Climate Change Data

Shorenstein Properties LLC

Climate Impact & Sustainability Data (2021, 2022)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:73,200 tCO2e/year
Renewable Energy Share:100% for Bay Area properties
Total Energy Consumption:262,200 MWh/year
Water Consumption:409,500 m3/year
Waste Generated:2,046 tons/year

ESG Focus Areas

  • Enhanced building performance
  • Water management and conservation
  • ESG education and communication
  • Stakeholder engagement

Environmental Achievements

  • Achieved a GRESB score of 87 out of 100 in 2021, up from 82 in 2020. This represents a 38% increase since 2014.
  • Met the Better Buildings Challenge goal of a 20% reduction in total portfolio energy use by 2016 and set a new goal of 40% reduction by 2025 from the 2008 baseline.
  • Achieved WELL Health-Safety Rating at 25 properties.
  • 100% renewable energy purchased for all Bay Area properties.
  • 33 LEED-certified assets totaling 16.6 million square feet.
  • 35 ENERGY STAR certified assets with a weighted average score of 84.

Social Achievements

  • Launched a Diversity, Equity, and Inclusion (DEI) committee.
  • Implemented a Donation Matching Program, matching employee donations dollar-for-dollar up to $750; $217,806 donated and matched since 2018.
  • Partnered with the Environmental Defense Fund (EDF) on various sustainability initiatives.

Governance Achievements

  • Established a Property Resources for Emergency Preparedness (PREP) Committee.
  • Implemented significant investments in information and data security, including a zero-trust security solution and a GRC program.
  • Mandated leak detection systems across the portfolio.

Climate Goals & Targets

Long-term Goals:
  • Achieve net-zero greenhouse gas emissions by 2050 (for some buildings).
Short-term Goals:
  • Reduce water consumption by an unspecified amount.
  • Reduce energy consumption by 40% by 2025 from 2008 baseline.

Environmental Challenges

  • Reducing carbon emissions to meet net-zero goals.
  • Managing energy consumption in older buildings.
  • Maintaining data quality and efficiency for sustainability reporting.
Mitigation Strategies
  • Utilizing Gridium and iES Mach for energy monitoring and efficiency improvements.
  • Investing in on-site and off-site renewables.
  • Implementing recommissioning projects (e.g., Capella Tower).
  • Participating in the DOE's Better Buildings program.
  • Engaging with tenants and providing educational resources.
  • Leveraging Measurabl for utility data automation.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Heat waves
  • Drought
  • Coastal surge and riverine flooding

Reporting Standards

Frameworks Used: GRESB

Certifications: LEED, ENERGY STAR, WELL Health-Safety Rating

Awards & Recognition

  • Green Lease Leaders Gold level designation

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:77,000 MTCO2e
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:251,700 MWh
Water Consumption:111,500 kgal
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Reduced energy consumption by 3.7% like-for-like
  • Reduced waste by 21% like-for-like
  • Reduced carbon emissions by 3.4% like-for-like (location-based)
  • Achieved ENERGY STAR certification for 20 properties (10.7 million sq ft)
  • Achieved LEED certification for 40 properties (16 million sq ft)
  • Purchased 1,266,450 kWh of renewable energy credits at Kruse Oaks II, preventing 1,978,701 lbs of CO2 emissions

Social Achievements

  • Achieved WELL Health-Safety Rating at 22 properties
  • Launched a new Volunteer Program
  • Launched inaugural DEI Internship Program
  • Implemented diverse hiring guidelines
  • Conducted employee contribution and benefits survey
  • Hosted numerous tenant engagement events across portfolio

Governance Achievements

  • Joined the UN Principles for Responsible Investment (PRI)
  • Committed to the Urban Land Institute Greenprint – Net Zero Carbon commitment
  • Implemented a robust ergonomics program
  • Updated tenant-facing property Green Scorecards and created investor-facing ESG Scorecards
  • Conducted third portfolio-wide property energy tour

Climate Goals & Targets

Long-term Goals:
  • Achieve net zero carbon operations by 2050 (ULI Greenprint commitment)
Medium-term Goals:
  • Reduce greenhouse gas emissions by 50% by 2030 (ULI Greenprint commitment)
Short-term Goals:
  • Reduce energy consumption by 25% by 2025 from 2018 baseline

Environmental Challenges

  • Meeting local and state benchmarking ordinances
  • Managing climate-related physical and transitional risks
  • Maintaining data quality and consistency across portfolio
Mitigation Strategies
  • Partnered with Sustainable Investment Group for third-party data verification
  • Utilized Measurabl for utility data automation
  • Collaborated with GRESB on Transition Risk Reports
  • Implemented leak detection systems across portfolio
  • Increased IT Department's time dedicated to InfoSec activities

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Responsible Contractor Policy

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: GRESB, GRI, UN SDGs

Certifications: LEED, ENERGY STAR, WELL Health-Safety Rating

Third-party Assurance: Sustainable Investment Group

UN Sustainable Development Goals

  • Goal 2
  • Goal 3
  • Goal 4
  • Goal 5
  • Goal 7
  • Goal 8
  • Goal 9
  • Goal 11
  • Goal 12
  • Goal 13
  • Goal 15
  • Goal 16
  • Goal 17

See page 35-37 of the report for details

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • BOMA 360 Performance designation (Fountainhead Office Plaza)