The Disclosure Challenge

Tenants, investors and the public are increasingly asking questions about commitments to sustainability and transparency in the real estate industry. To voluntarily disclose building data on energy, water and carbon is to demonstrate that transparency is a core value, and a commitment to sustainability and continuous improvement is a good business practice.

Tracking a building’s performance and publicly disclosing the data is not new. Many European and American states and cities have been requiring building energy disclosure and benchmarking for years. However, public energy disclosure is in its infancy in Canada. Ontario is currently the only province that requires building energy data to be publicly reported.

With the “Disclosure Challenge,” CaGBC aims to demonstrate the value of data transparency and remove barriers within the wider real estate community, which will enable more municipal and provincial jurisdictions to move forward with requirements for the public reporting of building performance data.


Building performance, when collected and shared, is a powerful data set that can propel Canada’s retrofit economy. With the Disclosure Challenge, we hope to increase understanding of how buildings are performing and where they can be improved, which will help governments identify the sectors and building types most in need of retrofit to achieve maximum emissions reductions. We know the real estate industry supports disclosure not just in terms of good business practice and making smart decisions for investors, but also as part of their role in supporting governments to create healthy, low-carbon cities.

   - Thomas Mueller, President and Chief Executive Officer at CaGBC

 



Participating Organizations:

QuadReal Property Group, Triovest Realty Advisors Inc., Concert Properties Ltd. have each volunteered to participate in CaGBC’s Disclosure Challenge, and are disclosing energy, water and carbon data across their building portfolios. Each participating organization has agreed to full transparency and will disclose their entire portfolio – high and low performing buildings – as part of the challenge.

Each of the participants will submit a list of buildings that will be included in the program; collect and submit portfolio-wide data for covered buildings to program administrators; identify outlying buildings and submit additional contextualizing information; and work with program administrators to fill data gaps leading up to the disclosure of information.

The CaGBC will host a publicly-available interactive online mapping tool to enable the participants’ disclosed data to be available to designers, building operators and energy management professionals, municipalities, researchers and the public. Participants will be required to disclose data from their buildings, both good and bad performers, to complete the challenge.

The results of the Disclosure Challenge will be made publicly available at CaGBC’s “Building Lasting Change” conference in May, and a final report will be released in the fall of 2019, with key findings and recommendations on next steps to drive greater energy disclosure adoption.

 

 

Concert logo

Concert Properties is an enthusiastic supporter of the CaGBC’s Disclosure Challenge. Our company is committed to transparency and recognizes the need for our industry to show leadership in the reporting and reduction of energy use and carbon emissions. Through our participation we hope to show that we are not only active partners in helping fight climate change, but also responsible asset managers and community builders.

- Brian McCauley, President and Chief Executive Officer of Concert Properties

 

QuadReal logo

We understand what buildings mean to people and what they contribute to local communities. At QuadReal, we believe disclosing information about energy, water and carbon usage benefits owners, managers and tenants, and enables better decision-making leading to greater energy efficiency. There is also growing demand from tenants for this type of disclosure and access to environmental information. We are excited to participate in this challenge and look forward to seeing more organizations take part in the future.

- Jamie Gray-Donald, Senior Vice-President, Sustainability and Environmental Health and Safety at QuadReal Property Group.

 

Triovest logo

Triovest supports the adoption of a harmonized approach to disclose building energy and emissions performance data in Canada. Triovest is committed to transparency, energy and emissions reductions, and responsible management. We find that when we share our sustainability performance information and objectives publicly, it compels us to deliver outstanding results.

- Philippe Bernier, Vice President, Innovation and Sustainability at Triovest.

 
 

About the Participants:


 
Concert Properties
Founded in 1989, Concert specializes in developing rental apartments, condominium homes and retirement communities, acquiring and developing commercial, industrial and infrastructure properties and in property management. With operations across Canada and the backing of more than 200,000 Canadians represented by the union and management pension plans who own Concert, our commitment is to build strong, sustainable communities across Canada. www.ConcertProperties.com
 
QuadReal Property Group
Headquartered in Vancouver, Canada, QuadReal Property Group is a global real estate investment, operating and development company. The company’s $27.4 billion portfolio spans 23 Global Cities across 17 countries. QuadReal was established to manage the real estate program of British Columbia Investment Management Corporation (BCI), one of Canada’s largest asset managers with a $155.6 billion portfolio. QuadReal aims to deliver prudent growth and strong investment returns, and to create and sustain environments that bring value to the people and communities it serves—now and for generations to come. For more information, QuadReal.com.
 
Triovest Realty Advisors Inc.
Triovest is an entrepreneurial leader in institutional real estate, creating sustainable places that enhance communities and enrich relationships. Triovest fosters a hands-on approach to value creation for our clients through innovation and collaboration. Our platform offers advisory and investment management services with over $10 billion in assets under management and $2 billion in development. From offices in each major market across Canada, Triovest combines local intelligence with deep expertise to drive superior returns. To learn more, please visit www.triovest.com
 
 

The CaGBC Disclosure Challenge was made possible through financial contributions from the Government of Canada (Natural Resources Canada). Additional support was provided by QuadReal and the Real Estate Foundation of B.C.


 

Concert logo

Concert logo