Priorities

Carbon reduction

Reducing greenhouse gas emissions to progress towards a science-based net-zero target, aligned to credible third-party standards.

Climate risk and resilience

Evaluating climate risk and increasing the resilience of our portfolio to the physical impacts of climate change.

Nature and ecological systems

Promoting the restoration and regeneration of nature, actively improving the ecological systems that support our business.

2024 Highlights

New environmental data platform  

approved for improving the management of our energy, emissions, water and waste data

Climate and resilience risks

assessed in our first location-based study that included all of our assets

Third-party limited assurance 

on multi-year environmental data to increase reporting confidence

Energy-as-a-service solar project

approved for our largest industrial property

Baseline for embodied carbon

achieved with the completion of our first life-cycle assessment

2%

absolute Scope 1 and 2 GHG emissions reduction from 2023 to 2024

Climate resilience is not just a necessity; it’s a commitment to safeguarding our future. Our work at North Harbour demonstrates this dedication, as we are proactively addressing sea level rise and enhancing the area’s infrastructure to protect both the environment and the community. Craig Watters, Chief Operating Officer

Environmental Initiatives

Energy-as-a-Service: Solar Power Partnership Lowers Costs and Emissions

In 2024, Concert Properties partnered with AltCrest Energy, a Toronto-based renewable energy firm, to install the first solar power system in our Ontario operations.

AltCrest supports the real estate industry’s transition to net-zero by deploying low-emission energy systems—such as rooftop solar photovoltaic—using an energy-as-a-service business model. Instead of selling solar panels to a building owner, AltCrest invests in the costs to do it on the owner’s behalf. The client (or tenant) then pays AltCrest for the renewable energy produced by those panels. This approach eliminates upfront capital expenditure and, as long as the energy generated is cheaper than grid power, reduces the organization’s ongoing energy costs. Additionally, the building owner can lower their emissions and may achieve further savings through renewable energy credits.

Designing for Climate Resilience

North Harbour is a mixed-use, master-planned community on 12 acres of waterfront in North Vancouver. Site preparation and construction on the first of four phases began several years ago and we expect to complete it by early 2026.

As a condition of the original rezoning, Concert Properties was required to make significant off-site infrastructure improvements, including work to protect the area from future sea level rise. The project involved upgrading Kings Mill Walk Park, as well as making improvements to the shoreline and portions of the Spirit Trail, a 35-kilometre public greenway running through the property.

New Bald Eagle Nesting Pole Ready for Occupancy

It takes many actions, big and small, to protect the integrity of urban ecosystems during and after construction. A case in point is the work we undertook at our North Harbour community to relocate a bald eagle nest—a project that started before development began in 2020 and finished in 2024.

Several trees on the lot earmarked for Phase 1 were in poor health and had to be removed. A pair of bald eagles were nesting in one of those trees, so we set out to devise a nest relocation plan and obtain a permit for the work under the provincial Wildlife Act from the Ministry of Forests, Lands, Natural Resource Operations and Rural Development.

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Environmental Sustainability

Buildings account for more than one third of global greenhouse gas emissions. In Vancouver and Toronto alone, they contribute to over 50% of each city’s current total emissions. 

Our Environmental Sustainability framework is designed to reduce carbon emissions and other environmental impacts across our communities—such as water consumption and material waste.
 

Sustainability Goals & Targets

Reduce Emissions

We are committed to cutting our corporate greenhouse gas emissions by 80% by 2050.

Audit Climate Change Risk

By regularly assessing our communities, we reduce our tenants’ and purchasers’ risk of harm associated with climate change and natural disasters.

Best-in-Class Cycling Facilities

To inspire climate action in our communities, we aim to provide best-in-class end-of-trip cycling facilities across our developments.

Download 2023 ESG Report