Environment

Climate Risk Management

Through a focus on energy efficiency, waste reduction, water management and green building programs, we are steadily reducing greenhouse gas (GHG) emissions. In 2022, we made a commitment to do our part to help build a low-carbon economy by moving towards net-zero GHG emissions by 2050 for our managed assets. Our focus moving forward will be the development of a strategic net-zero carbon roadmap to 2050 to reduce our emissions in line with what climate science deems necessary to meet the goals of the Paris Agreement.

To encourage deeper utility cost reductions, we launched our Sustainability Benchmarking and Conservation Program for the office portfolio in 2014, where our asset and property management teams established 5-year reduction targets for energy, water and waste across the office portfolio, and successfully relaunched the program in 2018 for the period 2019–2023. Each asset was benchmarked against industry averages and best practices and, based on these results, management teams set informed reduction targets. As at year-end 2020, we are on track to meet our GHG, energy, water and waste reduction targets.

Each year, we review our carbon footprint and sustainability performance with the Executive and senior leadership teams. We also support our parent company, Canada Life, a subsidiary of Great-West Lifeco, for its annual disclosure of GHG emissions to the CDP (formerly Carbon Disclosure Project).

Energy Efficiency

All managed properties undergo energy audits every five years to assess their energy performance and identify improvement opportunities. Many of the conservation projects subsequently implemented touch all aspects of a building’s systems, including ventilation, heating, cooling, automation and control systems, the building envelope and lighting.

We consistently invest in property and equipment upgrades aimed at increasing the operational efficiency of our buildings, while maintaining occupant health and comfort. This includes retrofitting lighting to more energy-efficient options, such as LED lighting.

Recommissioning is a low-cost, low-risk energy management strategy employed at some buildings. This strategy enables us to re-optimize equipment and systems to ensure they operate as efficiently as possible, for as long as financially feasible and environmentally responsible.

Waste Reduction

We look for ways to extend the life of materials for as long as possible and to divert waste from landfills.

Contractors, suppliers and tenants are encouraged to use more environmentally and socially responsible products and services. As a result, many of our properties have introduced energy-efficient lighting, sustainable paper and janitorial products, and green cleaning services.

Property management teams ensure that recycling is available for traditional recyclables (e.g., paper, plastics, cans and bottles) and, where possible, for organics, electronic waste, batteries, toner cartridges and fluorescent lighting. They also conduct regular waste audits and track major waste streams. Waste profiles at the property level are used to educate staff, tenants and occupants on better waste management and recycling practices.

Water Management

Water management practices include retrofitting equipment and investing in the latest water conservation technologies, such as low-flow fixtures, automatic water sensors, rainwater harvesting systems, smart irrigation technologies and cooling tower improvements.

We also create information primers on a wide variety of water management and conservation topics that our property management teams share with their tenants.