2020 ESG Report Details Performance and Strategic Climate Action, Climate Resilience, Diversity and Inclusion, Health Security, and Community Involvement Efforts
Issued by Boston Properties
BXP’s dedication to leadership in ESG is illustrated in this report, which outlines our commitments and achievements in environmental impact, social impact, and governance initiatives.
Boston Properties, Inc. (NYSE: BXP) released its 2020 Environmental, Social & Governance (ESG) Report detailing the Company’s ESG approach, goals, KPIs, leadership, and reporting methodology related to environmental impact, social impact and governance. The complete report is available under the Commitment section of the Company’s website.
“Our steadfast commitment to ESG allows BXP to be a more purposeful company. Focusing on ESG is both the right and smart thing for us to do,” said Owen Thomas, CEO, BXP. “The important role of real estate companies in addressing the climate crisis and the opportunities for BXP to provide leadership have never been more evident. Today’s announcement reinforces our ongoing dedication to advancing our efforts in the areas where we can have the greatest impact including energy use, carbon neutrality, climate resilience, diversity and inclusion, health security, and community engagement.”
Highlights of BXP’s 2020 ESG Commitments & Achievements:
Committed to achieving carbon neutral operations by 2025. The commitment includes direct and indirect Scope 1 and Scope 2 emissions from the Company’s actively managed office portfolio, including emissions associated with total, whole-building energy consumption (landlord and tenant). 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. In 2020, BXP was the only North American office company with this distinction.
Board of Directors Sustainability Committee
BXP's Board of Directors formed a new committee of the Board dedicated to BXP’s sustainability activities, including climate action and resilience initiatives. The Committee assists the Board of Directors in its risk oversight responsibilities and serves as a direct resource to management with the primary purpose of imparting any information, knowledge and ideas related to environmental sustainability matters, including best practices, developing trends and issues.
BXP Diversity & Inclusion Committee
BXP established an internal Diversity & Inclusion (D&I) Committee in early 2020, reporting directly to Executive Leadership, to identify and pursue actionable goals and initiatives, and support the Company’s efforts to create a positive impact in the quest for fairness and social justice in the company and in the communities in which the Company operates. The D&I Committee identified actionable goals and proposed initiatives in the areas of recruitment and development, company policies, and community outreach.
Leadership in Healthy Buildings
BXP has been leading the adoption of healthy building practices and was named a 2020 Best in Building Health award winner. The Company has aligned with Fitwel, the world’s leading certification system. BXP completed the first Fitwel Design Certified project in the world and executed more Fitwel certifications by count and building area than any other company in 2019.
In 2020, BXP received Fitwel Viral Response enterprise certification, a module that incorporates strategies that create healthy indoor environments and mitigate viral transmission. With this certification, the Center for Active Design (CfAD), which operates Fitwel, has confirmed that BXP’s approach to Health Security, detailed in BXP’s Health Security Plan, aligns with evidence-based strategies for mitigating the spread of infectious respiratory diseases in the workplace.
About BXP ESG
Numerous industry groups have recognized BXP’s commitment to ESG leadership. The Company has earned the highest 5 Star 2020 Global Real Estate Sustainability Benchmark (GRESB) rating, nine consecutive GRESB Green Star ratings and an “A” disclosure score. The Company also earned top marks in Leadership, Policies, and Reporting in the GRESB assessment, as well as several categories specific to sustainable operations. In addition, BXP is a recognized leader in environmental responsibility, securing the 2021 ENERGY STAR Partner of the Year – Sustained Excellence award and the 2020 Best in Building Health award. The Company has aligned its emissions reduction targets with climate science and, in 2020, completed the Science Based Targets initiative approval process. LEED certified properties now total more than 27.7 million square feet, more than half of BXP’s actively managed office portfolio, 96% of which are certified at the highest Gold and Platinum levels. BXP was also named one of America’s Most Responsible Companies by Newsweek magazine, ranking 56th on Newsweek's 2021 list of America’s 400 Most Responsible Companies, the highest ranking given to an office REIT and the second highest ranking of any property company.
About Boston Properties
Boston Properties (NYSE: BXP) is the largest publicly traded developer, owner, and manager of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company 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. The Company’s portfolio totals 51.2 million square feet and 196 properties, including six properties under construction/redevelopment. For more information about BXP, please visit our website at www.bxp.com or follow us on LinkedIn or Instagram.
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