Invested in 100 years from now - 2020 Sustainability Progress Report - Canderel
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Invested in 100 years from now. 2020 Sustainability Progress Report
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About Canderel
Canderel’s success as a multi-faceted property management, asset management and real estate development
company reflects its exceptionally high standards and desire to exceed client and partner expectations. The Canderel
team is comprised of the industry’s top talent, with an innovative vision and the will and resources to get the job done
on time and on budget. Through regional offices in Toronto, Montreal, Ottawa, Calgary, Edmonton and Vancouver, we
deliver a disciplined approach that has consistently provided unparalleled value and service.
Community. Sustainability. Inclusion. These are the values we live by every day, in all that we do. Engaging our
Canderel family, as well as the communities in which we build and develop, is part of our fabric. Our new developments
are driven by a rigorous sustainability program and governance framework, and our inclusive and diverse staffing
model allows us to get the best of the best.
512 20 $16.5 $2.5 64
employees million billion billion million
across Canada square feet of in acquisitions, presently under square feet of owned,
property currently developments and construction, developed and
under management management projects development or in managed properties
advanced planning
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Message
from our CEO
I am pleased to present the 2020 Sustainability Progress Report. This year marks our 9th year reporting
on Canderel’s environmental, social and governance initiatives.
We are proud of the progress we made in 2020, despite a difficult year for all of us. Our teams remain committed to
finding innovative solutions to address the unique challenges our industry/communities are facing today, including
climate change, health concerns, and systemic racism and inequality. Therefore, I would like to highlight the following
milestone achievements, that put us on the path to more sustainable, resilient and inclusive growth:
•D
evelopment of a building resilience assessment tools to help property managers
identify and address climate-related risks.
• Rollout of diversity and inclusion training for our Leadership team and signing
the BlackNorth Pledge.
• Implementation of a new benefit plan and a fully integrated human resources
information system that will support the growth of our employees.
I invite you to read this report and connect with us to share your feedback on how we can improve.
Sincerely,
Brett Miller, CEO
ESG Strategy
Canderel is committed to a sustainable future. Our vision is to be recognized as
a national expert in delivering customized sustainable real estate solutions to our
clients. In 2020, we expanded our sustainability program to address a broader range
of Environmental, Social and Governance (ESG) issues articulated around five pillars:
Building, Investments, People, Governance and Community.
Buildings Investments People
Develop and manage safe, Embed ESG issues into our Foster a diverse, inclusive,
resilient, connected and investment analysis and respectful and nurturing workplace
sustainable properties. decision-making process to to support the growth of our people
build a more future-proof and our company.
and climate-ready portfolio.
Governance Community
Conduct business responsibly Contribute to creating a
and lead by example to higher quality of life in the
ensure long-term profitability. communities that surround us.
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2020 ESG Metrics
LEGEND 2020 2019
Ongoing energy and water-use reductions observed in 2020, in part due to lower building occupancy.
Energy Water Greenhouse Gas
In 2020, the amount of energy per square foot, We noted an average reduction of 33% in water In 2020, our portfolio’s greenhouse gas emission
also called energy use intensity (EUI), in our office use intensity (WUI) across the GTA, Ottawa and (GHG) intensity dropped by 10% on average,
portfolio dropped by 8% compared to 20191. Alberta office portfolios. Due to delays in receiving compared to 2019.
utility bills, we are unable to show the 2020
performance data for the Montreal portfolio.
EUI (ekWh/ft2) WUI (l/ft2) GHG INTENSITY (kg CO2eq/ft2)
GREATER GREATER GREATER
TORONTO TORONTO TORONTO
AREA AREA AREA
MONTREAL MONTREAL MONTREAL
OTTAWA OTTAWA OTTAWA
EDMONTON EDMONTON EDMONTON
CALGARY CALGARY CALGARY
0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 0.00 10.00 20.00 30.00 40.00 50.00 60.00 70.00 80.00 90.00 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00
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ethodology: Energy use intensity metrics are calculated using the portfolio of offices where Canderel has full operational control and/or access to full tenant data. Energy sources include electricity,
M
natural gas and district cooling (diesel is excluded). This is a like-for-like comparison, meaning only properties present in both years are considered. Metrics are expressed in gross leasable area.
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2020 ESG Metrics
Certification Biodiversity Social & Governance
9.6 million 17 beehives $2,089,000
square feet of leasable area of LEED or installed on building rooftops raised in support of charities
BOMA BEST versus 8.4 million in 2019,
representing a 14% increase
60 properties +200kg 100%
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certified of honey harvested of the Leadership Team received
diversity training
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Office, retail and industrial properties
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Buildings
Our Program
In 2020, we engaged with our development and property management teams to rethink the way
we define sustainable buildings at Canderel.
