Performance | Climate & energy | Oxford Properties 2021 Global Sustainability Report

Carbon emissions

(305-1a, 1b, 1d, 305-2a, 2c, 2d, 305-4, 305-5, CRE-3)¹

(intensity in kg CO₂e/ft²)

Exceptional 2020 market conditions have resulted in a temporary amplified reduction in carbon. It is expected, as the market continues to adjust, the reduction in emissions will also fall to a lower year-over-year variance.

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2025 Target

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	2015	2016	2017	2018	2019	2020
Emissions intensity (kg CO₂e/ft²)	5.92	5.52	5.09	4.80	4.57	3.81

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Carbon emissions

(305-1, 305-2, 305-4, 305-5, CRE3)

							Like-for-like
Global portfolio	2015	2016	2017	2018	2019	2020	2019	2020
Number of buildings	92	96	93	96	98	100	95	95
Gross floor area (ft²)	55,483,734	58,196,664	55,887,862	57,574,083	55,589,612	55,778,115	53,892,875	53,892,875
Emissions intensity (kg CO₂e/ft²)	5.92	5.52	5.09	4.80	4.57	3.81	4.34	3.67
t CO₂e emissions, all	328,426	321,051	284,251	276,604	253,988	212,448	233,689	197,952
t CO₂e emissions, scope 1	89,718	86,651	83,775	94,681	91,162	78,962	90,241	78,355
t CO₂e emissions, scope 2	238,708	234,400	200,476	181,923	162,826	133,486	143,448	119,596

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Office	2015	2016	2017	2018	2019	2020	2019	2020
Number of buildings	53	58	56	57	58	56	56	56
Gross floor area (ft²)	26,507,426	29,401,144	28,602,059	30,169,298	29,770,969	28,141,883	28,141,883	28,141,883
Emissions intensity (kg CO₂e/ft²)	4.63	4.51	4.40	4.12	4.57	3.84	4.13	3.47
t CO₂e emissions, all	122,734	132,627	125,925	124,359	135,911	108,165	116,108	97,782
t CO₂e emissions, scope 1	21,781	22,022	24,849	27,818	27,579	23,775	26,831	23,688
t CO₂e emissions, scope 2	100,953	110,605	101,076	96,541	108,332	84,390	89,277	74,094

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Retail	2015	2016	2017	2018	2019	2020	2019	2020
Number of buildings	13	14	15	15	14	13	13	13
Gross floor area (ft²)	15,849,892	16,141,498	16,214,902	16,214,902	14,246,616	14,178,965	14,178,965	14,178,965
Emissions intensity (kg CO₂e/ft²)	7.26	6.61	5.50	5.14	3.29	2.76	3.28	2.75
t CO₂e emissions, all	115,016	106,648	89,233	83,365	46,852	39,072	46,525	39,059
t CO₂e emissions, scope 1	18,841	18,095	15,975	21,535	15,245	12,096	15,241	12,083
t CO₂e emissions, scope 2	96,175	88,553	73,258	61,830	31,607	26,976	31,284	26,976

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Residential	2015	2016	2017	2018	2019	2020	2019	2020
Number of buildings	19	18	17	18	20	25	20	20
Gross floor area (ft²)	7,948,313	7,675,919	6,432,443	6,532,552	6,914,696	8,799,936	6,914,696	6,914,696
Emissions intensity (kg CO₂e/ft²)	3.46	3.48	2.43	2.55	2.48	2.33	2.48	2.39
t CO₂e emissions, all	27,519	26,700	15,628	16,664	17,176	20,492	17,176	16,552
t CO₂e emissions, scope 1	18,525	17,443	14,865	15,455	16,035	15,768	16,035	15,422
t CO₂e emissions, scope 2	8,994	9,257	763	1,209	1,141	4,724	1,141	1,130

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Hotel	2015	2016	2017	2018	2019	2020	2019	2020
Number of buildings	7	6	5	6	6	6	6	6
Gross floor area (ft²)	5,178,103	4,978,103	4,638,458	4,657,331	4,657,331	4,657,331	4,657,331	4,657,331
Emissions intensity (kg CO₂e/ft²)	12.20	11.06	11.53	11.21	11.61	9.60	11.57	9.57
t CO₂e emissions, all	63,157	55,076	53,465	52,216	54,049	44,719	53,880	44,559
t CO₂e emissions, scope 1	30,571	29,091	28,086	29,873	32,303	27,322	32,134	27,162
t CO₂e emissions, scope 2	32,586	25,985	25,379	22,343	21,746	17,397	21,746	17,397

Note:

1. Exceptional 2020 market conditions have resulted in a temporary amplified reduction in carbon. It is expected, as the market continues to adjust, the reduction in emissions will also fall to a lower year-over-year variance.

2. Data is non-normalized.

Carbon emissions reduction contributions

(breakdown in %)

This chart outlines factors that contribute to the reduction in our carbon emissions and how much is attributed to the impact of the pandemic.

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	2020
Pandemic impact	6%
Electricity grid	9%
Portfolio performance	20%

Total energy intensity

(ekWh/SF)

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	2015	2016	2017	2018	2019	2020
Total energy intensity (ekWh/SF)	26.6	25.9	25.1	25.4	24.1	20.3

Energy intensity, by asset class

(302-1a, 1c, 1e, 1f, 302-3, 302-4, CRE-1)¹

(ekWh/SF)

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	2015	2016	2017	2018	2019	2020
Office	24.2	23.4	22.8	22.4	20.9	17.4
Retail	26.0	26.1	24.3	25.5	23.6	20.5
Residential	21.7	21.5	21.2	21.7	20.7	17.5
Hotels	48.5	46.5	47.2	48.8	51.3	42.4

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Energy intensity

(302-1, 302-3, 302-4, CRE1)

							Like-for-like
Global portfolio	2015	2016	2017	2018	2019	2020	2019	2020
Number of buildings	92	96	93	96	98	100	95	95
Gross floor area (ft²)	55,483,734	58,196,664	55,887,862	57,574,083	55,589,612	55,778,115	53,892,875	53,892,875
Total energy use (ekWh)	1,478,614,958	1,505,635,151	1,401,512,746	1,460,748,367	1,341,969,977	1,132,471,105	1,234,912,887	1,063,550,662
Electricity	906,689,260	944,735,030	853,412,604	843,689,390	746,373,526	628,887,722	723,151,534	617,548,506
Natural gas	477,056,199	458,532,190	439,830,528	499,502,034	479,828,025	417,849,470	476,182,013	415,934,699
Chilled water	6,095,633	6,621,270	6,508,940	9,036,115	9,221,284	6,826,929	1,285,281	979,367
Steam	64,105,215	70,224,990	74,817,507	79,617,426	77,506,354	55,714,975	6,335,751	6,896,823
Diesel	1,550,862	1,689,054	1,792,643	2,396,496	1,082,481	1,000,741	–	–
LPG – propane	23,117,788	23,832,616	25,150,524	26,506,906	27,958,308	22,191,268	27,958,308	22,191,268
Energy use intensity (ekWh/ft²)	26.6	25.9	25.1	25.4	24.1	20.3	22.9	19.7

							Like-for-like
Office	2015	2016	2017	2018	2019	2020	2019	2020
Number of buildings	53	58	56	57	58	56	56	56
Gross floor area (ft²)	26,507,426	29,401,144	28,602,059	30,169,298	29,770,969	28,141,883	28,141,883	28,141,883
Total energy use (ekWh)	641,564,638	687,038,961	652,242,506	676,785,526	623,243,844	490,869,155	518,036,311	435,864,402
Electricity	448,789,704	486,152,723	431,260,474	431,518,179	380,816,921	294,270,416	358,785,637	294,270,416
Natural gas	122,574,086	124,039,977	139,655,585	156,613,807	155,275,654	133,717,796	151,629,642	133,717,796
Chilled water	6,095,633	6,621,270	6,508,940	9,036,115	9,221,284	6,826,929	1,285,281	979,367
Steam	64,105,215	70,224,990	74,817,507	79,617,426	77,506,354	55,714,975	6,335,751	6,896,823
Diesel					423,631	339,039	–	–
LPG – propane
Energy use intensity (ekWh/ft²)	24.2	23.4	22.8	22.4	20.9	17.4	18.41	15.49

							Like-for-like
Retail	2015	2016	2017	2018	2019	2020	2019	2020
Number of buildings	13	14	15	15	14	13	13	13
Gross floor area (ft²)	15,849,892	16,141,498	16,214,902	16,214,902	14,246,616	14,178,965	14,178,965	14,178,965
Total energy use (ekWh)	412,837,433	421,877,244	393,335,729	414,026,905	336,466,239	290,157,682	335,258,653	290,109,976
Electricity	306,016,494	319,370,432	303,013,589	292,088,915	249,722,704	221,455,605	248,531,997	221,455,605
Natural gas	106,658,220	102,309,655	90,264,051	121,676,724	86,726,655	68,654,371	86,726,655	68,654,371
Chilled water
Steam
Diesel	162,719	197,157	58,089	261,266	16,879	47,706	–	–
LPG – propane
Energy use intensity (ekWh/ft²)	26.0	26.1	24.3	25.5	23.6	20.5	23.64	20.46

