Business Wire

BentallGreenOak Announces Its Commitment to Achieving Net Zero Emissions by 2050 or Sooner for Its Entire Global Real Estate Portfolio

Share

BentallGreenOak (“BGO”) today announced that it is joining the Net Zero Asset Managers initiative, which commits the company to achieving Net Zero greenhouse gas emissions by no later than 2050 for its entire commercial real estate investment portfolio. The firm’s historic track record for successfully reducing and offsetting carbon emissions in the built environment will be instrumental in setting an enhanced course on targets that recognize the need for radical disruption to address the urgent threat of climate change.

By joining the Net Zero Asset Managers initiative, BGO commits to supporting investing aligned with Net Zero emissions by 2050 or sooner. In line with global efforts, including goals established in the Paris Agreement to limit warming by 1.5°C, BGO’s commitment specifically means:

  • BGO will work in partnership with investor clients on their decarbonization goals, consistent with an ambition to reach net zero emissions by 2050 or sooner across all assets under management (AUM).
  • Within one year, BGO will set an interim target for the proportion of assets to be managed in line with the target of Net Zero emissions by 2050 or sooner.
  • BGO will review its interim target at least every five years, increasing the proportion of AUM covered until 100% of assets are included.

“Today’s announcement committing BGO to Net Zero emissions across our global portfolio is within reach in our lifetimes because we have been charting a course for well over a decade to substantially reduce our environmental footprint. Our commitment to environmental stewardship forms part of the fabric of our firm’s culture and the responsibility we share to create a more hopeful future,” said Sonny Kalsi, co-CEO of BentallGreenOak. "BGO’s real estate investment platform is integrally tied to a world-leading ESG program that draws its strength from proprietary tools, technologies, research and information systems to deliver real and measurable outcomes. The positive trajectory of our emissions reductions programs across our managed portfolio will continue to be a compelling part of our offering to institutional investors, and a source of untapped potential that we will continue to pursue as part of our overall growth strategy for the firm.”

To help achieve this goal, BGO has established its own proprietary Global Net Zero Framework which draws on more than a decade of ESG experience and stewardship in commercial real estate. BGO’s Global Net Zero Framework is actively creating a collaborative process between portfolio managers, asset managers, & property managers to designtargets for carbon reduction, the boundaries for these targets, full-fledged delivery strategies, and cost forecasting for the duration of the commitment. BGO leaders representing every business across the global enterprise will guide the firm’s commitments through a rigorous planning period that confirms a course of action and then executes the strategies that include action on deep retrofits, lower carbon development projects, renewable energy use and efficiency strategies, adoption of prop-tech innovations, and the procurement of offsets.

“BGO is approaching its Net Zero emissions objective with a structured and credible plan. We are aligning to a growing and certain consensus from the investor community and a wide range of public stakeholders who are looking to responsible real estate asset managers to respond to the climate emergency.” said Anna Murray, Managing Director and Global Head of ESG for BentallGreenOak. “It will be our renewed mission to demonstrate accountability and tangible action on climate change. There is enormous opportunity in front of us that can only be captured through collaborative efforts across our global teams and in alignment with our clients’ objectives.”

BGO’s commitment to Net Zero emissions by 2050 also applies to the firm’s corporate operations. Since 2014, BGO has purchased renewable energy credits (RECs) and quality carbon offsets for its North American operations and will look to further expand carbon neutrality initiatives across its global corporate footprint to meet its 2050 goal.

The Net Zero Asset Managers initiative is a group of international asset managers committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5 degrees Celsius; and to supporting investing aligned with net zero emissions by 2050 or sooner.

The initiative is managed globally by six Founding Partner investor networks, namely: Asia Investor Group on Climate Change (AIGCC), CDP, Ceres, Investor Group on Climate Change (IGCC), Institutional Investors Group on Climate Change (IIGCC) and Principles for Responsible Investment (PRI). In turn, the initiative is endorsed by The Investor Agenda, of which the investor networks are all founding partners.

Visit BentallGreenOak’s Sustainable Investing website to learn more about BGO’s Net Zero commitment: www.bentallgreenoak.com/esg

About BentallGreenOak

BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $69 billion USD of assets under management (as of June 30, 2021) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.

BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life.

The assets under management shown above includes real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.

