2016 Sustainability Report


A letter from Owen Thomas, CEO

Sustainability considerations have become increasingly important to our customers, shareholders, employees and communities we serve. As one of the largest owners and developers of office properties in the United States, we have become a global industry leader by integrating sustainable decision making that promotes our growth in a responsible manner across our five regions. In 2016 we executed our sustainability strategy by implementing policies, programs and projects that advanced our commitment to sustainable development and operations. Through our efforts, we demonstrated that developing and operating commercial real estate can be conducted with a conscious regard for the environment and our communities while mutually benefiting our tenants and shareholders.

During 2016:

  • We reduced like-for-like energy and water use 6.9% and 4.0% respectively, saving approximately $10.7 million in annual recurring operating costs;
  • We exceeded our 2020 targets for reducing our energy and water use intensity and greenhouse gas emissions intensity, reducing our energy use intensity 19.8%, water use intensity 21.8% and A LETTER FROM OWEN THOMAS, CEO greenhouse gas emissions intensity 31.5% below a 2008 base year;
  • For the fifth straight year, we ranked in the top quadrant of the Global Real Estate Sustainability Benchmark (GRESB) assessment, earning our fifth “Green Star” recognition and the highest GRESB 5-star Rating;
  • We placed 36th out of 733 companies — among the top 5% of worldwide participants in the 2016 GRESB assessment and second among U.S. office companies;
  • We certified and re-certified 3.3 million square feet under the U.S. Green Building Council’s (USGBC) Leadership in Energy and Environmental Design (LEED) certification program, growing our green building portfolio to 17.1 million square feet; and
  • We maintained our ongoing commitment to volunteerism and philanthropy by donating over 4,000 service hours to more than 700 community events and charitable activities. We are proud of our sustainability efforts to date and will continue to implement impactful policies and initiatives that improve our performance outcomes, protect asset value and cultivate long-term profitability for the company.