Environment Climate-proofing our portfolio
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We focus on the environmental impacts to and from our property developments and operations. We are putting our assets on a net zero carbon pathway and improving climate resilience to support both climate change adaptation and mitigation.
We are focused on three categories of activity to create positive environmental outcomes and adapt to climate change:
Net zero carbon
Reducing our carbon emissions through a portfolio-wide decarbonization strategy with asset-specific approaches and renewable energy generation, as well as engagement with partners, platform investments and customers
Climate resilience
Increasing our climate resilience through the management of climate risks across our portfolio
Nature
Committing to building and placemaking design choices that support biodiversity and promote customer access to nature
reduction in carbon footprint (absolute carbon reduction)
reduction in carbon emissions intensity
reduction in energy intensity
of our Asset Managed portfolio either have a decarbonization plan in development or have already completed one
Net zero carbon
Oxford is targeting net zero operational carbon emissions in our portfolio by 2050, in alignment with OMERS net zero commitment. We are advancing decarbonization across our global portfolio by developing decision-making tools and tailored decarbonization solutions that reflect the diversity of our assets, and realistically dovetail with the business plan.
We are tackling our portfolio’s transition to low carbon through a systematic, science-aligned process beginning with our Asset Managed assets. To reach our goal, we have developed an iterative approach to define and identify asset-level activities and milestones that will result in a net zero carbon portfolio, while evaluating, learning and adjusting as we go.
Deploying solar photovoltaic systems on the rooftops of industrial and logistics buildings has become a key strategic priority as we work towards sustainable operations. These on-site projects allow us to generate clean energy while creating long-term value.”
Chris Brown, IDI Logistics, an Oxford Platform Company Solar Development & ESG Director
The Stack, Vancouver
Our Carbon Emissions Forecast Model in practice
In 2023, Oxford launched its Carbon Emissions Forecast Model based on CRREM’s Risk Assessment Tool. The model measures the portfolio’s carbon emissions, calculates pathways to reduce these emissions, and sets carbon and energy targets at an asset and portfolio level.
This model is unique as it leverages both a top-down and bottom-up approach. If an asset does not have a decarbonization study, then a top-down approach is applied where an asset’s historical energy consumption is inputted directly to the model, along with potential carbon reduction measures and their associated costs. The model selects which carbon reduction measures will be applied based on the building type and the climate zone the asset is located in.
This top-down model is limited as each asset is unique. To ensure the information is as accurate as possible, a bottom-up model is also used based on decarbonization studies. These studies provide asset-specific carbon reduction measures based on their historical energy consumption, age, equipment, façade etc. These measures are then fed into the model.
We are encouraging our sites to conduct a decarbonization study and have provided an Asset Decarbonization Toolkit to assist them in their journey.
At a portfolio level, this model has enabled us to understand priority areas and engage with the assets that have the largest decarbonization potential. At an asset level, it has enabled teams to understand their performance against the 1.5°C decarbonization trajectory and identify their reduction targets.