Climate Change Data

Paramount Group, Inc.

Climate Impact & Sustainability Data (2021)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:41348 mtCO2e
Scope 1 Emissions:3670 mtCO2e
Scope 2 Emissions:37678 mtCO2e
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:165576 MWh
Water Consumption:334338 m3
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Achieved a 43% reduction from a 2015 baseline in MWh of energy. 2021 consumption was 165,576 MWh, compared to a consumption of 294,093 MWh in 2015.
  • Reduced GHG emissions from 74,022 mtCO2e to 41,348 mtCO2e from 2015 to 2021.
  • Reduced water consumption by 46% in 2021 from a 2016 baseline.
  • 2021 waste diversion rate was 44.58%.

Social Achievements

  • 100% of Paramount's employees are provided paid parental leave.
  • Implemented a number of initiatives to proactively manage the workplace and personal challenges associated with COVID-19.
  • 83% response rate on 2021 employee engagement survey.

Governance Achievements

  • 8 out of 9 Paramount's Board of Directors are independent.
  • The Compensation Committee incorporates key ESG-centric goals into Executive Management variable pay awards.
  • Zero instances of reported critical concerns in 2021.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • 35% portfolio-wide reduction in energy consumption by 2025
Short-term Goals:
  • Reduce water usage by 10% by 2025
  • 50% waste diversion rate by 2025

Environmental Challenges

  • Potential local water stress and water quantity and quality disruptions.
  • Climate-related risks (detailed in 2021 TCFD Report)
Mitigation Strategies
  • Water efficiency strategies including low-flow fixtures, data tracking, water submeters, and efficient irrigation.
  • Comprehensive strategy to achieve a 35% portfolio-wide reduction in energy consumption by 2025.
  • Risk management processes detailed in 2021 TCFD Report and 2021 ESG Report

Supply Chain Management

Supplier Audits: 76% of annual spend with Critical Tier 1 Suppliers covered by ESG Monitoring Survey in 2021.

Responsible Procurement
  • Vendor Code of Conduct
  • Human Rights Policy
  • ESG Monitoring Survey
  • Sustainable Purchasing Policy aligned with LEED guidelines

Climate-Related Risks & Opportunities

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

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, GRESB, UN SDGs

Certifications: ENERGY STAR, LEED, Fitwel

Third-party Assurance: Sustainable Investment Group

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed