Befimmo abides by the applicable legal requirements on governance and has devised a Code of ethics setting out the values that are to govern relations with its stakeholders.In terms of governance, Befimmo applies the Belgian Corporate Governance Code, which is its reference code, and pays particular attention to developments in this area. For the prevention of conflicts of interest and market abuse, Befimmo is governed by the legal provisions applicable as a listed company and a BE-REIT, and by the additional rules it has laid down in its corporate governance charter. Befimmo  therefore imposes stricter requirements than the legislation where it deems appropriate.

The General Counsel & Secretary-General (member of the Executive Management Committee) is responsible for updating and compliance with the Code of ethics and the corporate governance charter. She also holds the position of Compliance Officer and, in that capacity, ensures compliance with internal rules and procedures to prevent the risk of market abuse.

Befimmo also pays particular attention to the reliability of the reporting process, and rigorous, accurate and transparent financial and non-financial communications.

Befimmo is aware that a significant part of its environmental and also societal impact is upstream in its value chain, and it wants to go beyond responsibility for its own activities by educating its suppliers through responsible management of its value chain.

The main priorities related to this topic are dialogue and communication with stakeholders, ethics, compliance and the value chain.

Dialogue &

Maintain a dialogue with the individuals and entities affected by the Company’s business and communicate transparently on initiatives taken, and follow them up.


Prevention of the risks of corruption, anti-competitive behaviour, conflicts of interests, risk to reputation and raising awareness of ethics and compliance with the law.


Compliance with legislation in force and a proactive attitude towards the authorities.

Responsible value chain

Responsible management of the value chain, sustainable procurement policy and dialogue with suppliers.

Our main targets:

  • Befimmo's objective is to continually improve the regular dialogue with all its stakeholders, enhancing the communication tools, adapting them to each stakeholder (website for investors and tenants, intranet for the team, presentations, reports, Helpsite and extranet available to tenants, etc.) and also to continue responding to the CDP, GRESB and other questionnaires published by institutional investors.
  • In 2017, Befimmo plans to set sustainable operational procurement criteria for materials/suppliers for the family subcategories "Sites" classified as "Leverage" in the Kraljic matrix. This objective should be achieved gradually over a period of 3 to 5 years in a participatory manner with all stakeholders namely: Befimmo in-house teams, architects and consulting firms and contractors/suppliers.
  • Train and educate all maintenance companies in CSR. Add a “Sustainable development/energy performance” addendum to existing contracts and devise new environmental performance terms for new contracts.
  • When major works are carried out, Befimmo ensures that the certificates are updated, as was previously the case following renovations in various buildings. In 2017, on the basis of all the measures for improving energy performance implemented since 2011 (when the certificates were issued) in the operational portfolio in Brussels, Befimmo will also consider whether to update the energy performance certificates of certain strategic buildings. Although theoretical, the data of the certificates are also compared with the actual specific consumption figures.
  • Continue and finish bringing audited permits into compliance. Audit the remaining environmental permits held by Befimmo.