1 The Net Zero Asset Managers (“NZAM”) initiative is an international group of asset managers committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5 degrees Celsius; and to supporting investing aligned with net zero emissions by 2050 or sooner. As a signatory to the NAZM initiative, BGO has pledged to work in partnership with asset owner clients on decarbonization goals, consistent with an ambition to reach net zero emissions by 2050 or sooner across all assets under management. More information is available at https://www.netzeroassetmanagers.org.
2 GRESB awards are based on GRESB’s assessment of seven sustainability aspects, using 50 real estate-related indicators. The assessment includes information on property performance indicators, such as energy consumption, greenhouse gas emissions, water consumption and waste. Details of the questionnaire and GRESB’s assessment and weighting of responses are available at https://gresb.com/gresb-real-estate-assessment/. GRESB B.V. (GRESB) created and tabulated each strategy’s score, which covers activities taking place during each calendar year and is typically released on or around October 1 of the following year after materials for the strategy are submitted to GRESB. In order to obtain a rating, the strategy must pay a participation assessment fee for submission to GRESB.
3 PRI ratings are granted by the PRI Association (“PRIA”), a United Nations-supported organization. BGO pays fees to PRIA as part of its submission to PRIA to assess how it, as a signatory of the Principles for Responsible Investment, has progressed year-over-year and relative to peers. Previously the investment categories were evaluated utilizing six performance bands (A+, A, B, C, D and E), where A+ distinguishes the top scoring signatories, representing a score of 95% or above. This methodology has been recently changed and the investment categories are evaluated and given a score out of 5 stars, where 5 stars represents 90%–100% score. Submissions to PRIA cover a 12-month period. For further information please see www.unpri.org.
4 ENERGY STAR Partner of the Year awards are awarded by the United States Environmental Protection Agency (EPA). An Energy Star Partner of the Year Award is the highest level of EPA recognition, reflecting the EPA’s assessment that the partner perform at a superior level of energy management and demonstrates best practices across the organization, proves organization-wide energy savings and participates actively and communicates the benefits of ENERGY STAR. More information is available at www.energystar.gov.
5 The Fitwel Champion program is led by the Center for Active Design, via Fitwel®, the world’s leading certification system committed to healthy buildings for all. Fitwel Champions must register 20 assets upon signing and certifying at least 10 or more projects over the 24-month period. Certifications are issued on a rolling basis and are valid for three years. Properties must re-certify to maintain certification standing. Properties must pay certification fees to pursue Fitwel certifications. More information is available at www.fitwel.org.
6 The 2023 PREA Real Estate Investment Management ESG Award recognizes PREA members at the forefront of ESG within real estate investing, and provides the industry with examples of best practices in ESG. Our core Canadian strategy won in the open-ended category. There is no fee for the award, but recipients have to be PREA members.
7 BGO has committed to seven equity, diversity and inclusion (EDI) related initiatives, including Paradigm for Parity, BlackNorth Initiative, Institutional Limited Partners Association (ILPA)’s Diversity in Action, CFA’s Diversity, Equity, and Inclusion Code, CRE Pledge for Action, Building Industry and Land Development Association (BILD)’s Diversity, Equity & Inclusion Leadership Statement and Holland Bloorview’s Dear Everybody campaign.
8 Environmental performance data (greenhouse gas emissions, energy, water, waste, green building certifications) included in this report represents BGO’s core North American equity strategies and select separate accounts. Data from BGO’s global debt series and mortgage investments, U.S., European and Asian Core Plus and Value-Add strategies, Strategic Capital Partners (secondaries) and separate accounts have been excluded unless otherwise noted.
9 Our Scope 3, Category 15 emissions exclude waste and cover BGO’s core North American equity strategies and select separate accounts. Please refer to our methodology document, Annex 1, on our website to learn more about our approach and data coverage. Select environmental data has been assured to a limited level by KPMG. Please see our Selected Environmental Indicators Report on our website for the data that is assured by KPMG and KPMG’ limited assurance statement
10 Certification rate based on net-rentable area, and as of December 31, 2022.
11 Savings is from landlord-tracked utilities for our North American Core strategies. Data utilized from 2019 to 2021 was adjusted to reflect 2022 weather, utility rates, occupant density (office only), and sub-metered exceptional loads. 2022 data is actual (non-adjusted).
