Environmental, Social & Governance (ESG)

Helping ESG Leaders Across CRE

REALPAC and our members recognize the significant environmental, social, and economic impact of the Canadian commercial real estate industry. REALPAC has been active on ESG since 2006 and continues to advance our collective sophistication through research, partnerships, best practice development, and collaboration amongst our members.

Climate change response is top of mind for many members including how to reduce greenhouse gas emissions (Scope 1 and Scope 2) from their portfolios, while at the same time enhancing adaptation measures for structures most susceptible to natural hazards occurring with much more frequency. ESG factor tracking, policy development, and disclosure is particularly important to those in public markets or on the institutional side, but the pressure also comes from most stakeholders, such as tenants, employees, and regulators. In that context, all of the industry and indeed society is affected.

Our ESG work is directed by and supports our ESG Committee, one of REALPAC’s largest and most active committees, which consists of the sustainability leaders of our member companies.

Our ESG practice targets carbon, energy, water, waste, climate risk & resilience, green leasing, health & wellness, equity, diversity & inclusion (EDI), and ESG reporting and disclosure. We also work with all levels of Canadian government to ensure sustainability policy is effective and productive for our industry and country.

In addition, we continually monitor international ESG regulations and best practices and their implications for Canada. REALPAC is an advisor to the United Nations Environment Programme Finance Initiative (UNEP FI) Property Working Group (PWG) and industry partners with GRESB and MSCI.