Toronto, ON – September 27, 2016 – Cadillac Fairview is pleased to the announce the Company has achieved a Green Star ranking in the Global Real Estate Sustainability Benchmark (GRESB) Survey in its first year of participation. GRESB is the global standard for accessing sustainability in real estate and the Green Star signifies a strong performance in Environmental, Social and Governance (ESG) management, policy, risk and opportunities, stakeholder engagement, implementation and measurement. A total of 759 real estate companies from 63 counties, representing $2.8 trillion in asset value, participated in this year’s survey.
“At Cadillac Fairview, corporate responsibility is integral to our overall corporate strategy and success as a company. We recognize the interrelationship between environmental, social and governance practices and their impact on the communities in which we operate,” stated John Sullivan, President and CEO, Cadillac Fairview. “We are proud of our performance in our first year of participation in the GRESB Survey and will continue to invest in ways to elevate our corporate responsibility program to meet the highest ESG industry standards relevant to our portfolio and to positively impact the communities in which we operate.”
In addition to the Green Star ranking, Cadillac Fairview’s key rankings also included a top place for Diversified-Office Retail in Canada and second place for the Diversified-Office/Retail/Non-Listed in North America.
The GRESB survey is issued annually and evaluates the performance of participating real estate organizations on a host of Environmental, Social and Governance (ESG) factors. GRESB’s unique data on ESG performance of property companies and fund managers allows investors to better manage ESG risks and to enhance returns. Participation in the survey is voluntary and allows organizations to understand their performance relative to their peers and thereby identify strategic areas for improvement.
United Nation’s Principles for Responsible Investment
Cadillac Fairview is also pleased to announce that for the second consecutive year, the Company received an A+ grading for the property module of the Ontario Teacher’s Pension Plan’s (OTPP) submission to the United Nation’s Principles for Responsible Investment.
This international network grew out of an initiative set in motion in 2005 by the United Nations Secretary-General to develop a voluntary framework for incorporating environmental, social and governance issues into investment decision-making and ownership practices. Almost 1,400 asset owners, investment managers and professional service partners have signed on, representing US $59 trillion in assets under management. For more information, visit unipri.org.
In 2015, Cadillac Fairview adopted a more comprehensive alignment of its Corporate Responsibility strategy with its overall business strategy and organizational values, with clear objectives and measures that provide focus and priority to current and new initiatives. For more information please visit cadillacfairview.com and read the 2015 Corporate Responsibility report.
About Cadillac Fairview
Cadillac Fairview is one of the largest owners, operators and developers of best-in- class office, retail and mixed-use properties in North America. The company also invests in retail, mixed-use and industrial real estate in Brazil, Colombia and Mexico.
Valued at more than $29 billion, Cadillac Fairview owns over 38 million square feet of leasable space at 72 properties in Canada, including landmark developments, such as Toronto-Dominion Centre, CF Toronto Eaton Centre, CF Pacific Centre and CF Chinook Centre. Cadillac Fairview has been wholly owned by the Ontario Teachers’ Pension Plan since 2000. Ontario Teachers’ is a diversified global investor and administers the pensions of more than 300,000 active and retired school teachers.