Fiera Real Estate | Refresco Net Zero Audit

Fiera Real Estate is a leading global investment management company. It is committed to reaching Net Zero by 2035 across Scope 1, 2 and 3, including emissions from their managed funds.

Greengage Environmental has been appointed by the client, Fiera Real Estate, to conduct the net zero audit for a carbonated beverage manufacturing facility and provide tailored recommendations to eliminate fossil fuel use and achieve their net zero goals.

Services were provided across the following key deliverables:

1. Baselining: Annual consumption data was collected for the property. The energy and carbon baselines were established. Benchmarks were used to segregate the building energy use from the manufacturing processes.

2. Site survey: A site survey was conducted to assess the building fabric, services, building operations and management and industrial processes to identify energy conservation measures. The manufacturing process were observed on site to identify the windows for opportunity to streamline and reduce consumption.

3. Energy reductions measures: Based on the data provided by the client and the observations on site, bespoke energy reduction measures were suggested for the building. A combination of retrofits, energy monitoring and management, and operational practices on site have been suggested to reduce consumption. Additional details for each energy conservation measure have been set out, with information on the recommendation, the anticipated improvement, next steps, risks, and assumptions. A summary table setting out the capital costs, savings and payback is included.

4. Minimising fossil fuels: The feasibility of complete electrification of industrial processes at Refresco were analysed and recommendations were made to help the client understand the opportunities and risks associated with decarbonisation of industrial processes.

5. Green infrastructure: The opportunities associated with installing green infrastructure solutions were explored, with estimated energy savings and payback in addition to benefits such as carbon sequestration, biodiversity benefit and reduction of urban heat island effect.

The final output for the assessment was a net zero audit report, outlining the performance of the building against industry benchmarks, its potential to reach net zero and a list of retrofit and optimisation measures that could be applied to transition to net zero, along with their associated savings and paybacks. Separately, a summary of each measure was provided to understand the rationale and achieved savings.


“We are extremely pleased with the delivery of the net zero carbon audit by Greengage Environmental. Their comprehensive analysis and insightful recommendations have been instrumental in identifying the potential for decarbonisation for the asset”.

Josephine Benthall

Associate, Sustainable Investing, UK

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