Cadillac Fairview Ranks First in its Peer Group in the 2023 Global Real Estate Sustainability Benchmark Survey for Third Consecutive Year Français
TORONTO, Oct. 17, 2023 /CNW/ - Cadillac Fairview (CF) is pleased to announce the company's 2023 results within the Global Real Estate Sustainability Benchmark (GRESB) Survey. For the fourth time, and third consecutive year, CF ranked first in its peer group (Northern America | Diversified - Office/Retail | Non-listed). CF was also named a Regional Sector Leader (Americas Diversified Office/ Retail), which recognizes the industry's champions, leading the charge towards a net-zero future and propelling the sector forward. In addition, CF achieved 'Green Star' ranking for an eighth time. These impressive results demonstrate consistent industry leading performance and commitments at both the corporate and property levels.
GRESB is a mission-driven and industry-led organization that is internationally-recognized as an ESG (Environmental, Social, Governance) benchmark for assessing ESG risks and opportunities. CF's rankings demonstrate strong results in achieving superior building performance, and best practices for ESG management, such as policy, risk management, stakeholder engagement, implementation and measurement. GRESB assesses and benchmarks the ESG performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics. The 2023 benchmark covered 2,084 real estate entities, 687 infrastructure assets and 172 infrastructure funds.
"As the owner and operator of some of Canada's largest office complexes and shopping centres, we are dedicated to mitigating our impact on climate change and enabling a sustainable future," said John Sullivan, President and CEO of Cadillac Fairview. "Our continued top ranking celebrates the leadership, commitment and drive of our entire team who strive to integrate ESG principles into all aspects of our company culture."
CF has a long standing history of leadership when it comes to sustainability, starting with the launch of the Green at Work® program (GAW) in 2008. Over the years, CF has developed innovative and results-focused projects and programs to enable low carbon community transformation and ensure a resource filled and sustainable tomorrow. These include, but are not limited to, a 58% reduction in emissions since 2008; the development of its Climate Action and Resource Protection targets; the initiation of a first-of-its-kind energy smart analytics program and training; solar panel installation at CF Chinook Centre; Canada's first geo-exchange retrofit at 777 Dunsmuir, and the introduction of low-waste dining halls at several CF shopping centres. Most recently, CF achieved Zero Carbon Building (ZCB) certification – a stringent carbon-focused Performance Standard certification developed by the Canada Green Building Council (CaGBC) across 11 buildings in its Vancouver office portfolio, representing more than 3,135,000 square feet of best-in-class office space.
To learn more about CF's sustainability commitments, targets and results, visit cadillacfairview.com/responsibility/our-planet/.
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 150 institutional and financial investors to inform decision-making. For more information, visit GRESB.com.
Cadillac Fairview (CF) is an owner, operator, investor, and developer of best-in-class real estate across office, residential, logistics, life sciences and mixed-use asset classes. CF is owned by Ontario Teachers' Pension Plan, which has net assets of $247 billion.
The company's Canadian portfolio comprises 68 landmark properties, including the Toronto-Dominion Centre, CF Toronto Eaton Centre, Tour Deloitte, CF Carrefour Laval, CF Chinook Centre and CF Pacific Centre. Continually striving to make a positive impact in communities where it operates by promoting social connection, growth, and a sustainable future, CF's purpose is Transforming Communities for a Vibrant Tomorrow. Visit www.cadillacfairview.com for more information.
SOURCE Cadillac Fairview Corporation Limited
Media Contact: Anna Ng, Cadillac Fairview, 416-598-8246, [email protected]
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