TORONTO, ONTARIO -- (Marketwired) -- 04/04/13 -- Energy consumption across leading real estate company Oxford Properties Group's Toronto office building portfolio has been driven down by a dramatic 11 per cent since 2010, a target reached almost two years ahead of schedule.
The reduction achieved represents enough energy to power close to 3,000 Ontario homes for one year. Oxford's energy and emissions data is collected and validated in conjunction with recognized 3rd parties and quantified in accordance with leading international standards and protocols.
A recognized leader in sustainability efforts, Oxford achieved this considerable energy reduction milestone as a participant in the Toronto's "Race to Reduce" initiative sponsored by Civic Action, which launched nearly two years ago and challenged participants to cut their energy use by 10 per cent by 2014 (relative to a 2010 base year).
"At Oxford we're committed to growing our business without expanding our environmental footprint, and sustainability continues to be one our key priorities," says Blake Hutcheson, Oxford President and CEO. "It takes a lot of work, and is an ongoing and collaborative effort among our employees, tenants, customers, co-owners and service providers with the support of our parent company, OMERS. We commend everyone who has contributed to this effort, and will continue to challenge ourselves with targets and initiatives to make our entire portfolio of Canadian office buildings more efficient."
Major actions taken included: investing in more efficient equipment, installing real-time electricity sub-meters to better manage key base building systems (e.g. lighting, heating, cooling), continually improving building management practices, working with tenants to create green teams and building wide campaigns, and highlighting real-time energy usage on digital screens to drive awareness and encourage energy reduction.
Participating buildings included:
-- Royal Bank Plaza-- TD Canada Trust Tower-- Metro Centre-- One University/Citigroup Place-- Richmond-Adelaide Centre-- Dundee Place-- 2 Bloor Street West-- Sun Life Financial Centre-- 315 Front Street-- WaterPark Place
Approximately 500 companies in Oxford's 17 Toronto office buildings are actively participating with Oxford in the Race to Reduce challenge.
Oxford's other sustainability achievements include a 29% reduction in greenhouse gas emissions across all managed properties announced in 2011, as part of its Target 2012 greenhouse gas reduction target (an industry first in Canada).
Oxford is also a winner of the Race to Reduce Action & Innovation Award in the Landlord category in recognition of achieving one of the first LEED Existing Building designations in Toronto.
Participation in Race to Reduce is part of Oxford's Sustainable Intelligence program, a formalized initiative to manage and communicate sustainability performance to stakeholders and employees. Sustainable Intelligence describes every facet of Oxford's approach - from identifying opportunities and establishing goals, to implementing plans and measuring performance. A full version of Oxford's Sustainable Intelligence report can be viewed at: www.oxfordproperties.com/sustainable.
About Oxford Properties
Oxford Properties Group is a global platform for real estate investment, development and management, with over 1,400 employees and over $21 billion of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford has regional offices in Toronto, London and New York, and the company's portfolio includes approximately 50 million square feet of office, retail, industrial, multi-family and hotel properties. Oxford is the real estate arm of the OMERS Worldwide Group of Companies. For more information about Oxford, visit: www.oxfordproperties.com.
Oxford Properties Group