Responding to
a global challenge

The critical role of
the real estate industry

Icade sets ambitious
low-carbon goals

Keeping global temperatures from rising more than 2°C, with an ideal target of 1.5°C, as recommended by scientific experts and the 2015 Paris Agreement on climate change.

This industry is responsible for 25% of greenhouse gas emissions in France and therefore has an important role to play in achieving this objective.

The Company is aiming for the 1.5°C target and is currently stepping up its commitments. To help reach this goal, it has set € 2.5 million and adopted a carbon offset policy.

Icade, a low-carbon pioneer

1st private office building to receive the HQE Construction certification in France

1st green leases and committees with tenants to address environmental issues

1st developer to obtain the E+C- label (positive energy and low carbon) for an office building

1st year of the Strategic Plan and CSR commitments for 2019–2022. CSR priority: low carbon

Icade has unveiled its Purpose which makes climate-related issues central to how it does business.

Designing, Building, Managing and Investing in cities,
neighbourhoods and buildings that are innovative, diverse,
inclusive and connected with a reduced carbon footprint.
Desirable places to live and work.
This is our ambition. This is our goal.
This is our Purpose.

Why has Icade strengthened its commitment
to mitigating climate change in 2020?

of CO2 emissions are produced by the real estate industry in France

The real estate industry is a large producer of greenhouse gases and has, as a result, a major impact on climate change. In response to this issue, France has set an objective to reduce its emissions.

Objective for France’s
real estate industry:
-49% reduction in CO2 emissions between 2015 and 2030 and carbon neutrality by 2050

Icade has prioritised its commitment to low-carbon transition. In 2020, the Company has stepped up its efforts by adopting new, more ambitious measures towards a 1.5°C pathway.

For Icade, this environmentally responsible approach is designed to benefit its customers and involve its partners and employees.

our impact
Working on reducing
our carbon footprint
with our partners
our residual emissions

1 Measuring
our impact


Emissions from building construction.

(scope 3)


Emissions from healthcare facilities construction.

(scopes 1 & 2)


Emissions from offices construction.

(scopes 1, 2 & 3)

145168 tonnes
of CO2

7907 tonnes
of CO2

0 tonnes of CO2
(no construction in 2020)


Emissions from energy consumption by healthcare facility operators.

(scope 3)


Emissions from energy consumption by office tenants.

(scopes 1, 2 & 3)


Emissions from energy consumption by buildings occupied by Icade employees in the Paris region.

(scopes 1, 2 & 3)

45553 tonnes
of CO2

13945 tonnes
of CO2

90 tonnes
of CO2

Icade’s total emissions in 2020:
212644 tonnes of CO2

2 Working on reducing
our carbon footprint
with our partners


100% of offices over 5,000 sq.m and 50% of homes to be E+C- certified with an E2C1 rating by 2022
The E+C- label attests to the high level of carbon and energy performance over the whole life cycle of buildings.

Improve building envelopes and opt for bioclimatic architecture

Use low-carbon, biosourced and
reused materials

Install energy-efficient equipment

Tap renewable energy sources

322000 sq.m
of wood-based new builds
completed or under development

Creation of a new branch Urbain des Bois

This new branch dedicated to wood-based construction will rely on the expertise of some of the new companies from our start-up studio Urban Odyssey and will enable us to industrialize the low-carbon building.

Icade gets

home buyers involved

Guarantee energy performance

Icade has implemented a quality-assurance process for its customers that guarantees the expected energy performance of buildings through commissioning.

Raise awareness of eco-friendly practices

The Property Development Division has provided future buyers with a digital user guide that offers tips on improving the energy performance of their homes.


Obtain HQE (High Environmental Quality) certification for 100% of new builds over 4,000 sq.m

Retrofit building envelopes to improve their energy performance

Improve the performance of new healthcare facilities by having pilot projects obtain the E+C- label

Enhance the climate resilience of our buildings

Greater Narbonne private hospital

It is aiming for HQE certification with an Excellent rating. The building features a bioclimatic design and its energy supply comes from district heating and cooling with 70% from wood sources.

of retrofitting work on the envelopes of
healthcare buildings resulted in their
improved energy performance in 2020

Icade gets

healthcare facility operators involved

Help to improve environmental performance

For its healthcare tenants, Icade is conducting studies to find ways to improve the energy performance of healthcare facilities and draw up a work plan accordingly.

