Sustainable investment
Eastnine’s overarching target is to create a sustainable, attractive total return on investment for its shareholders. The Company’s sustainability efforts should contribute to that target. To assess Eastnine’s progress and status in this prioritised sustainability area, the Company monitors the following key performance indicators.
EU Taxonomy-aligned property portfolio
The ‘EU Taxonomy’ is the EU’s classification system for identifying environmentally sustainable economic activities, and is used by investors and financial institutions to assess green assets and climate risks. For properties, the assessment is mainly linked to energy performance and defined technical screening criterias.
Eastnine utilises the EU Taxonomy as an analytical tool to assess the portfolio’s alignment with these requirements, and to respond to the capital market’s increasing focus on energy-efficient buildings.
Assessment of EU Taxonomy alignment
Refers to the climate objective of climate change mitigation, based on energy performance.
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97 per cent (82) of turnover
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97 per cent (81) of operating expenditure (OpEx)
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94 per cent (71) of capital expenditure (CapEx)
Highest rating in the 2026 GRESB assessment
GRESB is the leading global benchmark for sustainability in the real estate sector and is used by institutional investors to evaluate and compare a company’s governance, risk management and actual sustainability performance.
The 2026 assessment
Eastnine achieved a GRESB Score of 91.5 out of 100 and received a five-star rating, the highest level in the GRESB rating system. A five-star rating is awarded to participants ranked among the top 20 per cent in the GRESB global benchmark. Eastnine received 28.2 out of 30 possible points in the Management component and 63.2 out of 70 possible points in the Performance component.
The assessment is based on policies, processes and measured results.
"We are pleased with the result, particularly as maintaining a five-star GRESB rating requires continuous improvement. With a growing portfolio and our new SBTi targets, it is important that we continue to evolve and never take these results for granted. That is where our focus lies."
Kestutis Sasnauskas, CEO of Eastnine.
Maximising green financing
Eastnine strive to prioritise green financing if available.
Green financing constituted 88 per cent (76) of interest-bearing liabilities at the end of 2025. The proportion of green loans increased during the year, mainly due to Eastnine’s improvement measures related to the energy performance of existing properties.
88%
green financing
ISS STOXX Corporate Rating - B
Eastnine’s ISS STOXX Corporate Rating is B.
About ISS STOXX Corporate Rating
The Corporate Rating assesses companies across their value chain and assigns a Performance Scale rating from A+ to D‑, based on their sustainability performance on an absolute best-in-class basis. The methodology covers 8,600+ companies globally and is widely used by investors to evaluate sustainability-related risks, opportunities, and impacts.
Target: reduced climate impact
Energy-efficient operations, fossil-free energy sources and reduced climate impact within the value chain are central to Eastnine’s sustainable business model. Emissions are reported in accordance with the GHG Protocol, which covers Scope 1, 2 and 3 emissions. The Company applies an ‘operational control approach’ that includes all properties over which Eastnine has operational control during the calendar year.
Outcome 2025
Total emissions increased for the full year 2025 compared with the preceding year, mainly due to the inclusion of the properties Warsaw Unit and Nowy Rynek E. However, emissions decreased in the comparable portfolio. Emissions intensity—measured as Scope 1 and 2 emissions per sq.m.—decreased significantly by 55 per cent, mainly driven by improvements in energy efficiency and the phase-out of gas heating. Nevertheless, the inclusion of the properties in Poland with higher emissions factors resulted in a largely unchanged emissions intensity in 2025 compared with the preceding year.
