Boston Properties Extends Sustainability Leadership with Renewable Energy Agreement; Expects to Reduce the Carbon Intensity of Its Massachusetts Operations 78% in 2019

December 12, 2018
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BOSTON--(BUSINESS WIRE)--Dec. 12, 2018-- Boston Properties, Inc. (NYSE: BXP), one of the largest publicly-traded developers, owners and managers of Class A office properties in the United States, announced today that, together with Calpine Energy Solutions, LLC and Taylor Consulting & Contracting, it has signed an agreement to purchase specific-source renewable energy equal to the expected electricity needs of the Company’s actively managed Massachusetts portfolio.

Under the agreement, Boston Properties has purchased the environmental attributes associated with energy from Capricorn Ridge II Wind Farm in Sterling, Texas, for the projected power consumption at 33 buildings and garages totaling 15 million square feet in Boston, Cambridge, Waltham, Lexington, Weston and Needham, Massachusetts. Boston Properties expects this procurement of 650,000 megawatt-hours (MWh) of environmental attributes over three years will reduce its carbon footprint by more than 55,000 metric tons of CO2 equivalent annually and will lower the carbon intensity of its Massachusetts operations by approximately 78% percent compared to a 2008 base year. Boston Properties has publicly reported sustainability goals and expects to exceed its 2025 greenhouse gas emissions intensity reduction target in 2019.

“This purchase complements our broader sustainability strategy, which includes energy efficient operations and high-performance new development,” said Bryan Koop, Executive Vice President, Boston Region, Boston Properties. “The mitigation of greenhouse gas emissions is increasingly important to our customers and communities we serve and we’re committed to working with all of our stakeholders to advance the transition to a low carbon economy.”

About Boston Properties
Boston Properties (NYSE: BXP) is one of the largest publicly-traded developers, owners and managers 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 52.7 million square feet and 200 properties, including fourteen properties under construction and 20 million square feet of green buildings certified at the highest LEED Gold and LEED Platinum levels. BXP actively works to promote its growth and operations in a sustainable and responsible manner and has earned seven consecutive Global Real Estate Sustainability Benchmark (GRESB) Green Stars and the highest GRESB 5-star Rating.

Source: Boston Properties, Inc.

AT THE COMPANY
Michael LaBelle
Executive Vice President,
Chief Financial Officer and Treasurer
(617) 236-3352

Sara Buda
Vice President, Investor Relations
(617) 236-3429
sbuda@bostonproperties.com