Toronto, ON – (June 29, 2023) – Crown Realty Partners (“Crown”) today released its 2022 Environmental, Social, and Governance (ESG) Report. This is the firm’s third annual report and is available to read or download here: Crown’s 2022 ESG Report.
Crown’s 2022 report builds upon our learnings since we published our first report and expands our disclosures on climate-related factors, recognizing that the long-term value of our assets will be affected by how we navigate the global energy transition in the years ahead. The report, entitled Beyond Resilience, sheds light on how Crown’s model of active and integrated management plays a vital role in enhancing value for employees, investors, our office communities, and other stakeholders.
“Crown’s value-add mindset, expertise in retrofitting buildings, and vertically integrated platform have accelerated our ability to embrace ESG principles, allowing us to enhance energy efficiency, reduce carbon emissions, identify near zero pathways, and improve the overall sustainability of our assets,” said Emily Hanna, Managing Partner, Investments. “As we move forward, ESG will continue to be a powerful driver of value for our platform and integral to our acquisitions and investment process. We will continue to seek new and innovative ways to maximize returns for our investors and enhance the sustainability and resilience of our portfolio and our firm.”
The 2022 ESG Report shares progress over the last year across priority areas where Crown believes it can have a meaningful impact. Highlights include:
- Expanding our Sustainable Investments team to improve integration of ESG principles across the firm and further our decarbonization planning across the Fund Portfolio
- Receiving Canadian Honours for our GRESB score of 91 and ranking of 2nd and 3rd for our submissions out of 59 North American un-listed office peers
- Being recognized as a top Canadian Small and Medium Sized Employer for the second consecutive year
- Achieving sustainability certifications for 100% of our Fund Portfolio
- Completing decarbonization plans for our Core Fund, identifying potential GHG emissions reductions of 1,885 MTCO2/year, equivalent to reductions of over 80%, and incorporated these into our asset strategies
- Initiating decarbonization planning for an additional 2.4 million sq. ft. of assets across our Fund Portfolio
Crown’s disclosures continue to be guided by global reporting frameworks, including the Global Real Estate Sustainability Benchmark (“GRESB”), the Sustainability Accounting Standards Board (“SASB”) Real Estate Standard, and the Task Force on Climate-Related Financial Disclosures (“TCFD”). Crown plans to expand its disclosures to include additional climate related factors, with the release of its Climate Change Commitment in Q4 2023.
Click here to view the report.
For further information, please contact:
Emily Hanna, PhD
Managing Partner, Investments
Crown Realty Partners
647.729.2609
ehanna@crp-cpmi.com
About Crown
Crown is an integrated commercial real estate investment and management firm focused on value-add opportunities across Canada, with over three billion dollars of real assets under management. Crown has a well-established track record, an experienced team and takes a hands-on approach to provide superior returns for investors and better workplaces for businesses. For more information: www.crownrealtypartners.com