Overview
Oxford has a proud history of industry leadership in sustainability and environmental, social and governance (ESG). Around the world, our team is committed to creating economic and social value through real estate. We integrate ESG initiatives and activities across teams and the asset life cycle -- creating value in our projects, portfolio and business and building an organization that our team members are proud of. Being a leader in sustainability helps drive long-term value and return. It plays a critical part in how we cultivate connections, ensuring our positive impact extends beyond the four walls of our properties. Our teams set clear and transparent objectives to hold ourselves accountable. We strive to continually do better while learning from and inspiring others to do the same. Our focus on both the big and the small initiatives come together to make a difference, for today and tomorrow.
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The details
Oxford’s sustainability program is focused on the following goals:
A few highlights:
- Being recognized by Fast Company for the fifth consecutive year as one of the World’s Most Innovative Companies for our approach to sustainability
- 17% reduction in carbon emissions intensity since 2019
- Committing to reduce portfolio carbon intensity across OMERS to 50% by 2030, as a meaningful step toward achieving our net zero 2050 commitment
- CAD $1.5 million procured value where suppliers are providing ESG information
- Our Green Financing Framework, launched in 2022, supports the transition to a low carbon economy. The Green Financing Framework has secured a C$600M green bond, the proceeds of which will fund the financing and/or refinancing green projects on our assets
Climate change is one of the most pressing issues of our time and we are committed to continually finding ways to meaningfully adapt and future-proof our assets.
Our Green Financing Framework will finance sustainable investments and expenditures that support and drive the transition to a low carbon economy.
The Stack, one of the first zero carbon (in design) commercial high-rise in Canada is an example of this in action. The certification is the culmination of planning to pioneer the CaGBC’s Zero Carbon framework in a high-rise office tower, while considering the demands of realizing an economically viable commercial project for our stakeholders. It has given us meaningful learnings to apply to future projects and share with our peers.
The James Snow Business Park development in Canada incorporates 400,000 SF of solar panels in the first phase of development as part of the base building infrastructure. It will provide clean energy to its occupants from day one and features drought-resistant landscaping, with buildings targeting LEED certification.
Working closely with community representatives and the City of Boston, our proposal to transform an underutilized site at 125 Lincoln Street into a mixed-use commercial building. Oxford is transferring its entire interest in its nearby building, 79 Essex Street, to the Asian Community Development Corporate (ACDC) to develop affordable housing and additional community retail space.
The takeaway
Creating a sustainable future requires ongoing focus and commitment. As an organization we have a lot to be proud of but also a long way to go. We will continue to advance ESG at Oxford and to share our progress with you with the same clarity and transparency that our program was founded on.
