Reports Bold Progress on Climate-Related Issues, Including 52% Year-over-Year Reduction in Greenhouse Gas Emissions Intensity
BOSTON--(BUSINESS WIRE)--Apr. 22, 2020-- Boston Properties, Inc. (NYSE: BXP), the largest publicly-traded developer, owner and manager of Class A office properties in the United States, today announced it has issued its 2019 Environmental Social and Governance (ESG) Report.
The report is aligned with the Global Reporting Initiative (GRI) and outlines the Company’s Key Performance Indicators (KPIs), achievements and initiatives to address key environmental, social and governance (ESG) issues. Today’s ESG Report supplements the Company’s Sustainability Accounting Standards Board (SASB) accounting metrics included in its 2019 Annual Report on Form 10-K.
The report includes an accounting of the Company’s significant progress towards goals on climate-related issues. 2019 Highlights include:
- Reduced energy use intensity 27% below a 2008 base year, including energy efficiency improvements of 2.6% year-over-year;
- Reduced water use intensity 30% below a 2008 base year, including water efficiency improvements of 4.4% year-over-year;
- Reduced greenhouse gas emissions intensity 70% below a 2008 base year, including a 52% year-over-year reduction;
- BXP achieved its greenhouse gas reduction goal six years early and has adopted a new science-based reduction target that has been verified by the Science Based Targets initiative and classified by the SBTi Target Validation Team as the most ambitious designation available.
“I’m proud of our position and consistent recognition as an industry leader in ESG practices,” said Owen D. Thomas, CEO, BXP. “The goals and achievements outlined in our 2019 report demonstrate our commitment and capacity to conduct our business in a manner that contributes to positive economic, social and environmental outcomes for our customers, shareholders, employees and the communities we serve.”
“The signal from our stakeholders that ESG matters continues to grow,” said Ben Myers, VP, Sustainability, BXP. “This report is meant to provide transparency on ESG issues and a comprehensive set of high-quality disclosures that detail ESG initiatives and performance at BXP. I am extremely proud of our industry leadership and our collective achievements in 2019 across all three pillars of our sustainability program: climate action, climate resilience and social good.”
BXP’s commitment to sustainable development and operations has been recognized by numerous industry groups, including recently being awarded an ENERGY STAR Partner of the Year. BXP ranked among the top 4% of worldwide participants in the 2019 Global Real Estate Sustainability Benchmark (GRESB); for the eighth straight year the Company earned a GRESB “Green Star” and achieved the highest GRESB 5-star Rating. BXP was also named one of America’s Most Responsible Companies by Newsweek magazine, ranking 122nd on Newsweek's 2020 list of America’s 300 Most Responsible Companies, the second highest ranking given to a public REIT and the highest ranking of any office company.
The Company continues to pursue third-party, asset-level certification under leading frameworks, including Fitwel and the U.S. Green Building Council LEED rating system. BXP completed its Fitwel Champion commitments in 2019 and was named a 2020 Best in Building Health award winner. LEED certified properties now total 24.3 million square feet, more than half of BXP’s actively managed office portfolio, 96% of which are certified at the highest Gold and Platinum levels.
The complete report is available under the Sustainability section of the Company’s website at www.bxp.com.
Boston Properties (NYSE: BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space. The Company’s portfolio totals 52.0 million square feet and 196 properties, including 11 properties under construction. For more information about BXP, please visit our website at www.bxp.com or follow us on LinkedIn or Instagram.
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Source: Boston Properties, Inc.