Crown considers ESG at every step of the real estate investment lifecycle. Our model of active, integrated management prioritizes environmental and social sustainability preserves and creates the greatest value for all our stakeholders.
Real estate is a long-term investment and extreme weather events caused by climate change present potential physical risks to property. With our value-add lens, Crown assesses climate hazards to identify buildings that might face greater risks and implement risk mitigation and adaptation strategies, allowing us to set action plans and budget accordingly.
Crown has achieved excellence in sustainability through the following awards and certifications. Crown recognizes the importance of transparency in our ESG performance data and disclosures. We report our ESG metrics across several industry-leading platforms, including GRESB, Energy Star, LEED, BOMA and others.
We recognize that people are our greatest asset, strengthened by the diversity and differences they bring with them.
For the fifth consecutive year, Crown’s submission on behalf of its Core Fund of office properties achieved a 5-star rating. Crown has continued to show its ESG leadership, having achieved a score of 90 for its Core Fund submission and an outstanding performance ranking of 1st in its peer group of non-listed Canadian office funds and 2nd in a broader peer group in the Americas. Read more.
Crown has an Advisory Board to offer sound advice to Crown’s owners who are involved in the operations of the business.
For Crown, responsible management integrates ESG factors throughout the investment lifecycle. When we can identify potential risks early on, we can have a material impact on value creation.
Crown’s ESG Committee is responsible for advancing Crown’s ESG strategy. Chaired by Anna Huang, Director, Sustainable Investments, and under the oversight of Emily Hanna, Managing Partner, Investments, the Committee consists of a cross-section of Crown’s leadership team across different geographies, departments, and roles. Together, the members serve as champions of positive change who collaborate to ensure that each business unit is working to achieve complementary goals. The Committee consists of the following members:
Crown is well positioned to manage climate-related risks and capture opportunities for sustainable investment management, strategic planning, and building operations.
Crown assesses climate risks through physical and transition risk analyses. Crown plans to develop a net zero transition plan for the Core Fund to evaluate the feasibility and develop a pathway to achieving significant carbon reductions at each property.
We are working towards our target by encouraging additional recycling streams, providing more detailed instruction regarding waste diversion through tenant learning sessions and our tenant handbook.
Social
Community Building
Crown’s commitment to creating a smarter, more responsible model for commercial real estate investing and management extends beyond the walls of our buildings and boundaries of our properties, to our local communities.
Crown’s Standard Lease includes Green Lease terms; As renewals take place, green lease clauses are incorporated.
24% of Fund Portfolio is certified. Another 38% is registered for review with Fitwel and is expected to be certified by 2025.
Crown’s ESG Committee selected four key charities that support the underprivileged in our local communities in which we operate. We continue to advance our charitable giving and facilitate our team to participate in their own philanthropic efforts.