Lamda Development is the undisputed leader in the shopping centres management sector (The Mall Athens, Golden Hall, Mediterranean Cosmos). Its assets portfolio also includes office spaces, residential developments, as well as the Flisvos Marina. Lamda Development has undertaken the integrated metropolitan redevelopment of the area of the former ‘Hellinikon’ airport, which will be the largest private investment in Greece and the largest urban redevelopment project in Europe.
A key objective of Lamda Development's initiatives is to contribute to tackling climate change by reducing its environmental footprint through full compliance with the highest environmental standards. With the environmental responsibility initiatives that it adopts, Lamda Development sets environmental as a key parameter in every business and commercial development, considering the importance of the reasonable use of all resources. The adoption of best practices in the use of natural resources, the reduction of greenhouse gas emissions, solid and liquid waste management, circular economy, and protection of ecosystems and biodiversity is of strategic importance in this area.
Environmental responsibility is of utmost importance to the Group, with our actions focusing on decarbonisation and circularity. To this end, we apply Environmental Management Systems and Building Operation Monitoring Systems to the Group's investment properties, while we have proceeded with the certification of The Ellinikon's Environmental Management System according to ISO 14001:2015. At the same time, aiming at a holistic approach to sustainable development issues pertaining to The Ellinikon's under construction buildings, all commercial developments as well as numerous residential developments follow the international LEED sustainable building standard.
We also assessed the Group's carbon footprint in accordance with the ISO 14064-1:2018 and GHG Protocol specifications, including for the first time Scope 3 indirect greenhouse gas emissions and a more complete capture of Scope 1 and Scope 2 emissions.
At the same time, Flisvos Marina applies procedures with ISO 45001:2018, ISO 9001:2015 and ISO 14001:2015 certification, concerning an integrated solid and liquid waste management system, systematic sea quality control and educational activities on environmental issues of ports, winning important honors such as Blue Flag and 5 Golden Anchors from respective European programs.
Finally, The Ellinikon development, with the creation of a 2,000,000 sq.m. Metropolitan Park as the dominant parameter of the construction, will be characterized by the implementation of an environmentally friendly design, based on the principles of sustainability. In addition, the upgrading, integration and development of the seafront and the connection of the city to the sea will be an important environmental and social objective of the Integrated Development Plan. The Ellinikon is a model urban regeneration project with a smart city design that will incorporate the latest technologies.
By following modern architectural design, efficient engineering systems, along with optimal operational uses and applying sustainability strategies, the Group aims to ensure environmentally friendly operations for all projects in operation and under development, in the context of Sustainable Development. The ultimate goal is to mitigate and adapt to climate change for all activities and reduce potential negative impacts.
By considering climate and environmental factors in the design, construction and operation of projects, the Group aims to ensure the resilience and adaptation of its buildings to changing conditions. At the same time, it aims to protect air quality from the operation of its existing properties and those under development.
Reducing our carbon footprint and achieving a carbon neutral footprint are significant challenges for the Group. For 2022, for the first time, a carbon footprint assessment was carried out according to the ISO 14064-1:2018 and GHG Protocol specifications, including direct and indirect greenhouse gas emissions.
For their efficient environmental and energy management, malls implement Environmental Management Systems (EMS) and are equipped with B.M.S-Building Management Systems. Through EMS and EPMS, energy consumption is monitored, and the operation of the installed systems is adjusted in order to optimise energy consumption and ultimately maximise the energy efficiency of the buildings. The EMS of The Ellinikon, Marina Flisvos and Designer Outlet Athens are ISO 14001 certified.
The aim is to continuously reduce energy consumption and implement environmentally friendly programmes by all stakeholders in order to improve energy efficiency. Modern principles of environmental protection, such as bioclimatic design, have been adopted in order to save energy and make malls environmentally friendly.
Within the EMS of commercial projects, specific action plans for energy saving and carbon dioxide emission reduction are implemented, which include the following measures:
- Optimisation of energy management
- Use of appropriate insulating materials to prevent and minimise heat loss.
- Optimizing the efficiency of the heating, cooling and ventilation system through the operation of the BMS, which achieves significant energy savings.
- Use of electrical and mechanical (E/M) equipment with low energy consumption and maximum efficiency.
- Installation of variable cold/hot water supply pumps in the air conditioning circuits, so that the energy consumed is what is required each time.
- Ability to operate all central air conditioning units with external air, when temperature conditions allow, to cool the space without the required use of air conditioners.
- Use of reduced energy sources and bodies and requirements for artificial lighting.
- Monthly monitoring of electricity, gas and fuel consumption.
- Installation of an automatic control system for the energy monitoring of the efficiency of refrigeration installations, aiming at their maximum utilization.
- Placement of sunscreen films on glazing in level +1 translucent glazing to limit energy losses.
- Replacement of conventional luminaires with LED, lower consumption.
The Ellinikon - Phase A
An environmentally friendly design is followed for the development of The Ellinikon, aiming to mitigate environmental impact and adapt to climate change. Based on the Sustainable Development Strategy and in line with the Sustainable Development Policy, the Environmental Policy and the relevant EMS during the design and construction phase, measures are taken for the proper use and consumption of energy, the reduction of embodied carbon during construction, the reduction of greenhouse gas emissions, as well as the reduction of noise, dust emissions and air pollution. It should be noted that in 2022, The Ellinikon's EMS was certified according to ISO 14001:2015.
The Sustainability Unit is responsible for the development, implementation and monitoring of objectives and initiatives throughout the life cycle of the programme in order to ensure the Group's broader strategic sustainable development objectives.
