ESG SDDS Wiring-Guide

Expressed in kWh/m²/year, Energy Use Intensity (EUI) represents the ratio of total operational energy consumption (landlord- and tenant-controlled, actual and estimated) for the relevant portfolio assets to the corresponding total floor area. EUI should be calculated based on the building's gross energy demand, which includes both grid-imported energy and on-site renewable self-consumption. Energy generated on-site and exported to the grid is not part of the building's gross energy demand and should be excluded from the EUI numerator.

The choice of denominator should be consistent and transparently disclosed. Use the total supply floor area as defined in ESG1.6. Where reported EUI is used for comparison with an external benchmark or pathway, such as CRREM, reporters should ensure that the floor-area denominator and other methodological boundaries are consistent with those required by the benchmark. Where they differ, the EUI should be recalculated on the applicable basis or the difference clearly disclosed.

This indicator is one of the six environmental factors considered most relevant for underwriting (see INREV (2025) Integrating environmental considerations in real estate underwriting paper).

Note 1: Primary energy demand and operational energy consumption are different concepts. Primary energy demand reflects the energy required at source and may incorporate upstream conversion and transmission and distribution effects. Operational energy consumption reflects the energy consumed by the building during operation. This ESG SDDS indicator is based on operational energy consumption and excludes upstream transmission and distribution losses. EPCs and other energy labels may be based on primary, final, modelled or measured energy, depending on the applicable methodology. Where EPC or energy-label data is used as a proxy for operational energy consumption, reporters should confirm the underlying energy basis and document any conversion applied. Fugitive refrigerant emissions are not energy consumption and should therefore be excluded from the EUI numerator; where applicable, they should be reported under the relevant GHG emissions indicator.

Note 2: This indicator aligns with ARESI KPI 10, which provides a structure for specifying the scope of energy included in the numerator. The scope should be clearly stated and applied consistently across reporting.

Note 3: EUI is a building performance metric that measures total operational energy consumption relative to floor area. Some frameworks, such as SFDR Additional PAI 19 and ARESI KPI 9, also use Energy Consumption Intensity (ECI).

Note 4: For floor area definition and the treatment of acquisitions and disposals, see ESG1.6. For intensity calculations, the energy numerator and floor-area denominator should reflect the same reporting period.

Note 5: For the treatment of EV charging and on-site renewables in the numerator, see ESG3.1 and ESG3.1.4.

Note 6: For guidance on estimation methods used in the numerator, see ESG3.1.3.