As developers, owners, and managers of premier office buildings, Boston Properties (BXP) is keenly aware of the influence of buildings on human health. The COVID-19 pandemic intensified stakeholder focus on healthy buildings, elevating the importance of developing and maintaining healthy, high-performance buildings, while simultaneously mitigating operational costs and the potential negative externalities of energy, water, waste, carbon emissions, and climate change.
Completed in 2020, 110 North Wacker Drive – Chicago’s tallest office building delivered in the past three decades – achieved LEED v4 Gold and WELL Platinum certifications. The Howard Hughes Corporation’s (HHC) 1.5 million-square-foot office building provides market-leading amenities, design, and technology that ensures quality engagement and health of occupants.
Surpassing goals of net zero carbon emissions, in 2020 Prologis completed construction on the Eindhoven DC4 warehouse to not only meet net zero energy but also be a net energy producer. Located in Eindhoven, Netherlands, the warehouse is completely electric-powered, fitted with high-efficiency building systems, and includes a rooftop 2.94 MW PV-system in place for generating solar power. The combination of these components allows the property to maintain a net zero carbon output by generating more renewable energy than it consumes. The building is in line with Prologis’ new 2020 goal to have 100% of its developments across the globe achieve sustainable building certifications, by achieving BREEAM Outstanding certification for both the design and new construction delivery.
Through building optimization, Goldman Sachs Asset Management has been able to find ways to increase property value and reduce costs while helping mitigate climate change. Two properties that exemplified these efforts in 2020 are 895 Dove and 2001 Broadway.
Bees are dying at alarming rates as a result of pesticides, herbicides, fungicides, and disease. As pollinators of over 100 fruit and vegetable crops in the United States, bees are essential to the ecosystem. In 2019, CLARION PARTNERS, a U.S. real estate investment manager, partnered with a beekeeping company to install 27 beehives on 17 multifamily properties across the United States to improve biodiversity and help save bees. With the successful implementation of beehives at residential properties, Clarion is looking to expand to other property types, especially office buildings.
A family’s location and housing costs can directly affect their financial well-being and the community at large. To address social equity and equitably represent the communities in which it operates, FCP—a privately held investor of multifamily and office assets—partners with local nonprofits to provide low-cost after-school and summer child care programs.
CITY DEVELOPMENTS LIMITED (CDL) is a leading global real estate company based in Singapore with a global presence in 29 countries and regions. Its longstanding sustainability strategy for over two decades is anchored on four key pillars: integration, innovation, investment, and impact. CDL is committed to reducing its carbon footprint in the way it designs, builds, and manages its assets and stakeholders.
GRANITE PROPERTIES—a commercial real estate investment, development, and management company—is committed to providing innovative and sustainable work environments. Granite buildings are designed to provide an abundance of natural light, and many include a large hospitality-driven lobby called The Lounge and outdoor green spaces called The Yard with a variety of seating options for indoor and outdoor meetings, for socializing, or for a quiet space to work.
As a part of their overall sustainability program, THE TOWER COMPANIES—a privately held real estate developer, owner, and property management company—have a strong focus on occupant health and wellness. While Tower had already started implementing design, construction, and operational strategies focused on health in their buildings more than two decades ago, the COVID-19 pandemic has been a catalyst to increase investment and create a renewed focus on communicating health features and associated benefits to employees and tenants.
DWS’s incorporation of ESG considerations into its investment philosophy includes a proactive focus on implementing preventative measures to mitigate climate risk. This approach yields more value to the property and investors as the alternative of responding to a catastrophic and damaging climate event after the fact often proves to be far more costly. To determine the climate risks in its U.S. real estate portfolio, DWS piloted a climate risk assessment strategy focused on East Coast properties that had already experienced climate-related floods and hurricanes in the past.
