Lowe
Climate Impact & Sustainability Data (2023, 2024)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Environment
- Social
- Governance
Environmental Achievements
- Achieved LEED Platinum certification for Gallery 64, a market-rate residential building in Washington DC.
- 50% certification rate for new developments (LEED Silver or better) between 2020-2023.
- 77% of properties with operational control benchmarked for energy usage in ENERGY STAR Portfolio Manager.
- 77% of properties with operational control benchmarked for water usage in ENERGY STAR Portfolio Manager.
Social Achievements
- Launched CRE Access intern and mentoring program with Howard University.
- Conducted an Employee Inclusion Assessment with high levels of belonging, fairness and psychological safety reported.
- Formed DEI Councils for Lowe and CoralTree.
- Concord Communities manages 340 affordable units and will renovate them in 2024 to earn NGBS Silver certification.
Governance Achievements
- Established an internal ESG Working Group.
- Developed comprehensive ESG program aligned with UN SDGs.
- Defined meaningful KPIs and crafted internal policies and practices.
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Pursue ENERGY STAR certification for operating assets.
- Purchase ENERGY STAR appliances for new projects.
- Achieve 85% data coverage in ENERGY STAR Portfolio Manager.
Short-term Goals:
- Build to LEED Silver or better for 100% of eligible projects.
- Pursue ENERGY STAR Multifamily certification for new construction.
- Increase portfolio green certification to 30%.
Environmental Challenges
- Data gathering and management across the portfolio.
- Improving diversity in the commercial real estate industry.
Mitigation Strategies
- Implementing ENERGY STAR Portfolio Manager for data tracking.
- Launching CRE Access program and conducting Employee Inclusion Assessment.
Supply Chain Management
Responsible Procurement
- Purchasing building materials comprised of recycled content.
- Sourcing materials responsibly, including paper goods with EPA minimum of 30% post-consumer recycled content.
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: UN SDGs, LEED, ENERGY STAR, NGBS
Certifications: LEED Platinum, LEED Silver, LEED ND Silver, ENERGY STAR
UN Sustainable Development Goals
- 3
- 5
- 8
- 10
- 11
- 12
- 13
- 17
Lowe has aligned its ESG objectives with 9 of the 17 UN SDGs.
Awards & Recognition
- City of Hope’s Real Estate Industries Spirit of Life award (2019)
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Set a minimum environmental performance baseline of LEED Silver for all development and renovation projects.
- Using ENERGY STAR Portfolio Manager to benchmark environmental metrics.
Social Achievements
- Established CRE-Access, an internship and mentorship program to increase diverse participation in commercial real estate.
- Established Concord Communities, an affordable housing subsidiary to reduce housing costs for low-income families.
Governance Achievements
- Developed Lowe ESG Policies in accordance with the company’s Sustainability Mission and ESG Principles.
- Developed and implemented a formalized Code of Business Conduct and Ethics, and ESG+R Policies.
Climate Goals & Targets
Supply Chain Management
Responsible Procurement
- Contract clauses related to energy efficiency, decarbonization, and waste management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRESB, UN Global Compact
Certifications: LEED
UN Sustainable Development Goals
- 9 of the 17 UN SDG’s