Bouwinvest believes it has a responsibility to make sure that its investments meet sustainability criteria and that we operate in a responsible and ethical manner.

Close cooperation with our tenants and other stakeholders is an important element of our sustainability strategy.

Monitoring environmental performance data (energy and water consumption, greenhouse gas emissions and waste) is an important part of managing sustainability issues.

Benchmarking based on the Global Real Estate Sustainability Benchmark (GRESB) enables the Retail Fund to obtain more insight into the opportunities to improve the sustainability performance measured at fund level.

Bouwinvest Dutch Institutional Retail Fund N.V. (the Retail Fund) was established in 2010. Stichting Bedrijfstakpensioenfonds voor de Bouwnijverheid (bpfBOUW, the pension fund for the construction industry) is the Retail Fund’s anchor investor.

The Retail Fund is structured as an investment company with variable capital, as defined in article 2:76a of the Dutch Civil Code, with its corporate seat in Amsterdam, the Netherlands.

Risk management and compliance are independent functions within Bouwinvest. Their role is to identify, assess, advise on, monitor and report on compliance and other risks faced by the Retail Fund.

Bouwinvest has implemented a risk management framework based upon the principles of The Committee of Sponsoring Organizations of the Treadway Commission (COSO).

Within the domain of the Retail Fund, we distinguish the following risk clusters: Allocation risks Generic sector risks Specific sector risks Management risks Allocation risks Following the decision to invest in real estate, an investor has

All amounts in € thousands unless otherwise stated  Note20142013 Gross rental income635,662 37,620  Service charge income61,930 1,982  Other income 159 207 Revenues