							Like-for-like
Residential	2015	2016	2017	2018	2019	2020	2019	2020
Number of buildings	19	18	17	18	20	25	20	20
Gross floor area (ft²)	7,948,313	7,675,919	6,432,443	6,532,552	6,914,696	8,799,936	6,914,696	6,914,696
Total energy use (ekWh)	172,714,144	164,794,216	136,569,022	142,040,380	143,367,400	153,749,469	143,367,400	140,495,481
Electricity	66,806,648	65,084,972	51,460,558	53,604,713	51,569,967	63,541,473	51,569,967	52,202,257
Natural gas	105,872,015	99,673,762	85,072,983	88,400,185	91,797,433	90,207,995	91,797,433	88,293,225
Chilled water
Steam
Diesel	35,481	35,481	35,481	35,481	–	–	–	–
LPG – propane
Energy use intensity (ekWh/ft²)	21.7	21.5	21.2	21.7	20.7	17.5	20.73	20.32

							Like-for-like
Hotels	2015	2016	2017	2018	2019	2020	2019	2020
Number of buildings	7	6	5	6	6	6	6	6
Gross floor area (ft²)	5,178,103	4,978,103	4,638,458	4,657,331	4,657,331	4,657,331	4,657,331	4,657,331
Total energy use (ekWh)	250,992,334	231,478,805	218,849,004	227,274,500	238,892,495	197,694,800	238,250,524	197,080,803
Electricity	85,076,415	74,126,903	67,677,982	66,477,583	64,263,934	49,620,229	64,263,934	49,620,229
Natural gas	141,951,878	132,508,794	124,837,909	132,811,318	146,028,282	125,269,306	146,028,282	125,269,306
Chilled water
Steam
Diesel	846,253	1,010,491	1,182,589	1,478,694	641,971	613,996	–	–
LPG – propane	23,117,788	23,832,616	25,150,524	26,506,906	27,958,308	22,191,268	27,958,308	22,191,268
Energy use intensity (ekWh/ft²)	48.5	46.5	47.2	48.8	51.3	42.4	51.16	42.32

Note:

1. Exceptional 2020 market conditions have resulted in a temporary amplified reduction in energy consumption. It is expected, as the market continues to adjust, the reduction will also fall to a lower year-over-year variance.

2. Data is non-normalized.

Energy consumption, by asset class

(eGWh)

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	2015	2016	2017	2018	2019	2020
Office	642	687	652	677	623	491
Retail	413	422	393	414	336	290
Residential	173	165	137	142	143	154
Hotels	251	231	219	227	239	198

Total energy consumption, by source

(ekWh)

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(ekWh)	2020
Electricity	628,887,722
Natural gas	417,849,470
Chilled water	6,826,929
Steam	55,714,975
Diesel	1,000,741
LPG – propane	22,191,268

Low-carbon energy, by source

(ekWh)

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(ekWh)	2019	2020
Solar	822,820 (1%)	1,711,334 (2%)
Deep lake water cooling (DLWC)	8,407,547 (7%)	5,679,031 (5%)
Geothermal	356,761 (0%)	592,215 (1%)
Renewable Energy Credits (RECs)	10,523,359 (9%)	14,413,814 (13%)
Low-carbon electricity	94,238,651 (82%)	85,162,481 (79%)
Low-carbon energy is defined as solar, geothermal, deep lake water cooling, RECs, and electricity from grids with less than 15g CO₂ / ekWh. *Low-carbon energy accounts for 9% of total energy use across Oxford's global portfolio.

Rooftop solar energy target

(in SF)

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Asset	Region	Asset class	SF
Yorkdale Shopping Centre	Toronto, CAN	Retail	25,000
Scarborough Town Centre	Scarborough, CAN	Retail	53,681
Square One Shopping Centre	Mississauga, CAN	Retail	96,000
Les Galeries de la Capitale	Quebec City, CAN	Retail	80,000
1101 New York Ave	Washington, US	Office	3,578
Gallery Place	Washington, US	Mixed-use Office/Retail	6,172
		TOTAL	264,431
Total includes all rooftop solar projects installed to date across our global retail, industrial, and office portfolios. *Target: Develop 1,000,000 SF of rooftop solar projects across global retail, industrial, and office portfolio by 2024.