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Engaged in mitigating climate change-related risks.
We believe that our resilience to climate change-related physical and transition risks is critical to our long-term success. When possible, we are proactively engaged in mitigating these risks.
Key actions to mitigate risk.
As we focus on resilience in our business, we seek to execute on key actions, which include:
- Align with the TCFD framework.
- Evaluate properties for physical and transition climate-related risks during the due diligence process.
- Utilize climate analytics metrics to:
- Identify physical risk exposure across our portfolio.
- Identify high-risk assets
- Implement mitigation measures and emergency preparedness plans.
- Assess and monitor transition risks and opportunities arising from the shift to a low-carbon economy, including market, reputation, policy and legal, as well as technology.
Our approach to resilience.
What are our Physical and Transitional Risks?
We evaluate both physical and transition risk over short, medium and long-term time horizons.
Physical
- Extreme and/or exacerbated weather events, natural disasters, drought, heat stress, sea-rise level
Transition
- Increased building benchmarking, audit and performance mandate requirements, emerging technologies, carbon fines, shifts in energy supply and utility costs
In an effort to manage climate-related risks, the opportunities we focus on are:
Increasing efficiency
Optimizing building controls around consumption
Installing metering to obtain Scope 3 emissions
Prioritizing high-efficiency equipment at replacement
Installing solar and battery storage where feasible
Moving towards 100% LED lighting
Supporting a move toward electrification
Our ESG program is aligned with INREV, GRESB, GRI and UNPRI. Data provided herein has been reviewed by RE Tech Advisors and represents a snapshot of current performance.
