Delivering on our commitment to sustainability
Our approach to sustainability
As we look ahead, we remain committed to embedding sustainability considerations across our global portfolio. We are focused on reducing emissions, managing physical risk, and creating long-term value. By aligning with partners who share our vision, we are progressing the stages of real estate to benefit our members and the communities we serve.
Alysha Valenti, Executive Vice President, Chief Legal & Public Affairs Officer
Our ESG progress
As we continue our journey to further integrate sustainability considerations within our business strategy and continue to develop our decarbonization approach, the following key messages summarize our 2024 progress:
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Collaborating through leadership and industry engagement to integrate ESG considerations across the value chain.
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Integrating ESG throughout our business model, investment activity and risk management approach.
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Managing physical risks proactively to help enhance climate resilience across our portfolio.
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Taking a tailored approach to decarbonizing that can help us achieve our net zero goal by 2050.
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Aiming to strengthen communities and economies through custom placemaking strategies and charitable contributions.
Footnotes:
[1] scope 1 and 2 emissions
[2] The scope is limited to the Oxford Asset Managed Portfolio of buildings, which reflects the portfolio of real estate assets which Oxford owns and manages as of December 31, 2024.
[3] Representing 37 million sq ft of Oxford sites
[4] “Green certification” is defined by the Global Real Estate Benchmark as “[R]ecognition that a project has received a green building rating. A certificate indicates the name and location of the project, version of the rating system, date of certification, and level of recognition”.
Translating our sustainability ambitions into meaningful, lasting impact requires a focus on execution. To that end, we’ve built a foundational framework to empower our teams to embed sustainability considerations into our daily investing and operating models.
Hala El Akl, VP, Sustainable Investment & Operations, Chair of Global ESG Working Group
Our Green Financing Framework and Green Bond Report
At Oxford our mission is to create economic and social value through real estate. Our Green Financing Framework aims to embody these values. Established in 2022, this framework helps us manage the transition to a low carbon economy by influencing the operations of our business to factor sustainability considerations into its investments and expenditures.
Aligned with the International Capital Markets Association (ICMA) Green Bond Principles and the Loan Market Association (LMA) Green Loan Principles, our framework has been reviewed by Sustainalytics, a leading ESG research firm. Proceeds from our green financings are dedicated to investments and expenditures in the following categories:
- Green buildings
- Renewable energy
- Energy efficiency
- Clean transportation
- Sustainable water and wastewater management
- Pollution prevention and control
- Climate change adaption
Since 2022, we've issued $600M in green bonds, with net proceeds being fully allocated to eligible green projects. Our Green Financing Framework exemplifies our long-standing commitment to sustainability and leadership in the industry.
Taking action to reach net zero
Our goal is to reach net zero by 2050 or sooner
Our goal is to reach net zero emissions by 2050, in line with OMERS' ambition as outlined in the OMERS Climate Action Plan. We're advancing decarbonization with a thoughtful approach, based on scientific principles, including tools and solutions tailored to our diverse assets. This ongoing process involves continuous evaluation and adaptation.