For more information, please visit www.bentallgreenoak.com

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media

Rahim Ladha
BentallGreenOak
media@bentallgreenoak.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Faster Recoveries, Improved Security: HTEC and G2 Risk Solutions Join Forces to Advance Bankruptcy Management28.3.2024 17:02:00 CET | Press release

HTEC, a global digital consulting, software engineering, and product development company, is announcing a strategic collaboration with G2 Risk Solutions (G2RS), the preeminent provider of end-to-end bankruptcy technology solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328622816/en/ HTEC & G2 Risk Solutions Partnership (Photo: Business Wire) Under the agreement, G2RS will engage HTEC to incorporate its leading-edge technology into G2RS’ premier bankruptcy management platform. As the creators of the most comprehensive national bankruptcy database and the first bankruptcy management portal, G2RS is an industry pioneer. By adding HTEC’s premium engineering to the G2RS technology stack, G2RS will offer new and innovative functionalities to help clients expedite financial recoveries, increase data protection, and reduce operational inefficiencies in the bankruptcy management life cycle. “We are thrilled to be a part o

The reopening of the Yokohama Museum of Art adds another innovative and distinctive venue for events in Yokohama28.3.2024 16:00:00 CET | Press release

After extensive renovations, the iconic Yokohama Museum of Art has reopened its doors to visitors from all over the world. The museum’s reopening paves the way to new and closer collaboration with international events in Yokohama. This extraordinary venue is the ideal setting for a one-of-a-kind gathering, in part, supported by the Yokohama Convention & Visitors Bureau (hereinafter YCVB). The Yokohama Museum of Art Founded in 1989, the Yokohama Museum of Art collects over 14,000 works of art that reflect the many facets of life in Yokohama—past, present, and future. The reopening of the museum coincides with the Yokohama Triennale, an international exhibition featuring contemporary artists whose decentralized exhibits turn the entire metropolis into an art museum. The 8th Yokohama Triennale is being held from March 15 to June 9, 2024, with the Yokohama Museum of Art being a pivotal venue for the exhibition. With the museum firmly back on the map as Yokohama’s leading artistic venue, YC

LambdaTest Launches The Phoenix Project, an Employee Resource Group for Women28.3.2024 16:00:00 CET | Press release

LambdaTest, a leading cloud-based unified testing platform, announced the launch of The Phoenix Project, an Employee Resource Group (ERG) dedicated to supporting and promoting the success of its female employees. “LambdaTest is committed to fostering a diverse, inclusive, and equitable workplace where all employees feel valued and empowered to reach their full potential,” said Chandini Chopra, VP of People and Culture at LambdaTest. “The Phoenix Project is a critical step towards achieving this goal by providing a platform for professional development, networking, and mentorship, especially for our women employees.” The Phoenix Project Aims To: Offer professional development workshops, networking opportunities, and dedicated time off for women to participate in ERG initiatives. Provide mentorship programs connecting senior female employees with mentees. Promote leadership development among women within the company. Create a sense of community for women in the workplace. Leadership and

Eight new sustainability-themed experiences—exclusive to Yokohama—for convention participants28.3.2024 16:00:00 CET | Press release

In a survey conducted by Yokohama Convention & Visitors Bureau (hereinafter YCVB), many convention attendees expressed particular interest in Yokohama’s culture, sightseeing spots, and local cuisine. In response, YCVB has developed eight new Yokohama Tours for event attendees to enjoy during their free time in Yokohama, keeping in line with our ethos of sustainability. Noge Area Bar-Hopping Tour, complete with guide Known affectionately by locals as Yokohama’s kitchen, Noge is a bustling nightlife spot that is home to over 600 izakaya (Japanese-style pubs). A knowledgeable local guide will lead participants to all the hidden gems in Noge, where they can indulge in distinctive, delicious pub-style food and drink. With easy on-foot accessibility, participants can rest assured this fun night out won’t impact their carbon footprint. Soto Zen Tour of Sojiji, head temple of the Soto Zen school As a prominent Zen sect in Japan, Soto Zen provides one of the best Zen wellness experiences. Durin

Nordson EFD Releases New 3-Axis Automated Fluid Dispensing Systems28.3.2024 15:00:00 CET | Press release

Nordson EFD, a Nordson company (NASDAQ: NDSN) and leading precision fluid dispensing systems manufacturer is proud to announce the new GVPlus and PROX families of automated fluid dispensing products. Both robotic solutions share a focus on motion, workspace, repeatability, payload, setup, and vision technology enhancements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240305726899/en/ The GV Series offers market-leading dimensional positional accuracy and deposit placement repeatability. (Photo: Business Wire) The new GVPlus automated fluid dispensing solution offers improved repeatability, bigger payloads with simplified setup requirements, and superior vision capabilities. Repeatability is now best-in-class at 8 μm, improving repeatability to ±0.008 mm. Setting up the robot is easier due to a new dual mounting flange that enables a tool payload of up to 4.5 kg (10 lbs). When paired with the working area of 400 mm x 400 m

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye