objectives and progress
objectives and progress
We aspire to be one of the global leaders in the real estate industry in responsible property investing and environmental, social and governance practices. Striving for leadership means striving for increasing our knowledge base to better serve our clients and tenants and differentiate ourselves in the market.
We approach the key issues we have identified through the lens of knowledge and leadership, and focus on environmental performance, an area where we can have a significant impact. We also focus on people and engagement including our employees and other stakeholders, which helps to drive innovation. Improving our data and reporting mechanisms enhances our ability to improve performance, increase engagement and effectively drive innovation.
We are expanding our measurable targets and objectives for key performance data. There are constraints on our ability to disclose environmental performance targets as a third-party manager of assets, and as a private subsidiary of a public company. Environmental performance targets are being set internally. Objectives include reducing resource use and costs, reducing waste and increasing the number of certified buildings in the portfolio we manage on behalf of our clients.
better data and reporting
We recognize that to manage performance effectively, we need robust and reliable data to enable reporting. The quality of data is critical to providing our stakeholders with useful and reliable reports. Good data also empowers our managers to drive better performance. We track environmental performance data, human resources information, and are developing ways to measure the social attributes of our assets as well.
We have confidence in the data that we publish and in 2015 we engaged KPMG LLP (KPMG) to provide limited assurance over selected performance indicators. We look to continually improve as we discover new needs requiring different pieces of data, and we find ways to enhance our data collection and analysis capabilities. To that end, we implemented a number of initiatives in 2015 to enhance our data collection, analysis, and ultimately our reporting to stakeholders.
Underway and evolving
- Continued to increase usage of Eco Tracker and Eco View in the U.S. portfolio, enabling more insight into utility consumption and energy usage trends.
- Continued to Increase ENERGY STAR benchmarking and consolidated it under a single Bentall Kennedy account to enable greater visibility and quality assurance.
- Expanded our property level energy efficiency target-setting initiatives for offices and enclosed malls in our property management portfolio.
- Refined the process to estimate 'non-tracked' properties. Consumption is estimated based on the average 2015 energy use intensity of a representative sample of properties from the same asset class.
- Developed a sustainability dashboard which provides real-time visibility at a portfolio level to building certifications, energy intensity changes, average ENERGY STAR score, water intensity and others.
- Developed more specific guidance for each asset type on the data which should be tracked.
- Academic study which provides a quantitative analysis and comparison of the cost, environmental performance and value proposition of sustainable buildings.
- Ongoing development of a sustainability data management system within Eco Tracker that will include functionalities to track and support BOMA BESt and LEED EB:O&M certifications.
- In 2016, we will focus on increasing effective participation in Eco Tracker as is appropriate for specific groups (i.e. ensure Asset Managers are aware of and are using the Sustainability Dashboard function).
people and innovation
Engagement with our employees and our key stakeholders can take many forms. By planning and enabling engagement, dialogue, and sharing ideas, we create conditions to foster innovation. We are also working on investing in employees in particular through leadership, training and development programs.
Underway and evolving
- A 3-hour educational workshop was run across North America and had the participation of half of our investment managers, and senior leasing staff. The workshop accompanies an ESG reference guide which they can rely upon going forward and provides a common ESG language within the company. The other half of investment managers participated in the workshops in 2014.
- Blue Teams span 12 cities across North America at Bentall Kennedy corporate and regional offices to run and support social and environmental programs including facilitating community volunteer opportunities, Earth Day events and improved recycling to name a few.
- In 2015, we launched our Energy Efficiency Certificate Program, which is a multi-course program that empowers property management teams with the right tools and analytics to deliver continuous improvements in energy efficiency.
- Our ForeverGreen tenant program spans across our North American portfolio and covers all asset types.
- Investment in Training & Development was a priority in 2015 with a focus on programs for our leaders and newest team members. Our expanded Mentoring Program supported the engagement and development of our emerging leaders. Several management training programs were also added to enable our leaders to meet the ever changing and complex nature of our business.
- The third levels of the energy efficiency certificate course are under development and will be offered to employees in 2016.
Other emerging areas
- Our responsible contracting policy has been well-documented and well communicated throughout the organization and it has been implemented through contract documents with our suppliers. A level of monitoring and auditing is also being rolled out.
- We are working on improving our orientation process for property managers to be more thorough and ensure new staff quickly familiarize with the ESG objectives of Bentall Kennedy and the tools that are available to help meet those objectives.
We monitor trends, emerging issues, or issues that may be new for our industry. We conduct research about issues to understand how they apply to commercial real estate and determine their priority level for Bentall Kennedy. To that end, in 2015, we commissioned a first of its kind report on the financial effects of green building certifications on commercial office buildings.
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