry players’ attention towards a building’s environmental performances, its energy management and the integration of the circular economy principles in the real estate sector.

COIMA ROOTS: A HOLISTIC VISION

COIMA Roots incorporates the Sustainable Development Goals (SDGs) promoted by the United Nations, to which COIMA has decided to contribute (to 8 of the 17 SDGs in particular) by launching programmes, with a particular focus on people and the management of natural resources.

Through this approach, COIMA aims to demonstrate its responsibility to its stakeholders. Each of the model’s eight “roots” (nature, beauty, knowledge, inclusion, human, happiness, service, ethics) identifies an area of action and the improvements which can be achieved on the most relevant ESG aspects.

COIMA Roots is supervised by the Sustainable Innovation Committee with the aim of ensuring that every investment in every regeneration or development project, and in all property operations and management phases, is always coherent with the strategic vision.

COIMA CHARTER

To give substance to COIMA Roots theories, COIMA launched COIMA City Lab, a think-tank which works closely with the Sustainable Innovation Committee and the Advisory Board. The aim of COIMA City Lab is to draw up the guidelines for creating the urban spaces of the future, both for projects to be handled by COIMA itself and as a cultural contribution for the development of Italy in general. The COIMA City Lab team comprises architects and professionals with international experience and specific skills and expertise in city design: Stefano Boeri (Stefano Boeri Architetti), Elizabeth Diller (Diller Scofidio + Renfro), Gregg Jones (Pelli Clarke Pelli Architects), Lee Polisano (PLP Architecture), Carlo Ratti (Carlo Ratti Associati), Cino Zucchi (CZA Cino Zucchi Architetti), Christopher Choa (AECOM) and COIMA senior management.

The think tank’s first contribution was presented during COIMA Real Estate Forum 2019: “Undertaking for great cities” (COIMA Charter). The Charter is a proprietary measurement and monitoring tool which uses specific KPIs to evaluate qualitative performance in three specific areas - protection, inclusion and growth - and thus establish investment contributions in each area. The COIMA Charter is used to define the ratings for an “as is” starting scenario and a “target” scenario, involving an analysis of the areas for possible improvement which can be integrated in the upgrading and development process. The application of the evaluation model to the two scenarios produces a rating in the form of a percentage score. The Charter is to be updated in response to the recent European regulations (EU 852/2020 and EU 2088/2019) to include the sustainability requirements defined and the evaluation of ESG risks with direct or indirect impact on the investment.

COIMA Charter