RioCan is pleased to announce that we continue to lead the real estate industry on Environment, Social and Governance (ESG) with the achievement of a 5 Star rating from for our performance on ESG performance and sustainability best practices. The highest recognition available, this 5 Star rating places RioCan in the top quintile of our North American peers, according to the . Additionally, RioCan has ranked first amongst Canadian peers in the . RioCan’s exceptional performance reflects our rigorous commitment to embedding ESG and sustainability best practices throughout our business.
We know embedding sustainability improves business value because it:
- Aligns with our business strategy to own and operate attractive assets in Canada’s major markets;
- Helps us build for future market expectations, regulatory requirements, and technology opportunities
- Benefits our communities
As a large Canadian REIT, RioCan strives to lead the industry in having conversations about more sustainable options in the communities where we operate – conversations with all our stakeholders, including customers, tenants, employees, co-owners, investors, planners, regulators, and suppliers.
For more information, please review RioCan’s Sustainability ReportTrang web uy tín and below.
Green Financing
Raising Funds to Invest in Environmentally Sustainable Projects
Trang web uy tínRioCan announced the launch of its Green Bond Framework on March 4, 2020. It outlines the types of eligible projects, process to evaluate and select projects, manage the funds and report on progress and impact. Additionally, the Green Bond Framework has received a second-party opinion by Sustainalytics, a global leader in providing ESG research and analysis.
Trang web uy tínOn March 10, 2020 lechticreux.completed the inaugural Green Bond offering with an issuance of a $350 million, 7- year bond at 2.361% interest rate for net proceeds of $348 million.
Integrating Sustainability Priorities into Decision Making at All Stages of an Asset’s Life Cycle
1. Strategic Planning
Trang web uy tínIdentify and assess material ESG risks to update the materiality matrix, which ranks key risks in order of importance for the following year.
2. Acquisitions
RioCan retains a third-party environmental consultant to conduct an environmental review for all acquisitions. In the future, we plan to expand our consideration of ESG factors in the acquisitions due diligence process.
3. Operations / Asset Management / Leasing
Trang web uy tínOur Operations and Asset Management departments apply our sustainability and environmental guidelines for operations. They also consider budgeting for sustainability initiatives. Our Leasing department includes green lease clauses to outline our continuous commitment to sustainability through leasing and tenant construction.
4. Development / Redevelopment / Construction
Once we have selected an asset for renovation or redevelopment, we work with relevant parties to establish sustainability goals, and we apply our sustainability guidelines for development/construction.
RioCan’s Long Term Sustainability Goals:
Trang web uy tínRioCan’s sustainability strategy includes setting long-term goals on topics such as resource efficiency (energy, water and waste) and GHG emissions, representing key sustainability issues and opportunities our industry faces.
Trang web uy tínRioCan’s Long-Term Reduction Targets by 2030*
13%
reduction of like-for-like energy use
10%
reduction of like-for-like water consumption
15%
reduction of like-for-like GHG emissions
60%
waste diversion rate
*Targets apply to select RioCan properties.
Sustainability at a Glance
GRESB Score up
33 points
since 2017
Highest GRESB Public Disclosure Score
Achieved an “A” disclosure score
Completed over
124 LED
Trang web uy tínretrofit projects
61 BOMA BEST certifications
Trang web uy tínachieved, representing about 37% of GLA
42 seminars conducted
to improve awareness on waste management among tenants
28 community consultations
completed across 10 development projects in advance of project start
Policy for Sustainable Developments
Developed a policy, plan and set of commitments to embed sustainability in our development and construction processes
Diversity
44%Trang web uy tínof the total management positions are held by women
33%Trang web uy tín of the Board of Trustees are women
100% of Property Managers Engaged
in RioCan’s annual environmental questionnaire
AS OF 2019
Our platform for Sustainability Focuses on Three Areas:
People
Our people are the driving force of our business: tenants, partners, employees and investors. Starting with a safe place to live, work and shop at, we conduct business with integrity and transparency and strive to create mutually beneficial partnerships with our stakeholder groups.
Trang web uy tínExamples of our commitments to people include:
- Engaging with our tenants, partners, employees and investors regularly to evaluate and evolve sustainability initiatives
- Striving for diversity so that our management teams and employee base reflect the diverse communities in which we operate
- Using sustainability as a platform for employee development, engagement programs and recruitment
- Collaborating and cooperating with tenants to adhere to joint sustainability goals
- Educating our stakeholders on how sustainability creates value to the company
- Engaging our partners in contributing towards our sustainability goals from the onset
Community
Trang web uy tínWe are established pillars of our communities, and as such, our community leadership practices have been created based on our history of investing, operating and developing within each of our communities. RioCan strives to make each of our centres a safe and integral part of the local environment with appropriate lighting in parking lots, presenting a clean and safe space that is accommodating to all staff.
Trang web uy tínCommunity leadership builds on our history of investing in the communities where we operate and develop.
Examples of our community commitments include:
- Acting as community stewards by proactively building relationships with while contributing to the communities in which we operate
- Supporting our Developments, Construction, Operations, Asset Management and Investment teams to create healthy, resource-efficient and durable buildings by having clear guidelines on sustainability
- Continuing to give back to our communities by investing in community initiatives that align with our values and sustainability priorities
Environment
Trang web uy tínEnvironmental sustainability is an integral component of our overall vision for the future. Our leadership aims to minimize the environmental impacts of our properties and developments to ensure a sustainable and clean environment for future generations.
Trang web uy tínEnvironmental leadership strives to minimize the environmental impacts of our properties and developments.
Trang web uy tínExamples of our environmental commitments include:
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Trang web uy tínSupporting our properties in embedding sustainable practices by providing standards, guidelines and training
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Investing in programs and equipment that enhance energy and water efficiency, indoor air quality and minimize waste to landfill
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Trang web uy tínExamining the viability of implementing renewable energy at new developments
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Protecting and enhancing the natural environment, where feasible
As part of our pledge for continuous improvement, we have committed to participating in the survey.
Proud Supporters of:
Executive Responsibility & Sustainability Steering Committee
Trang web uy tínWe have a Sustainability Steering Committee comprised of cross functional Executive and Leadership team members to oversee our sustainability strategy implementation and to drive performance improvements. Steering Committee members sponsor and provide guidance on sustainability initiatives within the organization and enable performance measurement. In addition, we have dedicated environmental and sustainability resources to manage day-to-day sustainability strategy implementation.