BXP Releases 2021 Environmental, Social & Governance (ESG) Report
April 21 2022 - 4:38PM
Business Wire
Report Details KPIs, Progress Towards BXP’s ESG
Goals, and Continued Focus on Strategic Climate Action, Climate
Resilience, Diversity & Inclusion, Healthy Buildings, and
Community Engagement
Boston Properties, Inc. (NYSE: BXP), the largest publicly traded
developer, owner, and manager of Class A office properties in the
United States, today announced the release of BXP’s 2021 ESG
Report.
2021 Highlights include:
- Remaining on track to achieve carbon-neutral operations by
2025
- Increasing Board oversight through a dedicated Sustainability
Committee
- Executing on actionable diversity & inclusion initiatives
and goals
- Issuing an aggregate of $1.7 billion of “Green Bonds”
- Adding a sustainability-linked pricing component tied to the
achievement of green building certification targets to a credit
facility
“BXP’s commitment to ESG extends throughout our operations and
is a key factor driving our decisions, making us a more purposeful
organization,” said Owen Thomas, CEO of BXP. “We are committed to
maintaining our leadership and advancing our efforts in the areas
most impactful to our stakeholders including energy use, carbon
neutrality, climate resilience, diversity, and community
engagement.”
Carbon-Neutral Operations
In 2021, BXP committed to achieving carbon-neutral operations
from its occupied and actively managed buildings by 2025 and
remains on track to meet this goal. Progress toward the goal
includes maintaining energy efficient operations, increasing
renewable power to 70% of total procurement, and reducing Scope 1
and 2 greenhouse gas emissions intensity 80% below a 2008 base
year. BXP had previously established an emissions reduction target
ambition in line with a 1.5°C trajectory, the most ambitious
designation available at the time of submission under the Science
Based Targets initiative, making BXP the only North American office
company to earn this distinction by 2020.
Board Oversight
In 2021, BXP’s dedicated Sustainability Committee of the Board
of Directors was formed to assist the Board of Directors in its
risk oversight responsibilities. The Sustainability Committee also
serves as a direct resource to management by imparting information,
knowledge, and ideas related to environmental sustainability
matters, including best practices, developing trends, and potential
issues. Key focus areas of the committee in 2021 were climate risk
scenario analysis and alignment with the recommendations of the
Task Force on Climate-related Financial Disclosures.
Diversity & Inclusion
BXP’s Diversity & Inclusion Committee, established in 2020
and reporting directly to Executive Leadership, continued its work
to promote diversity, inclusion, equality, and transparency as part
of BXP’s culture, business activities, and decision-making
practices, while also providing a mechanism for positive impact in
the community. 2021 key D&I initiatives included the
identification of actionable diversity goals; the launch of three
employee resource groups for Women, BIPOC/Multi-cultural, and
LGBTQ+ employees; working with minority-owned business to provide
commercial real estate space on attractive terms; procurement of a
minority and woman-owned bank to act as co-manager in two Senior
Unsecured Note offerings; and engaging with vendors using surveys
to assess their sustainability and D&I practices.
Leadership in Healthy Buildings
BXP continued and expanded its alignment with Fitwel, the
world’s leading healthy building certification system. BXP was
named a 2022 Best in Building Health award winner by the Center for
Active Design for the Most Approved Assets under the Fitwel Viral
Response Module.
“These last couple of years have highlighted the need for
leadership from real estate in addressing some of the greatest
challenges of our time: the climate crisis, health security, and
social justice,” said Ben Myers, VP, Sustainability, BXP. “We will
continue to demonstrate our values by establishing and executing
ambitious goals that deliver positive economic, social, and
environmental outcomes. In partnership with our stakeholders, we
can build a better, more prosperous future for all."
BXP’s 2021 ESG Report provides details on BXP’s ESG approach,
goals, key performance indicators, leadership, and reporting
methodologies related to environmental impact, social impact, and
governance. The complete report is available under the Commitment
section of bxp.com.
About BXP ESG
BXP’s commitment to ESG leadership has been recognized by
numerous industry groups and rankings, including BXP’s recent
inclusion as #4 on the 2021 Forbes Green Growth 50 list and #3 on
Barron’s 10 Most Sustainable U.S. REITs list. BXP was named to
Newsweek’s America’s Most Responsible Companies 2022 list, ranking
first in its industry with an increased ranking of 31st overall out
of the 499 companies included on list. BXP recently earned a tenth
consecutive “Green Star” recognition in the 2021 GRESB® assessment
and a GRESB 5-star rating. BXP has been a leader in green building
and has certified 28.5 million square feet of its current
in-service portfolio at the highest LEED certification levels of
Gold and Platinum. In 2021 BXP was named an ENERGY STAR Partner of
the Year – Sustained Excellence Award Winner and a Best in Building
Health winner by the Center for Active Design.
About BXP
Boston Properties (NYSE: BXP) is the largest publicly traded
developer, owner, and manager of Class A office properties in the
United States, concentrated in six markets - Boston, Los Angeles,
New York, San Francisco, Seattle, and Washington, DC. BXP 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. Including properties owned by unconsolidated joint ventures,
as of December 31, 2021, BXP’s portfolio totaled 52.8 million
square feet and 201 properties, including nine properties under
construction/redevelopment. For more information, please visit our
website at www.bxp.com or follow us on LinkedIn or Instagram.
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version on businesswire.com: https://www.businesswire.com/news/home/20220421006072/en/
At the Company Laura Sesody Vice President, Corporate
Marketing & Communication lsesody@bxp.com Helen Han Vice
President, Investor Relations hhan@bxp.com
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