MyHomes’ first climate report

In the spring of 2023, with assistance from Ramboll Management Consulting, MyHomes completed the development of the company’s first climate report. An initiative that marks the desire to contribute to a more sustainable future. The climate report is based on data for the entire year of 2022 and provides a foundation for defining the company’s goals and ambitions for reducing its carbon footprint in the future.

The climate report is prepared as a high-level account, showcasing the company’s total CO2 emissions, energy consumption, and other significant climate impacts, and it is the first important step towards working systematically and purposefully towards the green transition. The results of the climate report provide the basis for setting necessary and realistic goals for MyHomes’ future climate impact, and contribute to MyHomes developing a plan that can facilitate the reduction of the company’s greenhouse gas emissions.

CLIMATE ACCOUNTABILITY FOR BOTH MYHOMES AND THE PROPERTIES

The climate report is prepared in accordance with the Greenhouse Gas Protocol, which is the leading international standard for accounting and reporting on greenhouse gases, and includes both direct and indirect emissions associated with all company activities, i.e., both scopes 1, 2, and 3. The graph below shows which emissions fall within the three scopes.

MyHomes has chosen to include significant scope 3 emissions in the climate report, even though emissions associated with MyHomes’ properties are not within MyHomes’ direct control. However, construction, renovation, and operation of properties account for a significant CO2 emissions, and since MyHomes buys, builds, renovates, and furnishes on behalf of owner groups, the company has some influence over the emissions, which is why MyHomes has chosen to include these under scope 3 in the report.

“At MyHomes, we are aware that despite our limited size, we have a measurable impact on the climate. As part of an industry that builds and renovates, we have a special responsibility – both to the many Danes who entrust us with the task of finding, renovating, and furnishing their dream holiday homes, but also in relation to the climate. Therefore, we have had the company’s first climate report prepared, and have also embarked on a series of activities to reduce our impact, such as minimizing food waste, saving electricity, etc. However, it is in scope 3 that the significant impact lies, and therefore we have set high ambitions and have expanded to involve this part in the climate report as well,” says Finn Christensen, CEO of MyHomes.

The compilation of the report has therefore required extensive data collection, with virtually all of MyHomes’ employees across departments contributing information about, among other things, purchases, commuting habits, business trips, etc.

THIS IS HOW MYHOMES’ CLIMATE FOOTPRINT LOOKS

The climate report for 2022, prepared by MyHomes and Ramboll, shows a total climate footprint for MyHomes, excluding emissions associated with the development and operation of the properties, of approximately 245 tons of CO2 equivalents. For MyHomes, the primary emissions in scope 3 are particularly in the procurement of goods and services as well as the business trips associated with finding, developing, and furnishing the holiday homes.

MyHomes’ vision is that the future of holiday accommodation is based on the sharing economy, where several people come together to realize their dream of owning quality homes that are built, renovated, and furnished with consideration for our environment and climate in the future.

The properties are managed and operated by MyHomes, who, in their role as project managers, contribute to the CO2 footprint left by MyHomes’ properties.

“Although MyHomes does not own the holiday homes, the company has influence on how the homes are constructed and furnished. Therefore, at MyHomes’ own request to demonstrate responsibility for its owner associations and the environment in general, Ramboll has also calculated the climate report for 2022, including the greenhouse gas emissions associated with the holiday homes,” says Niki Bey, Senior Manager, MSc (MechEng), PhD, Ramboll.

When emissions associated with the properties are added to the emissions associated with the operation of MyHomes’ own activities, the total footprint in 2022 is approximately 1,042 tons of CO2 equivalents. Breaking down the report, it becomes clear that in addition to purchased goods and services and business trips, emissions associated with the development and furnishing of holiday homes also constitute an important proportion of MyHomes’ total greenhouse gas emissions.

NEW INSIGHTS TO NAVIGATE BY

The next step in the journey will be to work on the areas of MyHomes’ value chain where the climate report has shown that the primary greenhouse gas emissions lie. Based on Ramboll’s recommendations, MyHomes will therefore examine how especially the development phase, including the construction, renovation, and furnishing of holiday homes, can be optimized from a climate perspective. An important part of this work will be for MyHomes to engage in close dialogue with existing partners and suppliers to identify innovative and effective solutions with a lower climate footprint.