Beyond “Best Efforts”: Why Commercial Real Estate Needs to Catch Up on Diversity
The pathway to success for addressing the lack of diversity in CRE is a multifaceted approach.
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WASHINGTON (September 12, 2019) — Boston Properties (NYSE: BXP), the largest publicly traded developer and owner of Class A office properties in the U.S. and an industry leader in sustainability, has joined the Urban Land Institute’s (ULI) Greenprint Center for Building Performance (Greenprint). Greenprint is a worldwide alliance of the foremost real estate owners, investors and financial institutions committed to improving the environmental performance of the global real estate industry, with a particular emphasis on reducing energy consumption and carbon emissions.
ULI Global Chairman Owen D. Thomas is the Chief Executive Officer of Boston Properties, which has a portfolio totaling more than 51 million square feet and consisting of 196 properties, including 11 properties under construction or redevelopment. “Greenprint’s sustainability goals align well with ours at Boston Properties,” Thomas said. “We take great pride in being a globally recognized leader in sustainable business practices, and we have publicly announced goals for reductions in energy use intensity, emissions, and water use, and increases in waste diversion. The built environment generates 40 percent of total carbon emissions, and the real estate industry and ULI have an important role to play in addressing this problem. Creating more sustainable performance in the built environment is one of my priorities as ULI’s Global Chairman, and I am very pleased for Boston Properties to be contributing to Greenprint’s work in this area.”
The cumulative holdings of Greenprint members total nearly 9,000 properties in 32 countries with a value of more than $750 billion. Greenprint members are at the forefront of efforts to reduce the carbon footprint of buildings and increase asset values by incorporating sustainability into all aspects of development and building operations. With demand rising from investors and tenants for environmentally conscious space, Greenprint members are raising the bar for high-performing, sustainable buildings.
“We are thrilled to continue working with ULI and Greenprint members to share best practices and approaches to sustainable real estate development and operations,” said Ben Myers, Director of Sustainability for Boston Properties. “Greenprint represents the shared commitment and collective action necessary to achieve positive environmental outcomes at scale. Through Greenprint, ULI is advancing dialogue and activity on environmental issues that matter to BXP and our stakeholders.”
Boston Properties is joining existing members BlackRock; CalPERS; CenterPoint Properties; Clarion Partners; CommonWealth Partners; DWS; GID; GLL Real Estate Partners; Granite Properties; Heitman; The Howard Hughes Corporation; Jamestown Properties; Jones Lang LaSalle; Kilroy Realty; LaSalle Investment Management; LendLease Americas; Morgan Creek Ventures LLC; Parkway Properties; PGIM Real Estate; Prologis; Rudin Management Company, Inc.; Savanna; SL Green; Sonae Sierra; Tishman Speyer; The Net Group; and Zurich Alternative Asset Management.
About the ULI Greenprint Center for Building Performance
The ULI Greenprint Center’s mission is to lead the global real estate industry towards improved environmental performance, focusing on energy efficiency and reduced carbon emissions. Greenprint is a member-driven organization that achieves its goals through measurement, action and education. Through measurement, benchmarking, knowledge sharing, and the implementation of best practices, Greenprint and its members strive to reduce greenhouse gas emissions by 50 percent by 2030. Greenprint is a research center within the ULI Center for Sustainability and Economic Performance, which also oversees ULI’s Urban Resilience Program and the Building Healthy Places initiative. For additional information, visit uli.org/greenprint.