Our own office operations also have an impact on the environment. CO2 emissions are primarily from the energy use of our seven offices, air travel and the emissions from company cars. We want to lead by example and inspire our tenants and client investors to invest in sustainability and green stores. We have therefore implemented a number of measures to reduce the environmental impact of our office operations.
50% CO2 REDUCTION IN 2020
In 2008, we set ourselves a target of 4,842 kgCO2 per employee for 2020, which we met in 2011. We set a new target in early 2016: to reduce our rates to 2,700 kgCO2 per employee. This represents a 50% reduction compared to the 2009 baseline. Our performance in 2017 was 3,662 kgCO2 per employee.
We expect to achieve the target by measures such as a stricter company car policy and continuously improving the environmental performance of our offices. In 2016, we lowered the emissions cap for company cars from 140 to 125 gCO2 per km. From 2018 onwards, the maximum CO2 emissions permitted is 110 gCO2 per km. In 2019 we will review the guidelines again for the following years. The offices in Brussels and Düsseldorf will relocate in 2018 to locations with significantly less square meters and where a number of measures will decrease the environmental impact of our offices.
We installed solar PV panels on the rooftop of our Amsterdam office in January 2017. These generated more than 67% of the electricity consumed in the office, including charging the hybrid and electric vehicle fleet. This even exceeded our expectations and will help us further reduce CO2 emissions. This investment of circa €70,000 will pay itself back in just under 10 years, a trade-off between the financial return and environmental impact that did not deter us. We are convinced that the positive impact on clean energy consumption will set an example for our teams and convince them that these initiatives are important.