Oxford’s commitment to ESG

Oxford has a proud history of industry leadership in sustainability and environmental, social and governance (ESG). Around the world, our team is committed to creating economic and social value through real estate. We integrate ESG initiatives and activities across teams and the asset life cycle -- creating value in our projects, portfolio and business and building an organization that our team members are proud of. Being a leader in sustainability helps drive long-term value and return. It plays a critical part in how we cultivate connections, ensuring our positive impact extends beyond the four walls of our properties. Our teams set clear and transparent objectives to hold ourselves accountable. We strive to continually do better while learning from and inspiring others to do the same. Our focus on both the big and the small initiatives come together to make a difference, for today and tomorrow.

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Oxford’s sustainability program is focused on the following goals:

A few highlights from 2022:

  • Being recognized by leading publications including PERE as Global ESG Firm of the Year and by Fast Company, for the fourth consecutive year, as one of the World’s Most Innovative Companies for our approach to sustainability
  • 125 GW low carbon energy consumption*
  • 19% reduction in carbon emissions intensity since 2019
  • Committing to reduce portfolio carbon intensity across OMERS to 50% by 2030, as a meaningful step toward achieving our net zero 2050 commitment
  • CAD 13.2 million procured value where suppliers are providing ESG information
  • Our Green Financing Framework, launched in 2022, supports the transition to a low carbon economy. The Green Financing Framework has secured a C$600M green bond, the proceeds of which will fund the financing and/or refinancing green projects on our assets

Our commitment to ESG continues to be recognized. In 2022, the Global Real Estate Benchmark ranked our sustainability performance 4th of our peer group. In March 2023, for the fourth consecutive year, we were named to Fast Company’s Annual List of the World’s Most Innovative Companies, being recognized for how we have embedded sustainability into our decisions and actions globally and locally.

Climate change is one of the most pressing issues of our time and we are committed to continually finding ways to meaningfully adapt and future-proof our assets.

Our Green Financing Framework will finance sustainable investments and expenditures that support and drive the transition to a low carbon economy.

The Stack, one of the first zero carbon (in design) commercial high-rise in Canada is an example of this in action. The certification is the culmination of planning to pioneer the CaGBC’s Zero Carbon framework in a high-rise office tower, while considering the demands of realizing an economically viable commercial project for our stakeholders. It has given us meaningful learnings to apply to future projects and share with our peers.

The James Snow Business Park development in Canada incorporates 400,000 SF of solar panels in the first phase of development as part of the base building infrastructure. It will provide clean energy to its occupants from day one and features drought-resistant landscaping, with buildings targeting LEED certification.

Working closely with community representatives and the City of Boston, our proposal to transform an underutilized site at 125 Lincoln Street into a mixed-use commercial building was approved in fall 2022. Signficantly, Oxford is transferring its entire interest in its nearby building, 79 Essex Street, to the Asian Community Development Corporate (ACDC) to develop affordable housing and additional community retail space.

* Low-carbon energy is defined as solar, geothermal, deep lake water cooling, low carbon district heating, RECs, and electricity from grids with less than 15g CO2 / ekWh

Creating a sustainable future requires ongoing focus and commitment. As an organization we have a lot to be proud of but also a long way to go. We will continue to advance ESG at Oxford and to share our progress with you with the same clarity and transparency that our program was founded on.

Solar powered retail

We're investing in a sustainable future by installing over 175,000 square feet of solar panels at our shopping centres.

Solar Powered Retail

Our approach to ESG

Ever wondered what our ESG strategy is here at Oxford? Our own Anushka Grant gives insight on the CREtech podcast, Climate Cast with Michael Beckerman.