As the world evolves, so do the challenges and opportunities we face. By including carbon reduction considerations in our decision-making, we strengthen the resilience of our portfolio while remaining focused on performance.
We strive to make a positive impact in mitigating climate risk through strategic investments in practical, cost-effective solutions that lower our emissions and other inputs that contribute to our carbon footprint.
That means taking a close look at our processes —development, operations, and maintenance— identifying areas where we can make changes, and implementing strategies to reduce our overall environmental impact.
Our sustainability strategy meets the growing demand for highly rated, low carbon buildings while keeping us on track to achieve our stakeholders’ expectations.
With performance, responsibility, and innovation as core values, taking practical action aligns with our commitment to make a positive impact. This empowers our team to continuously improve operational processes and reduce our environmental footprint.
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Our net zero target is in line with the leading global carbon commitment programs, and our pathway meets the fundamentals of Environment and Climate Change Canada’s Net Zero Challenge, which encourages companies to develop and implement credible decarbonization plans for portfolios by 2050.
Our plan is focused on our Canadian directly managed portfolio, prioritizing acting now while maintaining a pace that aligns with sustainable financial growth.
2025: Net zero transition plans in place for Canadian directly managed portfolio.
2030: 50% absolute carbon reduction from 2007 baseline for Canadian directly managed portfolio. Tracked emissions sources to include all landlord paid utility bills (electricity, heating fuels, water, waste, refrigerant leakage) and our corporate emissions (corporate travel, employee commuting and leased corporate offices).
2040: All Canadian directly managed office buildings reach net zero emissions.
2050: Global directly managed portfolio achieves net zero. Tracked emissions sources to include all property emissions (landlord, tenant, and resident).
No, we believe in the fundamental principle of reduction or elimination of emissions altogether to decrease our footprint. Our 2030 goal includes no allowance for offsets, while our 2040 and 2050 milestones allow us to offset an absolute maximum of only 10% of our baseline emissions through renewable energy credits or carbon offset markets.
Most of our buildings can achieve a 40% reduction in greenhouse gas emissions through energy efficiency upgrades and smart technology. The remaining reductions will come from moving to higher efficiency heating, sourcing clean or renewable energy directly from providers wherever we can, or producing it ourselves.
QuadReal has shared its carbon transition tool with the real estate industry as well as its approach and process for net zero training. We will continue to share tools, insights, and resources at conferences and through industry associations.
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