Despite the increasingly competitive nature of the GRESB Assessment, we are proud to share that CommonWealth Partners (CWP) maintained their top rank in 2021 as 1st in U.S. Office Corporate High-Rise in the Standing Investments Benchmark for the second year running. 2021 marked the 8th year CWP has participated in the assessment and has once again earned a GRESB 5 Star Rating.
CWP was also awarded the prestigious title of the Office Overall Regional Sector Leader. The GRESB Sector Leader Award recognizes real estate and infrastructure companies, funds and assets that have demonstrated outstanding leadership in sustainability each year. Sebastien Roussotte, CEO of GRESB, explains, “Sector Leaders are the organizations setting the pace and driving progress toward a net zero future. We are proud to recognize your determination, achievement, and leadership in creating a more sustainable world.”
“CommonWealth Partners’ high level of performance is the result of years of dedication. Since 2013, the ESG team of dedicated property managers, engineers and tenants have worked collaboratively to advance environment, social and governance practices for a comprehensive ESG program. Achieving first place in this category and the Office Overall Regional Sector Leader designation speaks to the excellence of our Class-A office portfolio that has fine-tuned our operations and programs to be at the leading edge of ESG. We are proud of this achievement and will continue to elevate our practices in the future.” - Kirsten Quezambra, Vice President for CommonWealth Partners
Each year, GRESB assesses and benchmarks the ESG performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics. GRESB data is used by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios and to better understand the opportunities, risks and choices that need to be made as the industry transitions to a more sustainable future.
The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations. The GRESB ESG Benchmarks grew this year to cover more than $6.4 trillion of assets under management, up from $5.3 trillion in 2020.
CommonWealth Partners’ Key ESG Accomplishments Include:
Industry Awards & Recognition in 2020
8th consecutive year reporting to GRESB
8 years reporting to the Climate Disclosure Project (CDP)
3rd year in a row of winning the ENERGY STAR® Partner of the Year Award
1st ENERGY STAR Sustained Excellence Award
Public Commitments, Goals & Targets
100% net zero emissions by 2050 with ULI Greenprint
Science Based Targets (SBTs) approved in 2019
Sustainable Development Goals (SGDs) alignment since 2018
The Better Building Challenge Energy, Water and Waste Commitments since 2015
Green Building Certifications for CWP Portfolio
100% of portfolio is LEED certified: 63% LEED Platinum, 37% LEED Gold by SF
64% Fitwel certified by SF
100% ENERGY STAR benchmarked, 56% of buildings labeled with average score of 86
1st 2-Star Fitwel certification for Pier 4 in Boston, and 2-Star recertification for 560 Mission in San Francisco
Environmental Performance - Energy, Water, Waste and Emissions
48% of electricity consumed in 2020 came from renewable energy sources
34% energy use intensity reduction in 2020 from 2013 baseline
51% waste diversion rate in 2020
18% water use intensity reduction in 2020 from 2013 baseline
52% CO2 emissions intensity reduction in 2020 from 2013 baseline
Charitable Giving
22 organizations across the U.S. received charitable donations from CWP in 2020
Learn more about CommonWealth Partners’ sustainability program in their 2020 ESG Report.
About CommonWealth Partners CommonWealth Partners, LLC is a vertically integrated, privately owned real estate investment, development and management organization. They are headquartered in Los Angeles with assets located throughout the United States, including New York, Washington DC, Seattle, San Francisco, Silicon Valley, San Diego, Los Angeles, and most recently Boston. They offer a wide array of services including investment and capital market transactions, portfolio management, asset management, property management, marketing, leasing, development and reporting with a clear focus on tenants and investors. Since establishing their partnership with CalPERS in 1998, together they have owned and managed over 10.5M SF of properties located in over 20 markets across the United States. In addition to high-class assets, CommonWealth Partners provides tenants and financial partners with unmatched levels of capability, experience and service. Learn more about CommonWealth Partner’s sustainability program.
About Verdani
Verdani Partners is a leading full-service consulting firm with over 20 years of experience in sustainability and ESG for real estate. Verdani currently manages ESG programs for 13 national and international real estate firms with over 4,000 properties across 900 million SF of diversified real estate portfolios, representing over $400 billion AUM.
Verdani is a GRESB Premier Partner and member of the GRESB Benchmarking Committee that manages GRESB reporting. Verdani also produces annual sustainability reports for some of the nation’s top real estate firms. The certification experts at Verdani oversee a wide range of certification systems for clients, such as Fitwel, LEED, ENERGY STAR, USGBC’s Arc Platform, WELL, Green Globes, BREEAM, IREM and more. Verdani’s corporate ESG, green building certifications, technical services, communications department and educational programs bring an impressive breadth of expertise to each portfolio and project. Learn more at: https://www.verdani.com
About GRESB
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 140 institutional and more than 2,200 fund managers, companies and asset operators to improve decision-making.
The Assessment is shaped by what investors and the industry consider to be material issues in the sustainability performance of real estate investments. The methodology is consistent across regions, investment vehicles and property types, while aligning with international reporting frameworks.
In 2021, more than 1,500 property companies, REITs, funds and developers participated in the Real Estate Assessment, representing $6.4 trillion in assets under management. The Assessment covers nearly 117,000 assets across 66 countries.
Learn more at www.GRESB.com
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