GRESB Awards QuadReal with Top ESG Ranking in 2023 Real Estate Assessment

GRESB 2023

Company’s diversified Canadian portfolio ranks 3rd

QuadReal Property Group (“QuadReal”) has been recognized for its continued commitment to environment, social and governance (ESG) transparency by GRESB, the leading global sustainability benchmarking organization. QuadReal’s diversified Canadian portfolio of office, industrial, retail and residential assets was awarded 3rd place in Canada and 6th in the Americas in this year’s Real Estate Assessment.  

“QuadReal’s continued placement in the top quartile of GRESB rankings for the past four years reflects how deeply we have embedded sustainability, data-backed insights and transparency into our operations and strategic planning,” said Jamie Gray-Donald, Senior Vice President of Sustainability & Environmental, Health & Safety, QuadReal. “Our strategy to get us to net zero reflects our commitment to deliver financially solid investment properties while meeting the sustainability expectations of our clients and stakeholders.” 

The 2023 results complement QuadReal’s top GRESB rankings from the previous four years and reflect progress on its commitment to achieve a 50 per cent carbon reduction goal across its Canadian operations by 2030, and net zero globally by 2050.

QuadReal’s success in achieving key process improvements and outcomes is the result of efforts made across its operations, including: 

  • Leveraging data as a first step in optimizing and planning for a net zero future, including Scope 3 emissions. Since 2022, QuadReal has increased energy data coverage across its warehouse portfolio from 30% to 70% through tenant utility consumption reporting and participating in energy benchmarking programs.
  • Incorporating digital tool and insights from Indoor Air Quality (IAQ) to waste. Sensors on waste equipment are already significantly reducing both frequency of collection and contamination. 
  • A more holistic approach to supporting health and social well-being with increased Fitwel certification of its Canadian office portfolio from 40% to 60%. QuadReal is on pace for 100% in 2025, indicating a significant push toward achieving full Canadian certification from one of the world’s leading healthy building certification systems. 
  • Continuing to build capacity for retrofits to support its net zero target through extensive internal engagement, carbon audits and planning. 

GRESB assesses and benchmarks the ESG performance of more than USD 8.6 trillion of assets worldwide. These assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations.  

Institutional investors are increasingly looking for comprehensive, companywide ESG metrics to benchmark performance. GRESB data is used by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios and to better understand the opportunities, risks and choices that need to be made as the industry transitions to a more sustainable future. 

About QuadReal Property Group

QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management are $73.8 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating companies in which it holds an ownership interest.  

QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come. 

QuadReal: Excellence lives here.