Share best practices

At CSR & Innovation Committee meetings, Icade and its tenants co-develop action plans that promote innovation, patient and resident wellness as well as the environmental performance of the facilities.


Reduce carbon intensity by 45% between 2015 and 2025 (kg CO2/sq.m/year), in line with a 1.5°C pathway

Renovate buildings and install
energy-efficient equipment

Integrate low-carbon energy
in buildings

Take energy and carbon
into account when acquiring buildings and for all new builds

Enhance the climate resilience
of our buildings

Pulse project

This office building with a hybrid wood and concrete structure covers around 30,000 sq.m. It has obtained BBCA (low-carbon building) certification with an Excellent rating and the E+C- label with an E2C1 rating. The building is exemplary with 100% of its raised access flooring made from re-used materials.

Learn more
reduction in carbon intensity
between 2015 and 2020

Icade gets

office tenants involved

Develop green lease committees

These committees are focused on educating tenants and helping them reduce their water and energy consumption and waste production.

Offer soft mobility solutions

Provide a wide range of sustainable transport solutions: electric shuttle buses, charging stations for electric vehicles, ride-sharing, bicycle parking areas, etc.


Set an example and reduce our carbon footprint by involving our employees

Feature efficient buildings
and use renewable energy

Reinforce the soft

Develop a digital sobriety strategy

8 kg CO2 /sq.m/year

Carbon intensity of Corporate buildings in the Paris region in 2020,
a performance in line with a 1.5°C pathway

Icade gets

its employees involved

Involve and educate employees

Icade has provided a personal carbon footprint calculator, organised awareness-raising workshops and eco-friendly challenges and promoted soft mobility and digital sobriety.

A closer look at... the Climate Fund

Icade created its 1st Climate Fund aimed at taking concrete action. It makes it possible to fund carbon offset projects and low-carbon solutions that are innovative, sustainable and replicable. These solutions are designed to permanently change practices.

€2.5 million

Property Development

  • Replicable low-carbon innovations

Office Property Investment

  • Low-carbon solutions for existing buildings and new builds
  • Carbon offsetting in France with the Low-Carbon Label

Healthcare Property Investment

  • Studies conducted to improve the energy performance of healthcare facilities


  • Measures to reduce the carbon footprint and offset carbon emissions

How are the projects financed by the Fund selected ?

A special committee has been set up to decide how the funds are allocated. It consists of representatives from Icade’s divisions and its CSR & Innovation and Finance Departments.

3 Offsetting
our residual

What is a carbon offset ?

A carbon offset is a way to finance projects conducted by third parties whose activities reduce or sequester CO2 emissions in France and abroad (renewable energy, reforestation, waste management, etc.).

How Icade offsets its carbon emissions

An additional tool to help France achieve carbon neutrality

Icade uses offsetting as the last resort in its low carbon strategy after having reduced its emissions. The Company will solely use this mechanism to offset its operations already in line with a 1.5°C pathway and thus contribute to the country’s carbon neutrality. Emissions that have been offset are never deducted from our carbon footprint assessment.

Reliable projects

Icade only chooses projects that meet stringent standards (VERRA, Gold Standard, French Low-Carbon Label) sourced from carefully screened partners. These projects to reduce carbon emissions or create carbon sinks have social and environmental benefits that go beyond low carbon.

Early offsetting of emissions until 2023

From 2020, Icade has offset the carbon emissions of its activities aligned with a 1.5 ° C pathway by financing projects benefiting from the Low Carbon Label (forestry, agriculture). Aware of the time required to carry out these projects, Icade anticipates and invests from 2021 up to its residual emissions calculated until 2023 for its Office Property Investment activity.

Operating energy consumed by Office Property Investment buildings
29 765 tCO2 emitted
43 000 tCO2 expected

Operating energy consumed by Corporate buildings in the Paris region
191 tCO2 emitted

73000 tCO2offset (2019-2023)

Our partners of choice


La Société Forestière

Emanating from Icade’s start-up studio Urban Odyssey, Stock CO2 is dedicated to carbon offsetting in France. It is the intermediary between companies seeking to offset their carbon footprint and managers of projects bearing the Low-Carbon label in France.

This subsidiary of Caisse des dépôts is a leading player in the French forestry and wood industry. It has positioned itself as a manager of forestry projects that aim to obtain the French Low-Carbon Label.

Learn more about our strategy « Low Carbon by Icade »