All of The Ellinikon's developments holistically follow the highest standards of sustainable development in both design, construction and operation. All the commercial developments during Phase A of the project, as well as a large part of the residential developments, are aiming for Leadership in Energy and Environmental Design (LEED) Gold level international sustainable development certification. At the same time, the certification of individual projects with the international Sustainable SITES Initiative certifications is also promoted, aiming at the development of sustainable outdoor spaces.
The projects use advanced design models for energy behavior simulation, natural light analysis and Life Cycle Assessment (LCA). At the same time, upon completion of the construction of the projects, commissioning works are carried out by independent consultants to verify the proper operation of the building systems.
Both the Metropolitan Park and the coastal front are designed according to the principles of sustainable development, aiming to minimize the carbon footprint, protect and restore natural resources and the existing natural environment, meet irrigation and electricity needs, and enhance biodiversity and resilience. The extensive open spaces, the penetration of green spaces within the residential fabric, the revival and management of existing watercourses, as well as the integration of the coastal front and the connection of the city with the sea, are important environmental and social objectives of the development. The project encourages sustainable urban mobility by designing an extensive network of pedestrian and cycling paths, as well as bicycle parking and electric vehicle charging.
Figures of The Ellinikon project:
- Metropolitan Park of a total area of 2.000.000 sq.m.
- Coastal Front total length: 3,5 km
- Total area of green spaces: 600.000 sq.m.
- Sandy beach at the Coastal Front with a total length of 1,5 km
- Total length of the pedestrian and cycle network: 50 km
- Coverage ratio: lower than 35%
2.Energy
In 2022, the Group entered the Energy sector through its investments in Green-Volt PC and R-Energy 1 Holdings S.A., as part of its plan to supply The Ellinikon with green energy.
Initially, the Group proceeded with the acquisition of 67.71% of the shares of Green-Volt PC. Green-Volt PC is developing 4 wind farms with a total capacity of 242 MW in Northern Greece. At the same time, it acquired 20% of the share capital of R Energy 1 Holding S.A., which owns a portfolio of 44 MW of operational photovoltaic parks and a portfolio of wind and photovoltaic parks with a total capacity of 100 MW, which are in the licensing phase.
Our performance
1. Energy consumption
Energy consumption within the organization (MJ) – 2022
Energy consumption 27.467.346,7
Electricity consumption 119.537.401,2
Total energy consumption 147.004.747,9
Electricity consumption per investment property (MJ) – 2022
Golden Hall 23.716.238,4
The Mall Athens 30.979.112,4
Mediterranean Cosmos 29.555.150,4
Designer Outlet Athens 4.683.525,1
Flisvos Marina 6.091.581,6
The Ellinikon 24.511.793,3
Total 119.537.401,2
Percentage of renewable energy sources on the total energy consumption per investment property – 2022
Golden Hall 9,7%
The Mall Athens 12,5%
Mediterranean Cosmos 6,3%
Designer Outlet Athens 0,0%
Flisvos Marina 93,6%
The Ellinikon 0,0%
Total 10,7%
The Group's carbon footprint for 2022 is distributed as follows:
Scope 1 (2,4% of the total)
Scope 2 (market based) (10,7% of the total)
Scope 3 (86,9% of the total)
2. Water consumption
Total water consumption (ML) – 2022
Golden Hall 48,1
The Mall Athens 42,1
Mediterranean Cosmos 101,7
Designer Outlet Athens 30,7
Flisvos Marina 94,4
The Ellinikon 211,7
Total 528,7
3. Responsible Waste Management
The malls as well as The Ellinikon apply the most modern waste management practices and procedures with an emphasis on recycling.
• Segregation at source of waste streams (collection in six distinct bins).
• Minimizing the percentage of waste going to landfill, both during construction and during the operational phase.
• Reuse, recycle and recover construction waste, reducing the proportion that ends up in landfills and making optimal use of demolition materials and methods.
Total Waste Management – 2022
Production of hazardous waste (t) 12.593,4
Production of non-hazardous waste (t) 107.513,7
Total waste production (t) 120.107,0
Percentage of waste to be recycled/reused 81,7%
Percentage of waste to be composted 0,6%
Percentage of waste to be disposed of in a landfill 17,7%
The Ellinikon
In 2022, a soil decontamination project began with the removal of old facilities, the removal of 5.5 km of polluting underground fuel pipelines and the on-site treatment in the model bioremediation unit operating within the Hellenic 6,500 tons of contaminated soil. At the same time, the water decontamination project began with the removal of 250 tons of hazardous waste, the pumping of approximately 50 cubic meters of clean jet fuel from the underground water table and the on-site treatment of approximately 1,800 cubic meters of contaminated groundwater.
The Ellinikon: A smart and sustainable city
The Ellinikon project is the model of a standard urban regeneration project with the integration of the most modern technologies. Among other things, the project integrates a smart infrastructure of irrigation systems, smart water management, smart lighting, modern connectivity capabilities, and even smart buildings equipped with the most innovative infrastructure that ensures ergonomics and comfort. At the same time, there will be smart mobility capabilities and infrastructure with smart traffic and transport management systems, while there is planning for smart energy resource management systems to ensure sustainable energy consumption. Finally, smart waste management systems will optimize waste and waste sorting efficiency by emphasizing recycling and reuse of materials.
Initiative Location
Lamda Development's environmental responsibility initiatives are implemented in all areas of the country where the Company maintains activity (The Mall Athens, Golden Hall, Mediterranean Cosmos, Flisvos Marina, The Ellinikon and offices in Maroussi and Elliniko).
As one of the leading companies in Greece, Lamda Development considers environmental responsibility as one of the axes that can contribute to business development and competitiveness. Through the initiatives it implements, the Company has improved its operational efficiency indicators while reducing potential costs associated with unsustainable practices.