We identified key priorities to guide the teams in the design, construction and operations of
commercial and residential properties across Canada. We set targets for each subcategory
and will pilot their deployment in 2021.
Energy & Land Healthy Leadership &
Climate Change Protection Buildings Innovation
ENERGY ATER
W EALTH & SAFETY
H ERTIFICATION
C
Improve performance Lower on-site usage Create safe work environments Strive to achieve excellence
ARBON
C ATERIALS
M ELLNESS
W ENANT ENGAGEMENT
T
Lower GHG emissions Limit the extraction of new resources Support occupants’ wellness goals Seek a high level of satisfaction
ESILIENCE
R ITE
S CCESSIBILITY
A REEN LEASE
G
Mitigate & adapt to risks Limit pollution & protect biodiversity Reduce on-site physical barriers Embed commitments in the leases
OBILITY
M ASTE
W INNOVATION & PROPTECH
Promote low-carbon transportation Lower generation & improve diversion Leverage technology
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Buildings
Climate Change
Resilience Assessment Carbon Management
As climate change accelerates, extreme weather events Decarbonization of real estate has become a top
across Canada are becoming more frequent and intense. priority for owners and managers of assets in Canada
Some of them may exceed conditions for which a building’s and around the world. Over the past year, Canderel
systems were designed, and as a result, the systems could implemented a comprehensive action plan to reduce
experience reduced performance, damage or failure. our carbon footprint:
In 2020, Canderel developed a self-assessment tool to help • The scope and quality of our greenhouse gas emission
property managers identify local hazards related to climate reporting was improved, including through collecting
change, evaluate the potential impact on their buildings, more data from tenants who pay their utility bills directly
and take action to mitigate and/or adapt to these risks.
We looked at intense precipitation and flooding, high winds, • Low-carbon feasibility studies were conducted on large
wildfires, extreme temperatures and carbon regulatory office buildings
changes. • Pilot carbon accounting of corporate emissions through
Following the release of the tool, it was tested on two the Edmonton Corporate Climate Leaders Program
assets. Encouraged by the positive feedback from both the In 2021, we will include some of the recommended
owners and building teams, the tool will be used to assess carbon measures in the capital planning process and
all our major assets across the country by mid-2021. continue our work on corporate carbon accounting.
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Case Study
Corporate Carbon Accounting in Edmonton
In 2020, our Edmonton office joined the City of Edmonton’s Corporate Climate Leaders Program with the goal
of examining how we operate and identifying the impact our operations have on the environment. Through our
involvement, we are committed to establishing and maintaining a corporate greenhouse gas (GHG) inventory,
developing plans and targets for reducing our GHG emissions, and sharing these commitments publicly. Edmonton’s
In the coming months, we will establish carbon-reduction targets for 2025 and 2035, along with a detailed action
plan to achieve these targets. We are pleased to share our first GHG emission inventory, which highlights the Energy Transition
emissions attributed to the operation of the Edmonton office at Compass Place, a Canderel-owned property.
Our team occupies a portion of the building and the rest is occupied by other tenants.
Strategy
• 2018: The Edmonton Declaration
commits the city to meet the
Paris Agreement and the 1.5C goal
•2
019: Edmonton declares a climate
emergency
2019 GHG 5% Emissions associated with the consumption of •2
021: Edmonton commits to
Scope 1
Emission natural gas and refrigerants (Edmonton office only) achieving net zero per person
Inventory GHG emissions by 2050
6%
Scope 2 Emissions associated with electricity use
(Edmonton office only)
89
GHG emissions associated with:
% BUSINESS
Scope 3
• Electricity and natural gas from other tenants > 82%
• Edmonton office employee commute and travel > 5% VI
• Whole building waste > 2%
This inventory was established in line with the WBCSD/WRI GHG Protocol Corporate Accounting and Reporting Standard.
The Logo & Size
10 Investments There is growing evidence of the positive link between sustainability and investment performance. Integrating sustainability criteria can help mitigate risks and contribute to the value-creation process both at the asset and portfolio level. Successfully managing these risks and opportunities is necessary to deliver long-term performance to our partners and clients and, ultimately, to achieve our vision. In 2020, we launched our ESG Due Diligence Checklist. This is a list of sustainability criteria to be considered during the acquisition process of a project, whether greenfield or existing building. By using the checklist, Investment Teams will widen the scope of their analysis by considering climate change, resilience, biodiversity and community relationships.
