QuadReal Receives Top Ranking from GRESB for its ESG Efforts for the Fifth Consecutive Year
QuadReal’s commitment to sustainability is reflected in its GRESB performance, surpassing global benchmark averages
QuadReal Property Group (“QuadReal”) has earned a top ranking in the GRESB Real Estate Assessment, an internationally recognized framework used by investors to evaluate the sustainability performance of assets. This marks the fifth consecutive year that QuadReal’s diversified portfolio—across office, industrial, retail, and residential assets—has outperformed benchmark averages. QuadReal ranked 4th out of 17 in the Core Canadian peer group and maintained its five-star rating for the fifth year. Additionally, QuadReal ranked 7th out of 112 in the Diversified, Americas category.
“QuadReal’s consistently high ranking reflects our continued commitment to environment, social and governance (ESG) transparency,” said Nisha Agrawal, Director, Sustainability at QuadReal. “ESG efforts are embedded across our business, from investment activities to operations, and are increasingly underpinned by digital innovation, which drives our adoption of smart buildings that enhance productivity, efficiency, security, and wellness.”
The 2024 results build on QuadReal’s previous GRESB successes and highlight the company’s progress towards its ambitious ESG goals, including a 50 per cent carbon reduction across Canadian operations by 2030 and achieving net-zero emissions globally by 2050 for its directly managed portfolio.
QuadReal has demonstrated its commitment to achieving key process improvements and successful outcomes through a series of strategic initiatives:
- Smart Building Initiatives: QuadReal has advanced building connectivity, providing tenants and property teams with greater visibility to monitor and optimize energy and water usage. A recent project reduced annual energy costs by 25 per cent and outdoor water use by 60 per cent during peak months.
- Health and Wellness: QuadReal increased Fitwel certification of its Canadian office portfolio from 40% to 60%, taking a holistic approach to health and social well-being.
- Innovative Waste Management Solutions: New technologies, such as cameras in open-top waste bins and on-site composters at select properties, have significantly improved waste management efficiency.
- Net Zero Technology Committee: A cross-departmental team has been formed to pilot and evaluate technologies that support QuadReal net-zero capital planning initiatives.
“We recognize that what we do, and how we do it, impacts the communities in which we work and live,” said Agrawal. “That’s why we invest and build with a long-term commitment delivering shared value through social, environmental, and economic sustainability.”
GRESB assesses and benchmarks the ESG performance of more than USD 7 trillion of assets worldwide. These assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations.
About QuadReal Property Group
QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management are $77.6 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating platforms in which it holds an ownership interest.
QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.
QuadReal: Excellence lives here.