Aligned with its Purpose of Transforming Communities For A Vibrant Tomorrow, Cadillac Fairview announces its commitment to supporting the transition to a low-carbon economy, announcing plans to achieve net zero emissions before 2050. A sustainable future is a key focus of the company’s Corporate Responsibility strategy, comprised of four key pillars: Our People, Our Partnerships, Our Communities and Our Planet.
Cadillac Fairview aims to act against climate change and has reduced emissions by 56% since 2008 through its Green at Work® program. Commitments include:
- Achieve net zero emissions in Cadillac Fairview’s real estate portfolio before 2050.
- Achieve an interim 35% reduction target by 2030 of Scope 1 and 2 emissions in Cadillac Fairview’s entire global real estate portfolio (from a 2017 baseline), within operational control, while measuring and managing Scope 3 emissions.
- Continue to achieve annual energy reductions per property.
Cadillac Fairview’s sustainability commitments support the global imperative to act on climate change and meet the objectives of the Paris Agreement. Its emission reductions goals are also aligned with independent, third-party decarbonisation frameworks – such as the Science Based Targets Initiative and the Carbon Risk Real Estate Monitor.
Cadillac Fairview has embedded the targets in its organisational plans and objectives and will publicly disclose the company’s progress in meeting targets. It will re-evaluate targets annually to ensure alignment with the latest scientific information.
“Sustainability is not an objective sitting on the periphery of our business, it is core to who we are, and our refreshed commitments reflect our identity. In 2008, we launched our industry-leading national sustainability program, Green at Work®, which has already reduced emissions by 56%, surpassing Canada’s national 2030 target. More recently, we reset our baseline year to 2017 and are now committed to reducing our emissions by an additional 35% by 2030.”
John Sullivan, President & CEO, Cadillac Fairview
The company also aims to show its commitment to adapting to the effects of climate change by evaluating climate risk at all properties, such as risks posed by extreme weather events. Cadillac Fairview will also aim to support a transition to a low-carbon economy through enabling low-emission transportation, such as biking and electric vehicle charging stations.
The company also intends to manage the protection of natural resources through site-specific and measurable targets in the areas of waste, water and energy, and working with suppliers and its broader network to identify additional opportunities to reduce environmental impact. Cadillac Fairview will continue to validate its sustainability efforts through independent, third-party certifications and benchmarks such as LEED, BOMA BEST and the Global Real Estate Sustainability Benchmark (GRESB), which ranked the company first in its reporting category in 2021.
“Building on the industry-leading results that we have achieved to date; we continue to do our part to take action against climate change while protecting natural resources. We will do so in a diligent, transparent and scientifically credible manner. By doing so, we activate our purpose and make a clear commitment to the sustainability of our organisation, our communities and our planet.”
Karen Jalon, Vice President, Sustainability, Energy & Smart Technology, Cadillac Fairview