11 Governance We are committed to conducting our business responsibly and leading by example to ensure long-term profitability. We continually improve our policies and procedures in order to meet our internal mandates and client expectations. We have effective controls in place to manage risks and promote continuous improvement. In 2020, we reviewed our governance framework and updated our policies and procedures to align with industry best practices.
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People
Diversity, Equity and Inclusion Employee Management
We firmly believe that a diverse and inclusive workforce drives 2020 marks a significant milestone for Canderel with the rollout of a
innovation and makes our company stronger. We are committed to new benefit plan and a fully integrated cloud-based human resource
fostering a safe and positive environment that respects people’s dignity, information system (HRIS). Designed to provide more flexibility and
ideas and beliefs. better coverage, the Group Benefit Program brought employees from
various entities across Canada under the same group insurance plan.
In the previous 12 months, we launched a Diversity & Inclusion Dayforce, our new HRIS solution, improves the way Canderel
Committee that began looking at a variety of topics, including racial manages performance and career development, offering employees
and ethnic discrimination, respect in the workplace, and gender and a more transparent and efficient way to set up, track and review
LGBTQ2+ equality. We are also in the process of re-examining our performance goals and development objectives.
policies and hiring practices so we can identify where improvement
is warranted. In addition, we have started a series of diversity and
inclusion trainings for our Leadership team. In 2021, we will continue
to educate our employees through various awareness campaigns and
training opportunities.
On November 24, 2020, Brett Miller, our CEO, signed the Building
Industry and Land Development Associate (BILD) Diversity, Equity and
Inclusion pledge. One month later, he signed the BlackNorth Pledge
on behalf of Canderel and its employees.
https://blacknorth.ca/the-pledge/ Both pledges confirm our
commitment to diversity, equity and inclusion.13
Community 6600 Saint-Urbain, Montreal
We have shaped our company culture to The Canderel family is especially proud Canderel purchased 6600 Saint-Urbain in
include and encourage ongoing community of its very own Défi Canderel, an annual Montreal’s vibrant MileEx neighbourhood in 2020.
involvement. Through action, ideas and campaign begun in 1989 that raises funds for Since then, we have embarked on an exciting
donations, our management team and employees cancer research. The campaign culminates renovation project that puts sustainability and
support a variety of organizations such as each year in May with hundreds of people community impact at the centre of our strategy.
hospitals, universities, museums and arts running through downtown Montreal. Since
festivals. In 2020, our corporate donations and its inception, the Défi Canderel has raised in Canderel and the Quartier de l’innovation
employee fundraising initiatives had a positive excess of $22 million. Participants in 2020 invited startups to present innovative Proptech
impact on the following organizations: brought in an impressive $1,940,000. The solutions and projects that could be implemented
two beneficiaries are The Rosalind & Morris at 6600 Saint-Urbain. 13 technology solutions
Goodman Cancer Research Centre and the were presented and 5 were selected to compete.
Institut du cancer de Montréal. “Off The Grid” was selected as the winner for
the Canderel Price. Off the Grid created a bike
In 2021, Canderel will launch a company- that puts energy back into the buildings energy
sponsored volunteer program that will allow grid. As their prize, they will have a meeting
employees to take up to eight hours of paid with various members of the Canderel team,
time to support charitable organizations. to receive feedback on their technology and
look for opportunities for Canderel
and Off The Grid to work together.14
Case Study
Building a low-carbon district on Tsuut’ina Nation in SW Calgary: the Taza project
Spanning 1,200 acres with three distinct villages, Taza is one of In 2020, the Taza team achieved significant milestones including:
the largest First Nations development projects in North America.
Taza reflects the aspirational vision of the Tsuut’ina Nation to
be a leader of land stewardship while creating a robust carbon
neutral economy. 2020 Canadian Architect Award of Excellence for
The Taza Park Water Reservoir
The project has an ambitious sustainability strategy articulated
around six categories, including energy and carbon, waste, water
and stormwater management, transportation, urban agriculture,
and health and well-being.
Opening of a LEED-certified Costco retail centre
A Sustainability Scorecard was created to guide Taza’s
development teams from design through construction, focusing
on resilience, adaptability and innovation. Key priorities include
the reduction of operational energy and embodied carbon, the
use of Low Impact Design (LID) strategies to reduce stormwater Rollout of a green lease for The Shops at Buffalo Run
runoff, or the development of community gardens. Learn more
about Taza’s Sustainability Implementation Strategy.Invested in Creating Value Learn more about our Sustainability Program at www.canderel.com and contact CAROLINE BORDEAUX Director, Sustainability, Impact and Engagement Practice cbordeaux@canderel.com
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