| Emissions | Emission sources | 2025 | 2024 | Comments |
|---|---|---|---|---|
| Scope 1 | Total | 84 | 394 | The reduction in Scope 1 emissions is primarily due to the phase-out of gas heating. Year-to-year variability in refrigerant leakage is due to irregular replenishment intervals; as a result, a direct percentage comparison between the years is not feasible. |
| Refrigerant leakage | 38 | 266 | The variability in refrigerant leakage observed between years is attributable to irregular replenishment intervals, and is influenced by the number of properties requiring replenishment within each period. Consequently, a direct percentage comparison between the years cannot be made. | |
| Natural gas | 46 | 128 | The significant decrease in emissions is mainly due to the phase-out of gas heating in Valdemara Centrs. Remaining gas use is limited to a small commercial building adjacent to the office property, Alojas Biroji. | |
| Scope 2 | Total | 3,217 | 1,831 | On a comparable basis, emissions decreased by 23%, driven by reduced district heating consumption in Nowy Rynek D and reduced emissions factors in Lithuania. The overall increase in 2025 is due to the inclusion of Warsaw Unit and Nowy Rynek E, which together accounted for approximately 56% of district heating emissions. |
| District heating | 3,217 | 1,831 | ||
| Electricity (market-based) | 0 | 0 | A full 100% of purchased electricity is sourced from renewable energy, resulting in zero market-based Scope 2 emissions. | |
| Electricity (location-based) | 6,766 | 1,878 | The increase is primarily due to the inclusion of Warsaw Unit (62% of the total) and Nowy Rynek E (13% of the total) in Poland, where emissions factors for electricity in the local grid are high, owing to a carbon-intensive energy mix. On a comparable basis, emissions decreased by 13%. | |
| Scope 3 | Total | 2,552 | 2,541 | The increase is mainly attributable to tenant customisation projects and the procurement of goods and services. |
| Tenant improvements and renovations | 950 | 525 | A major tenant improvement project for Vilnius municipality at property 3Bures-1,2 contributed significantly to the increase. Emissions from capital goods fluctuate annually depending on relocation projects and, therefore, reflect project volume rather than structural change. Key performance indicators (KPIs) are monitored at the project level against individual baselines, but a directly comparable percentage change cannot be calculated. | |
| Energy-related/Fuel-related emissions | 849 | 1,315 | Pertains to emissions arising in the supply chain during the production of energy and fuels used (Scope 1 and 2). These figures are not directly comparable with the preceding year due to adjustments in emissions factors during 2025. | |
| Business travel | 28 | 22 | Pertains to air travel, taxi journeys and hotel stays related to business travel. The data is based on actual data combined with standard estimates. The increase during the year is due to more trips to Poland and an overall rise in employee travel. A comparable percentage change cannot be calculated. | |
| Purchased goods and services | 725 | 355 | This calculation is spend-based. The increase in emissions during 2025 is primarily due to the inclusion of Warsaw Unit and Nowy Rynek E. On a comparable basis, emissions decreased by 3%. | |
| Total (Scope 1, 2 & 3) |
5,852 | 4,766 | ||
| Total (Scope 1 & 2) |
3,301 | 2,225 | ||
| Emissions intensity (Scope 1 & 2) |
kgCO₂e/sq.m. | 9 | 9 | Emissions intensity in a like-for-like portfolio declined by 55%, but the inclusion of Warsaw Unit and Nowy Rynek E—acquired in November and June 2024, respectively—entailed a largely unchanged total emission intensity level in the portfolio—9.3 kg CO₂e/sq.m., compared with 9.4 kg CO₂e/sq.m. in the preceding year. |
Scope 1, 2 and 3
Scope 1 covers direct emissions from property operations, primarily natural gas for heating and refrigerant leaks. Variations in refrigerant emissions are driven by refilling only as needed, which causes fluctuations between reporting years.
Scope 2 encompasses emissions from purchased electricity, district heating and district cooling. Emissions are reported using both market-based and location-based methods. Eastnine exclusively purchases renewable electricity, reporting zero market-based emissions for electricity. However, district heating remains the largest emissions source, influenced by each country’s energy mix.
Scope 3 encompasses tenant customisations and renovations, purchases of goods and services, energy-related emissions within the supply chain, and emissions associated with leased assets. Tenant electricity consumption is also included under Scope 3. Since all electricity procured by Eastnine is 100 per cent renewable, no market-based emissions are reported.