Pandox strives to minimise the environmental footprint of its operations by using natural resources such as energy, water and materials in a responsible and sustainable manner.

We do this by identifying and docu- menting the environmental impact of our property investments and by continuously implementing e ciency and improvement projects throughout our operations.

Pandox has an Environmental Policy which describes what expectations we have of ourselves and our business partners. The Environmental Policy is included in the Group-wide online training programme. The Environmental Policy also forms a part of every new employee’s workplace orien- tation and, as of autumn 2016, is included in all employment contracts. Pandox also expects its business partners to respect this Environmental Policy. Pandox applies the Precautionary Principle.

A reduced environmental footprint in cooperation with strong operators 

Pandox works actively with a number of tenants that have been implementing e ec-

tive environmental measures for many years, such as Scandic Hotels Group. Shark, the joint investment project con- ducted by Pandox and the Scandic Hotel Group, is an example of a close partnership that has contributed to a reduced environ- mental footprint. During the years 2011– 2017 Pandox and Scandic together refur- bished and upgraded 40 hotel properties for a total of around MSEK 1,600, of which Pandox’s share was approximately MSEK 1,000.

Within this project, materials and tech- nical solutions with low environmental impact were chosen – for example, water-saving toilets and taps, self-adjust- ing ventilation systems with heat recovery, key card activated lightning, under oor heating with timers and other modern heating systems. In addition, the project included new windows and switching to LED lighting in most hotel properties. The project has reduced the use of both energy and water.

Scandic Backadal in Gothenburg and Scandic Sundsvall Nord are two hotels included in the investment programme where clear savings have been achieved.

Between 2010 and 2017 Scandic Backadal’s total annual energy consumption decreased by 27 percent. For Scandic Sundsvall Nord the reduction was 25 percent. Expressed as energy consumption per guest night, the reductions were 38 percent and 32 percent respectively.

Environmental certification

The majority of Pandox’s hotel properties have some kind of environmental certi ca- tion (see pages 72–79). The Company’s long-term goal is for all the hotels to have environmental certi cation in order to increase the quality, and thus the e ciency, of Pandox’s overall environmental work. In Operator Activities Pandox is able to fully in uence the process, and here Green Key certi cation is being implemented through- out the portfolio. In Property Management there are various kinds of environmental certi cation, of which the Nordic Swan eco- label is the most common since Scandic has chosen this system.

Reporting to CDP

In 2017 Pandox reported its emissions of greenhouse gases to the Carbon Disclosure Project (CDP) for the rst time. The result (Scope 1–2) was a score of C for the report- ing year 2016.

ISO 14001

In 2017 Pandox’s head o ce was certi ed to the environmental management system ISO 14001, along with Property Manage- ment in Sweden and Denmark. The envi- ronmental management system helps sys- tematise and structure how Pandox works on maintenance and investment projects. Potential energy savings can then be identi- ed and sustainable choices made. The goal is for the operations in other countries also to be certi ed to this standard.

Green Key

At the end of 2017 seven hotels within Operator Activities were Green Key certi- ed, and the certi cation of a further nine hotels was in progress. The majority of Pandox’s hotels within Operator Activities are in countries outside the Nordic region where Green Key is a well-known environ- mental certi cation system. Green Key- certi ed hotels adhere to strict guidelines which are set by the Foundation for Envi- ronmental Education (FEE) and custom- ised to national conditions. The certi ca- tion requires annual follow-up and control, with requirements of thorough documenta- tion of environmental and social factors, and involves the management at each hotel as well as at the business area level. Green Key also has a strong emphasis on provid- ing information to and involving guests in the hotel’s environmental and sustainabil- ity e orts, and requires sta to be well informed and trained within the area of sustainability. A Green Key certi ed hotel must continuously adapt its operations to new sustainable methods of operation as well as to new technology, to ensure that the total environmental impact is reduced through lower usage of energy and water as well as through less waste.

Nordic Swan

At the end of 2017 a total of 45 out of 50 hotel properties operated by Scandic had been awarded the Nordic Swan ecolabel. The remaining hotels are expected to gain

the Nordic Swan ecolabel in 2018. The Nordic Swan is the leading ecolabel in the Nor- dic region and is thus appropriate in view
of the hotels’ geographical locations and main guest base. Like Green Key, the Nordic Swan has tough criteria concerning energy, water, chemicals, waste management and recycling. The Nordic Swan is also an important sustainability tool for public and private procurement and purchasing.

Increased share of renewable energy 

The share of renewable energy used in Oper- ator Activities increased in 2017. In March 2017 Pandox changed its electricity supplier for six hotels in Belgium, thereby switching to 100 percent renewable energy from wind. In Germany three hotels switched to green electricity when existing energy contracts expired. The remaining hotel in Germany switched to green electricity on 1 January 2018. The switch contributed to a reduction in total emissions of greenhouse gases – for a comparable portfolio in Operator Activi- ties – of around 42 percent compared with January 2016. Measured in relation to the number of guest nights, emissions of green- house gases reduced by 18 percent.

Charging points for electric cars 

A number of the hotels within Operator Activities have installed charging points to facilitate and promote the use of eco- friendly cars. In 2017 work on creating space for more charging points continued.

We measure and follow up 

Pandox has implemented information sys- tems for the Belgian hotels within Operator Activities to measure water and energy consumption, with the aim of improving e ciency. The systems immediately regis- ter any discrepancies in daily resource con- sumption, making it possible to catch any water leaks early on to ensure quick dam- age limitation and thus minimise the costs of any clean-up and repairs caused by the water leak. The systems thus contribute to limiting the risk in everyday operations, while also forming a basis for more e cient use of resources in line with Pandox’s goals.


Energy usage within Pandox (MWh) (GRI 302-1)      
   2015 2016  2017 
Fuel from non-renewable sources  25 463  26675  25610
 - Diesel  149  148  116
 - Natural gas  25313  26527  25494
 Fuel from renewable sources  1901  2229  2411
 - Wood pellets  1901  2229  2411
 Electricity  25467  24460  19229
 District heating  7116  7680  2656
 District cooling  42  59  0
 Total energy usage  59988  61101  49905
 Greenhouse gas emissions (t CO2e) (GRI 305-1 and GRI 305-2)      
   2015  2016  2017
 Scope 1  4706  4930  4723
 - Diesel  37  37  28
 - Natural gas  4669  4893  4695
 Scope 2  8505  7466  2551
 - Electricity - Market based method  7762  6779  2207
 - Electricity - Location based method  6141  5813  5511
 District heating  739  683  343
 District cooling  3  4  0
 Outside of scopes (biogenic emissions)  190  223  31
 Wood pellets  190  223  31

Reporting principles
Pandox greenhouse gas reporting includes all own-operated hotels. Emissions are calculated in accordance with the Greenhouse Gas Protocol (GHG Protocol) applying the operational control consolidation method. The base year for our reporting is 2015 which was the first year for which Pandox calculated greenhouse gas emissions for the group.

Activity data is based on information from invoices, real-time meters and suppliers. Emission factors are drawn from Defra with GWP values from IPCC (AR4)* being applied. Energy conversions are performed using publically available conversion factors. Greenhouse gases included in the reporting are carbon dioxide (CO2), methane (CH4) and nitrous oxide (N2O).

Greenhouse gas quantification is subject to inherent uncertainty because of incomplete scientific knowledge used to determine emissions factors and the values needed to combine emissions of different gases. * Intergovernmental Panel on Climate Change (IPCC) Fourth Assessment Report (AR4) over a 100-year period.