One of the lessons of 2020 was that some events are very difficult to foresee. Who would have ever predicted a global pandemic? This insight is not new however, as history is rife with numerous major and unexpected events. As an investor in real estate for more than 125 years, we know the importance of long-term success. Long-term thinking is in our DNA, with a strong focus on quality. This is based on our belief that a quality investment will retain its value in times of stress.
Climate change is one of the most important persistent structural challenges facing us. By understanding and anticipating the long-term risks of climate change, we strive to build portfolios that are progressively adaptable. Good examples are EDGE Eindhoven, acquired by our office and residential fund, and the new headquarters of Oldelft Utrasound in Delft, acquired by our science park vehicle. Climate-related risks are part of all investment decisions as of 2021. We are putting this into practice by mapping all portfolios in a Geographic Information System together with climate risk data such as heat, flooding or drought to see what climate change may entail for our portfolios.
In order to achieve a carbon neutral portfolio by 2050, we are designing the Paris Proof Roadmap for the residential, retail and office fund. The ASR Dutch Science Park Fund already has a Paris Proof Roadmap, and, just as the ASR Dutch Core Residential Fund, it has added an impact strategy to the funds’ overall strategy. a.s.r. real estate has set the ambition to generate renewable energy on-site wherever possible. In recent years, a total of 4,000 solar panels have been installed, and 300 ha of our farmland is now available for renewable energy. Over the coming three years we are aiming to install over 9,000 solar panels on buildings in our portfolios.
The authorisation and roll-out of COVID vaccines is a welcome sign of hope and is expected to bring relief to many people forced into isolation. This is the first step to returning to a normalised society, and it will open the door to more traffic in shops, restaurants and offices again. The vaccine breakthrough also gives us hope that we will be able to meet investors from all vehicles face-to-face during our yearly Investor Day in September.
In 2021, we will continue our efforts and focus on delivering perpetual value to both our investors and society. We have new initiatives and portfolio additions in the pipeline, and we will continue to pursue opportunities in the upcoming year. We would like to thank our investors for their continued support, giving us the ability to further expand our investment platform. If you have any questions regarding the fund management activities of a.s.r. real estate, please feel free to reach out to me, or any of the fund management teams.