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 design targets 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

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

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

DEXLEVO's Liquid Polymer Filler Raises KRW 26 Billion in Pre-IPO Funding3.12.2021 10:41:00 EET | Press release

DEXLEVO has completed its pre-IPO funding of KRW 26 billion. It thus increased its valuation by six times compared to the Series B funding in 2018 thanks to its commercialization performance such as obtaining the European Union’s CE certification on the liquid polymer filler (product name: GOURI) in May of this year. The company plans to build a new cGMP-grade (current Good Manufacturing Practice) production facility in Songdo with the proceeds raised this time and start marketing its flagship product. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202006086/en/ DEXLEVO's GOURI, the world's 1st Fully Liquid type PCL Injectable. (Graphic: Business Wire) According to industry sources on November 25, DEXLEVO has completed a total of KRW 26 billion in pre-IPO funding from existing investors such as Magna Investment, Smilegate Investment, Hyundai Venture Investment Corp., and Shinhan Capital. Magna Investment and Smilegate Inv

Seoul Viosys Provides Air Purifier Sterilizers, Which Dramatically Reduce the Risk of COVID-19 Infection, to 300 Small Businesses in Korea for Free3.12.2021 08:59:00 EET | Press release

While Living with COVID-19 campaign has kicked off in earnest, Seoul Viosys Co., Ltd. (KOSDAQ: 092190), a company specializing in optical semiconductors, provided Violeds Air Purifying Sterilizers that can reduce the indoor COVID-19 infection rate by 1/30 to 300 Korean facilities free of charge, with a good intention to support Korean small business owners. In addition, it announced that it would provide the Air Purifying Sterilizer license to the partners who can supply them worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202006063/en/ Air flow analysis while the air purifier sterilizer is running (Graphic: Business Wire) Seoul Viosys conducted an air sterilization experiment based on the study of the Korea Central Disease Control Headquarters and the Korea Institute of Science and Technology (KIST), which found out that opening windows frequently can lower the infection rate. When compared to opening windows a

BeiGene and EUSA Pharma Announce NMPA Approval of SYLVANT® (Siltuximab for Injection) in China for Idiopathic Multicentric Castleman Disease3.12.2021 07:00:00 EET | Press release

BeiGene, Ltd. (NASDAQ:BGNE; HKEX:06160) and EUSA Pharma (UK), Ltd. today announced that the China National Medical Products Administration (NMPA) has approved SYLVANT® (siltuximab for injection) for the treatment of adult patients with multicentric Castleman disease (MCD) who are human immunodeficiency virus (HIV) negative and human herpes virus-8 (HHV-8) negative, also known as idiopathic MCD (iMCD). This disease is a rare, life-threatening, and debilitating condition of the lymph nodes and related tissues. Siltuximab is a monoclonal antibody approved in the United States, European Union, and other countries and regions around the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202006056/en/ “Today’s approval provides a new treatment for patients in China with this rare systemic disorder,” commented Xiaobin Wu, Ph.D., President, Chief Operating Officer, and General Manager of China at BeiGene. “This approval is our

Bluehole Publishes a Feature Story on China’s Recent Vaping Regulations3.12.2021 06:04:00 EET | Press release

China’s leading vaping media, Bluehole New Consumption, today published a feature story on recent vaping regulation updates in China. Here below is the full article in English: On December 2, 2021, China’s State Tobacco Monopoly Administration issued the draft rules governing e-cigarettes while the regulator has just released the exposure draft of national standards of e-cigarettes on November 30, 2021. Previously, China announced to bring e-cigarettes under tobacco monopoly law on November 26, hence the legal status of e-cigarettes. The recent regulation updates have eliminated the uncertainties about the future of Chinese vaping industry, paving the way for the industry’s sustainable development. According to iiMedia Research Group, the size of Chinese’ e-cigarette market has grown from RMB 550 million (USD 86 million) in 2013 to RMB 8.38 billion (USD 1.31 billion) in 2020, witnessing an eight-year compound annual growth rate of 72.5%. World Health Organization estimates that China h

ST Energy Transition I Ltd. Announces Pricing of $250 Million Initial Public Offering3.12.2021 05:34:00 EET | Press release

ST Energy Transition I Ltd. (the “Company”) announced today the pricing of 25,000,000 Stakeholder Aligned Initial Listing, or SAILSM security, at a price of $10.00 per SAILSM security. The SAILSM securities will be listed on the New York Stock Exchange and trade under the ticker symbol “STET.U” beginning December 3, 2021. The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination with a target in any industry or geographic location, it intends to focus its search on opportunities that contribute in positive ways towards energy transition and clean energy technology. The Company’s board is led by John Fredriksen, chairperson, and includes independent directors Ole-Eirik Lerøy, Cato Stonex, James O’Shaughnessy, Tore Myrholt and Annika Sigfrid. Gunnar Eliassen is the Chief Executive Offi

Bentley Systems Announces Winners of the 2021 Going Digital Awards in Infrastructure3.12.2021 00:01:00 EET | Press release

Bentley Systems, Incorporated (Nasdaq:BSY), the infrastructure engineering software company, today announced the winners of the 2021 Going Digital Awards in Infrastructure. The annual awards program recognizes the extraordinary work of Bentley software users advancing infrastructure design, construction, and operations throughout the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202005219/en/ Bentley Systems Announces Winners of the 2021 Going Digital Awards in Infrastructure (Photo: Business Wire) Sixteen independent jury panels selected the 57 finalists from nearly 300 nominations submitted by more than 230 organizations from 45 countries encompassing 19 categories. To see the Going Digital Awards in Infrastructure finalists present their projects, click here. Bentley Systems showcased 19 Going Digital Awards in Infrastructure winners on December 2 during the 2021 Year in Infrastructure and Going Digital Awards

Vifor Pharma comments on market speculations2.12.2021 20:40:00 EET | Press release

Regulatory News: AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR Due to current market speculations, Vifor Pharma Group states the following: Vifor Pharma Group systematically reviews options that can strengthen its market position and/or accelerate the growth of the company both organically and through partnerships and acquisitions. Vifor Pharma is therefore regularly in discussions with other market participants and does not comment on them. About Vifor Pharma Group Vifor Pharma Group is a global pharmaceuticals company. It aims to become the global leader in iron deficiency, nephrology and cardio-renal therapies. The company is a partner of choice for pharmaceuticals and innovative patient-focused solutions. Vifor Pharma Group strives to help patients around the world with severe and chronic diseases lead better, healthier lives. The company develops, manufactures and markets pharmaceutical products for precision patient care. Vifor Pharma Group holds a leading position in all its core b

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