Sustainability, social responsibility, human rights and environmental issues are important to the company's strategy, and we make high demands on ourselves and our partners when it comes to these issues. We respect human rights in all respects and aim to have good relations with the communities in which the company's operations reach and to have a positive impact on them. We always comply with at least applicable laws regarding environmental issues and are committed to having the least negative impact on our environment.
The company and its employees aim for continuous improvement in the field of environmental protection. The company makes every effort to reduce environmental impact, including by ensuring that tenants comply with legal requirements and regulations regarding environmental issues, drawing tenants' attention to environmentally friendly solutions that are available, and encouraging them to monitor environmental developments and implement innovations in their operations. Kaldalón emphasizes sustainable operations in decision-making and policy-making. That the company's operations have a positive impact on and strengthen society, that the resources at the company's disposal are well managed, including the environment and nature, and that the company achieves its economic goals.
Sustainability Policy
Kaldalón’s Rules of Ethics and Sustainability Policy1 set out the Company’s sustainability aims, describe how it intends to implement sustainability in its core business, and its include goals. Kaldalón sets ambitious goals both for itself and all its stakeholders. Human rights and environmental factors are the sustainability issues Kaldalón is most focused on and are considered material sustainability issues in Kaldalón’s operations. The Company’s governance policy is based on the Guidelines on Corporate Governance,2 published by the Iceland Chamber of Commerce, Nasdaq Iceland hf. and the Confederation of Icelandic Employers (6th edition, issued 1 July 2021 and hereafter “the Icelandic Guidelines on Corporate Governance”). Kaldalón is a participant of the UN Global Compact and adheres to its ten principles, actively working towards human rights, labor, environment and anti-corruption through its operations. Going forward, Kaldalón aims to determine which SDGs are most relevant for its operation and implement two of them in the Company’s strategy. In 2023, Kaldalón was the first real estate company in Iceland to achieve BREEAM certification of a hotel. SAND Hotel and related properties of Kaldalón at Laugavegur 32-36 in Reykjavík were awarded BREEAM In-Use environmental certification. This was the first step on Kaldalón’s journey to increase the weight of green buildings in its portfolio.
Environment
Kaldalón contributes towards improvement of the environment through conversation with and education of its lessees. Lessees of environmentally certified facilities must adhere to certain environmental obligations and the Company also includes an environmental section in its standard rental agreements that sets outs requirements for all lessees. All newly made rental agreements apply to the standard.
One of Kaldalón’s most important environmental projects, besides growing its green building portfolio, is to measure greenhouse gas (GHG) emissions from its operations. The Company is aiming to define 2024 as its base year for setting GHG emission reduction goals. Kaldalón is responsible for its own emissions and its lessees are responsible for their emissions. Nevertheless, Kaldalón tries to exert a positive influence on its lessees through education, installation of measurement devices for energy consumption, and through its lease agreements. In another initiative, Kaldalón is improving its waste management system. Waste is mainly produced on building sites and the Company is working to reduce the volume of waste that goes to landfill and increase the percentage of sorted waste.
