GRI Index

The Global Reporting Initiative (GRI) is a non-government organization that has pioneered the global standard for sustainability reporting (GRI Standards) used by thousands of companies worldwide.

GRI published a Construction and Real Estate Sector Supplement (CRESS) in 2011 for entities involved in the design, construction and operation of buildings. Oxford was proud to be represented on the international working group – alongside over 20 other organizations – that developed CRESS, and our reporting has been aligned with it since 2011.

General Standard Disclosure

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STRATEGY AND ANALYSIS
GRI 102-14 Message from the President
ORGANIZATIONAL PROFILE
GRI 102-1 – 8, 102-10

Organizational Profile

Oxford Properties Group is one of the world’s premier real estate investment, development and management companies. Established in 1960, Oxford manages over $45 billion of real estate assets on behalf of its co-owners and investment partners, with a global portfolio spanning over 60 million square feet, as at December 31, 2017. We have regional head offices in Toronto, New York, London, Luxembourg and Singapore, each with investment, development and management professionals, in addition to local teams in each city in which we operate, employing approximately 2,000 employees. Oxford is the global real estate arm of OMERS, the defined benefit pension plan for Ontario’s municipal employees. For more information about our hands-on approach to real estate, visit www.oxfordproperties.com. Oxford owns 150 standing assets. Direct real estate portfolio composition (percentage of portfolio based on market value):

  • Office 58%
  • Retail 31%
  • Industrial 4%
  • Residential 4%
  • Hotels and Resorts 4%

Oxford operates in Canada (53% of the portfolio), the United States (29% of the portfolio) and Europe (19% of the portfolio, based in England, France and Germany).

Oxford is a wholly owned subsidiary of the OMERS Administration Corporation (OAC). Founded in 1962, OMERS is one of Canada's largest defined benefit pension plans, with more than $85 billion in net assets, as at December 31, 2016. OMERS invests and administers pensions for more than 470,000 members from municipalities, school boards, emergency services and local agencies across Ontario. OMERS has employees in Toronto and other major cities across North America, the UK, Europe, Singapore and Australia – originating and managing a diversified portfolio of investments in public markets, private equity, infrastructure and real estate. For more information, please visit www.omers.com.

The following changes in our portfolio were made during the reporting period:

Acquisitions1 Dispositions1
Office
  • The Davenport, Boston
  • 125 Lincoln, Boston
  • 900 16th Street, Washington
  • 1101 New York Ave., Washington
  • Sony Center, Berlin
  • 4010 Tupper, Montreal
  • Constitution Square, Ottawa
  • The Leadenhall Building, London, UK
Retail
Residential
  • One32 Berkeley, Toronto
  • Highfield Park, Halifax
Industrial
  • 1910 Albion, 1870 Albion Rd. & 209 Carrier Dr., Toronto
1 Portfolio acquisitions and dispositions for all asset classes are represented here for all standing investments (excluded are credit and indirect investments).
GRI 102-41 Our People – How We Performed
GRI 102-9 Our Buildings – Supply Chain
GRI 102-11

Sustainability at Oxford – Our Principles

Our Guiding Principles align with a precautionary approach to environmental stewardship and protection.

GRI 102-12 – 13 External Initiatives
IDENTIFIED MATERIAL ASPECTS AND BOUNDARIES
GRI 102-45 – 47, 103-1 About This Report
STAKEHOLDER ENGAGEMENT
GRI 102-40 – 44 Stakeholder Engagement
REPORT PROFILE
GRI 102-50 – 56 About This Report
GOVERNANCE
GRI 102-18 Governance
ETHICS AND INTEGRITY
GRI 102-16 Governance, Code of Conduct and Professional Code of Conduct

Economic

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Aspect: Climate Change
GRI 201-2

Oxford strives to take a leadership role in addressing climate change through a range of actions, including the setting of corporate energy reduction targets and the integration of environmental management practices into our green leases. We understand that our stakeholders expect us to take proactive steps to address the material risks of climate change for the benefit of our business and the environment.

Oxford employees understand that climate change is a significant challenge facing nations, policymakers and businesses – presenting both risks and opportunities. The risks and opportunities from climate change to Oxford's business are summarized below.

Risks

  • Reputational and competitive risks if Oxford fails to align our priorities and actions in this area with those of our tenants
  • Carbon-trading schemes or taxes that directly or indirectly increase costs at our buildings
  • Increase in extreme weather events that could result in increased building damage or make certain markets less attractive
  • New building codes, by-laws, or building maintenance requirements
GRI 201-2

Opportunities

  • Driver for improving energy conservation and efficiency, reducing greenhouse gas emissions and reducing building costs
  • Regulations that make renewable energy generation (e.g., rooftop solar) potentially more attractive at our buildings
  • Diversification of energy sources or technologies in buildings, which could improve the resiliency of building portfolios to energy price fluctuations over the long term
  • Markets that may become more attractive for real estate investment, development or ownership due to favourable warming trends

Green Leases

Oxford signed its first green office lease in 2012. While there have always been environmental aspects to our lease, we decided to update our base lease form to align with evolving customer expectations and Oxford’s commitment to being an industry leader in sustainability.

The green lease includes targets for the building (e.g., green building certification type and level, energy and water consumption, waste diversion), articulates the range of best practices Oxford will implement in managing the building (consistent with LEED), and includes a few requests of our customers in the area of sustainability.

Environmental

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Aspect: Energy
Disclosure of Management Approach

About This Report: Energy and Greenhouse Gas Emissions

Our Buildings – Developing Green Buildings

GRI 302-1 Our Buildings – How We Performed – Energy Consumption
GRI 302-4 Our Buildings – How We Performed – Reduction of Energy Consumption
CRE1 Our Buildings – How We Performed – Building Energy Intensity
CRE8 Our Buildings – How We Performed – Green Buildings
Aspect: Water
Disclosure of Management Approach

About This Report: Water, Effluents and Waste, and Materials

Our Buildings – Developing Green Buildings

GRI 303-1 Our Buildings – How We Performed – Total Water Withdrawal by Source
CRE2 Our Buildings – How We Performed – Building Water Intensity
Aspect: Emissions
Disclosure of Management Approach

About This Report: Energy and Greenhouse Gas Emissions

Our Buildings – Developing Green Buildings

GRI 305-1 – 2 Our Buildings – How We Performed – Direct and Indirect GHG Emissions (Scope 1 & Scope 2)
GRI 305-4 Our Buildings – How We Performed – GHG Emissions Intensity
GRI 305-5 Our Buildings – How We Performed – Reduction of GHG Emissions
GRI 306-2 Our Buildings – How We Performed – Waste

Labour Practice and Decent Work

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Aspect: Employment
Disclosure of Management Approach

About This Report: Social – Labour Practice and Decent Work

GRI 403-2 Our People – How We Performed – Type of Injury Rates

Product Responsibility

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Aspect: Product and Service Labelling
Disclosure of Management Approach

About This Report: Product and Service Labelling

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